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2.3.2 Putting Things into Perspective
Changing emphasis along the roadmap
The sequential modular approach of this
roadmap highlights the shift in allocation of
resources. At the first stage, the focus is on
professional training towards the realisation
of benchmarking. While at the second stage,
it shifts towards technical implementation.
Financing becomes critical in the second
stage when the bulk of the investment in
physical upgrade occurs. It is at this stage
that we need large-scale funding through
GFA incentives, funds, loans, ESCOs,
which will also require professionals fluent
in the finance of green buildings. The
implementations of energy/carbon markets
(tax/rebates/trading) will be feasible at
this stage, after a consistent framework of
benchmarking is established.
Financing the transformation
Cost benefits are obviously the major driver
in the transformation of green buildings,
and the study has highlighted many areas
that require further studies. In particular,
two areas are considered as part of the
critical initiatives and are given further
considerations in the executive summary.
• The first is GFA concession scheme,
which has been identified as the most
significant form of incentive for new
buildings. The key steps include
an establishment of a minimum
performance and a realignment of
incentives; and
• The second is the creation of a market
for retrofitting, that involves first
establishing a business case by laying
down the framework of reporting/
benchmarking in order for an eco-
system of energy efficiency loans and
performance contracts to thrive, then a
possible enhancements through market
means such as tax, rebates, or trading,
so that some initiatives that are not
immediately profitable on their own can
become so.
The executive summary is the direct result of the “Research on Market Transformation of Green
Buildings in Hong Kong”, where an extensive international review, detailed quantitative analyses,
and specifics of the initiatives are presented.
While we have been explicit on the technical aspect and sequence of events, the exact calendar
scheduling and issues on costs have been left intentionally vague. As much as we would like, it
is beyond the realm of this consultancy for it will require a much more detailed study involving
many other stakeholders, such as policy makers and financiers. However, we do hope that
the executive summary will prompt a series of discussions that will ultimately lead to a more
comprehensive plan.
The intention of the executive summary is for stakeholders to use this roadmap to gain a better
appreciation of the scale and impact in the challenge of achieving HK3030. Laid out in this
form, we see how the “critical path” shifts as we progress into the campaign, and can prepare
for them in resource allocation and capacity building.