Hong Kong trails Singapore, Christchurch in climate change readiness, thanks to its housing crisis
- Losses owed to extreme weather patterns are estimated to have hit US$200 billion globally in 2018
Hong Kong lags behind Singapore and other cities when it comes to preparation for climate change challenges, such as typhoons and flooding, according to Sean Tompkins, chief executive of the Royal Institution of Chartered Surveyors.
He said the city’s housing problem was to blame. “If you look at Hong Kong, there’s no doubt the developers are looking at issues around sustainability and resilience. The government is increasingly looking at this and it’s getting higher up the priority list. But is there any central coordination and control around resilience? Not as much as you would see in other parts of the world,” said Tompkins, who added that the city had yet to appoint a chief resilience officer.
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He said Singapore and Christchurch in New Zealand were leaders in resilience initiatives. For instance, Singapore-listed City Development Limited began taking initiatives in 1995 under its “conserving as we construct” tenet, and created prefabricated building technology that reduced energy use.
Twenty-one cities in Asia-Pacific, including Deyang and Huangshi in mainland China, are members of the 100 Resilient Cities organisation, which helps cities craft plans to become more resilient to shocks such as earthquakes, fires, floods and other social and economic challenges.
In Europe, businesses may soon be required to disclose climate risks as they ultimately affect the value of assets. Meanwhile, more than 60 cities have appointed a chief resilience officer, who initiates resilience strategies.
Losses owed to extreme weather patterns are estimated to have hit US$200 billion globally in 2018. Over the past 30 years, these losses have increased fourfold. “That doesn't necessarily include the cost to human life and the cost to local communities,” said Tompkins.
In September 2018, Hong Kong was hit by Typhoon Mangkhut, the most powerful storm since records began in 1946. Tompkins said across Asia, damage from the typhoon was pegged at US$2 billion.
