CHOI Ho-kin, Tommy - Gammon Construction Limited

SCA 2018 Young Practitioner - Outstanding Award

The works involve the construction of two 29-storey residential towers on a four- storey podium with a one-level basement. The two towers will be home to 493 units, the GFA will be around 24,400 square metres, on a site area of 2,711 square metres.

The latest lean construction innovation Building Information Modelling (BIM) adopted to enhance the project’s environmental friendliness and construction efficiency. The project aims to meet the most stringent Building Environmental Assessment Method Platinum standard.

Gambot

Colleagues report any problem such as observation that may cause potential danger to the workers, as well as environmental and quality issue. The project can inform all frontline staffs via the apps which they can receive up-to-date information. The project proposes mitigation measures to lessen the risk and provide better working environment to the workers.

Since then, safety awareness is raised among workers which lead to healthier, safer, and more productive environment.

Regular Meeting

Any discrepancy between the installation detail and design model will be informed on-site and also in coordination meeting which ensures the work quality and helps to meet the tight construction program.

Supply chain is one of issues during the meeting to prevent any materials accumulation which helps to lessen the burden of the congested site area.

Morning Assembly

All staff can get the first-hand information and assess the potential dangers of work in morning assembly every day. Everyone can raise opinion and concern during assembly.

Besides, warm up exercise will be carried out to get ready for the later work.

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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