New World Development Becomes Asia’s 3rd Real Estate Developer with Approved Near-term SBTs and SBTi Net-Zero Commitment
Link Asset Management Limited Published Sustainability Compendium 2021/2022 – Growing Beyond
[Green Building Award 2021 – Sponsor’s Message] Hang Lung: Innovation for a Sustainable Built Environment
[Green Building Award 2021 – Sponsor’s Message] Sino Land Announces Holistic Decarbonisation Blueprint
HKGBW 2022 “10 out of 10 for Green Building KOL Video Competition” - Call for Submissions!
List of BEAM Consultants Now Available Online
New World Development Becomes Asia’s 3rd Real Estate Developer with Approved Near-term SBTs and SBTi Net-Zero Commitment
New World Development (NWD)’s near-term 1.5°C aligned science-based targets (SBTs) have received approval from the Science Based Targets initiative (SBTi). Additionally, the company has committed to the SBTi Net-Zero Standard, which includes setting long-term company-wide emission reductions to achieve science-based net-zero before 2050.
NWD’s SBTs cover the Group’s major properties and construction activities in Hong Kong and the Chinese mainland. SBTi’s validation of the near-term targets and the Group’s commitment to net-zero are major milestones of NWD’s long-term strategy, which mark its clearly-defined path to reducing carbon emissions in line with the Paris Agreement goals.
The Group is committed to reducing by FY2030 (from a FY2019 base year)
- Absolute Scope 1 and 2 GHG emissions by 46.2%;
- Scope 3 GHG emissions from capital goods by 22% per sqm of construction floor area; and
- Scope 3 GHG emissions from downstream leased assets by 29.8% per sqm of gross floor space
Continuing its commitments to the Business Ambition for 1.5°C and the Race to Zero Campaign of the UNFCCC, NWD strives to mitigate the worst impacts of climate change and increase resilience as a future-proof business. It will also actively work to actualise the near-term SBTs by 2030, establish long-term targets that align with the SBTi’s net-zero criteria by FY2024, and achieve net-zero by 2050.
Link Asset Management Limited Published Sustainability Compendium 2021/2022 – Growing Beyond
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The following are some of the Report's highlights:
- In May 2022, Link committed to align its climate goals with SBTi Net Zero Standard, increasing the robustness of its Net Zero 2035 Strategy. Recognising flood risk as a key physical risk to its portfolio, Link conducted a coastal threat analysis for its Greater Bay Area portfolio to increase preparedness and better allocate flood resilience resources. Link has aligned its climate disclosures to the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and the International Sustainability Standards Board (ISSB).
New Sustainable Finance Framework
- Link’s new Sustainable Finance Framework requires all its future sustainability-linked finance transactions to include KPIs under each of the ESG areas. In March 2022, Link executed a HK$12 billion sustainability-linked loan with ambitious KPIs on rolling out green leases, promoting upward social mobility through local employment and upgrading its Net Zero Strategy in pursuance of the SBTi Net Zero Standard. The transaction was supported by 16 Hong Kong and international banks and was the largest of its kind in the real estate sector and among REITs in Asia.
Strengthened Sustainability Strategy and Governance
- Link’s sustainability strategy and governance were strengthened by the addition of ambitious new short-term corporate sustainability goals, the completion of an updated integrated materiality and risk assessment, and the development and updating of a number of sustainability-related policies and procedures.
Link’s Pathway to Net Zero Carbon Emissions by 2035
Sustainability Strategy and Sustainability Focus Areas
Link’s vision is to be a world class real estate investor and manager serving and improving the lives of those around us. Using the “Business as Mutual” mindset, the company actively engages with stakeholders across the value chain to continually identify and update themselves on sustainability issues that are material and relevant to its business. This process helps Link formulate and prioritise its sustainability focus areas under Environmental (E), Social (S), Governance (G) and to integrate these into its business activities. By setting long term targets and working on improvements and initiatives under each of the sustainability focus areas, Link strives to realise its vision and make positive impact on society and the environment.
For details, please check out Link Asset Management Limited Sustainability Compendium 2021/2022.
[Green Building Award 2021 – Sponsor’s Message] Hang Lung: Innovation for a Sustainable Built Environment
At Hang Lung, innovation in construction is not just about using technology to improve efficiency and reduce costs, but also to enhance collaboration, quality control, and site safety, to achieve environmental sustainability with less wastage and improvement in the environmental quality of construction site — all for the good of a sustainable built environment in support of our vision to create compelling spaces that enrich lives by embracing technology.
BIM Application
Since 2018, the Company set up the BIM Taskforce to standardise and enhance the adoption of Building Information Modeling (BIM) in new projects under development. To date, BIM has been used in all Hang Lung’s projects under development and major renovation projects in Hong Kong and mainland China, with over 20,000 cases of design conflicts detected and resolved. To increase the exposure of innovation in construction for project implementation, the Taskforce has been renamed to Construction Innovation Taskforce this year, and is exploring further on extending the usage of BIM in construction premises.
Eagle Eyes offsite mock-up BIM visualisation
Digital Quality Management System
Given the mega scale of most of its projects and considering the risks associated with paper-based inspection records, Hang Lung is among the first companies that has fully adopted Digital Quality Management System (DQMS) for construction workflow inspection and quality management in mainland China and Hong Kong since 2019. The platform is paperless, enabling real-time collaboration between different project stakeholders and traceability of workflow progress, defects logging, and submission of rectification records via mobile devices in site premises, with no modification can be made once a record is submitted. Thus, efficiency, project quality and safety can be improved while authenticity can be ensured.
DQMS allows users to trace the progress of each workflow, log construction defects and submit rectification records real-time via mobile devices at the construction premises
Currently, DQMS has been adopted in six projects under development – four in mainland China and two in Hong Kong. More than 20,700 inspections have been completed via DQMS to-date.
Innovative Environmental Measures
At Westlake 66 in Hangzhou, a huge project currently under construction, the Company has implemented a tranche of tech-driven innovative measures to protect the surrounding environment. Among the initiatives are the installation of a 5,000-square-meter windproof and dustproof mesh with noise isolation capabilities, and a sprinkler system in Zone C of the construction site to reduce air and noise pollution. 5G technology is also deployed to monitor, among other things, construction safety and quality, energy consumption, and dust and noise levels to ensure that environmental indicators in the construction stage meet related requirements.
Windproof and dustproof mesh with noise isolation capabilities
[Green Building Award 2021 – Sponsor’s Message] Sino Land Announces Holistic Decarbonisation Blueprint
In its most recent effort, the Group has unveiled its Decarbonisation Blueprint to achieve net zero carbon by 2050. Following extensive research with HKUST to devise specific decarbonisation strategies, the holistic blueprint focuses on three key areas, namely development, operations and collaboration, with interim targets including –
- Science-based Target of reducing 53.1% Scopes 1 and 2 GHG emissions per square metre from the 2018 baseline and setting a new target to reduce Scope 3 GHG emissions in line with Science-based Targets Initiative (SBTi) methodology;
- reducing in electricity consumption intensity by 30% from the 2018 baseline;
- conducting climate risk assessments at Sino Land’s wholly-owned new development projects, where applicable, and
- obtaining BEAM Plus Gold or above certification at all of Sino Land’s wholly-owned new development projects, where applicable.
In addition, climate risk assessment has been conducted to evaluate climate resilience of the Group’s 170 properties in Hong Kong, in alignment with recommendations from the Task Force on Climate-related Financial Disclosure, enabling the Group to make progressive strides towards a more climate resilient and sustainable future.
HKGBW 2022 “10 out of 10 for Green Building KOL Video Competition” - Call for Submissions!
An annual public campaign co-organised by the Construction Industry Council (CIC) and the Hong Kong Green Building Council (HKGBC), the Hong Kong Green Building Week (HKGBW) is celebrating its 10th anniversary this year. The campaign, themed “10 out of 10 for Green Building. Carbon Neutrality by 2050!”, will be officially launched on 24 September.
To echo this year’s theme, HKGBW 2022 has highlighted 10 crucial green building elements, such as Smart Energy Design and Renewable Energy, and offers a diverse line-up of activities in which the public can participate to celebrate HKGBW’s 10-year milestone. As the opening programme of HKGBW 2022, the “10 out of 10 for Green Building KOL Video Competition” is now calling for submissions until 14 August.
The Competition consists of a Student Group, an Open Group, and a Parent-Child Group. Designed to encourage the public to learn about the importance and benefits of green buildings, entrants are invited to act as green building KOLs to capture the beauty of green buildings and introduce their sustainable features in videos of up to three minutes in length.
A free online video production workshop was successfully held on 23 July with around 50 participants who were eager to boost their creativity and filmmaking skills. Mr Penny CHENG, an experienced advertising director and founder of the Penny Limited, and popular YouTuber Mr Jonathan CHEUNG (Jon Jon), interacted with the participants and shared their experiences in filmmaking as well as offering practical tips for video production.
Click HERE to rewatch the video production workshop.
Hurry, the registration deadline is fast approaching! Don’t miss the chance to explore local green buildings with your camera and win fabulous prizes, including a Disney Premier Access & 1-Day Ticket Combo, Apple iPad, Staycation Package at The Emperor Hotel, GoPro Action Camera, Fujifilm Instax Link Wide Printer, Marshall Portable Bluetooth Speaker and more!
HKGBW 2022 has many other inspirational events planned for the months ahead. Please stay tuned to the campaign website!
List of BEAM Consultants Now Available Online
To assist BEAM Plus applicants to search for consultancy companies that have experience in BEAM Plus certification, a list of related companies has been compiled for public reference. Unlike the individual-based BEAM Pro Directory, which includes in-house staff of various project owners, the new list only contains consultancy companies that actively provide services to the industry. Check out the list HERE.
Besides, the same directory can also be found in the website of “BEAM Plus Existing Buildings” to help developers and owners of existing buildings to more easily identify the appropriate consultancy companies and contractors for the transformation of their buildings. Click HERE for more details.
List of Companies with BEAM Plus Service Records