Delivers HK$34 Million in Social Value through its Portfolio, Integrating Sustainability into Business Strategies
Download Link for SEWIT Report: https://bit.ly/3TOjJo3
HONG KONG, Sept. 27, 2024 /PRNewswire/ -- Nan Fung Group ("Nan Fung" or the "Group") releases its sustainability report, the "SEWIT Report 2023-24", which details the [1]Group's progress and accomplishments under the "SEWIT" sustainability framework during the reporting period.
Nan Fung has long been committed to fostering sustainable and resilient communities as part of its overarching, long-term development strategy. In 2022, the Group established the "SEWIT" sustainability framework, and has since integrated the framework's five core strategic pillars — Social Cohesion, Environment, Wellness, Innovation, and Technology — into daily operations, demonstrating an unwavering commitment to co-create shared value and positive impact alongside business partners, tenants and stakeholders.
This year's report discloses, for the first time, that Nan Fung has delivered approximately HK$34 million in social value, verified by a third-party. This achievement underscores the Group's substantial contribution to fostering social cohesion through its thoughtfully-designed community initiatives and robust impact measurement methodologies.
Ms. Vanessa Cheung, Managing Director of Nan Fung Group, Founder of The Mills, and SEWIT Committee Chairperson, remarked: "The disclosure of the social value delivered by the Group marks a significant milestone in our impact measurement journey and enhances the transparency of Nan Fung's sustainability initiatives. With deeper insights into the tangible, positive impacts on individuals, communities, and society at large, Nan Fung can become better positioned to make more strategic and forward-thinking decisions in its overall strategy. Moving forward, we aim to expand this impact-driven approach across different facets of our operations where applicable, and continue amplifying SEWIT's influence by working collaboratively with tenants, customers, and the broader community to achieve our sustainability goals."
The "SEWIT Report 2023-24" summarises the Group's progress and achievements in implementing the SEWIT sustainability framework over the past year. Key highlights include:
Delivered HK$34 Million in Social Value through Curating Social Programmes
Nan Fung conducted location-based materiality assessments for its major properties, engaging in focus groups, interviews, and surveys to better understand stakeholder concerns and priorities regarding social issues. These insights have informed more effective decision-making processes, improving the quality and impact of community-based initiatives. From these assessments, the Group identified more than 20 key social issues, such as mental health, social inclusion, local procurement and local employment. Based on these findings, Nan Fung delivered approximately HK$34 million in social value in Hong Kong and London through implementing various targeted social programmes, positively impacting a wide array of stakeholders, including employees, tenants, partners, and members of the local community from various backgrounds. This showcases the Group's significant contribution to strengthening social cohesion.
21% of Tenants Committed to "Net Positive Lease", Leveraging Tenant-Landlord Synergy for Impact
NF Membership Programme Generates More Than 1.45 million NF Seeds, Promoting Green Living and Supporting the Community
Hong Kong Property Portfolio Receives SBTi Approval for Short-Term, Long-Term, and Net-Zero Targets
Looking ahead, Nan Fung will continue to publish sustainability reports regularly and advance its sustainability efforts, spearheading the transition towards a more resilient and sustainable future.
[1] Nan Fung Group's "SEWIT Report 2023 - 2024" provides an overview of the group's sustainability strategy, progress and performance from 1 April 2023 to 31 March 2024.
[2] Calculated based on leasable floor area.
About Nan Fung Group
Nan Fung Group is one of the largest privately held conglomerates in Hong Kong with global interests in real estate development and investment, which holds a well-diversified and substantial financial investment portfolio. The Group was founded in 1954 and has a track record spanning more than 50 years with over 170 projects including residential, commercial and industrial buildings. The Group also strategically focuses on first-tier cities in mainland China and recognises attractive opportunities for development and investment overseas, including New York, Boston and London.
In recent years, the Group has expanded its investment focus to ICE (Innovation, Creativity and Entrepreneurship), exemplified by its signature project, The Mills, a revitalisation of its legacy yarn factories into a hub promoting techstyle (intersection of technology and lifestyle) and an integrated destination housing an experiential shopfloor, a startup incubator, and a cultural museum. The Group has also made significant progress in investments related to life sciences in the US via Pivotal; and in mainland China via an affiliate, New Frontier, which focuses on healthcare, elderly care, education, and new technology.
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Nan Fung Group Releases SEWIT Sustainability Report
Nan Fung Group Releases SEWIT Sustainability Report
