Climate Change
Goal and Performance Highlights
Performance 2024
Greenhouse Gas Emissions per Year (kgCO2e)
| Scope | 2023 | 2024 |
|---|---|---|
| Number of Projects Assessed | 11 | 28 |
| Direct Greenhouse Gas Emissions (Scope 1) | 155 | 114 |
| Indirect Greenhouse Gas Emissions (Scope 2) | 556 | 1,302 |
| Total Greenhouse Gas Emissions (Scope 1 and Scope 2) | 711 | 1,416 |
Commitment, Challenge and Opportunity
The Company recognizes the risks and impacts of climate change on its business, stakeholders, and the balance of nature. Therefore, the Company has designated greenhouse gas management as a key environmental issue and is committed to continuously reducing greenhouse gas emissions from its operations. This effort supports sustainable development goals and mitigates the impacts of climate change.
Climate change management presents multiple challenges, including physical risks such as increasingly severe natural disasters, as well as heightened regulatory requirements and rising stakeholder expectations. These factors may create cost pressures and necessitate the Company’s continuous adaptation to ensure resilience and long-term sustainability.
Moreover, advancing greenhouse gas management not only mitigates environmental risks but also creates opportunities to enhance the Company’s competitiveness, strengthen its sustainability reputation, and attract investors and partners who prioritize ESG. It further paves the way for the development of environmentally friendly real estate projects that align with the evolving needs of new generations of consumers.
Management and Operational Approach
Climate Risk Assessment
The Company places strong emphasis on comprehensive climate risk management by analyzing both internal and external factors to identify and assess potential risks and opportunities. Insights from this process form the foundation for developing climate-related strategies, governance frameworks, and action plans in alignment with international reporting standards.
Climate Risks and Opportunities
Risks
- Market preferences are shifting toward eco-friendly real estate, creating both pressure and opportunity for competitive differentiation.
- Sustainable design adaptations responding to climate change can enhance brand value and meet customer expectations.
Risk Management Framework
- Closely monitor market trends and consumer behavior on environmental issues to realign strategies with emerging demands.
- Promote sustainable real estate development, including energy-efficient buildings, green buildings, and smart building solutions.
Risks
- Increased natural disaster risks such as floods, storms, or heatwaves may disrupt construction, project timelines, and material deliveries from suppliers.
- Volatility in material and energy costs may arise due to environmental regulations or carbon-related policies.
- Contractors or suppliers lacking environmental readiness may hinder the completeness of carbon footprint reporting.
Risk Management Framework
- Conduct climate risk assessments for each project location and integrate findings into project design, such as drainage planning and selection of durable materials.
- Establish emergency response and recovery plans for projects in high-risk areas.
- Diversify contractors, assess environmental compliance, and include green clauses to ensure shared responsibility for impact reduction.
Risks
- Rising average temperatures (1–5°C) from long-term climate change increase costs due to the need for more heat-resistant building materials.
- Limited access to funding if the Company lacks clear sustainability policies, targets, or actions.
- Higher borrowing costs as banks increasingly factor ESG risks into credit and interest rate decisions.
- Unexpected expenses from rising insurance premiums, carbon taxes, or penalties for non-compliance with environmental regulations.
Risk Management Framework
- Explore and leverage sustainable finance tools such as green bonds, sustainability-linked loans, or government-supported funds.
- Closely monitor environmental tax and financial policy trends to proactively adjust financial strategies ahead of regulatory changes.
Risks
- Regulatory changes such as the draft Climate Change Act and carbon tax implementation may increase compliance costs.
- Growing ESG and carbon disclosure requirements lead to higher reporting burdens and data management efforts.
Risk Management Framework
- Monitor and assess regulatory changes continuously.
- Establish an environmental data management system to ensure efficient and standardized reporting.
- Build internal capacity through ESG and carbon reporting training to stay prepared for emerging requirements.
Stakeholders Directly Impacted
Executives & Employees
Customers
Community & Society
Government Agencies
Investors & Shareholders
Suppliers & Contractors
