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Shimao Group, headquartered in Hong Kong and listed on the Hong Kong stock exchange, has diversified real estate businesses, including commercial, hospitality and residential property investment, development and management. The company has a presence in Australia, China, Hong Kong, Japan and the UK, and maintains a portfolio in eight megacities. To date, Shimao has overseen over 460 real estate development projects, serving more than 3.2 million owners and users in China. In 2022, the company had 34.0 million square metres of floor area under construction and completed.
Summary
Shimao discloses information on some topics related to urban sustainability but lacks disclosure on many important topics. The company regularly conducts materiality assessments. It has also assigned clear accountability to its board of directors and its environmental, social and governance (ESG) working group for overseeing and implementing its sustainability strategy. Although Shimao discloses worker health and safety and environmental targets, the company can improve its sustainability governance performance by setting goals that address the 1st-tier material issues identified as most important to both stakeholders and its business.
To improve its social performance, Shimao should disclose its process to identify human rights risks across its value chain and ensure that its grievance mechanism covers human rights issues. Further, the company can step up its environmental performance by setting greenhouse gas emissions reduction targets aligned with the 1.5°C pathway and ensuring consistent reductions in its most material emissions across its operations and subsidiaries. Shimao should also seek to minimise its negative impacts on nature by committing to zero ecosystem conversion of protected areas. Lastly, the company should conduct comprehensive risk assessments for natural disasters relevant to its operations to strengthen its risk management strategies and reduce potential vulnerabilities.
Ranking position
#114
/300
Total score
14.4
/100
Measurement area
Score
Rank (0-300)
Measurement area
Governance & Strategy
Score
# 1
12.5
/100
Rank (0-300)
#89
Measurement area
Inclusive Cities
Score
# 1
23.3
/100
Rank (0-300)
#100
Measurement area
Healthy Cities
Score
# 1
12.2
/100
Rank (0-300)
#61
Measurement area
Climate Proof & Resilient Cities
Score
# 1
10.0
/100
Rank (0-300)
#101
Measurement area
Core Social Indicators
Score
# 1
13.9
/100
Rank (0-300)
#127
Industries
Industries
Real estate
#40
More about the company
Headquarters
China
Ownership structure
Public
Revenue
USD 9,353 billion (2022)
Number of employees
54401 (2022)
Website
http://shimaogroup.hk
63716
