Social Impacts: People
Social Impacts: Clients and Suppliers
Social Impacts: Community
Environmental Stewardship
CEO Message
Approach to Sustainability
Responsible Governance
Appendices
About This Report
About Kum Shing
Climate Change
GHG Inventory and Energy Consumption
Decarbonisation
Decarbonisation will be a key part of the mitigation strategy. Kum Shing is committed to achieving carbon neutrality by 2049/50, despite the potential challenges and uncertainties ahead. Short- and medium-term carbon reduction targets have been set for our current GHG inventory boundary covering mainly headquarters’ office and depot operations as the starting point in our decarbonisation journey. As we expand our GHG inventory boundary, we will review the reduction targets and refine our decarbonisation roadmap and action plans. We have committed to reducing carbon emissions intensity by 50% in 2029/30 from the 2021/22 base year and by 50% in 2039/40 from the previous 10 years.
Since 2021/22, we have maintained GHG inventory, with third-party independent verification to ensure data credibility that year. The annual GHG inventory encompasses Scope 1 and 2 emissions, and emissions from selected Scope 3 categories for the headquarters’ office and depot operations. Selected Scope 3 categories of project operations are also included. We are extending our GHG accounting to project operations and conducting more comprehensive Scope 3 screening. This enables us to identify emissions hotspots along our value chain, prioritise reduction opportunities, and refine our decarbonisation roadmap and action plans.
Governance
Mitigation and Adaptation Strategies
Climate change is both a global challenge and a strategic priority for our organisation. Our Climate Change Policy outlines our commitment and approach to combating this issue and addressing the climate-related risks and opportunities we encounter in our business operations. The Board holds overall responsibility for climate-related matters, ensuring their integration into governance, strategy, decision making, risk management and reporting. To strengthen oversight and management of these matters, we have the GEMC, which reports to the Board, and the Sustainability Committee. A Working Group on Environment and Climate has been formed to facilitate the development and implementation of climate strategies, targets and action plans.
Our response to climate challenges is built on two strategies: mitigation and adaptation. Through mitigation, we work to reduce our carbon footprint and contribution to climate change. Through adaptation, we improve our resilience and adaptive capacity to withstand the impacts of changing climate.
Decarbonisation
Reduce carbon emissions across our operations through targeted decarbonisation actions
See our environmental performance in Appendix A: Key Statistics – Environmental Performance
Sustainable Practices
Implement sustainable practices to responsibly manage and reduce the environmental impacts of our operations and mitigate climate-related impacts on operations Drive and invest in technologies and innovation that help us achieve decarbonisation and adaptation and offer sustainability services Offer green and sustainable solutions to capitalise on opportunities in sustainable markets and support sustainable transformation and low- carbon transition Engage and collaborate with business partners, subcontractors and suppliers
Scope
Category
Decarbonisation Action
Learn more about our governance structure in Sustainability Governance
• Plant and machinery electrification • Diesel phase-out • Sustainable mobility • Energy conservation and efficiency • Renewable energy
• Stationery sources • Mobile sources
Technologies and Innovation
Scope 1
Management of Risks and Opportunities
Scope 2
• Purchased electricity
Sustainability Services
• Optimised project operations • Smart construction
Climate change is a long-term strategic challenge. Managing climate-related risks and opportunities is not just an environmental imperative but a business necessity. With it, we will be better equipped to face climate-related disruptions, adapt to changing market conditions and client preferences, and ensure the Group’s long-term sustainability and viability. The GEMC oversees the risk management framework and procedures. Climate-related physical and transition risks have been incorporated as risk factors at the operational level. We will conduct further assessments to identify the most relevant climate related impacts, physical and transition risks and opportunities across the Group. This will enable us to develop more specific mitigation and adaptation plans.
• Green purchasing • Low-carbon materials • Supplier engagement • Waste reduction • Sustainable corporate travel
• Purchased goods and services • Purchased capital goods • Waste generated in operations • Business travel
Scope 3
Engagement and Collaboration
Read more about our decarbonisation initiatives in Decarbonisation, Resource Efficiency and Circularity
See our material risks and mitigations in Risk Management
63 KUM SHING SUSTAINABILITY REPORT 2024/25
KUM SHING SUSTAINABILITY REPORT 2024/25
64
Made with FlippingBook Digital Proposal Creator