In an effort to mitigate the impact of climate change, Fortune REIT has proactively responded by committing to the Science Based Targets initiative (SBTi) – an international coalition of non-profit organizations and businesses promoting best practices for emission reduction in line with the Paris Agreement, which aims to limit global warming to 1.5 degree.

In July 2023, Fortune REIT is proud to be the first REIT in Hong Kong to receive SBTI’s approval of near-term 1.5 degree aligned science-based targets. Fortune REIT has made commitment to lowering its operational carbon intensity, targeting a 46% reduction in Scope 1 and 2 emissions by 2030 from a 2019 base year, and to measure and reduce its Scope 3 emissions.

The SBTi was established in 2015 as part of a partnership between CDP (formerly the Carbon Disclosure Project), the United Nations Global Compact, the World Resources Institute and the World Wide Fund for Nature to provide businesses with a clear plan to reduce emissions in line with the goals of the Paris Agreement to combat climate change.