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- Decarbonising the built environment is a key part of the Hong Kong Climate Action Plan 2050.
- Strong foundations have been laid and Hong Kong building and construction industry already has most of the key elements needed to decarbonise.
- A number of next steps need to be taken, details are set out in a Knowledge Partnership publication between Savills and The Australian Chamber of Commerce in Hong Kong.
- Key challenges include mainstreaming, retrofitting, data transparency, green certification of existing buildings, education and capital allocation to sustainable investments.
- To meet these challenges, industry collaboration, regulations and incentives, data governance, scaling up decarbonisation, raising awareness and alignment of valuation mechanisms are needed.
- To reduce total carbon emissions by 50% before 2035 the time to act is now.
90% of electricity consumption in Hong Kong is building related, our decarbonisation road map sets out the key steps that cross industry collaboration can address. This is not the sole responsibility of regulators and organisations, every one of us has a role to play.
Acknowledgement:
This document is produced through a Knowledge Partnership with The Australian Chamber of Commerce in Hong Kong, from an event hosted by the Chamber and referencing content from that event.