The first phase of its holistic resource utilization scheme has diverted nearly 140,000 kg of municipal waste from landfill, avoiding more than 510 tons of carbon emissions and benefiting 14 NGOs

HONG KONG SAR – Media OutReach – 16 August 2023 – Hang Lung Properties (SEHK stock code: 00101) (the “Company” or “Hang Lung”) today announced its partnership with Hong Kong-based green startup Sustainable Office Solutions (SOS) and Crossroads Foundation, a local non-profit serving global needs, to implement a holistic resource utilization scheme for Hang Lung’s Hong Kong Office Rejuvenation Project. The first phase of the collaboration has seen over 3,200 office resources being reused, redistributed, or recycled, successfully diverting nearly 140,000 kg of municipal waste from landfill and avoiding more than 510 tons of carbon emissions—the equivalent of the carbon emissions generated by over 3,000 flights between Hong Kong and Singapore.

Since May 2023, Hang Lung has been undergoing a major rejuvenation project for its Hong Kong offices, which aims to create workplaces that promote wellness, engagement, and a collaborative culture. With sustainability being one of the core values of the Company, thorough reviews were conducted to identify ways in which to minimize the Project’s environmental impacts and promote employee and community wellbeing. Measures implemented as part of the scheme include:

1) Staff Take Home Program: Hang Lung’s Hong Kong employees were encouraged to take home well-maintained office furniture and electronic appliances, including task chairs, pedestals, computer monitors and ovens, for free. The first round of the program was well-received, with close to 90 staff members participating.

2) Donation to NGOs: 182 items of office resources were donated to 14 NGOs in the initial phase of the collaboration, including Crossroads Foundation, Oxfam Hong Kong and Hong Kong PHAB Association, spanning different NGO sectors in Hong Kong. These assets help support the planning and implementation of their community projects.

3) Reuse: Hang Lung is currently using numerous recycled office resources at its swing office, while others are being stored for reuse upon completion of the Project.

4) Upcycle: Resources that cannot be reused, such as wooden desktops, will be processed and transformed into items like office panels for secondary use.

5) Recycle: Other remaining non-reusable resources will be sent to local recyclers for treatment to maximize their circular economy benefits.

Ms. Janet Poon, Director – Human Resources & Administration of Hang Lung Properties, said, “Sustainability is one of our core values, and we are committed to embedding sustainable practices across all our operations and workplaces. We are delighted to see the positive impacts we have achieved in both the environmental and social spheres through our collaboration with SOS and Crossroads Foundation. We have not only optimized the utilization and management of our existing office resources but have also enhanced the wellbeing of our employees and the wider community. We hope this initiative will become a best practice for our industry and help accelerate the transition to a circular economy in Hong Kong.”

Ms. Pamela Hinton, General Manager of Sustainable Office Solutions, said, “We are delighted to have the opportunity to collaborate with Hang Lung on providing a sustainable office resource inventory management solution. This collaboration effectively promotes resource recycling, drives a circular economy, and contributes to the betterment of the community. We look forward to this partnership serving as a catalyst for other businesses to adopt circular economy principles when managing various resources.”

Mr. Markus Oetiker, Global Distribution Operations Manager of Crossroads Foundation, said, “This partnership is a wonderful example of how different parties can come together to positively impact the community. We were so pleased to see the office furniture matched with local NGOs to help refurbish their service centers. It has been such a pleasure to play our part alongside Hang Lung and SOS in redirecting these resources into the hands of those in need.”

Hashtag: #HangLungProperties

The issuer is solely responsible for the content of this announcement.

About Hang Lung Properties

Hang Lung Properties Limited (stock code: 00101) creates compelling spaces that enrich lives. Headquartered in Hong Kong, Hang Lung Properties develops and manages a diversified portfolio of world-class properties in Hong Kong and the nine Mainland cities of Shanghai, Shenyang, Jinan, Wuxi, Tianjin, Dalian, Kunming, Wuhan and Hangzhou. With its luxury positioning under the “66” brand, the company’s Mainland portfolio has established its leading position as the “Pulse of the City”. Hang Lung Properties is recognized for leading the way in enhanced sustainability initiatives in real estate as it pursues sustainable growth by connecting customers and communities.

At Hang Lung Properties – We Do It Well.

For more information, please visit www.hanglung.com.

About Sustainable Office Solutions (SOS)

SOS specialises in office inventory management and provides a tailored and streamlined service to support businesses in their transition towards a resource-efficient, circular and sustainable economy. Through sustainable solutions that optimise redistribution, repurposing, recycling and reuse, SOS helps corporations, property managers and developers to maximise the value of their office assets while minimising waste during renovation and relocation, with an overall waste diversion rate of 95%.

For more information, please visit www.sos-action.com.

About Crossroads Foundation

Crossroads Foundation is a Hong Kong based, non-profit organisation serving global need, staffed entirely by volunteers. Crossroads started in 1995 and believes that, in a broken world that sees too much suffering, they should do all they can to connect people who are in need with those who can provide help. As well as collecting and redistributing donated goods, they offer experiential simulations on issues like refugees, urban poverty and disability, advocate fair trade through their shop, and help companies find non-profit projects to partner on.

For more information, please visit www.crossroads.org.hk.