This is our 17th annual sustainability report. It was published in April 2024 and covers the financial year from 1st January to 31st December 2023. We aim to provide an accurate and balanced account of the Group’s performance and progress in material areas of sustainability.
This report focuses on the five areas of SwireTHRIVE – Climate, Waste, Water, People and Communities – as these are the Group’s strategic sustainability priorities. We also deal with matters which are important to stakeholders, required for compliance with regulations or which rating agencies expect us to address (see Other ESG disclosures section).
This report deals with the Group as a whole. We also highlight information about individual subsidiaries. Some subsidiaries produce their own sustainability reports. They can be found on our corporate website. The report is in English and traditional Chinese. It can be viewed online or downloaded as a PDF from the report website. Performance data can be downloaded as a CSV file.
This report has been approved by our Board.
We exclude companies from our report boundary which we do not control. The principal effect of this is to exclude Cathay Pacific, which we do not control because it is an associate. Cathay Pacific has its own board of directors, who are responsible for ESG related matters. Hong Kong Aero Engine Services Limited (HAESL), a joint venture between Rolls-Royce plc (50%) and HAECO (50%) is also excluded, as we do not have sole control. Cathay Pacific and HAESL publish their own sustainability reports, which can be accessed via their corporate websites.
We have restated past data to exclude data relating to Cathay Pacific and HAESL for comparative purposes. As recommended in the GHG Protocol’s Corporate Value Chain (scope 3) Accounting & Reporting Standard, we have included a proportion of Cathay Pacific’s carbon emissions under the Group’s scope 3 (category 15) emissions given their materiality and their interest to readers of this report. The proportion is 45%, which is the same as our percentage ordinary shareholding interest in Cathay Pacific.
The report continues to cover subsidiaries of Swire Pacific. Performance data (except as indicated above in respect of Cathay Pacific’s carbon emissions) is reported on a 100% basis and has not been proportioned to reflect Swire Pacific’s shareholdings in subsidiaries. We do not include newly acquired entities until we have a full calendar year’s data from them.
The disposal of 100% equity interests in the franchise business in the USA (doing business as Swire Coca-Cola, USA (SCCU)) was completed on 7th September 2023. Information in this report relating to SCCU represents data of up to completion of the disposal.
The scope, boundary and calculation methodology for specific data points are disclosed in our Reporting Methodology document.
This report complies with the Environmental, Social and Governance Reporting Guide in Appendix C2 to The Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong under Hong Kong Exchanges and Clearing Limited (HKEX). It has been prepared with reference to the Global Reporting Initiative (GRI) Standards. GRI and HKEX content indices are provided.
We refer to the Task Force on Climate-related Financial Disclosures (TCFD), the GHG Protocol, and the Ten Principles of the United Nations Global Compact, of which we are a signatory.
We respond to enquiries from investors and provide information to the CDP (Climate and Water), the DJSI, FTSE4Good, MSCI, Hang Seng Sustainability Indices and other organisations which assess the economic, environmental, and social performance of companies.
We welcome views and feedback on our report. Please send your comments and other sustainability related enquiries to:
sd@swirepacific.com
T (852) 2840 8888
Sustainable Development Office
Swire Pacific Limited
2203 Oxford House, Taikoo Place
979 King’s Road, Quarry Bay, Hong Kong
