Efficient use of environmental resources, such as energy and water, contributes to our operational efficiency and long-term sustainability. Over the years, we have made progress in water management, waste recycling and greenhouse gas (GHG) emissions reduction. We are setting ambitious long-term targets to 2030 and beyond. Innovation and new technologies will help us achieve these targets and reduce our operating costs.
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We will build climate resilience by reducing our GHG emissions and by ensuring that our assets and operations are prepared to withstand, or respond to, expected climate impacts.
Science indicates that limiting global warming to 1.5℃ requires the world to get to net zero emissions by 2050. We have made that our ambition too.
We aim to be industry leaders in energy efficiency and continue to increase the use of renewable energy in our facilities and operations. As part of our risk management process, we will assess our climate-related risks and aim to build climate resilience into all of our operations and physical assets.
Our businesses depend on water. Some of them use it extensively. Water stress can affect our suppliers, the communities in which we operate and the biodiversity of the areas in which we operate. We aim to use water responsibly and sustainably, and to protect our water sources. We abide by all local wastewater treatment laws, and in many cases exceed them. By doing this, we protect our own resources and help the communities in which we operate to have access to safe, good quality water.
We aim to minimise the total amount of waste we generate and seek to divert as much as possible from landfill, through recycling, reuse and reducing waste at source. Wherever we can, we will ensure that the waste we create is recycled, reused or composted, while permitting recovery for conversion into energy as a transitional solution only where necessary.
In addition, we will seek to maximise recycled content in the materials we use and prioritise the use of recycled or reusable choices in our products and operations. By changing our view of waste and seeing it as a valuable resource for the future, we will reduce our impact on the environment, drive greater efficiency , and lower costs along our value chain.
Sustainable Development Fund
The Swire Pacific Sustainable Development Fund offers financial support to operating companies for projects which can deliver long-term sustainability benefits, but which cannot be justified by reference to our cost of capital targets. This annual HK$100 million fund is intended to accelerate and scale up projects that will help us achieve ambitious carbon, water and waste targets. In 2020, funding of approximately HK$33 million was approved for projects at four operating companies.