SEWIT Report
Nan Fung Group’s First Sustainability Report
We are delighted to present Nan Fung Group’s inaugural sustainability report – SEWIT Report 2022-23, with the theme “Pioneering for an Intergenerational Future.”
With a long-term vision of building a sustainable and resilient community, the Group has grown from its humble textile roots in Hong Kong into an ever-evolving conglomerate with solid global presence. Even with a rich history of 69 years, the launch of the SEWIT report stands as a significant milestone for us, as it showcases our commitment, collective efforts and performance in realising our sustainability framework – SEWIT.
Moving ahead, we will continue to publish sustainability reports regularly to keep our stakeholders informed of our sustainability commitments, progress and achievements as we expand the reach of the SEWIT framework. We aspire to join hands with the wider community to pioneer a sustainable and intergenerational future.
Executive Summary
Social Cohesion
We foster a sustainable, resilient and cohesive community by understanding the material issues of our stakeholders.
In 2022, we conducted a location-based materiality assessment involving 1,000+ stakeholders for AIRSIDE at Kai Tak and its vicinity in Hong Kong, identifying material social topics in the area.
We also integrated the “Theory-of-Change” framework for programme curation and accelerated the use of impact measurement tools to create, measure and maximise positive impact for all parties.
Environment
We recognise climate-related risks as emerging risks that affect our long-term business success. Our strategy in environmental stewardship focuses on creating positive environmental impacts.
In 2022, our property portfolio in Hong Kong committed to the Science-Based Targets initiative.
We have also published our first Climate-Related Financial Disclosures, as per the recommendations set out by the Task Force on Climate-Related Financial Disclosures and conducted the first Group-wide net-zero training to continuously build sustainability capability.
Wellness
We care for the well-being of our stakeholders, including employees, customers, suppliers and neighbours with whom we share the communities.
Our achievements include:
- Recording a Lost-time Injury Rate of 0.85 – ensuring occupational health and safety remains a top priority.
- AIRSIDE in Hong Kong achieving WELL Platinum certification, and the C8 project in Mainland China obtaining WELL Gold certification.
- Nan Fung Life Sciences investee, Arctic Vision, revolutionising eye care with groundbreaking solutions for eye diseases and bringing wellness through life sciences innovations.
Innovation
We foster an environment of co-creation and intrapreneurship, continuously seeking new knowledge to inspire meaningful disruptions.
We focus on cultivating an intrapreneurial environment, investing in life sciences innovation and enhancing our positioning through innovating our business streams.
Our achievements include:
- Over 240 ideas generated from internal and external incubation competitions.
- Over US$1 billion invested in over 60 companies and 30 funds by Nan Fung Life Sciences and Pivotal.
- The Mills Fabrica’s investment in and/ or incubation of a total of 7 funds and over 20 start-ups since 2018.
- The launch of NF Touch and Net Positive Lease to engage and empower tenants, their employees and the community in achieving sustainability goals.
Technology
We harness the power of technology to convert knowledge into applications and create ideal products and solutions to benefit mankind.
AIRSIDE in Hong Kong exemplifies our adoption of innovative and sustainable technologies. Our achievements include:
- One of the largest office-building PV Farms and Walkable PV in Hong Kong.
- Automatic Refuse Collection System with a weighing system and recycling capabilities.
- Nurturing biodiversity through a biofiltration system, using recycled greywater for irrigation in an artificial wetland.
In addition to smart facility solutions, in early 2023, we established a new global property research and analytics arm to leverage artificial intelligence and machine learning for refining and enhancing data-informed decision-making for the Group.