China State Construction International (CSCI) aims to be the first contractor in China’s construction industry to engage in climate risk analysis and disclosure under the Taskforce for Climate-Related Financial Disclosures (TCFD) framework. Cundall (Hong Kong) has been appointed as one of the sustainability consultants to assist the organisation by providing climate scenario analysis for all CSCI projects in Hong Kong.
Cundall’s analysis will determine both the physical and transitional climate risks the company’s projects will likely be exposed to in 2030 and 2050, and assess the financial impact of related risks.
China State Construction International Holdings Limited is a Hong Kong listed vertically integrated construction and investment conglomerate focusing on infrastructure investment, and construction projects. In 2021 it committed to supporting the TCFD, recognising the framework will enhance the company’s overall risk management capabilities, establish a foundation for adapting to and mitigating climate change and also create long-term value for society.
Cundall has developed a strong partnership with CSCI through work on exemplar projects including the BEAM Plus Platinum rated Chinese University of Hong Kong Medical Centre, and the award winning Hong Kong Children’s Hospital.
“CSCI has demonstrated industry leadership with its commitment to excellence in environmental credentials for projects. Undertaking TCFD assessment and reporting is another step on this journey of innovation and exemplary business practices,” said Cundall Hong Kong Director, Joe Tang.
“CSCI will be the first contractor in China’s construction industry to disclose their TCFD impacts and implement recommendations for reducing their emissions footprint and addressing climate risk exposure. We are pleased to see our industry peers working towards the goal of carbon neutrality and are honoured to be contributing our knowledge and expertise to help CSCI meet its objective of creating a better built environment.”
APAC ESG Advisory lead, Madlen Jannaschk, says the commitment will have a beneficial influence on other businesses in the APAC region.
“When companies with CSCI’s stature publicly engage in the TCFD framework, there is an enabling effect for all other businesses in their value chain to also understand and address their own climate risk exposure,” Jannaschk explained. “It also sends a clear message to other stakeholders in the property sector and construction industry that assessing climate risk is a sound business practice that underpins reputation and long-term financial success.”
