Sinochem HK is adamant about incorporating Sinochem Holdings’ Sustainable Development Philosophy into its operations and development. Sinochem HK takes green buildings and ecological environmental management as breakthrough points in its operations based on green operations. In this way, Sinochem HK continues to enhance the environmental management performance of its own and operating subsidiaries and steadily advance its green and low-carbon transformation and development. As a primary investment and holding platform of Sinochem Holdings, Sinochem HK actively fulfilled the function of investment management. Through its directly controlled operating subsidiary, China Jinmao, Sinochem HK executes Sinochem Holdings’ guiding strategy for urban operations and perform its investment management and oversight responsibilities in green building target setting and implementation. As a result, Sinochem HK bolsters green and high-quality development as the basis of Sinochem Holdings.
Sinochem HK firmly grasps the green building opportunity. By providing investment management and financing support and other means, Sinochem HK facilitates its operating subsidiary, China Jinmao’s engagement in green building development and help it build an environmentally-friendly model for urban operations, together implementing Sinochem Holdings’ real estate development strategy. Sinochem HK works closely with China Jinmao to practise the concept of “green health and smart technology” throughout the whole lifecycle of planning and design, construction, operation, maintenance, and management. Together, Sinochem HK and China Jinmao empower Sinochem Holdings to achieve green and low-carbon development in its urban operations business.
Setting Green Building Targets
100% of its new residential and office buildings shall meet the basic requirements of Green Buildings of China (or equivalent internationally-recognised standards such as the LEED/BREEAM certification)
From 2023 to 2025, it shall obtain no less than 15 high-star-level green building certifications and labels
Among its newly developed and self-owned hotel projects, 5A and Class A office buildings, and business complex projects, 100% shall obtain the one-star China Green Building Label (or equivalent internationally-recognised standards such as the LEED/ BREEAM certification)
Application for high-star-level green building certifications and labels is encouraged, and the proportion of high-star-level green projects in development shall increase year by year
In investment management, Sinochem HK practices the idea of environmentally friendly leasing, and in the strategic dimension, directs and oversees its operating subsidiary, China Jinmao, to continuously promote the concept and practice of green leasing, working hand in hand with lessees and merchants to embrace sustainability. That way, green and sustainable development can be ensured for Sinochem Holdings’ urban operations business. Besides formulating and promoting the Lessee Decoration Handbook, it includes requirements for environmentally-friendly decoration materials, energy management, water resource management, resource conservation, and waste classification in the Property Service Agreement and the Decoration Service Agreement.
In addition, to encourage lessees to use energy-saving equipment and technology, China Jinmao is also promoting the leasing model of independent energy billing. It has been implemented in the office building in the South Tower of Xuanwu Lake Jinmao Plaza in Nanjing. In the property service agreement, China Jinmao clearly stipulates that lessees pay for energy usage based on actual consumption to encourage lessees to seek energy conservation and emission reduction.
Green Building Achievements
In 2022, it had 35 newly added green building certifications and labels, 77.1% among which were at a high star level. 100% of its new projects met green building standards. The newly added green-building-certified area was 3,763,000 m2.
By the end of 2022, Sinochem HK had obtained 297 green building certifications and labels. A total green-building-certified project gross floor area (GFA) of 29,639,000 m2.
Sinochem HK actively practises corporate social responsibility as well as investment management and oversight responsibilities. Through its investment and financing business, Sinochem HK supports China Jinmao in empowering urban operations and directing capital to sustainable urban renewal and development projects, thus stimulating urban vitality. Together, Sinochem HK and China Jinmao promote Sinochem Holdings’ real estate segment towards sustainable and high-quality development. Upholding the vision of “Unleashing the Future Vitality of the City”, China Jinmao implements city renewal in depth and keeps up the momentum of urban development. China Jinmao promotes the transformation of urban development and construction towards intensive quality-based development with a focus on the inheritance of urban history and the continuation of culture and contributed to the construction of liveable human-oriented cultural cities that are safe, sustainable, and efficient.
Case: Preservation of Urban Cultural Legacy: Giving a New Life to a Former Thermal Power Plant
The Tianjin First Thermal Power Plant, established in 1937, was one of the main power grids in the Beijing-Tianjin Tangshan region. However, the plant sank into oblivion after its tall chimneys were dismantled. In line with the concept of “continuing to warm the city” for this redevelopment project, China Jinmao found a balance between protection and development in terms of the architectural structure, spatial texture, and floor plan of the legacy buildings and gave a new life to the red bricks, workshops, coal buckets, and chimneys from the past in the form of the new Tianjin Jinmao Place. This project is China Jinmao’s first commercial heritage preservation project and was granted the “2022 Typical Case of City Renewal and Existing Building Renovation" award.
Sinochem HK and China Jinmao practice their commitment to greenfield development. The principle of greenfield development is upheld, requiring that development projects are avoided in national nature reserves or developing agricultural land and greenfield areas. For any necessary construction activities, Sinochem HK will strictly comply with applicable laws and regulations and obtain approval from competent departments. Sinochem HK will ensure that such projects meet green building standards and that the ecology is properly conserved and restored.
Sinochem HK strictly complies with environment management laws and regulations of the Chinese mainland and Hong Kong and carry out the Sinochem Holdings Eco-environmental Protection Responsibility System, the Sinochem Holdings Environmental Protection Management Measures, the Sinochem Holdings Environmental Monitoring System Operation Management Standards, and the Sinochem HK Environmental Protection Policy. In the pre-development stage, on-the-spot surveys will be made for ecological and environmental issues and environmental risk maps will be developed. Based on sufficient consideration of the environmental and economic impacts of the development on the local community, urban land resources will be put into flexible and diversified use. Soil and water conservation plans will be implemented during project construction, the remediation of contaminated sites will be actively engaged in, and highly-degraded brownfield sites will be improved to progress ecosystem restoration.
Case: Guiyang Jinmao Crystal Smart Eco-City Empowers Eco-City Construction
Guiyang Jinmao Crystal Smart Eco-City is a benchmark project for China Jinmao to practice brownfield treatment and reuse. The project progresses the integrated ecological treatment of the soil in the chemical factory area on the original site of the old industrial area with modern soil restoration technology. In 2022, it completed the restoration of about 700 mu (46.67 ha) of land in Phase I, setting a model for the local ecological management and the transition of chemistry enterprises. At the same time, the project takes the introduction of quality public service resources as the starting point to reshape the ecological value of the area. A 140,000-m2 city park has been basically completed. The largest non-powered park in Guiyang is about to open to citizens. The vibrant and modern city living room will become a new landmark in Guiyang.