Glass Bottle Levy To Take Effect Next Year
"); jQuery("#212 h3").html("

"); });
2022-11-03 HKT 18:46
The Legislative Council on Thursday passed a motion to introduce a charging scheme for glass beverage containers in Hong Kong.
The scheme, which will take effect in the second quarter of next year, is aimed at encouraging bottle suppliers to do more to recycle their containers.
Under the arrangement, glass beverage bottle importers and suppliers are required to pay a HK$0.98 levy for every one-liter bottle they distribute in the city.
The environment and ecology minister, Tse Chin-wan, said the scheme is in line with the city’s “polluter pays” principle, and called it a step forward in environmental protection.
He noted that two glass management companies have already been providing waste glass container collection and treatment services across the territory.
Under the new scheme, bottle importers and suppliers are required to register with the Environmental Protection Department at the start of next year.
Tse said exemptions will be provided for registered firms which have in place a recovery and reuse arrangement for their beverage bottles. However, they will have to pay an application fee of HK$9,250.
Environmental group Green Earth said officials should also do more to encourage consumers to recycle their bottles.
"The government can introduce a deposit-and-return system, so that when a consumer buys a bottle of wine, you pay a deposit, then the consumer will try to find ways to return the bottle," the group's founder, Edwin Lau, told RTHK.
DAB lawmaker Elizabeth Quat supported the new charging system, saying she hopes its implementation can improve Hong Kong’s overall recycling network.
EDENA Unveils AI System To Automate Sovereign Asset Settlement
At the DAT Summit Hong Kong, EDENA Capital Partners launched the Autonomic Financial OS. The company describes it as an... Read more
Naver Exposes 15,000 Knowledge IN Users Activity, Moves To Improve Privacy Controls
Naver has announced measures following an incident in which around 15,000 users’ activity histories on Knowledge iN w... Read more
Japans PayPay Files For US IPO, Targets Valuation Above US$10B
SoftBank‘s digital payments unit, PayPay, has filed publicly for a US IPO. The listing could be the largest by a Japa... Read more
Inference Research Launches In Hong Kong With US$20M Seed Funding
Inference Research, an AI-native quantitative trading firm based in Hong Kong, has announced its launch and the expecte... Read more
London-Based Unlimit Appoints Michele Fung To Lead APAC Expansion
London-based fintech company Unlimit, which provides a broad range of financial technology services, has appointed Mich... Read more
SoFi Launches Digital Asset Trading In Hong Kong Through OSL Partnership
SoFi Securities (Hong Kong) (SoFi Hong Kong) and OSL Group have announced a partnership to offer digital asset trading ... Read more
