Our Green Performance

Our Green Performance

Reflecting our commitment to our ethos “Build to Own and Build to Last”, we continue to incorporate environmental considerations into the design and operations of our buildings in Hong Kong and mainland China. Our commitment was put into concrete actions in various aspects.

 

Energy Consumption Management

In 2015, we achieved a 19% reduction in electricity intensity as compared to our 2010 baseline, greatly exceeding the target we have set to reduce electricity intensity by 10% by 2015. After careful consideration by our management team, we set a new target of further reducing our electricity intensity by 12% by 2020 with 2015 as our baseline year. By the end of 2017, we had reduced our electricity intensity by over 9%.

Energy efficiency enhancement measures implemented in 2017 include:

  • Replacement of T8 light tubes with LED lights was completed at Kornhill Plaza. It is estimated that 59,400 kWh of the building’s electricity consumption would be saved annually.
  • The recirculating chiller pumps were replaced with more efficient models at Grand Gateway 66, resulting in an estimated energy saving of 551,100 kWh annually.
  • Free cooling was adopted at Forum 66 Shopping Mall, which helped reduce an estimated electricity consumption of 70,000 kWh annually.

We recognize the concerns of our stakeholders over the energy intensity of our older buildings in Hong Kong as compared to our new buildings in mainland China. This is due to the challenge in driving continuous improvement within the limits of the existing hardware and the fact that buildings are in full operation, making major refurbishment disruptive both to our business and to the business of our tenants. Since 2006, we have improved the energy efficiency of our buildings primarily through the replacement of chillers. In the past 11 years, 14 of our buildings have replaced their chillers resulting in a total of 95.98 million kWh electricity or HK$123 million saved.

To further enhance the sustainability performance of our buildings, we initiated an eight-year asset enhancement plan in 2012 for the renovation of more than five million square feet in our retail portfolio. To develop the plan, technical building assessments were conducted to assess our portfolio and to identify opportunities to enhance operational performance including energy and water efficiency. To identify more opportunities to improve our overall energy efficiency, we continue to conduct energy audits in selected buildings in Hong Kong. By the end of 2015, we already completed energy audits for 21 buildings in Hong Kong.

 

Carbon Emissions Management

We aim to minimize the carbon footprint of our buildings to fulfill our responsibility in climate change mitigation. In 2017, the Group reported a carbon footprint of 236,332 tons of CO2e with our main source of emissions being electricity consumption. An independent consultancy was appointed to verify the Group’s carbon footprint data of building operation in Hong Kong and mainland China on an annual basis. The Group is one of the first 64 listed companies disclosing carbon data through The Carbon Footprint Repository for Listed Companies in Hong Kong, which was launched by the Environment Bureau and Hong Kong Exchanges and Clearing Limited in 2014.

 

Waste Management

Diverting waste from landfill is high on the agenda particularly for Hong Kong where waste disposal facilities will fast reach its full capacity. As a real estate developer, our approach to waste management covers two main sources of waste: construction waste produced during the development or renovation of our buildings and municipal waste produced during the operation of our buildings by various users and occupants. For our projects in mainland China, we have Waste Management Plan in place to ensure that construction waste generated on site is handled effectively to minimize waste sent to landfill. In our managed properties, we focus our efforts on supporting our tenants and customers to manage their waste, as this is an area the Hong Kong government, the Chinese government and the community at large has expressed concerns in recent years. In 2017, we continued to recycle waste at our properties and joined a number of waste reduction schemes, including:

  • Recycled over 620 tonnes of waste, including paper, metal, plastics, glass, food waste, rechargeable batteries, toner and ink cartridges.
  • Riverside 66 has participated in the food waste segregation and recycling pilot scheme organized by the Tianjin Heping Environmental Protection Bureau since 2014.
 

Water Consumption Management

Whilst the Group does not operate in any water scarce region, water scarcity is a global issue that we must work together to address. This includes installing water efficient equipment in our buildings to reduce reliance and consumption, and creating greater awareness of water scarcity among employees, tenants, customers, and the wider community. Actions implemented include:

  • In Standard Chartered Bank Building, the Water Conservation Plan was executed to monitor and report on inefficient water use and introduced improvement methods to identify water efficiency gaps.
  • At the Peak Galleria, rainwater is collected for flushing toilets and landscaping, sensor-type water faucets were replaced and, water saving signs are displayed to raise awareness of tenants and consumers. Besides, water meter, water system and water faucet checks are conducted daily to ensure their optimal performance.
  • Replacement of the sensor water faucets in 15 buildings in Hong Kong including Hollywood Plaza, Fashion Walk and Kornhill Plaza.


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