Yau Lee Construction Company Limited

SCA 2018 Contractor in New Works - Merit Award

The project includes 5 domestic buildings (4 blocks of Public Rental Housing and 1 block of Subsidised Sales Flats) with ancillary facilities including market, Public Transport Interchange and car park; 1 social welfare block; 1 public library and sports centre complex; 5 footbridges including one steel tied-arch bridge of about 145m span.

Sustainable construction achievements as followings:

  1. The usage of precast element had been increased from 19% to larger than 40% of total concrete
  2. Avoid 400 tons of CO2 emission through renewable energy onsite
  3. Reduced timber usage of 2573 no. of tree by reuse plywood
  4. Recycle rate at FTSW is 40%
  5. Avoid production of 535 tonnes of concrete waste for footing of site office by using precast concrete plate for establish of footing for site office
  6. Avoid production of 348 tonnes of concrete waste from concreting activity by reusing concrete waste for making concrete products

Solar panel and batteries are installed on a specially design rack before placed on the top of container toilet. This special design feature would increase the lifetime of solar panel by reducing the possibility of damage during the lifting operation of solar lighting system.

Different from the general in-situ concreting for footing, precast concrete plates are used in our site for establishment of the site office’s footing. The precast concrete plates can be reuse in other project after the site office is demolished.

Applying mould on the both surface of plywood completely before timber formwork erection. The number of use for each plywood is increased from 2 times (only apply mould oil on single side) to 5 times. Less timber is used by reusing plywood up to 5 times. A reduction of 1955m³ timber use is achieved which is equivalent to 2573 nos. of tree.

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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