[photopress:energy_saving.jpg,full,alignright]Starting January 1, energy-saving initiatives will be obligatory for all real estate investment applications in China.
An official with the National Development and Reform Commission (NDRC) said the commission will require departments to increase the examination and approval of real estate investment applications.
New energy-saving rules state all real-estate investment applications include practical demonstrations of energy consumption and savings. The notice increases supervision and outlines punishments for companies that fail to meet the new regulations.
China has set a unit energy consumption reduction target of 20 percent for the five-year period from 2006 to 2010. The goal, approved by China’s legislative institution, will legally guide social and economic development in the five-year period.
Bit of a problem here. That is what the rules say. Reality is a little different. China’s energy consumption per unit of GDP increased by 0.8 percent in the first half year and indexes for major pollutants continued to rise.
An official said the assessment of real estate projects will prevent energy waste and force developers to adopt up-to-date green technologies. Possibly further and stronger action will be required to meet the target figures.