Safeguarding the environment, micro and macro
A stark reality is that the built environment generates nearly 50% of global annual carbon emissions. Our industry is at the forefront of the problem; therefore, we need to be at the forefront of the solution. That’s why Chinachem has implemented an ambitious carbon reduction roadmap that we call, CCG 3050+.
These critical objectives are:
· A reduction by 2030 of at least 51.8% of 2020 Scope 1 and 2 CO2 emissions. Scope 1 covers our own direct emissions, such as those from vehicles or plant and machinery, with Scope 2 being indirect energy generation sources such as grid power.
· A reduction by 2030 of at least 20.9% of Scope 3 emissions; these are from indirect sources along our own value chain, such as our suppliers and tenants.
Figures like these are hard to visualize, but in the case of the Scope 1 and 2 reductions, it would take almost 1.5 million trees, ten years, to remove a similar amount of Carbon from the atmosphere. It’s a lot.
Alongside this aggressive campaign against greenhouse gas emission, we’re also tightly focused on tackling other excesses within our operations.
Stories of the many things we’re doing in this area follow; we’d love you to take a little time to learn more.
Committed to Science-based targets (SBTs)
Chinachem has been ramping up its sustainability efforts to meet its carbon reduction roadmap. In January 2022, the science-based targets (SBTs) set by the Group were officially approved by the Science Based Targets initiative (SBTi). It has become Hong Kong’s second real estate developer to have completed SBTi validation with a 1.5°C-aligned target.
First to replace diesel with clean energy
For decades now, construction sites have relied on noisy, dirty, inefficient diesel generators to provide temporary site power. But in a first for Hong Kong, Chinachem has deployed a revolutionary new technology developed by Ampd Energy, a local startup.
Ampd have created the world’s first purpose built construction energy storage system. Its silent, clean power pack delivers an annual carbon emission reduction of 85% against the traditional tech, an impressive contribution to Chinachem’s ongoing sustainability goals.
A smart partnership with CLPProperty technology plays a key role in making existing buildings more energy efficient, and our collaboration with CLP significantly accelerates our efforts to conserve energy and will save a total of estimated 14GWh of electricity for the next five years.
Together we are deploying smart technologies that include metering, energy efficient heat pumps, variable speed drives control, electric kitchen, smart lighting hardware and solar film to manage energy consumption and improve energy efficiency within our flagship building, Nina Tower Tsuen Wan.