Hong Kong, 27 February 2019 – The Hong Kong Green Building Council (HKGBC) welcomes the Financial Secretary’s initiatives on environmental protection and green finance in the 2019/20 Budget released today.

HKGBC’s responses on the proposed initiatives are as follows:

I. Environmental Protection

The HKGBC welcomes the additional $1 billion for Government departments to install renewable energy facilities at Government buildings, venues and community facilities. The initiative shares the same value of HKGBC in fortifying the green built environment and BEAM Plus certification in town, hastens the achievement of the Government’s carbon reduction and energy saving targets.

To improve air quality, developing clean energy vehicle (EV) has become a global trend. BEAM Plus New Buildings and Existing Buildings under the BEAM Plus assessment has long been advocating the importance of parking spaces and charging facilities for EVs. Providing a smart parking system can also reduce unnecessary driving of vehicles around the carpark while searching for parking spaces. Undoubtedly, HKGBC is delighted with the Government’s determination in bolstering the EV’s adoption. Other than exploring ways to encourage the installation of EV charging facilities at car parks in existing buildings, the Government spearheads the movement by allocating $120 million to extend the public EV charging networks at government car parks.   

II. Green Finance

HKGBC is looking forward to the inaugural issuance of government green bonds, which shall encourage the relevant sectors to incorporate green elements into corporate governance and operation in a more effective manner. HKGBC encourages green bond issuers to participate in BEAM Plus assessment for third-party certifications on building projects’ or assets’ environmental performance, which would greatly enhance stakeholders’ confidence and the attractiveness of green financial instruments.

The HKGBC is anticipating a strong support for the Budget from all stakeholders from the construction industry, professional institutions, green groups, NGOs, community organisations, academia and LegCo members for a concerted effort to foster a greener Hong Kong.

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About the Hong Kong Green Building Council (HKGBC)

The Hong Kong Green Building Council Limited (HKGBC) is a non-profit, member led organisation established in 2009 and has become a public body under the Prevention of Bribery Ordinance since 2016. The HKGBC’s vision is to help save the planet and improve the wellbeing of the people of Hong Kong by transforming the city into a greener built environment. The Founding Members of the HKGBC include the Construction Industry Council (CIC), the Business Environment Council (BEC), the BEAM Society Limited (BSL) and the Professional Green Building Council (PGBC). Its mission is to lead market transformation by advocating green policies to the Government; introducing green building practices to all stakeholders; setting design, construction and management standards for the building profession; and promoting green living to the people of Hong Kong.

To learn more about the HKGBC, please visit www.hkgbc.org.hk.