On 1 January 2024, Yuexiu Property (00123.HK) officially launched the "Personal Carbon Footprint" module in its ESG management system. The module calculates personal business travel carbon emission data in real time, which helps to encourage and advocate green travelling and achieve full participation in carbon reduction actions. Meanwhile, the module will support Yuexiu Property to carry out Scope 3 carbon inventory, which is of great significance to Yuexiu Property's ESG work management and the achievement of the dual carbon goals.
In recent years, the problems of global climate change and environmental pollution have become increasingly serious, and have become a global challenge. 22 September 2020, at the 75th session of the United Nations General Assembly, China put forward the "dual-carbon" goal for the first time: striving to achieve the goal of carbon peaking by 2030, and achieving carbon neutrality by 2060. After the "dual-carbon" goal was put forward, the state and local governments at all levels have been actively promoting dual-carbon work in various fields and industries, and implementing the "1+N" policy system, and "dual-carbon" has become an important strategic direction for China. In respect of the regulation of listed companies, the Hong Kong Stock Exchange requires issuers to disclose Scope 1 and Scope 2 greenhouse gas emissions and intensity, and published a consultation paper on 14 April 2023, which puts forward a higher requirement on climate information disclosure, and incorporates Scope 3 emissions into the disclosure requirements, and the revised rules will come into effect on 1 January 2025.
As a state-owned listed company, Yuexiu Property has actively responded to the national "dual-carbon" strategy and the regulatory requirements of the Hong Kong Stock Exchange, and has started to formulate its own "dual-carbon" goals, carbon reduction action plans and initiatives. In September 2023, Yuexiu Property launched the ESG management system, which empowers ESG data management and ESG management decision-making with digital technology. After the launch of the ESG system platform, Yuexiu Property actively considered how to further integrate the digital system with the "dual-carbon" work, and as employees are the foundation of the company's work, it is particularly important to form a "green and low-carbon" atmosphere among employees, so Yuexiu Property considered connecting the data from the employee business travel platform to the ESG system for the development of the "Personal Carbon Footprint" module.
The "Personal Carbon Footprint" module records each employee's annual air and train business journeys, automatically calculates the cumulative annual carbon emissions and the cumulative annual carbon savings, and displays the statistics on a monthly basis. This module will help employees to understand the carbon emissions generated by their own business travelling in real time and the monthly changes, which will encourage employees to form their own awareness of carbon reduction and practice carbon reduction actions, and then form a "green and low-carbon" travel culture throughout the company. In addition, the module will form a database of employees' carbon emissions from business travelling, which will support the statistics and disclosure of the company's Scope 3 carbon emissions data in the future, and better meet the disclosure needs of regulators and relevant stakeholders.
In 2024, the fourth anniversary of China’s dual carbon goal, Yuexiu Property will take the national "dual-carbon" strategy as a guideline and actively promote the formulation of the company's dual carbon goals to form its own sustainability plan. At the same time, Yuexiu Property will continue to carry out dual carbon actions, taking the "Personal Carbon Footprint" as a starting point to promote the concepts of carbon reduction and ESG among all staff members, contributing to the improvement of global climate change and the achievement of the national dual carbon goals.