Business
Hong Kong Developers Form Alliance to Reduce Supply Chain Emissions in Construction: A Move Towards Low-Carbon Building Materials
Developers in Hong Kong are taking measures to reduce carbon emissions in the construction and building materials sector. Significant changes in procurement, policy incentives, and technical documentation systems are necessary to encourage investments, according to the alliance.
Over a dozen property developers and construction companies in Hong Kong have collaborated to create a task force. The goal is to unify the process of acquiring low-carbon construction materials, aligning with their strategies to combat climate change.
The Hong Kong Proptech Alliance is aiming to reduce or eliminate the carbon emissions involved in the production of building materials throughout the industry's supply chain. Significant changes in procurement, policy incentives, and technical documentation structures are necessary to encourage investments that will assist the construction industry in shifting towards low-carbon products and production methods, according to the executives.
The coalition consists of Hongkong Land, Sino Group, Swire Properties, and New World Development, along with Airport Authority Hong Kong and Hines Asia-Pacific, a real estate investment management firm. On Thursday, they partnered with advisory company Reset Carbon in an endeavor to reach their extensive objectives, as per an announcement.
The main difficulty we and others in the industry, including suppliers in Hong Kong and mainland China, face is the absence of clear information regarding the accessibility and reliability of low-carbon construction materials," stated Kent Jan, the leader of digital transformation and innovation at Hongkong Land, Central's largest property owner.
Around 60% of Hong Kong's carbon emissions are due to the use of electricity in buildings, according to government figures. On a worldwide scale, the UK's Royal Institution of Chartered Surveyors reports that 28% of emissions are generated from the ongoing operations of buildings, while 11% are a result of the construction process and the manufacture of construction materials.
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