Swire Properties Limited

SCA 2018 Developer (Private Sector) - Silver Award

One Taikoo Place has been designed and constructed with sustainability at the centre throughout the whole project lifecycle. Taking an integrated design approach, the project adopts many innovative initiatives targeting to reduce climate change impacts and optimise resource efficiency. It has achieved Platinum pre-certification in LEED, BEAM Plus and WELL. Using a generator fuelled by biodiesel made of 100% waste cooking oil, the project is the first commercial office tower in Hong Kong to use a waste-to-energy trigeneration system. In addition, the project also adopted sustainable construction approaches including total system formwork, modular construction, off-site prefabrication, reusing existing caissons and CIClabelled ready-mix concrete.

One Taikoo Place has incorporated, from its initial conception to its design and construction, the concepts of innovation and experimentation that underpin our SD 2030 Strategy. We have sought to expand our focus beyond the direct impact of the building and to reduce climate change impacts and optimise resource efficiency. High performance sustainable building framework were embedded in the heart of project team to make One Taikoo Place the greenest commercial building in Hong Kong.

The project team has integrated cutting edge technologies (3D Scanning, Virtural Reality, and Artificial Intelligence) with BIM System throughout whole building lifecycle, which virtualizes design development, increases overall productivity, and facilitates furture buiding operation. Virtualizing the design and digitizing the construction with the aim of Virtual Reality and 3D Scanning technologies significantly increase the productivity through efficient construction planning and minimizing design change and clashes. The project team also successfully apply Artificial Intelligence Technology in self-developed software, Gambot, which automates engineering planning and simulation, and achieve document digitization.

Innovative mechanical device - Zero Gravity (ZeroG) Arm is being applied to reduce stress and improve the productivity of our workers during prolonged drilling and fixing works at ceiling. Our workers with Exoskeleton Suit are able to lift heavier loads and carry out general construction work comfortably over long periods of time. The adoption of Virtural Reality (VR) tool allows a first person experience with 3D head mounted display glasses for detailed design & construction coordination. This tool is extended to safety training for our workers, engineers and supervisors to understand falsework inspections and the recognition of defects more effectively

About the Model

The HKSAR Chief Executive had announced in the 2017 Policy Address to position Hong Kong as an Asia’s green finance hub for raising green capital. In view of the substantial GDP contributed by the construction sector annually, the construction industry has a high potential to meet the trend of green finance. Thus, there is a need to well define the green standard and system to facilitate the application of green finance in construction industry.

The Model aims to act as an interactive guide on environmental practices and advanced technologies for construction projects which is compatible with international green bond/loan principle. Green finance can mobilise capital for green and low carbon investments in the construction industry. Public owners, developers, contractors and suppliers could issue green financial instruments for funding their projects with reference to the guideline of this model.

Interactive guide to classify construction practices based on green finance principle

Interactive guide to classify construction practices based on green finance principles

User-friendly model for set up its own checklist and sustainability KPIs

User-friendly model for set up its own checklist and sustainability KPIs

Sustainable hub to share latest local and intentional solutions

Sustainable hub to share latest local and international solutions

Why the Industry Needs Green Finance?

  • Green finance providing benefits for assisting the transition from the ‘brown’ to the ‘green’ construction.
  • Green finance can mobilise capital for green and low carbon investments in the construction industry
  • Stakeholders can seek opportunities for long pay back initiatives and low interest rates when adopting advanced and innovative measures.
  • To encourage investors from the Mainland along the Belt and Road as well as international investors to arrange green financing through Hong Kong construction capital markets.

Components of Green Bond/Loan Principles

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Green bond/ loan proceeds are to be applied for environmental (or “green”) projects with an indicative list of eligible project categories. See the figure below for the 10 eligible Green Project Categories.

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Recommends issuers/ borrowers to disclose their overall green objectives, the process used to determine eligibility of green projects, and the process to manage environmental and social risks of these projects.

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The net proceeds of the Green Bond/ Loan, or an amount equal to these net proceeds, should be credited to a sub-account, moved to a sub-portfolio or otherwise tracked by the issuer/ borrower in an appropriate manner, and attested to by the issuer/ borrower in a formal internal process linked to the issuer’s/ borrower’s lending and investment operations for green projects.

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Recommends annual reporting of the amounts allocated and results of the eligible green projects.

Green Project Categories

Key Features

no. of sustainability measures compatible with international green bond and green loan principle
41
no. of sustainability measures compatible with international green bond and green loan principles
no. of stakeholders and green finance experts engaged
162
no. of stakeholders and green finance experts engaged
no. of pilot projects
30
no. of pilot projects

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