Hong Kong developers on target for 5 per cent cut in electricity
Five-year plan by big firms to reduce consumption at commercial buildings will help the government reduce the city’s energy intensity level
Hong Kong’s major developers are expected to cut electricity consumption at their commercial buildings by 5 per cent in the five years leading to 2020, according to a progress report on the city’s efforts to save energy to be unveiled by the environment minister on Tuesday.
The reduction of about 230 million kilowatt-hours is equal to the power consumption of 47,000 homes in one year, or 210 times the annual amount of electricity generated by Siu Ho Wan Solar Farm.
It is the outcome of a non-binding agreement last year between the government and the private sector on reducing electricity consumption in order to cut energy intensity – the quantity of energy needed to produce one unit of gross domestic product – by 40 per cent by 2025 from 2005.
At least 40 developers joined the scheme, including major ones such as Cheung Kong, New World, Link Reit and MTR Corp.
Undersecretary for Environment Christine Loh Kung-wai said engaging developers at an early stage was important.
“It would take years to pass a law to make it happen,” Loh said. “It is also a way to honour the spirit of the Paris agreement [to make changes through negotiation].