May-2019

Swire Properties Takes a Step Forward on Combating Climate Change

2 weeks to go for nomination of Green Building Award 2019 and Join as Sponsor to support the green building movement!
“My Green Space” Green Building Competition for Schools 2018-19: My Green Existing Buildings Launch of CIC Green Product Certification Profits Tax Incentive Related to BEAM Plus

Swire Properties Takes a Step Forward on Combating Climate Change

Swire Properties recognises that climate change poses significant risks and opportunities to the business. Guided by their newly adopted Climate Change Policy, Swire Properties is committed to communicating their management approaches and strategies for climate mitigation, adaptation and resilience to their stakeholders.

Swire Properties recently launched “Sustainable Development (“SD”) Report 2018” included a new section on Climate-related Financial Disclosures, providing information to their investors, lenders, insurers and other stakeholders about climate change impacts on the business with reference to the recommendations of the Task Force on Climate-related Financial Disclosures (“TCFD”).

Aligned with the recommendations of the TCFD, they are conducting a climate risk assessment to identify and evaluate key risks posed by climate change to their business operations, as well as business opportunities arising from new climatic conditions. 

Green building is one of the key solutions to combat climate change, and Swire Properties is committed to developing certified green buildings that are energy efficient and low carbon by design and in operation, as well as climate resilient. As part of their SD 2030 Strategy, they strive to achieve the highest green building assessment scheme rating for all projects under development. As of December 2018, 100% of their projects under development (excluding joint-venture projects) have achieved the highest green building certification ratings. 92% of all existing buildings are certified green buildings, of which 75% have achieved the highest ratings.

Buildings received BEAM Plus certification in 2018:
 

• Final Platinum (Existing Buildings Version 2.0 – Comprehensive Scheme)
  28 Hennessy Road, Three Pacific Place, Citygate Outlets, One Citygate, One Island East, Cambridge House, Dorset House, Devon House, Oxford House, PCCW Tower, Cityplaza One, Cityplaza Three, Cityplaza Four, and Cityplaza mall
   
• Final Platinum (New Buildings Version 1.1)
  ALASSIO

Swire Properties also plan to reduce carbon emissions in line with long-term targets, and work towards achieving international decarbonisation objectives. As a result, the company has committed to Science-Based Target initiative (“SBTi”) in 2018, which is the first real estate company in Hong Kong to commit to SBTi. They began work on establishing new science-based targets for their business in accordance with SBTi criteria.

As their largest source of carbon emissions is Scope 2 emissions arising from purchased electricity, the company’s management approaches to climate change mitigation and energy are closely aligned. In addition to improving the energy efficiency of their buildings, they also aim to generate electricity from renewable energy sources in selected developments. For instance, at their newest office tower, One Taikoo Place, a tri-generation and adsorption chiller system with biodiesel converted from used cooking oils collection from tenants and a combined solar PV system and green roof have been installed.

You may click HERE to learn more details from Swire Properties’ Sustainable Development Report 2018.

 

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2 weeks to go for nomination of Green Building Award 2019 and
Join as Sponsor to support the green building movement!

The nomination deadline for the Green Building Award 2019 (GBA 2019), one of the highest accolades in Hong Kong’s green building industry, is 2 weeks away! Grab the chance to be recognised with your outstanding building-related projects, as well as the excellent performance and contributions in sustainability as a green building leader. With the theme of ‘Inspiring the Next Generation • Excellence in Sustainable Built Environment’, we are looking for nominations which go beyond the conventional practice, stretch their boundaries in advancing sustainability, and are capable of inspiring the next generation on how our future built environment could be. The nomination opens till 17 June 2019 noon. Please click HERE to nominate now! Don’t wait to submit your nomination!

Meanwhile, join us as Sponsor to show your commitment in fostering the development of sustainable built environment while enjoying effortlessly the extensive exposure! Please click HERE for more details of the Sponsorship Packages.

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 “My Green Space” Green Building Competition for Schools 2018-19: My Green Existing Buildings

The seventh edition of the “My Green Space” Green Building Competition for Schools has come to an end. The Award Presentation Ceremony was held on 4 May 2019 at the Education Bureau Kowloon Tong Education Services Centre to recognise the winning students for their outstanding performance.

 

At the early stage of the Competition in November 2018, the Council had organised some green building tours and workshops for the participants including visiting a BEAM Plus building and learning to use an architectural drawing software. Thus the winners were able to apply the knowledge into their works, which show a good understanding on green building concepts and some even incorporated social issues. For example, the Champion of Junior Primary Division suggested an improvement work at the Queen Mary Hospital with the idea of greening the environment and the establishing direct access between the Housemen Quarters and the wards.  The student hoped that the doctors could have more rest time by shortening the walking distance within hospital buildings. On the other hand, the Champion of Senior Secondary suggested the installation of green technology facilities at the rooftop of the Hong Kong Science Museum, which was vacant at the moment. Not only could it expand the space of the Museum but also it could be used for public education purpose.   All winning entries have been exhibited to public from 6-16 May 2019. In order to enhance the understanding of green building among all primary and secondary school teachers in Hong Kong, with the support of Education Bureau, a sharing seminar will be arranged on 26 June 2019. The winning students with their teachers will come to share their successful cases and to encourage more participation of the next round Competition.

 
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Launch of CIC Green Product Certification

We are pleased to announce the unification of the Carbon Labelling Scheme (CLS), administered by the Construction Industry Council (CIC), and HK G-PASS, managed by the Hong Kong Green Building Council (HKGBC). The CIC Green Product Certification, the new brand of the unified scheme, will be the leading building and construction products / materials certification scheme serving the Hong Kong construction industry. The scheme is owned by CIC and operated by HKGBC. The overarching objective is to have a comprehensive scheme taking into consideration of a wide spectrum of aspects such as carbon footprint, greenhouse gases emission, energy / water efficiency, recyclability, and minimal use of irritating, harmful and toxic materials throughout the products’ life cycle. This scheme will better enable building and construction practitioners in making informed decision on selection and procurement of products and materials with minimal environmental impact. The ultimate aim is to transform Hong Kong into a greener built environment. 

Through the schemes unification and joint force between CIC and HKGBC, we will maximise our resources to lead the CIC Green Product Certification into a new era as the prime products / materials certification standard in the Hong Kong construction industry.

In order to provide a smooth transition, the unified scheme will enter into a transition period lasting from now until end of December 2019. An interim website facilitating this transition phase is up and running to provide precise details of this scheme.

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Profits Tax Incentive Related to BEAM Plus

Starting from tax year 2018/19, capital expenditure incurred for procuring energy efficient building installations in BEAM Plus certified premises can be deducted in full in one year. The Inland Revenue Departmental Interpretation and Practice Notes No. 5 has been updated in April 2019 to set out the Inland Revenue Department’s interpretation and practice on the provisions relating to the accelerated tax deduction.  BEAM Plus project owners may refer to Paragraphs 43 to 48 of the Practice Notes to understand more about the tax deduction mechanism.

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