'HK Needs More Aggressive Carbon Cutting Policies'
"); jQuery("#212 h3").html("

"); });
2021-01-28 HKT 18:59
The Hong Kong government has been urged to roll out aggressive policies to cut carbon emissions – and roll back projects considered highly polluting, such as the mega-reclamation project off Lantau – in order to meet its goal of climate neutrality before 2050.
NGO CarbonCare InnoLab said on Thursday that the policies should be part of the upcoming climate action plan, due in a few months’ time, as the SAR is currently not on track to meet the 2050 target.
Chief Executive Carrie Lam announced the goal in her latest policy address, a couple of months after President Xi Jinping declared that China would aim for carbon neutrality by 2060.
Lam said her government would update its official climate policy plan by the middle of 2021 with more proactive strategies.
The research director of CarbonCare InnoLab, John Sayer, said the target Lam laid out appears to be inconsistent with other initiatives mentioned in the policy address.
"Before that came all kinds of announcements, earlier in the policy address, about third runway, about new bridges, about new carparks, sections on innovation, technology, smart cities and education... none of them mentioned a low-carbon pathway," he said.
"There is no mention of the concept of green buildings and low-carbon development,” he added. “While we welcome this statement, it seems to be divorced, or an orphan statement, from the rest of the policy address."
He said the upcoming climate action plan should be "excitingly aggressive" in order to reach the target of carbon neutrality before 2050.
The group's CEO, Chong Chan-yau, said it’s somewhat disappointing that Hong Kong is falling short right now, but there was room and opportunity for improvement.
He said the Carrie Lam administration should improve governance over green policies and consider abandoning the massive Lantau Tomorrow Vision project.
ZA Bank Brings Nasdaq Data To Hong Kong, Expanding US Stock Access And Investor Education
ZA Bank and Nasdaq have announced a collaboration aimed at enhancing digital wealth management in Hong Kong and interna... Read more
Hong Kong To Study One‑Stop Infrastructure For Equities, Bonds And Digital Assets
The Hong Kong Monetary Authority’s (HKMA) CMU OmniClear and the Hong Kong Exchange (HKEX) are set to begin a study on... Read more
Hong Kong To Issue First Stablecoin Licenses In March, Expand Crypto Regulation
Hong Kong will issue its first licenses for fiat-referenced stablecoin issuers in March and introduce new legislation l... Read more
MSIG Joins US$6B IFC Credit Insurance Facility To Boost Emerging Market Lending
MSIG USA and Mitsui Sumitomo Insurance (MSI Japan), together referred to as MSIG, have joined a new insurance-ba... Read more
Why The $2 Trillion Stablecoin Prediction Is Too Low
McKinsey estimates the stablecoin market will hit $2 trillion by 2028. But according to Sam Lin, COO of dtcpay, even th... Read more
RedotPay Eyes US IPO With Potential US$1 Billion Raise
RedotPay is reportedly exploring an IPO in the US that could raise more than US$1 billion, according to people famili... Read more



