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The Hong Kong Construction Association (HKCA) allocated HK$10 million to launch the Environment, Social and Governance (ESG) Recognition Scheme on 14 December 2022 to assist local contractors in embracing the trend of ESG in the industry. HKCA will develop a blockchain platform; establish a broad ESG database; provide rewarding activities for workers; and subsidise contractors to apply innovative technologies on-site.
The scheme is set to boost the long-term growth of the industry and the society by creating incentives to encourage contractor companies of different sizes and their employees to take part in ESG-related endeavours. The launch of the scheme will drive the industry towards carbon neutrality and sustainable development and further strengthen the competitiveness and professionalism of the industry globally.
Eddie Lam, President of HKCA, said, “HKCA strives to drive the growth of the construction industry in Hong Kong through innovative and sustainable technologies. With reference from international standards, we launch the new ESG Recognition Scheme to encourage contractors to integrate ESG into site management, paving the way for a greener future of the industry.”
The ESG Recognition Scheme adopts blockchain technology to provide a traceable, verifiable and privacy-preserved method for data collection, which aims to make the platform a reliable and effective tool to manage construction site performance. The platform also allows contractors to analyse ESG data and to evaluate their ESG performance via the reports generated, thus implementing suitable measures to achieve sustainable development.
Contractors who successfully participate in the scheme will receive HK$10,000 as a reward. HKCA also offers an innovation and technology subsidy of up to HK$50,000 to contractors who purchase ESG management-related technology products.
For more details of the ESG Recognition Scheme, please visit www.hkca-esg.com.hk. —Construction+ Online
