• Hong Kong Green Building Council’s Response to 2021/22 Budget

    25 February 2021

    (24 February 2021, Hong Kong) The Hong Kong Green Building Council (HKGBC) welcomes the Financial Secretary’s initiatives on green and sustainable finance, decarbonisation and waste reduction favourable to create a healthy living environment in the 2021/22 Budget released today.


    Green and Sustainable Finance

    The Council welcomes the Government in encouraging institutions to conduct green and sustainable relevant investment, financing and certification activities; planning to issue green bonds regularly and expanding the scale of the Government Green Bond Programme. Thereby the initiatives further enrich the green finance ecosystem in Hong Kong as well as strengthen Hong Kong’s position as a premier green and sustainable hub in the region.

    The Council will continue to encourage green bond issuers to participate in BEAM Plus assessment for third-party certifications on building projects’ environmental performance, which would greatly enhance the attractiveness of green financial instruments.

    Decarbonisation and Waste Reduction – Creating a Healthy Living Environment

    The Council supports the Government to set out the following initiatives to reduce carbon emissions and waste, and to create a healthy living environment, for pushing forward green living and building a sustainable city.

    • To set aside $150 million to conduct energy audits and install energy-saving appliances, free of charge, for NGOs subvented by the Social Welfare Department;
    • To earmark $1 billion as subsidies for buildings with relatively low rateable values to carry out drainage repair or enhancement works;
    • To set aside an extra $1 billion for government buildings and infrastructure to install additional small-scale renewable energy systems;
    • To inject an additional funding of $1 billion to the Recycling Fund for fostering local recycling activities;
    • To encourage the replacement of conventional fuel-propelled private cars with electric vehicles (EVs) by launching “One-for-One Replacement” Scheme and setting up EV charging-enabling infrastructure.

    The HKGBC is looking forward to the update of the Clean Air Plan for Hong Kong by the middle of this year to set out long-term goals and strategies to reduce carbon emissions. The Council has been continuously working with the Government and leading the industry to accelerate the decarbonisation of Hong Kong’s built environment and move forward to achieve carbon neutrality by 2050.

    To learn more about the HKGBC, please visit www.hkgbc.org.hk.

    More Opinion & Interviews
    Response to the Budget 2021 by Cushman & Wakefield
    Response to the Budget 2021 by KK Chiu, International Director, Chief Executive, Greater China of Cushman & Wakefield:  Land Supply: Volume of under-developed land in the New Territories is still massive. We recommend the government to further embrace Public-Private-Partnership (PPP) model to development under-utilized farmlands. Incentive through land [...]
    Colliers’ resposne to the Hong Kong SAR 2021-22 Budget
    The Financial Secretary has announce the Hong Kong SAR 2021-22 Budget today. Please find below response from Hannah Jeong, Head of Valuation & Advisory Services, Colliers International: Residential Land Supply: The 2021-22 Budget proposes that under the government land sale programme, added with the MTR and URA projects, as well as private development and redevelopment projects, the [...]
    CBRE’s Comments on Hong Kong SAR Government’s Budget 2021/2022
    Marcos Chan, Head of Research, CBRE Hong Kong: The further reduction in private residential units offered under government development sites signals the potential shortfall in the medium-term residential supply in and around 2025-2027. The government expects only an average of 18,000 private residential units to be completed in each of the next five years, lower than the 19,600 units given [...]
    How digital technology improves construction projects
    By Mathilde Roubille, Digital Engineering Lead at Atkins; SY Liu, Digital Transformation Lead at Atkins; Mark Doel, Digital Solution Manager at Atkins; At its root, digital enablement relies on information. Engineering design produces rich sources of data beginning with the bid process and continuing throughout all the design phases, including 3D models and smart data from 4D construction [...]
    Q&A on Modular Integrated Construction (MiC) with Albert Leung, Senior Technical Director of Atkins’ Hong Kong Office
    Can you outline the unique aspects of MiC and why organisations in our industry should adopt it? My own belief is that Modular integrated Construction is an important step forward for the industry and is particularly important in a market such as Hong Kong where construction tends to be a transient fixture. In essence, MiC is a process in which a building is constructed off-site, under a [...]
    Influencer Q & A with Simon Fallon
    (按此瀏覽中文版) What is the key advantage of repurposing Hong Kong’s old building stock? Since the 1950’s Hong Kong has generally renewed its buildings almost every 50-60 years. With ever increasing demand for space and scale of modern commercial and residential developments, new developments can have adverse impacts both on the local built context, the heritage character and how [...]
    Balance is the new normal: Part 1. Education
    During this time of pandemic-driven lockdown, we have witnessed a remarkable evolution in education that had typically been delivered through traditional teaching methods and environments. In schools and universities across the world, classrooms, dining halls, gyms, theatres and the ancillary paraphernalia that support teaching masses of individuals through timetabled lectures and classes [...]
    Balance is the new normal: Part 2. Hospitality
    “Your cabin crew is here for your safety” is a familiar sounding sentence to many frequent flyers whom, over the past few weeks (if not months), may have longed for such an utterance as they remained locked down in their homes. If they are like me, they may be itching to get onto that first flight to (_____), feel the comfort of a blanket, a cold glass of something sparkly and the [...]
    Balance is the New Normal: Part 3. The Workplace
    “The King is dead. Long live the King”. So goes the obligatory proclamation made at the passing of a monarch, and the installation of an heir to the throne. Over the past few weeks, similar utterances have been mentioned about the ‘death of the workplace’. But is the office dead; and is the home office truly the rightful heir and successor? Monarchs were created through feudal [...]