CDL MD says it's not sustainable to have long-term govt subsidies
Jamie Lee, Business Times 2 Aug 08;
DEPENDING on the government for more subsidies to encourage developers to go green is not sustainable, said City Developments managing director Kwek Leng Joo.
'I don't think it's sustainable to look to the government for grants and subsidies on a long-term basis,' said Mr Kwek, who was speaking to reporters on the sidelines of the memorandum of understanding signed between the company and NUS School of Design and Environment's Master of Science, Environmental Management (MEM) programme to work on green solutions for the building sector.
'We have to make our own plans and it's not a one-way street,' he said, adding that while the returns may not be 'direct and apparent' now, green buildings will become more attractive to buyers who can lower their utility bills through green features such as photovoltaic cells when their prices fall over time.
City Developments currently audits the green practices of its contractors and those who score better stand a higher chance to bid for tenders for subsequent projects.
But Mr Kwek added that smaller developers are less likely to be able to influence construction and architectural firms to go green because they have little influence over the supply chain.
'Perhaps if you are a very small developer. . . then you will not be in the position to influence, to help direct the other players in the whole value chain,' said Mr Kwek. 'But we can take up that role and we've been doing it.'
During the event, Tommy Koh, who chairs the MEM advisory committee, said he had proposed to the government in 1992 about the potential of solar energy, but the idea was shot down because it was not seen to be commercially viable.
'How wrong they are,' said Prof Koh, adding that Singapore is just at the beginning of its 'green journey'.
'We've not done a bad job in balancing the need to provide adequate housing for 4.6 million people and having room for garden, parks and nature,' he said.
'But we've also done some bad things. We've largely destroyed our mangrove forest. We need to reclaim land because we need additional space but in the process, we've destroyed most of our coral reefs,' he added.
