Green buildings make sound financial sense in the long term
Congratulations to the Hong Kong government and the Council for Sustainable Development for forging ahead with new measures to encourage green buildings. I am director of property development firm Atria Properties. We are committed to creating properties that rest on strong socio-economic foundations. This year we regenerated Hong Kong's first 'eco-residence' on Lyndhurst Terrace, featuring PV solar panels, storm water collection and a green roof garden, among other eco-features.
Hong Kong lags behind its Asian counterparts in green building design, so it is good to see we are finally rising to the challenge to make our city a better place to live. Developers must have corporate social responsibility programmes to address primary and secondary stakeholder groups in and around their property development.
Sustainable development is also about maintaining our global competitive edge - to be a leader in the field of iconic property development. Premiums are being paid worldwide for properties with green features. A US study on green buildings found that although there may be a 1.8 per cent increase in overall design and construction costs, such measures yield a 20 per cent cost saving over the lifespan of a building. The government must forge ahead, despite consultation reports that seek to destabilise the progress and comments from developers claiming they'll relinquish green features if there are no exemptions.
The government must provide flexibility for the private sector so it can implement green designs and eco-features in regenerated and new-build structures, without the need to dish out extra gross floor area. Officials must set clear ground rules for development density, limiting unnecessary building of podiums and adjust land policy to reflect this. Incentives should be offered in areas such as carbon auditing, where the attainment of specified benchmarks is rewarded with tax incentives.
The greatest challenge of the 21st century is the ability of mankind to handle the increased fragility of our planet. Where there is a will there is a way and now is the best time to test this will of ours to aspire to a better-built environment for all.
Amil Khan, Central
