How Hong Kong can lead Asia on climate change through innovation

As the city strives to reach carbon neutrality by 2050, the rest of Asia will look to Hong Kong for best practices, inspiration and support
By being ahead of the innovation curve, Hong Kong has a chance to be an early mover and reap the economic rewards for going green

Ken O’Flaherty

Published: 8:45am, 16 Oct 2021

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As the Hong Kong government announces initiatives to make the city more liveable, climate models cited by the Observatory predict “above-normal” temperatures for southern China this autumn.

Supported by Hong Kong’s commitment to reach carbon neutrality by 2050, all sectors, businesses and levels of society are feeling the heat to act now against climate change.

Although I am writing from the United Kingdom, far from Hong Kong and on a different continent, we live under one world climate. If we do not transition to renewable energy sources and reach net-zero targets, summers will continue to get hotter, weather more erratic and energy bills higher.

As the recent Intergovernmental Panel on Climate Change report made clear, if we do nothing, the consequences will be unfathomably costly – for humanity, for our environment and for economies.

In previous years, many people saw being sustainable as requiring major sacrifices – making hefty investments in new processes and technologies for little economic gain.

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This is now demonstrably not the case. Great innovation is under way with accessible, inspiring and ingenious ideas being commercialised every day across the world, including in Hong Kong and the UK.

The UK, for example, is home to the world’s first fleet of hydrogen-powered buses, the world’s largest offshore wind farm and Europe’s first mass-production battery factory for electric vehicles.

MacRebur recycles plastics to make road surfaces. Notpla has made food and drinks packaging disappear, and Belu’s filtration technology reduces the sale of bottled water by making tap water safer and more palatable.

To support these inventions, there is a thriving research and development ecosystem backed by billions of pounds of investment from public and private finance. This is facilitated through the issuance of sovereign green bonds and the London Stock Exchange’s range of green investment lines.

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There is growing evidence that green industries are better for job creation. Green energy development can provide more jobs compared to investment in the fossil fuels sector.

It’s also better for the economy – the UK reduced its greenhouse gas emissions by 43 per cent between 1990 and 2019 as GDP grew by 62 per cent. Renewables are now the world’s cheapest source of energy, and innovation got us here.

Clean growth is possible through nurturing innovation. That is why I am optimistic. The market has changed, and green growth is rapidly becoming the obvious path forward. However, it is the early adopters of innovation who will be able to reap the economic rewards for going green.

Hong Kong, a leader in Asia, is ready to propel a grander sustainability effort. As the city strives to reach carbon neutrality by 2050, the rest of Asia will look to Hong Kong for best practices, inspiration and support.

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In Hong Kong, partnerships with British entities are working to decarbonise public transport, and smart street lights are illuminating the city. Consultants, designers and engineers are collaborating to build some of the world’s most sustainable buildings.

Some examples are Tai Kwun, Victoria Dockside, K11 Atelier King’s Road and T-Park – a unique combination of sewer sludge incinerator and spa facility. However, as with many other cities, there is still a long way to go.

The government has indicated several areas of focus to accelerate its ambitions. These are energy supply, low-emission transport, low-carbon technologies, air quality, waste management, smart city infrastructure and sustainable finance.

Although the upcoming United Nations Climate Change Conference in Glasgow is set to see partners worldwide reinvigorate their efforts and net-zero targets, we should not wait for further guidance.

If we are to build a better and brighter world, all of us need to fuel the sustainability adjustment for our organisations and communities. I urge you to seek innovative solutions for your sustainability goals. Find the partnerships that will enable you and your company to save energy, save water and reduce waste.

The pandemic has shown that we can take collective action to prevent the spread of infection and save lives. The climate emergency requires the same. Let’s collectively and collaboratively implement today the sustainability solutions of tomorrow.

Ken O’Flaherty is the UK government’s COP26 Regional Ambassador to Asia-Pacific and South Asia

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