Partnership promotes sustainability through plant-based diets
Shui On Land (SOL), the flagship property arm of Hong Kong-based Shui On Group on the Chinese mainland, announced on Friday that it has formed a strategic alliance with Hong Kong's "plant-based platform" Green Monday Group — one of the company's latest endeavors to promote sustainable lifestyles and achieve carbon-emission reductions by encouraging green eating habits.
The collaboration, through which a carbon-emission-reduction program will be developed to quantify the impact of their efforts, came after the introduction of plant-based eating at SOL's Xintiandi Foodie Social earlier this month, which included green menus and public education activities — a signature initiative in the company's 5C Sustainable Development Strategy (clean, community, culture, care and corporate governance).
"Sustainable development is an integral part of SOL's corporate strategy, and we share a common view with Green Monday that a strong ESG (environment, social and governance) proposition links to value creation, and that sustainability comes with innovation," said Stephanie Lo, executive director of Shui On Land. "We will engage our value chain to work together with us for greater impact, and will continue to innovate and pioneer new initiatives to accomplish our sustainability goals for both ourselves and the world."
Under SOL's 10-year 5C strategy, which was crafted in 2020 and is scheduled to be rolled out this year, the Shanghai-based firm will commit to setting its carbon-emission-reduction goals over the next decade by using the Science Based Targets Initiative to help keep global temperature increases to well below 2 degrees above pre-industrial levels. To achieve this goal, the company is targeting an increase of only 1.5 degrees.
In addition to the strategic collaboration, SOL has joined the “Green Monday ESG Coalition,” which aims to unify businesses for a sustainable future with a mission to empower corporations with solutions that can make “net zero” a reality.
As planned, an actionable roadmap with a specified approach, framework, empowerment and measurement tools will be devised by SOL in collaboration with Green Monday. To kick start the program, which will be conducted in phases, SOL has announced a series of green initiatives to incentivize external stakeholders to change their eating habits for a healthier, more sustainable lifestyle, empowered by Green Monday's plant-based food ingredients.
For the second phase, SOL will offer various green options to its staff and internal stakeholders through green caterings, enhanced plant-based menus in its integrated communities and sustainability training and activities. Plant-based options will also be offered at its employee cafeterias and events.
The two parties will use internationally recognized science-based standards to quantify the impact of these initiatives by working with industry experts and professionals on ESG tracking and reporting.
"We are delighted to partner with Shui On Land to establish industry best practices and bring about positive environmental and social impact," said David Yeung, founder and chief executive officer of Green Monday Group. "A plant-based diet is essential to the planet's future, and leveraging changes in people's diets as an ESG measure is one of the most actionable ways to achieve net zero."
Founded in Hong Kong in 2012 with a vision to "Make Change Happen, Make Green Common," Green Monday is an Asian pioneer in promoting flexitarianism, or "casual vegetarianism."