LEE Chi-yung - Shui On Construction

SCA 2018 Construction Manager - Outstanding Award

This project will construct 5 blocks of quarter buildings ranging from 29 to 31 storeys on a 3-level high carpark podium for Hong Kong Police Force in Fanling. As site formation work had generated large amount of excavated soil, it had applied to transport those inert waste to the previous SENT and other construction sites, over 70% of the waste had been reused. Also, different types of noise barriers had been erected during piling works to reduce nuisance to the neighbour. Moreover, the project will adopt precast construction units for typical floors, including façade, staircase, etc. to maximize standardization and reduce waste generation.

A 6 metres high and around 90 metres long metal “container baffle” had been erected at the northern side of the site. It not only acts as sub-contractors’ office, but also acts as fixed noise barrier to reduce nuisance to the villagers. After testing with a sound level meter, this setup can reduce around 10dB during piling installation.

The helmets were reused as pots for plants and mounted on site hoarding in order to promote the image of construction site by providing a better environment for the public. This activity had aroused the concerns of the neighbour and photos were posted by them on a social networking site and it finally caught the attention of the media.

Being a considerate contractor, and in response to the request from District Council Member and social workers of Hong Kong Lutheran Social Service, the project had arranged the voluntary site staffs to clean up the fallen trees and broken branches that blocked the major assess near the site after lowering down of the super typhoon Mangkhut.

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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