New World Development Company Limited (“New World Group” or “the Group”; Stock Code: 17.HK) issued its second Sustainability Report in accordance with the Core requirements of Global Reporting Initiative (GRI) G4 Guidelines and made reference to the Environmental, Social and Governance Reporting Guide (the ESG Guide) issued by Hong Kong Exchanges and Clearing Limited. The report focuses on the sustainability performances of the Group and has been independently verified by the Hong Kong Productivity Council.
Following the Group’s first Sustainability Report published last year, its three listed subsidiaries: NWS Holdings Limited, New World China Land Limited and New World Department Store China Limited issued their first standalone sustainability reports in December 2014, demonstrating the Group’s commitment and determination to promoting sustainability.
Adrian Cheng, Executive Director and Joint General Manager of New World Development Company Limited said, “As a forward looking organization, New World Group values the transparency to its stakeholders and produces all four sustainability reports in accordance with international framework, which is beyond any local requirements for ESG reporting.”
In addition to covering business operations and the management, policies, corporate leadership and stakeholders’ participation of sustainable development, the report also delves into the Group’s achievements in environmental protection and community initiatives, including the Life Cycle Approach to Sustainable Property Development where 87% development projects, in terms of Gross Floor Area, in Hong Kong has applied for green building certification, a significant raise from 62% in 2010; training hours has reached over 52,000 hours and 18,000 hours respectively for professional swimming and basketball training under the New World Springboard sustainable community programme for under-resourced youth. Other topics covered by the report including promoting art and culture to the public, talent development and staff caring.
With great emphasis on stakeholder communication and enhanced transparency, the Group will continue to publish sustainability reports in the future as part of its efforts in sustainable development, allowing stakeholders to have a firmer grasp of the Group’s policies, commitments, progress and achievements on this front.
New World Development Company Limited
Founded in 1970, New World Development Company Limited (“New World Group”, Stock Code: 17.HK) was publicly listed in Hong Kong in 1972 and is a constituent stock of the Hong Kong Hang Seng Index. A diversified holding company with a focus on property development, New World Group’s core business areas include property development, infrastructure and service, department stores and hotels. As at 30 June 2014, the total asset value of the Group amounted to HK$369.2billion.
As at 30 June 2014, the Group has an effective interest of approximately 61.3% in NWS Holdings Limited (Stock Code: 659.HK), approximately 69.7% in New World China Land Limited (Stock Code: 917.HK) and approximately 72.3% in New World Department Store China Limited (Stock Code: 825.HK).