This is our 16th annual sustainable development report. It was published in April 2023 and covers the financial year from 1st January to 31st December 2022. We aim to provide an accurate and balanced account of the Group’s performance and progress in material areas of sustainability.

This report focuses on the five areas of SwireTHRIVE – Climate, Waste, Water, People and Communities – as these are the Group’s strategic sustainability priorities. We also deal with matters which are important to stakeholders, required for compliance with regulations or which rating agencies expect us to address (see Other ESG disclosures section).

This report deals with the Group as a whole. We also highlight information about individual subsidiaries. Some subsidiaries produce their own sustainability reports. They can be found on our corporate website. The report is in English and traditional Chinese. It can be viewed online or downloaded as a PDF from the report website. Performance data can be downloaded as a CSV file.

This report has been approved by our Board.

We exclude companies from our report boundary which we do not control. The principal effect of this is to exclude Cathay Pacific, which we do not control because it is an associate. Cathay Pacific has its own board of directors, who are responsible for ESG related matters. Hong Kong Aero Engine Services Limited (HAESL), a joint venture between RollsRoyce plc (50%) and HAECO (50%) is also excluded, as shareholders have joint control. Cathay Pacific and HAESL publish their own sustainable development reports, which can be accessed via their corporate websites.

We have restated past data so as to exclude data relating to Cathay Pacific and HAESL for comparative purposes. As recommended in the GHG Protocol’s Corporate Value Chain (Scope 3) Accounting & Reporting Standard, we have included a proportion of Cathay Pacific’s carbon emissions under the Group’s scope 3 (category 15) emissions given their materiality and their interest to readers of this report. The proportion is 45%, which is the same as our percentage ordinary shareholding interest in Cathay Pacific.

The report continues to cover subsidiaries of Swire Pacific. Performance data (except as indicated above in respect of Cathay Pacific’s carbon emissions) is reported on a 100% basis and has not been proportioned to reflect Swire Pacific’s shareholdings in subsidiaries. We do not include newly acquired entities until we have a full calendar year’s data from them.

In 2022, Swire Pacific exited the marine services industry. Performance data for Swire Pacific Offshore business is included in this report up to the date of sale. The scope, boundary and calculation methodology for specific data points are disclosed in a separate reporting methodology document.

This report complies with the Environmental, Social and Governance Reporting Guide in Appendix 27 to The Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong under Hong Kong Exchanges and Clearing Limited (HKEX). It has been prepared with reference to the Global Reporting Initiative (GRI) Standards. GRI and HKEX content indices are provided.

We refer to the Task Force on Climate-related Financial Disclosures (TCFD) and the GHG Protocol.

Certain data points are the subject of limited assurance by Deloitte. Please see the Independent Assurance Report.

Our Swire Pacific Annual Report 2022 deals with our financial and operational performance and corporate governance.

We respond to enquiries from investors and provide information to the CDP (Climate and Water), the DJSI, FTSE4Good, MSCI, Hang Seng Sustainability Indices and other organisations which assess the economic, environmental and social performance of companies.

We welcome views and feedback on our report. Please send your comments and other sustainability related enquiries to:

(852) 2840 8888
Sustainable Development Office
Swire Pacific Limited
2203 Oxford House, Taikoo Place
979 King’s Road, Quarry Bay, Hong Kong

Mark Harper<br/>
Group Head of Sustainability
Mark Harper
Group Head of Sustainability
Bonnie Lau<br/>
Executive Assistant
Bonnie Lau
Executive Assistant
Haily Chan<br/>
Sustainable Development Manager
Haily Chan
Sustainable Development Manager
Aaron Sloan<br/>
Sustainable Development Manager
Aaron Sloan
Sustainable Development Manager
Sam Smith<br/>
Sustainable Development Manager
Sam Smith
Sustainable Development Manager
Dori Jin<br/>
Assistant Manager, Sustainable Development
Dori Jin
Assistant Manager, Sustainable Development
Francis Lee<br/>
Assistant Manager, Sustainable Development
Francis Lee
Assistant Manager, Sustainable Development
Ada Law<br/>
Senior Officer, Sustainable Development
Ada Law
Senior Officer, Sustainable Development
Assessing materiality