[Press Release] Hong Kong Green Building Council’s Response to 2023/24 Budget
The Council is delighted to see the Government actively building Hong Kong into an international centre for green technology and finance, seizing the opportunities brought by our country's dual carbon strategies, leveraging our strengths under "One Country, Two Systems" and as an international financial centre, and strengthening the training of green and sustainable finance talents to enrich the green finance ecosystem of Hong Kong.
The Council supports the Government to set out the following initiatives to further facilitate the development of green and sustainable finance:
- To issue $15 billion of retail green bonds, enhancing the public awareness towards green consumption and green lifestyle.
- Set up a Green Technology and Finance Development Committee to formulate an action agenda covering green technology, green finance, green standard certification, etc. An International GreenTech Week will be organised at the end of this year.
- Proceed in five directions, including building a green technology ecosystem to attract top-notch enterprises or start-ups to set up their operations, green finance application and innovation, green certification and alignment with international standards, training for talents; and enhancing the exchange and co-operation with the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and international markets. The Council has been committed to enhancing the exchange with cities in GBA and actively promoting the green building development. A large-scale conference, “Greater Bay Area Sustainable Built Environment Conference 2022”, was held last year to promote sustainable development and carbon neutrality in the Greater Bay Area. The Council has also signed two memorandums with Greater Bay Area recently, one for Cooperation on Retro-commissioning and another for Cooperation on Building Energy Saving Retrofit.
Green Building and Application of Innovative Technology
The Council is delighted to see the Government initiated the following measures, strengthening the promotion of innovative technologies in the construction industry and promote the use of Modular Integrated Construction (MiC) to improve energy efficiency and advancing the goal of net zero:
- To earmark $15 million for studying and putting in place measures to strengthen the supply chain of the Modular Integrated Construction (MiC) modules.
- To conduct a study on the construction of the first advanced construction industry building at a site of about three hectares in Tsing Yi, carrying out planning and preliminary design work as well as advising on its mode of operation.
The Council welcomes the Government to set out an additional $62 million for food waste collection to cover more premises, and extending the food waste collection trial scheme for public rental housing estates. The Council also supports the new funding initiatives on new energy transport to turn the electric vehicle and electric public transport to be more accessible.
Waste management and electric vehicle charging facilities have always been included in the assessment of BEAM Plus. The new measures by the Government can help reduce carbon emissions and waste, create a healthy living environment, which further enhances Hong Kong to become a green city.
Hong Kong is making vigorous efforts to achieve carbon neutrality before 2050. The Council welcomes the Government to form the Council for Carbon Neutrality and Sustainable Development to advise the decarbonisation strategies. Existing buildings take up a very large proportion of local current building stock which offers massive potential for energy savings, mainstreaming retrofitting becomes more important. As a bridge connecting the public, the industry, and the Government, HKGBC will continue to raise the awareness of green buildings, energy saving and carbon reduction by promoting BEAM Plus and Green Product Certification, while promoting retro-commissioning and retrofitting to the industry. The Council has launched Hong Kong’s first Retrofitting Guidebook earlier this year, hoping to help the industry plan and enhance the energy efficiency of existing buildings, reduce carbon emission to create a greener building environment for Hong Kong, and achieve the carbon reduction target.
About the Hong Kong Green Building Council (HKGBC)
To learn more about the HKGBC, please visit www.hkgbc.org.hk.
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