It is the first time the Hong Kong government has published guidelines to carry out carbon audits on buildings, reported the Hong Kong Special Administrative Region (HKSAR) government.
The Environment Secretary Edward Yau stated that people can do the audits to figure out how much GHG emissions are being generated by the buildings. The Secretary further mentioned buildings make up around 89% of Hong Kongs electricity usage and they would have to cut this consumption in order to cut GHG emissions. In addition, Hong Kongs yearly GHG emissions are around 45 million tons, more than 60% of which are produced by electricity usage.
It is expected that at least 100 buildings will proceed with audits this year, whereas 37 organizations are to do the audits in the coming two years. Hence, there is a good chance carbon trading and offsetting schemes would see a boost in this region within the next couple of years, but this would also depend on governments policy about how they want emissions-intensive companies to go carbon neutral.