A revitalisation project involving four buildings not only has the future of the city’s invaluable heritage at stake, but also a staggering HK$600 million bill for renovation and operation subsidies. It is hoped the buildings have found the right operators.
The city can play a bigger role in channelling international funds into decarbonisation projects in China if it sets its bar higher to meet the requirements of a broader range of international investors, said Civic Exchange research analyst Bon Cheung.
‘We cannot recycle our way out of this mess’; Paris agenda includes ban on single-use plastic items, ‘polluter pays’ schemes and tax on new production.
Hong Kong needs to build a battery-recycling facility as it faces the challenge of sustainably processing 6,000 tonnes of used batteries by 2026 amid a surge in electric vehicles, experts say.
China should set a clear timetable to expand the scope and robustness of its carbon trading market, as its progress has been disappointing, expert says.
CEO of Circ, part of Nan Fung Group’s The Mills Fabrica incubator, says its technology addresses the largest waste stream in the textile industry.
The Greater Bay Area is expected to continue to lead the way in meeting China’s demand for capital to fund its decarbonisation push, facilitating up to US$28.29 trillion in financing.
Hong Kong can leverage its vibrant ecosystem for global family offices and asset owners and become a hub for impact investing, estimated at US$1.16 trillion globally, as sustainability awareness increases after the coronavirus pandemic.
Spurred by financial incentives and a desire to help fight climate change, some restaurant and mall owners are sending leftovers to the government’s pilot processing and recovery centre in North Lantau, where it can be converted to biogas to generate power.
Significant gap remains between listed firms’ climate commitments and their carbon emissions according to MSCI’s Net-Zero Tracker, says analyst Sylvain Vanston.
Hong Kong has approved grants for green and sustainable finance debt instruments with underlying issuances worth more than US$71.5 billion, according to Secretary for Financial Services and the Treasury, Christopher Hui Ching-yu.
Higher emissions driven by economic rebound after the end of long zero-Covid policy, stimulus measures and weak hydropower generation.
Financing flows into emerging markets in Asia for meeting climate change and other social challenges are far from enough, and potential investors should not wait because both financial and social objectives can be achieved, an impact investing conference has heard.
Adoption of the impending ISSB framework will be a ‘game-changer’ that accelerates climate-mitigation efforts, says Helge Muenkel.
Regulators and manufacturers intensify battle against greenwashing, a practice which could create disincentives for society to take decarbonisation and other sustainability actions seriously.
Hong Kong companies should conduct a thorough assessment of their assets and operations’ exposure to climate-change risks, even if the city’s financial markets are yet to price them in, according to an analytics provider.
Swire Properties, Towngas and Vitasoy are pilot testing the Taskforce on Nature-related Financial Disclosures framework due to be launched in September.
Baosteel will invest US$437.5 million for a 50 per cent stake in the proposed joint venture with Saudi Aramco and PIF. The partners aim to make project the world’s ‘most competitive low-carbon emission thick steel plates’ plant.
Poaching is on the rise to fill roles such as chief sustainability officer and sustainability director, with those changing jobs getting salary increments of up to 30 per cent, search firms say.
With regulators in the Asia-Pacific region poised to take action against greenwashing by companies, asset managers must step up the scrutiny of climate impact and sustainability disclosures, a panel discussion has heard.
China’s Greater Bay Area is promoting several decarbonisation projects that will embrace international disclosure and verification standards as it seeks to draw more green financing to help fund the country’s plan of achieving carbon neutrality by 2060.
Global efforts like the quality assessment framework to enhance voluntary carbon markets’ integrity will improve transparency and boost credit buyers’ confidence, analysts say.
Fintech, blockchain and artificial intelligence will all help companies face the challenge of meeting more stringent international and local standards, Earth Forum speaker says.
Effort would boost the region’s economic output by up to 6.3 per cent, with households facing higher prices and higher taxes, Asia Society Policy Institute says.
The Nature Conservancy is studying various environmental initiatives in Asia-Pacific, with the aim of turning them into projects investors can get behind.
HKEX said the tougher disclosure rules will enable companies to get ready for climate-related reporting requirements based on the ISSB standard.
Increased connectivity and information sharing, enabled by digital technology, will improve acceptability of Hong Kong’s nascent voluntary carbon trading platform.
Heidi Yu Spurrell, founder and CEO of Hong Kong-based food sustainability consultancy Future Green, explains how the 2017 book ‘Sustainable Diets’ changed her life.
Jiangsu-based GCL Technology could unveil plans to set up its first overseas plant either in the Middle East or Europe as soon as this year, co-CEO Lan Tianshi said.
The ‘west-to-east’ demonstration pipeline will stretch over 400km from Inner Mongolia to Beijing, according to China Petrochemical Corp.