Paul Y. Builders Limited

SCA 2018 Contractor in RMAA Works - Merit Award

The Nan Fung Textile Mills A&A project (NFTM), one of the key local heritage conservation project, was launched in 2014 and has been successfully transformed 3 textile mills into a destination for innovation, culture and learning purposes with sustainable construction achievements as follows:

  1. 81% of water recycled or salvaged during LEED assessment (LEED requirement is 70%)
  2. Managed all lifting operations by mobile cranes with EPD “Approval label” and achieved 20% saving in operating cost and achieved 65% recycling rate of the timber formwork (4,000m² to 12,000m²), and
  3. Zero complaint from neighbours and no prosecution from EPD

Giant Glass Block Wall

The iconic lift lobby with giant glass block wall of over 9m high, which using 300 x 300 x 100mm giant glass blocks to create the grand aesthetical excellent lobby to welcome visitors from the main entrance at Castle Peak Road, which gives visitors a brand new impression to the revitalized building.

One Building Complex

Five link bridges have been constructed to link up Mills 5 and 6, together with the curtain wall façade at Castle Peak Road. The buildings are now combined to form one building complex.

Atrium

The Atrium consists of a skylight, a grand staircase and 2 floors of shopfronts for retails. The Atrium construction involved the complex planning and calculation on structural loadings and open up of 3 floor slabs for making this large space.

About the Model

The HKSAR Chief Executive had announced in the 2017 Policy Address to position Hong Kong as an Asia’s green finance hub for raising green capital. In view of the substantial GDP contributed by the construction sector annually, the construction industry has a high potential to meet the trend of green finance. Thus, there is a need to well define the green standard and system to facilitate the application of green finance in construction industry.

The Model aims to act as an interactive guide on environmental practices and advanced technologies for construction projects which is compatible with international green bond/loan principle. Green finance can mobilise capital for green and low carbon investments in the construction industry. Public owners, developers, contractors and suppliers could issue green financial instruments for funding their projects with reference to the guideline of this model.

Interactive guide to classify construction practices based on green finance principle

Interactive guide to classify construction practices based on green finance principles

User-friendly model for set up its own checklist and sustainability KPIs

User-friendly model for set up its own checklist and sustainability KPIs

Sustainable hub to share latest local and intentional solutions

Sustainable hub to share latest local and international solutions

Why the Industry Needs Green Finance?

  • Green finance providing benefits for assisting the transition from the ‘brown’ to the ‘green’ construction.
  • Green finance can mobilise capital for green and low carbon investments in the construction industry
  • Stakeholders can seek opportunities for long pay back initiatives and low interest rates when adopting advanced and innovative measures.
  • To encourage investors from the Mainland along the Belt and Road as well as international investors to arrange green financing through Hong Kong construction capital markets.

Components of Green Bond/Loan Principles

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Green bond/ loan proceeds are to be applied for environmental (or “green”) projects with an indicative list of eligible project categories. See the figure below for the 10 eligible Green Project Categories.

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Recommends issuers/ borrowers to disclose their overall green objectives, the process used to determine eligibility of green projects, and the process to manage environmental and social risks of these projects.

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The net proceeds of the Green Bond/ Loan, or an amount equal to these net proceeds, should be credited to a sub-account, moved to a sub-portfolio or otherwise tracked by the issuer/ borrower in an appropriate manner, and attested to by the issuer/ borrower in a formal internal process linked to the issuer’s/ borrower’s lending and investment operations for green projects.

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Recommends annual reporting of the amounts allocated and results of the eligible green projects.

Green Project Categories

Key Features

no. of sustainability measures compatible with international green bond and green loan principle
41
no. of sustainability measures compatible with international green bond and green loan principles
no. of stakeholders and green finance experts engaged
162
no. of stakeholders and green finance experts engaged
no. of pilot projects
30
no. of pilot projects

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