Hang Lung boosts renewable energy usage across mainland portfolio to 80%

On May 27, 2025, Hang Lung Properties Limited announced a significant advancement in its commitment to sustainability by achieving a milestone where 80% of its operating properties in mainland China are now powered by renewable energy. This development follows a transition initiated on May 1, 2025, where three additional properties, Forum 66 and Palace 66 in Shenyang, and Olympia 66 in Dalian, became the first commercial developments in Liaoning Province to utilize wind and solar energy. Hang Lung Properties' efforts are part of a broader strategy to lead in renewable energy initiatives and contribute to China's dual carbon targets by 2030 and achieving net zero emissions by 2050. Through power purchase agreements that comply with China's green energy policies, these properties are collectively expected to procure about 320 million kWh of renewable energy by the end of 2025. This achievement not only surpasses the company's original sustainability target of 25% renewable energy in its mainland properties for 2025 but also serves as a shining example for peers and tenants in the commercial and retail sectors to follow suit. Moreover, the commitment to renewable energy is expected to empower tenants to pursue their own sustainability goals in tandem with Hang Lung's initiatives. The transition to green energy sources has garnered support from various stakeholders. Mr. Erich Kaiserseder, the General Manager of Conrad Shenyang, emphasized the importance of sustainability in hotel operations and expressed satisfaction that all electricity for their hotel in Forum 66 is now sourced from renewable energy. Similarly, Ms. Xuan Liu, Director of Dacheng Shenyang Law Firm, shared her delight about the office space at Forum 66 now being powered by green electricity, underscoring the effective collaboration between tenants and landlords in achieving shared sustainability objectives. With this recent achievement, Hang Lung's commitment to renewable energy will likely accelerate the transformation towards a greener commercial ecosystem in China and inspire other entities to advance their decarbonization efforts, aligning closely with the national objectives to combat climate change.