HKUST Annual Report 2022-2023

HKUST annual report 2022-2023 The University continued to lead initiatives on multiple fronts to achieve net-zero emissions, while making contributions on campus and beyond to the United Nations’ Sustainable Development Goals (SDGs). SUSTAINABLE Horizons Progressing Toward Net-Zero Through Investment Strategies and Optimized Campus Operations Striving to be a sustainability leader across the region and beyond, HKUST has taken various steps towards achieving the net-zero carbon emissions goal. In a notable effort, it became the first university in Hong Kong to pledge the elimination of investments in fossil fuels when it announced an updated environmental, social, and governance (ESG) policy in December 2022 after having practiced ESG investing since 2018. Focusing on “in-scope assets” – mainly public equities and public fixed income which make up the majority of HKUST’s long-term investment portfolio – HKUST will halve greenhouse gas (GHG) emissions by 2030 from the baseline of 2021 while shifting 100% of assets to companies who have adopted science-based targets for climate action. In addition, HKUST will allocate at least 5% of investments to companies working on climate solutions. In the area of campus operation, the ongoing HKUST 2028 Sustainability Challenge has meaningfully reduced the University’s environmental footprint over the year. The Challenge actively enhances the University’s well- being and nurtures our landscape and biodiversity. Under this master plan, various measures are being implemented to align HKUST with the SDGs, reducing the environmental impact of cities and protecting life on land and underwater.