Hong Kong Science Park unveils zero emissions plan as city eyes transformation into a green tech, finance hub
- HKSTP’s near-term goals – which should be achieved by 2030 – include reductions of 42 per cent in carbon emissions in operations
- HKSTP is drawing up a decarbonisation road map with a key focus on areas such as building energy efficiency, retro-commissioning and retrofitting
HKSTP’s near-term goals – which should be achieved by 2030 – include reductions of 42 per cent in carbon emissions in operations. The targets also include a reduction of 25 per cent in carbon emissions in downstream leased assets such as carbon emission from tenants and waste, and a cut of 52 per cent in carbon emissions intensity per square metre from capital goods, such as embodied carbon emissions.
By making the commitment, HKSTP has become Hong Kong’s first statutory body to commit to net-zero by 2045, five years ahead of the city’s Climate Action Plan 2050 Carbon Neutrality target.
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“Hong Kong is fast emerging as a leader and a first-mover in green tech and green finance innovation. We hope our Net-Zero 2045 vision can help lead the way by setting new operating benchmarks and show Hong Kong businesses and industries that Net-Zero is a viable business goal,” said Albert Wong, HKSTP CEO.
“HKSTP is building a green tech and green finance ecosystem to spark a cluster effect to launch climate and sustainability innovations from Hong Kong to the world and vice versa. With more than 100 green tech ventures already, HKSTP believes that creating a virtuous cycle of green innovation and investment will drive sustainability, which further drives even more innovation,” he said.
Currently, HKSTP is drawing up a decarbonisation road map with a key focus on areas such as building energy efficiency, retro-commissioning and retrofitting.
The commitment also underscores HKTSP’s support for Hong Kong’s initiatives to transform the city into a green technology and finance centre, which were unveiled by Financial Secretary Paul Chan Mo-po in his budget speech in February.
Among the initiatives Chan outlined was a plan to build a green tech “ecosystem” to attract the best people and enterprises, and encourage collaboration in industry, academia and research communities to accelerate commercialisation of innovative technology.
The measures also include help for green projects to obtain capital “more conveniently and flexibly” through innovative financing arrangements on top of traditional channels, and making it easier for new ventures to obtain independent certification for their green credentials – such as carbon emission reduction capacities – which is essential for their fundraising activities.
