Gemdale

Gemdale has not set any emissions reduction targets. The company should introduce targets to cover emissions from both its own operations and its value chain. The company should ensure that targets developed align with its 1.5°C pathway. Furthermore, the company should set regularly spaced intermediate targets at gaps of no more than five years to incentivise near-term action.

Gemdale does not disclose the expected in-use emissions intensity data, or sufficient floor area and in-use absolute emissions data, for the buildings it developed in 2021 or in previous years. As a result, it is not possible to provide a meaningful assessment of the company’s past emissions trend or projected future performance. Gemdale also does not quantify commitments to perform renovations for clients to significantly reduce the emissions intensity of existing buildings.

There is no evidence that Gemdale has a low-carbon transition plan. The company should establish a time-bound action plan that outlines how it will transition to a low-carbon economy. This should include medium- and long-term targets, verifiable and quantifiable key performance indicators and financial commitments. The plan should be informed by scenario analysis to ensure that the plan’s ambition is sufficient for a 1.5°C pathway.

Gemdale has not set any emissions reduction targets. The company has not developed a vision of what its business will look like in a low-carbon future.

The company does not have a low-carbon transition plan and there is no evidence it intends to develop one in the near future.

The company mentions increasing the use of renewable energy, improving energy efficiency and using prefabricated building components in its sustainability report. However, the company has not made any commitments to these initiatives.

In 2021 Gemdale issued its first green bond for a value of USD 480 million with a plan to invest it in green buildings, new technologies and prefabricated buildings.

Gemdale acknowledges climate change as an issue but has not developed a strategy to reduce emissions from its operations, set any targets or conducted scenario analysis. There is little evidence that the company has integrated climate change into its business model.

No evidence was found that Gemdale commits to social dialogue or engages with the categories of stakeholders on a just transition. Furthermore, no evidence was found to demonstrate the company’s ongoing social dialogue and meaningful engagement with affected stakeholders.

No evidence was found of the company undertaking low-carbon transition planning to mitigate the social impacts of the transition on workers, affected stakeholders and its business relationships. Additionally, no evidence was found to demonstrate the company’s engagement in social dialogue and with stakeholders in its just transition planning.

No public commitment was found stating Gemdale’s intention to create and support access to green and decent jobs as part of the low-carbon transition. Moreover, no evidence was found that the company’s action promotes these jobs in a way that ensures gender balance and inclusion of vulnerable groups. Additionally, no relevant disclosure was found of the company’s assessment of employment dislocation risks.

No public commitment by the company was available stating its intention to re- and up-skill workers displaced by the transition to a low-carbon economy. Additionally, no evidence was found that the company re- and up-skills workers in a way that ensures gender balance and inclusion of vulnerable groups.

No relevant disclosure was found to show if Gemdale identifies impacts of the low-carbon transition on social protection for workers and affected stakeholders, nor how it contributes to social protection. Additionally, no evidence was found that the company expects its business relationships to contribute to the social protection of their workers and affected stakeholders.

No relevant disclosure was found to show how Gemdale identifies any misalignment of its lobbying activities with policies and regulations that support the just transition, nor of the measures it takes to address misalignment. Furthermore, no evidence was found that the company lobbies for policies and regulations for green and decent job creation; retention, education and reskilling; and social protection for workers.

No policies or commitments of Gemdale related to respect for human rights were found in the public domain. This includes the necessary policies and systems by which the company can ensure respect for basic human rights in its operations and supply chain.

No evidence of the Gemdale’s policies or commitments related to key decent work issues were found in the public domain. These issues include the provision of secure, safe and healthy workplaces, where workers are fairly renumerated and have a meaningful say in decision-making.

No policies or commitments of Gemdale related to key ethical business topics – personal data protection, tax, bribery and corruption, and lobbying and political engagement – were found in the public domain. This includes ensuring ethical business conduct throughout its operations and in its relationships with business partners.