Page 66 - 2023 White Paper on the Business Environment in China
P. 66
3 White Paper on the Business Environment in China
Real estate As for Hong Kong, the HKSAR Government
has outlined major decarbonization strategies
Decarbonizing real estate in the GBA in its Hong Kong Climate Action Plan 205040. The
four major decarbonization strategies, including
China's goal of achieving carbon peak by energy saving and green building, are emphasized
2030 and carbon neutrality by 2060 has made as a way to reduce the electricity consumption of
the building sector a key area in need of commercial and residential buildings by 30-40%
decarbonization. Additionally, carbon emissions by 2025. Both national and regional policies are
from building operations in GBA cities such as strong drivers for the growth of green building
Guangzhou, Shenzhen, Foshan and Zhuhai are development. To meet the ambitious targets
also rising, posing an even greater challenge for both carbon emission reduction and energy
for the real estate sector in its decarbonization consumption, regulatory bodies are increasingly
journey. In particular, the carbon emissions prioritizing green building development in policy
of Guangdong Province accounted for 5.2% of agendas, supplemented by tightening regulations
national emissions, highlighting the importance of and progressive urban planning.
green building development within the GBA.37
Green building development across the GBA
Figure ES-1. 2015-2020 Buildings operation stage
carbon emissions for four case study cities Over the past decade, policies on green building
in the GBA have undergone revisions and updates.
Source: Working paper calculation In China, green building development is supported
by the China Association of Building Energy
Green building initiatives are now an official Efficiency. The green building certification system41
national agenda. The 14th Five-Year Plan in has been in place since 2006, with a new version of
Guangdong Province emphasizes the importance the green building evaluation standard GB/T 50378
of the GBA region leading the way towards carbon implemented in 2019. Four levels of green building
neutrality. According to the latest adoption of classification are available, namely basic, one-star,
the 14th Five-Year Plan Development Plan for two-star and three-star, with a requirement that
Energy Saving and Green Buildings, all new urban at least 45% of new green buildings in nine GBA
buildings must comply with certain green building cities42 be certified with at least one-star under the
standards by 202538. In addition, a working group China Green Building Labels.
on Carbon Footprint Certification within the GBA
was established39. Hong Kong will work closely In Macau, the Green Building Evaluation
with committee members to promote a green and Standard, managed by the China Green Building
low-carbon economy across the region. and Energy Saving Association (Macau), with
37 HKGFA, https://www.hkgreenfinance.org/ similar green building standards ranging from
wp-content/uploads/2022/10/GBA-Green-Buildings-Ex- one-star to three-star, is adopted. In Hong Kong,
ecutive-Summary.pdf similar green building commitments43 can also
38 HKGFA, https://www.hkgreenfinance.org/ be found, requiring new government buildings
wp-content/uploads/2022/10/GBA-Green-Buildings-Ex- with a construction floor area greater than
ecutive-Summary.pdf 5,000m2 with central air conditioning or greater
39 Shenzhen Green Building Association, http:// than 10,000m2 to achieve at least BEAM Plus
www.cngbol.net/index.php?ac=article&at=read&-
did=3316 40 HKSAR Government, https://www.info.gov.
hk/gia/general/202110/08/P2021100800588.htm?fon-
tSize=1
41 HSBC, https://www.sustainablefinance.
hsbc.com/sustainable-infrastructure/greater-bay-ar-
ea-green-infrastructure
42 HKGFA, https://www.hkgreenfinance.org/
wp-content/uploads/2022/10/GBA-Green-Buildings-Ex-
ecutive-Summary.pdf
43 HKSAR Government, https://www.info.gov.hk/
gia/general/201505/14/P201505140408.htm
66
Real estate As for Hong Kong, the HKSAR Government
has outlined major decarbonization strategies
Decarbonizing real estate in the GBA in its Hong Kong Climate Action Plan 205040. The
four major decarbonization strategies, including
China's goal of achieving carbon peak by energy saving and green building, are emphasized
2030 and carbon neutrality by 2060 has made as a way to reduce the electricity consumption of
the building sector a key area in need of commercial and residential buildings by 30-40%
decarbonization. Additionally, carbon emissions by 2025. Both national and regional policies are
from building operations in GBA cities such as strong drivers for the growth of green building
Guangzhou, Shenzhen, Foshan and Zhuhai are development. To meet the ambitious targets
also rising, posing an even greater challenge for both carbon emission reduction and energy
for the real estate sector in its decarbonization consumption, regulatory bodies are increasingly
journey. In particular, the carbon emissions prioritizing green building development in policy
of Guangdong Province accounted for 5.2% of agendas, supplemented by tightening regulations
national emissions, highlighting the importance of and progressive urban planning.
green building development within the GBA.37
Green building development across the GBA
Figure ES-1. 2015-2020 Buildings operation stage
carbon emissions for four case study cities Over the past decade, policies on green building
in the GBA have undergone revisions and updates.
Source: Working paper calculation In China, green building development is supported
by the China Association of Building Energy
Green building initiatives are now an official Efficiency. The green building certification system41
national agenda. The 14th Five-Year Plan in has been in place since 2006, with a new version of
Guangdong Province emphasizes the importance the green building evaluation standard GB/T 50378
of the GBA region leading the way towards carbon implemented in 2019. Four levels of green building
neutrality. According to the latest adoption of classification are available, namely basic, one-star,
the 14th Five-Year Plan Development Plan for two-star and three-star, with a requirement that
Energy Saving and Green Buildings, all new urban at least 45% of new green buildings in nine GBA
buildings must comply with certain green building cities42 be certified with at least one-star under the
standards by 202538. In addition, a working group China Green Building Labels.
on Carbon Footprint Certification within the GBA
was established39. Hong Kong will work closely In Macau, the Green Building Evaluation
with committee members to promote a green and Standard, managed by the China Green Building
low-carbon economy across the region. and Energy Saving Association (Macau), with
37 HKGFA, https://www.hkgreenfinance.org/ similar green building standards ranging from
wp-content/uploads/2022/10/GBA-Green-Buildings-Ex- one-star to three-star, is adopted. In Hong Kong,
ecutive-Summary.pdf similar green building commitments43 can also
38 HKGFA, https://www.hkgreenfinance.org/ be found, requiring new government buildings
wp-content/uploads/2022/10/GBA-Green-Buildings-Ex- with a construction floor area greater than
ecutive-Summary.pdf 5,000m2 with central air conditioning or greater
39 Shenzhen Green Building Association, http:// than 10,000m2 to achieve at least BEAM Plus
www.cngbol.net/index.php?ac=article&at=read&-
did=3316 40 HKSAR Government, https://www.info.gov.
hk/gia/general/202110/08/P2021100800588.htm?fon-
tSize=1
41 HSBC, https://www.sustainablefinance.
hsbc.com/sustainable-infrastructure/greater-bay-ar-
ea-green-infrastructure
42 HKGFA, https://www.hkgreenfinance.org/
wp-content/uploads/2022/10/GBA-Green-Buildings-Ex-
ecutive-Summary.pdf
43 HKSAR Government, https://www.info.gov.hk/
gia/general/201505/14/P201505140408.htm
66
