ESG has become an unavoidable issue in all walks of life, and in the context of the overall pressure on the industry, how do leading commercial enterprises view ESG? New Business Home has analyzed the annual reports of several real estate giants: see ESG Annual Report of Leading Real Estate Enterprises (1) for details. Here, this article will take a look at the outstanding performance of CR Vientiane Life.
On April 29, 2024, the "2023 Sustainability Report of CR Mixc Life" was released, which is the fourth sustainability report released by CR Mixc Life, which summarizes the company's initiatives and achievements in the field of environmental, social and governance in the past year, and has been awarded a five-star rating by the China Corporate Social Responsibility Report Rating Expert Committee.
As of 2023, CR Mixc Life operates 101 shopping malls and 13 newly opened shopping malls in 2023, with annual retail sales of RMB181.2 billion.
The 69-page sustainability report illustrates the progress and performance of CR Vientiane Life's ESG strategy in five areas, namely Vientiane Ecology, People-oriented, Win-Win Partners, Green Development, and Integrity Management. The report uses a number of cases to illustrate that in five areas, it has made continuous progress in the establishment of social responsibility systems, the implementation of the "dual carbon" strategy, health and well-being, and partner participation.
Among the five major areas of ESG strategy, the two chapters of green development and Vientiane ecology account for the largest proportion of the report, which also shows the focus of enterprises on different ESG issues.
Committed to green development
Achieve the "dual carbon" goal
Let's start with a focus on green development. The 2023 Sustainability Report devotes 20 pages to the company's efforts to manage greenhouse gas emissions, manage water resources, respond to environmental change, energy efficiency and waste management.
CR Vientiane Life said in the report that it has established the overall goal of "dual carbon" management of "achieving carbon peak by 2030 and carbon neutrality by 2050". Further clarify the quantitative targets and key actions of carbon emission reduction at the stage, form a carbon target system with quantitative goals and management goals as the core, establish a "dual carbon" work leading group, and establish a "double carbon" target system with quantitative goals and management goals as the core; Through low-carbon energy-saving transformation, self-built photovoltaics, and the purchase of green electricity, the carbon intensity per unit of management area decreased by 3.80% year-on-year, achieving the annual carbon reduction control target.
It is worth mentioning that, as a commercial operation service provider, Vientiane Life not only pays attention to hard green indicators such as carbon emissions and resource recycling, but also actively advocates sustainable consumption in the process of operation, guides merchants to provide consumers with more convenience and choices for low-carbon consumption behavior, and explores the introduction of relevant incentives to attract consumers to participate, so that sustainable lifestyles become a new fashion.
For example, CR Vientiane launched the "Sustainable Development Initiative" for shopping mall merchants and reached a consensus on sustainable development with more than 20,000 partners. Its 93 shopping malls jointly held the first "Sustainable Living Week" to achieve a new situation of sustainable cooperation with a wider scope, deeper levels and more practical measures. During the year, 11 new green shopping malls were added, and 2 office projects were certified as green properties.
Vientiane's ecological field is diverse
Start the "City Prosperity" program
The Vientiane Ecology is the second largest of the five areas, mainly including community communication and inclusive development, promoting local economic development and smart communities.
In 2023, CR Vientiane Shopping Center launched the "City Prosperity" model building plan to encourage the company's projects to integrate sustainable development concepts into business operations, and the report lists some outstanding project cases.
In terms of urban space operation, the report stated that CR Vientiane Life gives full play to the advantages of space operation by integrating urban resources and operating urban space, realizes the integrated operation and service of the urban ecosystem, and creates a unique space scene for the city.
Shenzhen MixC is the first shopping mall project of China Resources Vientiane, located in Luohu District, Shenzhen, which is one of the largest mixed-use projects in Shenzhen, surrounded by office buildings, residential quarters, five-star hotels and other formats, since its opening in 2004, Shenzhen MixC has played a special social function of commercial complexes, paid attention to the needs of the community, and sought integrated development with the community and the city.
The report pointed out that the Shenzhen Bay MixC has refreshed the city's fashion landmark, and the Shenzhen Bay Mixc, which is in its fifth year of operation, is being favored by more and more brands, attracting a large number of people to take photos and check in, and becoming an Internet celebrity landmark on social media. On November 2, 2023, CHANEL held the 2023/24 Cruise Resort Series launch event at the MixC Shenzhen Bay, with a three-day rich cultural event including short film screenings, live painting creations by graffiti masters, etc. This is CHANEL's first large-scale event in China since 2019, and it is another fashion event presented by Shenzhen Bay MixC after the 2022 Louis Vuitton Fashion & Art Exhibition.
As the global focus on sustainability deepens, corporate behavior in the social and environmental spheres is receiving more attention than ever. CR Mixc's ESG report is not only a summary of its efforts in the areas of environmental, social and governance, but also a clear commitment to sustainable development for the future. Through this report, we can see how CR Vientiane has integrated sustainability into its business operations, especially in its leading practices in shopping mall management and urban space operations.