CRBC - Build King Joint Venture

SCA 2018 Contractor in New Works - Bronze Award

Construction work of a dual two-lane highway (Road P2) of approximately 600m of the highway with approximately 200m of the depressed carriageway is covered by landscape deck.

  • To reduce the potential impact on the environment, the reclamation area is separated by a temporary steel cofferdam and double watergate
  • To install floating breakwater at the southern edge of the temporary steel cofferdam before the upcoming typhoon season
  • To apply sustainable recycling system to fully utilize the natural resources and reduce to use of energy

Temporary Steel Cofferdam

The reclamation area is separated by a temporary steel cofferdam. All dredging and filling works will be carried out inside the temporary steel cofferdam. This is the first time to adopt this reclamation method in Hong Kong.

Double Watergate System

To minimize sediment loss to the open sea, all barges entering and leaving the temporary cofferdam will be controlled by the double watergate system.

Floating Breakwater

Floating breakwater comprises individual polygon shape modules and assembles about 1.8m high and 2.8m wide. This unique polygon shape is beneficial for wave attenuation and protect the temporary steel cofferdam. This is the first time to adopt floating breakwater in reclamation works in Hong Kong.

Carbon particles filtering tanks have been installed on derrick barges to reduce dark smoke emission. Emission of smoke from plants with carbon particles has to pass through the tank filled with mixture of water and soda powder prior to emission from outlets. Carbon particles will be retained mixing with water inside of the tank.

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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