It is fashionable, the world over, to talk about government budget-stimulus measures and job-creation packages. There is also a trend promoting the transformation to a 'green' and 'low carbon' economy, as well as creating 'green' jobs. What might work in Hong Kong? A green economic approach needs to be defined for policymaking purposes. Now is the right time to shape a new kind of prosperity, based on quality of life rather than materialism.
If the severe acute respiratory syndrome outbreak in 2003 and the current financial crisis have taught us anything, it is to treasure how we live rather than to define ourselves by what we buy. Good health and well-being have become much more important to Hong Kong people, and they will only become more important. The green agenda reminds us that our good health depends on ecological health. Therefore, protecting the environment and reversing climate change are vital. A degraded environment will definitely compromise our health.
Thus, a green economy is one based on creating prosperity and jobs while stabilising the climate, protecting the environment, reversing its degradation and promoting people's health. This new economic vision works within ecological boundaries of resource renewal and waste absorption, while people's health is also a key focus. This means we must pay more attention to what the planet is telling us about ecological tipping points.
Mainland China has several strategies, which are already national policies, that Hong Kong can adopt while making the transition to a green economy.
First, Hong Kong must strive to be more resource efficient, which means conserving all raw materials, including water. When we use raw materials, we must do so as efficiently as modern technology and good management allow us. For example, we must become much more energy efficient in everything, from power generation to transport, manufacturing, property development and consumer choices.
Second, we should aim to achieve the greatest number of benefits across the board. For example, as policymakers seek ways to improve energy efficiency, they could also address the impact of air pollution and climate change. Third, we must reduce waste massively, by redesigning products, improving their durability, and promoting reuse and recycling. National policymakers call this the 'circular economy'.
