New sustainability partnership for China luxury retail
Hang Lung Properties and LVMH Group have launched a new sustainability partnership for China.
The Hong Kong developer and the French luxury goods group will collaborate for three years on climate and sustainability measures, they announced this week. LVMH brands occupy more than 27,000 square metres across Hang Lung properties in seven Chinese cities.
The duo will focus on five key areas: climate resilience, resource management, wellbeing, sustainable transactions and sustainability communication, events and progress reviews.
Hang Lung said the agreement “reimagines the relationship between property owners and leading retail brands on sustainability”.
Adriel Chan, Hang Lung vice chair and chair of sustainability steering committee, said: "Although Hang Lung already has ambitious ESG goals and targets, the partnership with LVMH takes our sustainability agenda to the next level, demonstrating how landlords and tenants can work creatively together for the greater good.
“Hang Lung and LVMH have made explicit in our agreement that we encourage one another to work with other tenants and other landlords to further the sustainability agenda, and so we welcome the proliferation of these types of agreements going forward."