Hong Kong can do more to help finance the transition of high-emitting sectors and heavy-polluting industries to more sustainable business activities as a hub for the region, Financial Secretary Paul Chan says.
The ISSB, a sustainability-reporting standard-setting body, will vote this week to add biodiversity-related disclosures to its work plan, paving the way for such standards to become the global baseline.
Hong Kong’s representatives to the Asia-Pacific Economic Cooperation business advisory council plan to use the platform to showcase the city as more than just a finance hub.
All financial institutions licensed by the SFC should be required to submit ESG reports for the development of a comprehensive ecosystem of sustainability disclosures, City University of Hong Kong says.
The global drinks giant said all 500ml bottles for Coca-Cola Original, Coca-Cola No Sugar and Coca-Cola Plus in Hong Kong have shifted to recycled polyethylene terephthalate (rPET), the first such use of the material in China.
Reaching a sufficient scale and the low cost of carbon-removal credits remain as major challenges for making microalgae a viable decarbonisation technology.
Companies in Asia-Pacific will need education, cooperation with suppliers and exchanges of best practices to meet tightening climate-disclosure requirements, says Alexander Bassen of the Greenhouse Gas Protocol’s Independent Standards Board.
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 90-year-old converted mansion, Jessville Manor, has changed hands for HK$207 million (US$26.5 million), adding to evidence that the recent scrapping of property curbs may be starting to revive the luxury housing market.
The number of sustainability funds has tripled since the world’s largest emitter of greenhouse gases pledged to peak emissions by 2030 and reach carbon neutrality by 2060, with local asset managers seizing opportunities arising from the green transition, Morningstar says.
The international ratings agency has stripped state-backed property giant China Vanke of its investment-grade credit rating amid concerns over its liquidity and ability to access funding amid declining sales.
One Earth Summit, debuting on March 25, aims to ‘encourage accountability’ by asking companies to show their work annually.
US electronic payment platform operator PayCargo is teaming up with local firm Autotoll to offer its solution to the logistics industry, banking on Asia’s biggest air cargo hub to expand its footprint.
‘It’s not just about addressing a global issue that might affect everybody, it’s also about protecting our people in our own land,’ Eddie Yue says.
The volume of bonds issued to finance sustainable ocean-friendly economic activity has grown across the world, but the bankability and credibility of marine preservation projects funded by these financial instruments have posed challenges to their adoption, the Climate Business Forum hears.
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.
To develop greentech and pursue the city’s sustainability goals in transport, buildings and construction, Hong Kong needs an ecosystem that brings together partners across the supply chain, experts said at the summit on Monday.
The Hong Kong Monetary Authority is preparing a transition finance framework to classify whether activities can help carbon-intensive firms reach net-zero emissions, to support the development of the city as an international green and sustainable finance hub.
Acoustic Metamaterials Group, a smart materials and acoustics firm, aims to expand the use of recycled plastic in construction to lower the industry’s carbon footprint and reduce noise pollution.
HKUST and a cross-agency green finance body led by the city’s financial watchdogs have launched two new greenhouse gas emissions calculation and estimation tools to help firms with their sustainability reporting.
China’s growing energy consumption, faltering progress on decarbonisation, and limitations on new energy capacity installation pose major challenges for the world’s largest greenhouse gas emitter’s climate goals, according to the head of the National Energy Administration (NEA).
Yau Lee Holdings is seeing greater demand for construction techniques that improve the sustainability of the built environment while also cutting costs, waste and construction time.
Macau casino operator MGM China reported a surge in revenue in the fourth quarter of last year amid a rollback in pandemic-related curbs, and analysts said its financial performance will continue to improve in 2024.
Numerous sectors are creating more green jobs, with candidates who can prove their ability to effectively implement green initiatives especially prized, a recruiter says.
Clearbot’s latest fleet of self-driving electric boats will each be able to pick up 500kg of water-borne plastic and other rubbish when they are deployed in March. That is double the capacity of each of the company’s current robotic cleaners operating in the seas and lakes of India.
China’s offshore green bond market stumbled last year, with issuance hitting a record low amid rising US interest rates and an absence of Chinese property developers.
MTR Lab, a subsidiary of Hong Kong’s railway operator that invests in technology, is eyeing opportunities in property and construction innovations that are focused on sustainability and environmental, social and governance (ESG) factors, as it hopes to help the city reach carbon neutrality by 2050.
The launch of the new-generation eCanter light-duty electric truck is the commercial vehicle’s first release in the Asian market outside Japan.
The proportion of Asia-Pacific companies incorporating ESG metrics into their incentive plans increased last year compared with 2022 as investors and stakeholders urge companies to follow sustainable business practices.
Hengda Real Estate Group Yuedong is selling its entire 65 per cent stake in Shantou Hengmeng Property Development for US$19.4 million, according to a filing to the Hong Kong stock exchange late on Thursday.
