New World Development, a Hong Kong-listed conglomerate, is dedicated to integrating creativity and innovation into its projects while promoting sustainability. With a diverse portfolio spanning residences, hotels, offices, retail malls, education, and wellness services, NWD focuses on creating shared value by uniting commerce with community.
In alignment with its New World Sustainability Vision 2030, the company has set ambitious sustainability targets based on the United Nations Sustainable Development Goals in the categories of Green, Wellness, Smart, and Caring.
Pioneering Climate Action and Renewable Energy
NWD has been a leader in climate action, becoming one of the first companies in Asia to adopt the Task Force on Climate-Related Financial Disclosures framework in 2019. The following year, it committed to the Business Ambition for 1.5°C, reinforcing its dedication to climate change mitigation under the Paris Agreement.
The company has laid out a Renewable Energy Roadmap to achieve 100 percent renewable energy in all its Greater China rental properties by fiscal 2031. It is only the third real estate developer in Asia to receive the Science Based Targets Initiative’s approval for its near-term 1.5°C-aligned science-based targets and commit to the SBTi Net-Zero Standard. NWD has set a near-term goal to achieve science-based targets by fiscal 2030 and has outlined a long-term emission reduction strategy to reach net-zero by 2050.
Embedding Sustainability in Property Development
NWD ensures that sustainability considerations are integrated throughout the property development process. Its Sustainability Building Policy mandates that all new developments achieve at least the second-highest level of green building certifications under schemes such as BEAM Plus, the Leadership in Energy and Environmental Design standard, and the China Green Building Evaluation Standard. These certifications apply to new developments at the design stage and existing properties at the operational stage.
One of the company’s flagship developments, K11 ATELIER King’s Road, is among the first office buildings in the world to achieve triple platinum certifications under the WELL Building Standard, BEAM Plus, and LEED schemes. To further decarbonize its properties, NWD conducts regular audits and inspections, undertakes energy-efficient retrofitting, and implements advanced energy management measures. These initiatives include heating, ventilation, and air-conditioning system upgrades, the deployment of water pumps with variable-speed drives, mobile app-friendly smart lighting controls, and the increased use of renewable energy.
Leading the Industry in Tenant Engagement
Recognizing the challenge of Scope 3 emissions, particularly the carbon footprint of tenant operations, NWD launched the Creating Shared Value Lease, an industry-first tenant engagement initiative. This program incentivizes businesses to adopt sustainability practices by offering rewards such as K Dollars, which can be used for purchases at K11 properties. Tenants earn these rewards by meeting energy-saving targets, reducing waste generation, and increasing recycling efforts.
This program not only reduces environmental impact but also strengthens tenant relationships, demonstrating NWD’s innovative approach to sustainability.
Shaping a Greener Future
Through ESG integration, green building policies, and tenant engagement initiatives, NWD is setting a benchmark for sustainable property development in Asia. By embedding sustainability at every stage of its operations, the company continues to minimize environmental impacts while driving long-term value for communities and stakeholders alike.
