Environmental, Social and Governance Report 2020-21 20 21 Our Net-Zero Journey Introduction Materiality Environment, Social and Governance Sustainability initiatives ESG frameworks Energy is from Renewable Sources Energy Reduction Measures Renewable Energy Measures HKUST is looking to commit to a large industrial-scale solar energy project which will install up to 8,000 solar panels at over 50 locations on campus. Solar PV Project With this initiative, HKUST can generate up to 3 million units (kWh) of electricity each year with a reduction of 1.5 million kg of carbon emission per annum over a 25-year period. It will be able to generate around $160 million by the end of *CLP Power’s Renewable Energy Feed-in Tariff (FIT) Scheme in 2033. The project is now under construction, 25 systems were completed in May 2021 with an estimated completion time in May 2023. From the renewable energy generation, HKUST will receive an average of $4 million per year which will be reinvested in further campus efficiency and greenhouse gas reduction projects. The 2028 energy goal of HKUST is to exceed the Hong Kong Government energy target by reaching a 15% reduction using the baseline year of 2014. This goal is challenging considering the expansion of the campus footprint, in both population and new buildings. However, HKUST focuses on three strategies for energy reductions: T h i s s t r a t e g y f o c u s e s o n replacement of existing equipment with more efficient equipment at end of life or when an opportunity arises. Examples include campus adoption of LED l ighting, high efficiency pumps, chi l lers, and me chan i c a l equ i pmen t , and improving the design of the data center. This strategy focuses on expanding me t e r s , s e n s o r s , a nd o t h e r smart technologies to moni tor conditions and be more proactive in identifying problem spots for correct ion. Thi s st rategy al so allows for better understanding of conditions for improving efficiency based on occupancy and user needs. Th i s s t ra t egy focuses on b i g projects that have the capacity to reduce energy consumption by 1% or more of the total campus energy consumption. The solar project is considered a step change project, includes an installation b a ck - u p c o o l i n g t owe r s f o r optimizing consumption during shoulder months, and a redesign of our virtual stack fans used for laboratory ventilation. One no t e o f c l a r i t y f o r new buildings. HKUST has adopted a BEAM Plus Platinum threshold for new buildings or renovations over $25 million. While these buildings are designed for high efficiency and exceed the performance of similar buildings, we recognize that they are still net-increases to the energy – and therefore GHG emissions – footprint of the university. *CLP Power’s Renewable Energy Feed-inTariff (FiT) Scheme is a scheme launched by CLP in May 2018. With their goal of promoting the development of renewable energy (RE) in Hong Kong, CLP has conducted various initiatives such as: • Buying renewable energy from customers at attractive tariff rates • Reducing the payback period for renewable energy (RE) system installations Continuous incremental improvements Continuous commissioning Step change measures
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