More than 200 greentech companies currently operate in the city, of which some are equipped with ‘globally competitive’ technologies and are making inroads into the mainland Chinese and overseas markets.
The government should further open the local environment-protection market to attract investment from Greater Bay Area companies, says a vice-president at the Hong Kong-listed company.
CLP will source more nuclear energy from China’s Guangdong province to feed its power grid and sees business opportunities in decarbonisation as it phases out coal-based assets.
Start-up H2 Solution is planning to set up its operations at Hong Kong’s science and technology park in Pak Shek Kok as a launchpad into overseas markets.
China’s global dominance in the production of three key energy transition products – electric vehicles, batteries and solar panels – will face more challenges this year from industry overcapacity, price wars and trade barriers, French bank Natixis says.
GRST, the Hong Kong green technology start-up which won Prince William’s Earthshot Prize, is in talks to deploy its eco-friendly batteries in a range of electrical applications, COO Karen Ng says.
Hong Kong’s recycling pace lags that in Europe and the US, but government intervention could help transform the landscape as growing landfills contaminate the soil.
Banks need to adopt more forward-looking and long-term metrics on risk-return assessments to meet growing climate financing needs, according to top bankers at the Climate Business Forum.
Hong Kong launched a week-long series of sustainability-themed discussions, exhibitions and events as the city pushes its plan to transform itself into a centre for both green technology and green finance solutions.
China is at risk of missing its climate targets and suffering major economic losses unless it takes decisive actions to put a halt to runaway coal power plant expansion and reform outdated power grid management, says Centre for Research on Energy and Clean Air.
GGSN, which is partly owned by New World Group, is in talks to set up research, product development and marketing facilities in Hong Kong, where it hopes to demonstrate its autonomous charging devices in the car parks of offices and malls.
‘Hong Kong has three strengths that are indispensable for fostering climate financing: technical, legal and financial knowledge,’ says Riccardo Puliti, IFC regional vice-president.
Investment products where security selection is based on companies’ ESG scores outperform in the long term, data has shown.
China’s dairy industry has stepped up its automation and innovation drive, and food packaging and equipment maker Tetra Pak is helping in these efforts which seek to cut production costs, through reduced wastage and water usage, while tempering greenhouse gas emissions as well.
Under the EU Carbon Border Adjustment Mechanism a tax of 6 per cent will be levied on steel in 2026, which will rise to as much as 21 per cent in 2034, Goldman estimates. It is part of the EU’s plan to level the field for domestic producers.
EU regulations and laws aimed at achieving the region’s 2050 net zero ambition ‘can be considered a kind of protectionism’ and have major implications for Chinese firms, says TUV Rheinland technical manager.
Exporters of certain carbon-intensive products have six more months to set up systems to collect, calculate and report emissions data, and their exports are likely to face import duties starting in 2026.
Hong Kong will play host to a green and sustainable finance training event in June for several hundred policymakers, regulators and finance professionals in dozens of developing nations.
The two producers of the metal that powers EV batteries expect 2023 net profit to decline by as much as 80 per cent.
A Hong Kong business group promoting environmental sustainability has joined flagship airline Cathay Pacific and 11 other partners to push for greater adoption of sustainable aviation fuel.
Proof-of-concept subsidy scheme to launch in first half of year to provide early-stage funding for pre-commercial companies focusing on the collection and analysis of sustainability data.
State-backed China Merchants Group will manufacture WIndWings, which cuts fuel consumption and carbon emissions.
As China prepares to deal with 35 million tonnes of waste from decommissioned wind and solar equipment by 2030, the proposed standards aim to promote reuse and recycling while banning landfilling and burning.
Public-private collaboration to fund start-ups, attract and nurture talent pool can help city achieve green tech, finance hub goal, FinTech Association of Hong Kong’s Sandeep Sethi says.
The companies are among 320 organisations worldwide that are supporting a global initiative to reverse nature degradation caused by human activity and climate change.
In this issue of the Global Impact newsletter, we look back a the 28th United Nations climate change conference, Cop28, which took place in Dubai.
Aramco and Suzhou-based Since Gas’s pilot plant, which aims to demonstrate the feasibility of a technology for converting ammonia to hydrogen, is part of Aramco’s nearly half a billion US dollars of annual R&D efforts on sustainability.
Businesses in Asia-Pacific are not moving fast enough on climate action. In fact, they are slowing down, according to a study by accounting and consulting firm EY.
Technology holds the key to solving the climate crisis but needs more government support and private-sector funding to ensure its commercialisation, speakers at the FII Institute’s first Asia conference said.
Multilateral development banks are looking to scale up their climate-related financing and are also trying to mobilise the private sector in this endeavour, AIIB vice-president Danny Alexander says.