CEM OCCASIONAL PAPER SERIES sustainablebuildings : smart ...

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CEM OCCASIONAL PAPER SERIES

sustainable buildings: smart, green and people-friendly

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CEM OCCASIONAL PAPER SERIES May 2012

A CEM Occasional Paper by Dr Thomas Tang, Corporate Sustainability, AECOM Asia

IP 3/12

SUSTAINABLE BUILDINGS: SMART, GREEN AND PEOPLE-FRIENDLY


abstract

Buildings of the future have to take into account the challenges and the opportunities brought

about by technological, environmental and societal changes. Smart buildings have the advantage of

automated systems that control the environment and communicate with users. With the increasing

levels of sophistication in technology, communications and connectivity, smart buildings will become

an integral part of our lifestyles – something that the construction industry should recognise. In building

new buildings or refurbishing old ones, the ‘smart’ way to build smart buildings is to move away from

traditional methods of construction and to look at multi-disciplinary and integrated approaches, as

well as end-user perspectives. Furthermore, with the world’s increasing concern on climate change,

buildings will feature as one of the key areas for low-carbon performance. Supported by smart

technologies, green design will be a vital part of the new outlook for a building’s performance. In the

absence of other benchmarks, LEED and BREEAM schemes will likely become requisites for any

construction project, and the industry should pay heed to how this can serve as a reminder as well as

an opportunity for a responsible and profitable business model. Lastly, societies across the world will

require comfort, liveability and adaptation to demographic change. The construction industry is well

placed to play a crucial role to take on this task.

Sustainable buildings: Smart, green and people-friendly

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Buildings are a fundamental part of our lives. We live, work and play in buildings almost 80% of our living

existence, and this trend is set to continue. Few communities worldwide can now claim to eke out a living

in a truly natural habitat. Due to the development of scientific farming methods, a small proportion of the

world’s population is now able to feed the rest, thereby enabling a rising share of the world to live in built

environments. In 1950, the share of the world’s population living in urban buildings was 29%, rising to

50% by 2007, and expected to reach a 60:40 split in 2030 (United Nations 2010). What this means is that

the demand for building space will expand dramatically; in Asia, for instance, roughly 500 million people

will require new housing by 2025 (Fifth Asia-Pacific Urban Forum (APUF-5) 2011).

There will be many challenges that lie ahead for the construction industry to come up with new ways to

accommodate these densely concentrated populations efficiently, effectively and sustainably. Clearly,

there are economies of scale in living in compact communities. Buildings with multiple residents and

users share walls, floors and ceilings with their neighbours, which means less materials will be required

to build structures as well as common systems. However, sustainable buildings will have to be designed

for modern challenges like climate change, indoor comfort and, importantly, human factors.

This paper considers three ways of designing sustainable buildings: smart buildings; green buildings;

and people-friendly developments.

introduction

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a building smarter than a human?

Smart buildings in their most basic form are

buildings controlled by a computerised network

of electronic sensors and controls to monitor

and operate certain building functions such as

mechanical and lighting systems. A building

automation system (BAS) links sensors and

controllers on each floor to a master controller

supported by a front-end server (often Internet-

based) and a back-end database for storing

historical data. A BAS keeps the indoor climate

within a specified range and can provide lighting

and air conditioning based on an occupancy

schedule while monitoring system performance and

device failures. Building engineering teams are then

kept informed through automated reports (Mitchell

2005). Compared to a non-controlled building,

a BAS-controlled building has lower energy

consumption and reduced maintenance costs.

As a logical extension of BAS controls, smart

buildings are ‘a fusion of fully integrated services

that deliver key business benefits to the owner’

(Telindus 2007).

Combining BAS and IT through the backbone of an

Internet Protocol network allows multiple services

to be delivered to occupants. Research shows that

integrating smart technology into buildings during

the initial design will reduce the cost of construction

as the cost of multiple traditional systems is

removed. Once installed, the opportunities for

implementation are endless. Offices and homes

can find ‘intelligent’ ways of saving more energy, for

instance, by replacing wall-mounted thermostats

with individual, virtual sensors controlled by PCs.

Factories and shopping malls can switch off lighting

and air conditioning when not needed based on

motion sensors, and airports can link their flight

information databases to heating, lighting and air-

conditioning systems at individual gates to restrict

energy use to when gate areas are occupied. Also,

staff costs can be kept down with centralised

management being put in place to optimise

budgets instead of expending intensive labour used

for monitoring. The role of facilities managers will

change dramatically in the future (Sinopoli 2011).

However, to mention reducing costs only is to

understate the true potential for smart buildings.

Smart buildings can provide a safe, secure and

comfortable environment, with wired and wireless

IT services combined with voice, video and data

services to deliver information to building users

irrespective of their location in the building. As

part of the smart system, contextual engines and

logic controllers can deliver real-time information

to those who find it relevant, based on location

and user profile. This is important in buildings with

mixed uses like schools, hospitals and prisons,

where the deployment of wireless systems allows

flexible working across the entire building and the

ability to gather information anywhere. Tracking

through Wi-Fi and radio-frequency identification

(RFID) tagging allows devices, people or assets

to be tracked as they move around within a few

metres of accuracy; in hospitals, a required piece

of medical equipment can be tagged so that it can

be quickly located via WiFi tracking technologies,

with potential life-saving consequences.

Smart buildings can further allow access control

through user authentication services, allowing the

user to access other systems with smart cards.

In addition to entry to selected areas, the access


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control system can link up to shared message

board terminals installed throughout the building

as well as intranet kiosk access, cashless catering,

electronic registration, library services, locker

systems and other services through a single card.

From a construction industry perspective,

consolidating services on to the same

infrastructure that already provides the traditional

business communications services has been

shown to reduce the cost of design and build

by 15–20% compared with disparate traditional

systems. This is possible as there is a single point

of focus for management, maintenance, resiliency

and redundancy costs through the smart system.

The cost of add-ons, moves, renovations and

other changes is greatly reduced as a required

service can be extended to wherever infrastructure

access is available (Telindus 2007).

Further research has also shown building

developers achieve higher rentals for integrated

buildings as smart control networks required

for the tenant are now included within the base

construction, thereby saving costs and creating

opportunities for upselling services within the

lease. By accessing a smart building’s control

systems, the tenant can measure and manage the

efficiency of their building over the length of their

lease because such smart control systems can

provide a wealth of consumption data over the

period of the tenancy. Such buildings provide staff

with a comfortable, secure and safe environment

which can be managed ‘smartly’ to optimise work

activities.

But if a building is smart, should it also be green?

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green is in

The principles of green buildings have been in

existence since humankind’s early venture into urban

dwellings and our attempts to shape habitats to fit

with the environment. Modern green buildings, much

like smart buildings, are an integration of concepts,

in this case, state-of-the-art sustainable/green

technologies, best practice and innovation.

Green building design:

• utilises any opportunity to incorporate

environmentally sustainable measures and

solutions into design;

• assesses the feasibility of alternative energy

sources, from low carbon to renewable energy

sources, in order to minimise its impact on the

environment;

• encourages sustainable solutions in the

design not only in terms of building services

but also in the architectural design, built form,

orientation, materials selection, site planning,

water and waste strategies;

• ensures that proposed design strategies meet

targets for reduced life cycle impact and life

cycle costs;

• ensures that the design not only addresses

the need for energy efficiency and

environmental friendliness, but that it also

provides maximum internal quality and

comfort for occupants.


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Some of the main issues considered include:

Key area Green measure

Built form and orientation

Building shape to make use of natural elements on site (daylight, sunpath, wind)

Building position to relate with other buildings on site (overshadowing, wind tunnel effect)

Layout of spaces within the building to respond to individual uses (direct sunlight, external sources of pollution)

Green elements to be integrated within design concept (green roofs, green walls)

Building fabric

Use of sustainable, low-impact and locally sourced materials to minimise the building’s ecological footprint but also support the local industry and economy

Use of building design and fabric in the operational strategy for the building for lighting and heating, ventilation and air conditioning (HVAC) by allowing for the use of natural solutions such as daylight, natural ventilation, night cooling or free cooling, without compromising its performance or the level of comfort of occupants

High levels of fabric insulation

Waste minimisation by utilising modern methods of construction, such as off-site construction, and by designing for deconstruction (taking into consideration the impact of materials at the end of the building’s life)

Building services

Use of available resources on site

Use of renewable energy technologies that are technically and economically viable for buildings

Proposed systems for all building services (HVAC, lighting, etc.) to deliver high-performance requirements while also achieving energy savings

Integrated building management systems that can respond to the specific requirements of the building

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Key area Green measure

Water

Water-efficient systems in the building (dual flush WCs, automatic taps, etc.)

Rainwater and/or greywater collection and reuse for irrigation and reduction of potable water consumption

Energy-efficient features

Use of variable speed drives such as variable air volume (VAV) systems, variable speed pumps, etc.

Use of photo-sensors for lighting output control and motion detectors for lighting, escalators and air-conditioning system control

Use of energy-efficient lighting, including T5 fluorescent tubes and light-emitting diode (LED) exit signs

Use of automatic chiller condenser tube cleaning systems

Use of high coefficient of performance (COP) chillers, heat recovery chillers and heat pumps, and making full utilisation of the chilled water supply from district cooling systems

Energy conservation features

Use of heat pump units for production of hot potable water or heating water

Use of energy wheels to reduce fresh air cooling demand by utilising relatively cold exhaust air


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The green performance of buildings is assessed

using various methods. The BRE Environmental

Assessment Method (BREEAM) was launched

in 1990, covering a wide range of sustainability

principles (including water use, waste

management and materials) instead of focusing

on the common aspects typically associated with

buildings (e.g. energy). Since then, green building

labelling schemes have become commonplace

and numerous schemes have been developed

and adopted in countries around the world. In the

US, LEED was established in 1998 and has since

been adapted for use in India, Italy and Canada.

Hong Kong BEAM was one of the early schemes

to be developed in Asia and was launched in

1996 to guide the design and to assess the overall

performance of new and existing buildings in

Hong Kong. Japan established CASBEE in 2002,

while Australia introduced NABERS in 1998

followed by Green Star. Green Mark was launched

in 2005 in Singapore, while one of the more

recent schemes, the China Green Building Label

system, was initiated in 2006 (National Standard of

People’s Republic of China 2006).

Overall, the impact of green building labelling

schemes on improving the environmental

performance of buildings has been significant.

Buildings certified by green building councils –

compared with non-certified buildings – have

reduced energy and potable water consumption

by 85% and 60% respectively and reduced

waste sent to landfill by 69% (National Standard

of People’s Republic of China 2006). Yet, as

technologies develop and as planning regulations

and policies become more stringent, it is important

for green building labelling schemes to remain

at the forefront by setting higher standards and

to act as the driving force for better performing

buildings. Hence, green building labelling schemes

are key to ensuring significant environmental

initiatives such as carbon reduction – beyond

the minimum requirements as set in individual

countries.

Despite the benefits that green building labelling

schemes bring, they have come under strong

criticism; notably, cynics claim that these schemes

are just a ‘tick-the-box exercise’ that actually

detracts designers from creating truly green

buildings in the quest for points and awards. In

the same sense, schemes are criticised for not

ensuring that an integrated design approach

is achieved, as design teams pick and choose

credits under certain topics, not on the basis

of their actual impact on the design but on the

weighting and points they carry.

Nonetheless, green labels will continue to serve

as a primary means of sustainability performance

assurance for buildings, which will be the means

by which buildings of the future will adapt to

the challenges of climate change and natural

resources depletion. But to use this method only is

to overlook a vital factor – the people that lie at the

heart of sustainable communities.

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PeoPle-friendly buildings

Green labelling is a means to embed environmental

performance in buildings, and having smart

technologies to provide security and comfort

to building users is also crucial. However, it is

important to take into account users’ societal

needs as buildings should be seen as a living part

of sustainable communities. Living spaces and

gathering points for communities should form part

of a building’s function as well as pleasing aesthetics

and living comfort; these are not always recognised

by green labels or smart systems.

Interestingly, a comparison between a conventional

high-rise office block and a contemporary green

building showed that the physical environment,

occupants’ visual and temperature sensation and

satisfaction levels are quite different between these

two types of buildings, even given the same location

and weather conditions. The greener building

possessed more natural ventilation systems, larger

glazing areas, higher thermal mass and a careful

layout design that emphasised the social aspects of

the building (Zhang and Altan 2011).

Separate research has shown that building

characteristics have strong relevance to an

individual’s response related to comfort, and that

perceived comfort can be influenced by several

personal, social and building factors. On the

one hand, efficient lighting, heating and cooling

have measurably increased worker productivity,

decreased absenteeism, and improved the

quality of work performed by reducing errors and

manufacturing defects (Romm and Browning 1994);

but on the other hand, environmental stressors such

as vibration, poor air quality and inadequate lighting

usually result in negative stress. It has been proven

that negative stress can cause short-term illness and

long-term physical and mental health problems. Air

quality especially has a bearing on communicable

respiratory illness, allergies and asthma symptoms

and impacts worker performance. The estimated

potential annual savings and productivity gains are

US$6–14 billion from reduced respiratory disease,

US$1–4 billion from reduced allergies and asthma,

and US$10–30 billion from reduced sick building

syndrome (SBS) symptoms (Fisk 2000).

Other than the direct benefits that sustainable

buildings have on worker performance, there are

further advantages as healthy communities help

stabilise society and maintain order. However, the

challenge that is emerging on the horizon is that of

ageing populations; by 2050 one person in five will

be over 60 years old (World Health Organisation

(WHO) 2005).

Popular belief maintains that ageing will involve more

healthcare services and more financial support; there

are some who regard ageing as an opportunity to

tap into the inherent wisdom, skills and knowledge

of older people. This can be done by creating

environments that foster engagement through ‘age-

friendly’ buildings, i.e. buildings with outdoor spaces,

comfortable housing, social participation, respect

and social inclusion, employment, communication

and information, and community support. New York

City’s participation in the WHO’s Global Network of

Age-friendly Cities has, for instance, led to benefits

not only for the older people of New York, but people

from around the world as New York City is the model

for programmes in France, Slovenia, Ireland and,

potentially, China (WHO 2006).

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From the earlier explanations, sustainable

buildings can be interpreted in three ways:

smart, green and people-oriented. But to look at

each of these in isolation is to miss a significant

opportunity to leverage one another. The following

applications should be considered:

• enabling – the systems in smart buildings

are excellent enablers for the environmental

and social performance of buildings. With

automation, buildings can control the indoor

environment efficiently and comfortably; at

the same time, smart card, RFID and other

technologies can ensure that the inhabitants

enjoy access to facilities and support as and

when needed. For instance, elderly workers

can command assisted means of transport

when required or young children can be

closely monitored in a non-intrusive manner

to help in their growth and development.

• interfacing – the environment of the building

needs to interface with the exterior. Passive

designs can optimise natural ventilation

and lighting with the outside, and with the

implementation of technology, these factors

can be enhanced with automated wind and

light chimneys and angling of shading to

achieve the best effect. The interface can

also be to a smart grid whereby energy to

the building can be managed according to

demand and supply to level off-peak periods

and to blend the use of clean renewable

energy sources with traditional fossil fuel

power sources. From a social perspective, the

interface is about connecting people so that

their movement from homes to workplaces

is seamless and efficient. Use of the same

smart card for both access and public transit

use is feasible (and already in practice); the

next step could be to use this system to

measure personal carbon footprints linked to

a healthy lifestyle scoring mechanism, which

could encourage activities like walking or

cycling to work.

• decision making – smart buildings eventually

acquire artificial intelligence which can be

put to good use in developing predictive

logic, so that the environmental performance

and the social performance are already

pre-calculated, thereby establishing energy

consumption patterns for any given time of

day. This is information that can be used as

leverage over the supply companies so that

sustainable building owners can negotiate on

tariffs. As another example, by connecting

to a local weather station from where more

accurate external temperatures are taken

along with a forecast for the coming week,

the smart building can be programmed to

link this information to predicted occupancy

(room booking systems and outlook calendars)

and alert management staff to any possible

difficulties in adhering to a defined power

budget. This resource can be applied as

easily to water demand, waste collection,

food delivery and many other applications.

For social needs, the building could be

programmed for different demographic needs,

and the same predictive logic can optimise

temperature and light settings, or even

shopping needs or food deliveries.

discussion


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• holistic units – buildings of the future will

become self-contained in terms of resource

needs. Energy will be provided internally

by renewable energy technologies and

supplemented by the grid. In cases where

excess energy is produced, the building

owners can sell power back to the utilities.

With rainwater harvesting systems and micro-

filtration beds using nanotechnology, water will

be recycled many times, and mini-composters

will deal with organic waste which can be

used to nurture plants in roof gardens and

vertical green walls. The green landscaping will

become an aesthetic feature for the pleasure

and recreation needs of inhabitants as well as

a means of growing food.

May 2012

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ConClusions

• Buildings of the future have to take into

account the challenges and the opportunities

brought about by technological, environmental

and societal changes. We considered three

approaches: smart buildings; green buildings;

and people-friendly developments.

• Smart buildings have the advantage

of automated systems that control the

environment and communicate with users.

With the increasing levels of sophistication in

technology, communications and connectivity,

smart buildings will become an integral part of

our lifestyles – something that the construction

industry should recognise. In constructing new

buildings or refurbishing old ones, the ‘smart’

way to build smart buildings is to move away

from traditional methods of construction and

to look at multi-disciplinary and integrated

approaches, as well as end-user perspectives.

• Furthermore, with the world’s increasing

concern on climate change, buildings will

feature as one of the key areas for low-

carbon performance. Supported by smart

technologies, green design will be a vital

part of the new outlook on a building’s

performance. In the absence of other

benchmarks, certification schemes like

LEED and BREEAM will most likely become

requisites for any construction project and

the industry should pay heed to how this can

serve as a reminder as well as an opportunity

for a responsible and profitable business

model.

• Societies are different across the world, but

common to all are the needs for comfort,

liveability and demographic change.

• Integration of these three approaches will form

an enabling, interfacing, decision-making and

holistic model for sustainable buildings of the

future. The construction industry is well placed

to play a crucial role to take on this task.


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references

APUF-5, United Nations Conference Centre in

Bangkok, Thailand, 20 to 25 June 2011. See www.

hfhap.org/ap_update/apnews_125(lyris).html

[Accessed 24 November 2011].

Fisk W J (2000) ‘Health and productivity gains from

better indoor environments and their relationship

with building energy efficiency’, Annual Review

of Energy and the Environment, 25: 537–66.

Available at: http://eetd.lbl.gov/ie/viaq/pubs/

FiskAnnualReviewEE2000.pdf [Accessed 23

November 2011].

Mitchell R (2005) ‘The rise of smart buildings’,

Computer World, 14 March. Available at: www.

computerworld.com/s/article/100318/The_Rise_of_

Smart_Buildings [Accessed 22 November 2011].

National Standard of People’s Republic of China

(2006) Evaluation Standard for Green Building,

Ministry of Construction of the People’s Republic

of China and National Head Office for Quality

Supervision, Inspection and Quarantine of the

People’s Republic of China. Available at: www.

aiahk.org/ca/pdf/Eval%20Std%20for%20Grn%20

Bldgs%20GB%20T%2050378-2006_notes%20

scoring%20syst.pdf [Accessed 23 November 2011].

Romm J and Browning W (1994) Greening

the Building and the Bottom Line: Increasing

Productivity Through Energy-Efficient Design,

Snowmass, CO.: Rocky Mountain Institute. ISBN-

13: 978-9996358098.

Sinopoli J (2011) ‘Predictions for smart buildings

in 2011’, Spicewood, TX.: Smart Buildings,

LLC. Available at: www.smart-buildings.com/

pdf/2011janpredictions.pdf [Accessed 23

November 2011].

Tang T and Stratigaki E (2010) Study for

Development of Green Building Labeling Systems

in Hong Kong, Hong Kong Green Building Council,

AECOM Report.

Telindus (2007) Intelligent buildings – The Future of

Facilities and Information Management, Odiham,

Hampshire: Telindus Belgacom ICT. Available at:

www.telindus.ie/resources/intelligent_buildings.pdf


United Nations (UN) World Urbanization Prospects:

The 2009 Revision – Highlights, New York: UN,

Department of Economic and Social Affairs,

Population Division. Available at: http://esa.un.org/

unpd/wup/Documents/WUP2009_Highlights_Final.

pdf [Accessed 24 November 2011].

WHO (2005) World Population Ageing: 1950–2050,

Geneva: WHO, Department of Economic and Social

Affairs, Population Division. Available at: www.

un.org/esa/population/publications/WPA2007/

wpp2007.htm [Accessed 23 November 2011].

WHO (2006) Global Age-friendly Cities: A Guide,

Geneva: WHO. ISBN-13: 978-9241547307.

Available at: www.who.int/ageing/publications/

Global_age_friendly_cities_Guide_English.pdf


May 2012

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Zhang Y and Altan H (2011) ‘A comparison of

the occupant comfort in a conventional high-rise

office block and a contemporary environmentally-

concerned building’, Building and Environment,

46(2): 535–45.

useful websites

BRE Environmental Assessment Method

(BREEAM). Available at: www.breeam.org/page.

jsp?id=66 [Accessed 22 November 2011].

Building Environmental Assessment Method

(BEAM). Available at: www.beamsociety.org.hk


Comprehensive Assessment System for Built

Environment Efficiency (CASBEE). Available at:

www.ibec.or.jp/CASBEE/english/ [Accessed 23

November 2011].

Green Mark. Available at: www.bca.gov.sg/

greenmark/green_mark_buildings.html [Accessed

23 November 2011].

Green Star. Available at: www.gbca.org.au/green-

star [Accessed 23 November 2011].

Leadership in Energy and Environmental Design

(LEED). Available at: www.usgbc.org/LEED


National Australian Built Environment Rating System

(NABERS). Available at: www.nabers.com.au


World Green Building Council. Available at: www.

worldgbc.org/site2/ [Accessed 23 November 2011].


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about the author

Dr Thomas Tang is a

practitioner in sustainability

and environmental

management, which includes

sustainable planning and

design, policy research, corporate social

responsibility, waste management, energy, low-

carbon design and stakeholder engagement.

As well as being a practitioner in sustainability, Dr

Tang has worked with NGOs to help set up rural

social enterprises in China, India, Cambodia

and Laos.

In the past 20 years, he has worked on

assignments for the World Bank, the International

Finance Corporation, the UN Development

Program and the Clinton Global Initiative, as well

as many private clients. He has also advised

the governments of Hong Kong and Singapore

on sustainability and policy issues, particularly

in resources and wastes. Dr Tang has been a

speaker on a number of international forums,

including the Conference Board, the C40

roundtable and the B4E Climate Summit series.

Dr Tang is a certified management consultant, and

he uses his skills to help organisations deal with

change as part of sustainability. A former president

of the Institute of Management Consultants (Hong

Kong), he is also an experienced trainer and

frequently facilitates workshops for organisations

on change leadership. Dr Tang is a visiting scholar

at the University of Hong Kong, where he has

taught sustainability and innovation.

Currently, he is the Corporate Sustainability

Director for AECOM in Asia. AECOM is a Fortune

500 company listed on the New York Stock

Exchange engaged in planning and design

engineering services in power, transport, water,

buildings and waste. Dr Tang’s responsibility

covers the Asia region and involves directing

sustainability projects in support of eight regional

business practices. He also provides internal

corporate services as the Head of the Office

for Corporate Sustainability, aimed at reducing

the company’s operational footprint regarding

electricity, water, transport and paper. In 2010, the

company was awarded a special Merit Award for

Sustainable Development Performance by Best

Practice Magazine.

Dr Tang is also responsible for running AECOM

Asia’s Time Bank, set up to encourage corporate

volunteerism and other corporate social

responsibility initiatives within the company.

affiliations and associations

• Certified Management Consultant (since 2000)

• Chartered Member, Institute of Environmental

Management and Assessment (since 2011)

• Chartered Member, Royal Society of Chemistry

(since 1985)

Contact: [email protected]

© College of estate management 2011 All rights reserved by the College of Estate Management. No part of this publication may be reproduced, stored or transmitted in any form or by any means without prior written permission from the College of Estate Management. CEM warrants that reasonable skill and care has been used in preparing this report. Notwithstanding this warranty, CEM shall not be under liability for any loss of profit, business, revenues or any special indirect or consequential damage of any nature whatsoever or loss of anticipated saving or for any increased costs sustained by the client or his or her servants or agents arising in any way, whether directly or indirectly, as a result of reliance on this publication or of any error or defect in this publication. CEM makes no warranty, either express or implied, as to the accuracy of any data used by CEM in preparing this report nor as to any projections contained in this report which are necessarily of any subjective nature and subject to uncertainty and which constitute only CEM’s opinion as to likely future trends or events based on information known to CEM at the date of this publication. CEM shall not in any circumstances be under any liability whatsoever to any other person for any loss or damage arising in any way as a result of reliance on this publication.

© College of estate management 2012 All rights reserved by CEM. No part of this publication may be reproduced, stored or transmitted in any form or by any means without prior written permission from CEM. CEM warrants that reasonable skill and care has been used in preparing this report. Notwithstanding this warranty, CEM shall not be under liability for any loss of profit, business, revenues or any special indirect or consequential damage of any nature whatsoever or loss of anticipated saving or for any increased costs sustained by the client or his or her servants or agents arising in any way, whether directly or indirectly, as a result of reliance on this publication or of any error or defect in this publication. CEM makes no warranty, either express or implied, as to the accuracy of any data used by CEM in preparing this report nor as to any projections contained in this report which are necessarily of any subjective nature and subject to uncertainty and which constitute only CEM’s opinion as to likely future trends or events based on information known to CEM at the date of this publication. CEM shall not in any circumstances be under any liability whatsoever to any other person for any loss or damage arising in any way as a result of reliance on this publication.

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