The Hong Kong University of Science and Technology (HKUST) has partnered with Gammon Construction Limited (Gammon), Swire Properties, and AXA Climate on a pioneering initiative to apply the Taskforce on Nature-related Financial Disclosures (TNFD) framework to commercial premises. A team of students from HKUST’s BSc in Environmental Management and Technology (EVMT) has completed Hong Kong’s first student-driven TNFD-based assessment for commercial properties, providing strategic recommendations to integrate nature into business and financial decisions.

This unique collaboration tested the global TNFD framework through a hands-on capstone project, where students work together with corporate leaders in the engineering, construction and real estate sector to develop nature-positive strategies for corporates. It underscores HKUST's commitment to experiential learning, equipping students with vital cross-disciplinary expertise, while demonstrating the partners' shared dedication to empowering youth and cultivating future sustainability leaders.

Guided by EVMT faculty and industry experts from Gammon, Swire Properties, and AXA Climate, the students conducted a "Pilot Assessment of Nature-related Issues of Six Pacific Place". They evaluated nature-related dependencies, impacts, risks, and opportunities throughout the lifecycle of the Grade-A office building, Six Pacific Place, Two Queensway Bridge and a pedestrian link in Admiralty — a Swire Properties development built by Gammon as the project main contractor. Six Pacific Place was built to the highest sustainability standards, achieving platinum ratings under LEED, WELL and BEAM Plus certifications.

Using the TNFD's pioneering four-stage LEAP (Locate, Evaluate, Assess, and Prepare) approach, the students mapped the development and over 100 mining and manufacturing sites of the key building materials used by the project. With the ENCORE (Exploring Natural Capital Opportunities, Risks and Exposure) tool, they generated heatmaps of nature-related dependencies and impacts tailored to the local context. The study identified the key nature dependencies, and created a risk and opportunity register to prioritize nature-related risks and opportunities at both project and corporate levels, aiming to help Swire Properties and Gammon integrate nature risks and opportunities into corporate governance, strategy, risk management, and decision making.

Drawing on the Science Based Targets Network’s Action Framework, the students also developed a suite of nature-positive strategies tailored to the different project stages—from design and planning, material sourcing, construction, to operations and maintenance. These strategies provide a pathway to avoid and reduce negative impacts, restore and regenerate ecosystems, and finally transform underlying systems to tackle the root causes of nature loss. The strategies emphasize the critical role of cross-value chain collaboration between real estate developers, main contractors and suppliers in creating resilient, nature-positive communities.

Prof. Arthur LAU, Associate Dean (Undergraduate Studies) of the Academy of Interdisciplinary Studies (AIS) and Professor of Interdisciplinary Education of the Division of Environment and Sustainability (ENVR) at HKUST, remarked, "This collaboration with Gammon, Swire Properties, and AXA Climate showcases our students' ability to translate classroom theory into practical solutions for real-world sustainability challenges. They are empowered to make meaningful contributions to the ongoing dialogue on sustainable development. By working side-by-side with industry professionals, they have gained invaluable experience in navigating complex issues and opportunities, equipping them with the skills, confidence, and vision to lead the next generation of sustainability efforts."

Ms. Quiana LO, a Year 4 EVMT student, shared, "This capstone project offered us a unique opportunity to work closely with corporates through data sharing, technical consultations, and site visits, ensuring our analysis not only reflected actual industry practices but also addressed real-world sustainability challenges."

Ms. Nicole LAU, a fellow team member, added, “This experience profoundly enriched our learning journey at HKUST and highlighted how hands-on experience equips us to make meaningful contributions toward a nature-positive future."

Mr. Eddie TSE, Group Sustainability Manager at Gammon, stated, "As Hong Kong’s first TNFD adopter in the engineering and construction services sector, Gammon is proud to collaborate with our partners to nurture the next generation of sustainability leaders through real-world projects. We were impressed by the HKUST students’ insightful work in integrating nature-positive strategies into our business. This partnership reflects our sustainability strategy United Ambitions to drive transformative change toward a net-zero, nature-positive, and equitable future, and we look forward to continuing such collaborations that advance sustainability across our industry."

Mr. Patrick HO, Head of Sustainable Development at Swire Properties, and one of 40 TNFD Global Taskforce members, said, "Through this Capstone Project, HKUST students adeptly applied TNFD sector guidance to a real-world development initiative, successfully identifying key nature-related impact and dependencies along the value chain of the development project. We were delighted to support their practical study by offering information about Six Pacific Place, our newest addition to the Pacific Place office portfolio. This initiative underscores our dedication to empowering youth through knowledge sharing, and showcasing the high quality of their work."

Mr. Paul LEFEBVRE, Nature & Biodiversity Consulting Lead at AXA Climate, commented, "As a global leader in climate and nature risk advisory, AXA Climate has guided HKUST students in applying the LEAP approach to identify nature-related risks and opportunities in a real-world context through this Capstone Project. The students' insightful work not only demonstrates their innovation in sustainability but also exemplifies our dedication to advancing nature conservation by equipping stakeholders—from industry leaders to emerging talent—with the tools needed for effective decision-making."

About the Taskforce on Nature-related Financial Disclosures
The Taskforce on Nature-related Financial Disclosures (TNFD) is comprised of 40 business and finance leaders from around the world and was launched in 2021 with the support of the G20. TNFD provides recommendations and guidance for market participants and other stakeholders about how nature beyond climate should be assessed, managed and reported. It has built a global movement of support and action, including over 730 organizations and over USD 22 trillion in assets under management (AUM) now committed to reporting their nature-related issues aligned with the TNFD recommendations published in September 2023. The TNFD recommendations build on the previous approach and recommendation of the Task Force on Climate-related Financial Disclosures (TCFD) and are aligned with the impact standards of the GRI, the European Union’s Corporate Sustainability Reporting Directive (CSRD) and the sustainability reporting standards of the International Sustainability Standards Board (ISSB).