HSBC Bank Middle East

HSBC BANK MIDDLE EAST

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INTERVIEW: HSBC BANK MIDDLE EAST

BUILT TO LAST Sustainable Business Magazine speaks with HSBC Bank Middle East’s Sabrin Rahman, Head of Sustainability, and Esra Fanoscu, Regional Head of Corporate Real Estate, about the new LEED Gold-certified HSBC Tower in Dubai, as well as green mortgages, and driving sustainable change in the Middle East.

By Ciara Jack

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Completed in 2018, the HSBC Tower in Dubai is the futuristic face of the multinational bank’s UAE Headquarters. A dazzling, window-clad structure, the 20-storey HSBC Tower, which consolidates three of the bank’s previous offices in a single building, was constructed in accordance with the Leadership in Energy and Environmental Design (LEED) Gold Standard, using 25% less energy and 40% less water than a traditional Dubai office building.

“Obtaining the LEED Gold Certificate was already a challenging target since we could not opt in for many of the credits, due to the fact of being connected to a

district cooling system, which is a sustainable cooling option but is not rated in the LEED program,” says Sabrin Rahman, Head of Sustainability at HSBC Bank Middle East.

“But that was not enough for us. We wanted the building to showcase a number of other sustainability measures linked to the ‘user experience’, to raise awareness among our employees.”

“From energy efficient lighting and waste management systems, to intelligent security cameras, HSBC Tower’s smart technology has all major green benefits,” says Esra Fanoscu, Regional Head of Corporate Real Estate at HSBC Bank Middle East.

CLEAN TECH An array of water-saving technologies at HSBC Tower keep the building’s water consumption to a minimum – an important energy saver in Dubai where the supply of potable water is desalinated, an energy-intensive process. “The building manages reduced water consumption through low flow fixtures, dual-flush toilets and the recovery of condensation from the air-conditioning system,” says Ms. Fanoscu. “Irrigation SUSTAINABLE BUSINESS MAGAZINE

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INTERVIEW: HSBC BANK MIDDLE EAST matic,” explains Ms. Fanoscu. “This system includes daylight harvesting, fully variable LED lighting, scene setting, and the use of other low-consumption lamps across the building. We also have 10 destination-controlled lifts and one service lift that will channel people quickly to their floors, reducing waiting time and energy usage.”

A trip to the car park also demonstrates the full scope of HSBC Tower’s clean energy policy. “Access to electric vehicle parking spaces, carpool parking spaces, and bicycle racks encourage eco-friendly transportation,” says Ms. Fanoscu. “Parking is unreserved and managed using a smart parking system. It can monitor utilization rates and detect over-allocated parking spaces to utilize redundant capacity.” requirements have been minimized, and all plant irrigation is provided by recovered water.” Meanwhile, a roof-mounted solar water heating system heats the water needed for the company’s washrooms.

Air conditioning is another big energy consumer for Dubai buildings. “The HVAC system has been designed with smart principles, such as presence detection, accurate zone control, variable fan speed, and intelligent timer settings,” says Ms. Fanoscu. “CO2 detectors, combined with

the Smart Building Control System, enables full control of the fresh air supply and ventilation system, delivering fresh air only where required and providing significant energy savings and improved air quality.

The exterior itself uses a high-performance façade to reduce solar gain.”

Of course, no green building would be complete without energy-saving lighting measures, but HSBC Tower’s measures are more sophisticated than a few eco-friendly bulbs. “The lighting system is fully auto-

“WE HAVE BANNED THE SALE OF PLASTIC BOTTLED WATER WITHIN THE BUILDING. THE INTENTION IS TO BE 100% PLASTIC BOTTLE FREE BY Q4 2020.”

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GREEN HAVEN HSBC Tower is almost completely free of single-use plastics, thanks to consumables being packaged in biodegradable material.

The building also has food waste reduction technology called Winnow, which provides food service employees with information on how to reduce food waste using real-time data, and an on-site composter, which reduces the need to transport waste. If staff want to grab a coffee, there’s no need to wander

out for a plastic-lined takeaway cup, either.

Pantries serve organic, free-trade coffee in ceramic mugs. In order to ensure the longevity of using ceramic mugs, a dishwasher has been installed to keep everything clean and ready-to-go. The canteen also has a ‘Bring Your Own Container’ loyalty card, which incentivizes reusable food containers through employee discounts.

Gone, too, are water coolers and the associated plastic and paper waste. “Every floor has more than one access point to filtered and chilled water dispensers, allowing tap water to be used for drinking,” explains Ms. Fanoscu. “Staff and building occupants are issued their own re-usable glass water bottle, though these are currently out of use due to COVID-19 related hygienic precautions. We have banned the sale of plastic bottled water within the building. The intention is to be 100% plastic bottle free by Q4 2020.”

“By replacing the plastic cups for water dispensers with glasses and installing filtered tap water, with this measure alone we reduced our plastic cups use per year by one million units,” adds Ms. Rahman.

INCENTIVIZING GREEN BUILDING HSBC Tower stands as a new chapter in the bank’s long relationship with Dubai.

HSBC has had a presence in the Emirati city since the late 19th Century, and has been providing loans and financing in the region ever since, including for large-scale projects like the dredging of Dubai Creek.

“This state-of-the-art headquarters presented a moment to reflect on HSBC’s rich history of partnership and progress, which underpins its bright and ever-growing future in the UAE,” says Ms. Rahman.

HSBC’s eco-friendly work in the region extends beyond HSBC Tower. HSBC are a founding member of the Emirates Green

Building Council (EGBC), as well as having a permanent place on the Board of Directors.

“Being the only bank in the region present at this forum, we try to bring the perspective of the financial institutions to their activities,” says Ms. Rahman. “We also are able to understand the needs of the market, or how to incentivize positive behavior.”

For example, HSBC offers a green mortgage product, called the Green Home Loan, incentivizing customers to purchase properties which are LEED-certified buildings by offering a 0.25% discount on the applicable interest rate. “We consulted EGBC in the first stages of preparing that product,” says Ms. Rahman. “This is the first

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INTERVIEW: HSBC BANK MIDDLE EAST

such product in the UAE and we hope this creates momentum within consumers and developers on sustainable buildings.”

HSBC Bank Middle East also recently launched a new sustainable buildings report in partnership with EY, titled ‘Built to Last: Sustainable Buildings Framework for Saudi Arabia, Turkey and UAE’, to promote green buildings in the region. “The report offers a snapshot of the building sector in United Arab Emirates, Saudi Arabia and Turkey, and highlights the key strategic, financial, market and technological enablers for green buildings in these countries,” says Ms. Rahman. “It particularly looks at how green building practices can deliver environmental and socio-economic benefits to achieve the global sustainability and climate change goals. It also explores the challenges of the transition to green buildings, delving deeper into the gaps across the value chain, and offers recommendations for policy-makers, financial institutions, developers, and customers to harness the benefits of the transition and benefit from a more sustainable building sector.”

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ACCELERATING CHANGE HSBC continues to run a wide array of sustainability-focused programs in the region. Living Business is an ongoing program sponsored by HSBC which offers free one-on-one guidance, workshops, and networking for businesses which want to improve profits through sustainable technologies and industry best practices. “Using an ESG framework, Living Business is for all businesses that have an interest in taking sustainable action in 2020 and beyond,” says Ms. Rahman. “Living Business has a primary focus on businesses in the manufacturing and construction sectors, including power and utilities, oil and gas, construction, transportation, and metals.”

Then there’s the C3 Social Impact Accelerator Program, powered by HSBC, which

provides expert support to the next generation of sustainability entrepreneurs in the Middle East. “This is currently running with a selection of 23 entrepreneurs across the region selected from a pool of around 650 applications,” says Ms. Rahman. “During this program, they receive the tools and modules they need to thrive in the global economy and enable them to raise funds and increase governance practices to help their companies become more resilient. The modules, delivered through live sessions, focus on topics including how to measure social impact, the theory of change, how to build capable teams, financial management, and how to pitch to investors, et cetera.” This program was awarded a Social Enterprise Mark, and was recognized as one of five United Nations Sustainable Development Goals Pioneers in the UAE. MOVING THE NEEDLE “In the Middle East, governments are now incredibly strong on the sustainability agenda,” says Ms. Fanoscu. “Saudi Arabia’s National Renewable Energy Plan and the UAE Energy Plan set out ambitious and tangible targets. Investors have started to realize it’s a real commercial opportunity, and HSBC is leading the charge with tight environmental targets through the REDUCE 2020 initiative.

HSBC’s global 10-point Operational Sustainability Strategy aims to reduce annual carbon emissions per employee by about 40 per cent, by end of 2020. HSBC Tower contributes to moving the needle in REDUCE 2020 though technology-enabled space, which will automate, analysis, and manage building operations to be more efficient and environmentally friendly. While sustainability is a long-term goal, HSBC Tower is a great example of how we are treating sustainability as a goal today, in meeting international standards and the globally-acclaimed LEED Gold rating.”

“The COVID-19 pandemic has highlighted the need for cities to be healthier, better connected, less congested, and nature focused,” says Ms. Rahman. “Last year alone we supported more than 40 projects across the region covering different areas of our sustainability strategy, i.e. supporting our employees, clients and communities with the future skills they need in a changing world, or helping sustainable entrepreneurs. On a sustainable finance front, we look to continue our leadership position in the UAE to help customers and partners transition to a lower carbon economy through products, advisory and thought leadership. We have also been actively financing commercial green buildings across the UAE.” c

“WHILE SUSTAINABILITY IS A LONGTERM GOAL, HSBC TOWER IS A GREAT EXAMPLE OF HOW WE ARE TREATING SUSTAINABILITY AS A GOAL TODAY”

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Dubai, United Arab Emirates T. + 971 600 554722 www.hsbc.ae

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