Li Jiachao: Hong Kong plays an important role in green capital innovation and governance

The Zhitong Finance App learned that the Chief Executive of the Hong Kong Special Administrative Region, Li Jiachao, said during a video message at the forum that Hong Kong can play an important role in building a bridge between green capital innovation and governance, and will strive to turn dialogue into actual results. He pointed out that the acceleration of climate change and the decline in biodiversity have brought challenges, meaning that the gap between green capital, innovation and governance must be bridged, and Hong Kong can make many contributions in related fields.

Li Jiachao said, first, that Hong Kong is a hub for international green and sustainable bond issuance in Asia, accounting for 40% of the region's total. It has issued government green bonds with a total value of about 33 billion US dollars, covering 116 green projects. Second, Hong Kong has excellent conditions to test and develop new green technologies to play a role as a bridge between mainland China and the rest of the world's green standards. Hong Kong's green hydrogen standard certification scheme, which links mainland and international law, is a compelling example. Third, Hong Kong is proving through practical actions that government leadership can enhance a city's ability to respond to climate change.

Li Jiachao said that in order to strengthen its ability to respond to climate change, the SAR government is setting up an interdepartmental group to establish an “AI urban brain” system to provide risk warning and trend predictions, and improve cross-departmental collaboration on extreme weather, major events, and public order. He believes Hong Kong can mobilize capital, use technology and talents to promote sustainable development in Asia and the world.

He also said that the HKSAR Government announced Hong Kong's first five-year plan last month, which includes targets related to carbon reduction and environmental protection, including achieving a sustainable aviation fuel usage rate of 1% to 3% by 2030, increasing the proportion of zero-carbon energy in the fuel mix from 25% to 30%, and achieving “zero waste landfill.”