Business Environment Council 30th Anniversary Media Luncheon

Urgent Call for Climate Change in Hong Kong

• In October, 2021, the government announced Hong Kong's Climate Action Plan 2050,

setting out the vision of “Zero-carbon emissions and outlining the strategies and targets

for combating climate change and achieving carbon neutrality.

What is Net-zero Economy?

• A net-zero target means a country or company is pledging to reduce carbon emissions as

close to zero as possible, following by using carbon removal or sequestration

technologies to net out the remainder of their emissions

How can Business Sector be Benefited from Net-zero Economy?

• Potentially reducing utility expenses significantly when using energy efficient machineries

• Creating new opportunities for businesses to benefit from incentives, such as subsidies

• Enhancing brand Image alongside building customer loyalty, hence driving revenue.

Hong Kong’s Progress

• 2014: The peak level of carbon emissions in Hong Kong reached 6.2 tonnes per capita.

• 2017: Hong Kong's Climate Action Plan 2030+

• 2020: The level of carbon emissions was 30% less compared to 2014, a big improvement.

• 2021: Hong Kong Government launched Hong Kong’s Climate Action Plan 2050.

Net-Zero Journey: 6 Major Challenges

• Extra cost for implementing decarbonisation measures, including the cost of research and

developments, investments in technologies and so on

• Limited land and space for developing decarbonisation infrastructure

• Many decarbonisation technologies are still at the development stage and are not ready

for wide application in Hong Kong in the near future

• Urgent demand for talent and technicians with the relevant knowledge and skills to meet

the manpower needs of different industries during the green transformation

• The covid-19 pandemic also delayed net-zero advancement

• Achieving carbon neutrality before 2050 requires the participation and support of all

sectors in Hong Kong

BEC’s Role on Net-Zero Transition

• Driving Business Ambition into Action

In BEC, Climate Change, Circular Economy, and Sustainable Living Environment were

identified as the three Environmental Focus Areas. A set of inter-related strategic priorities

has been developed.

• BEC Environmental Focus Areas BEC

Established Advisory Groups under these three environmental focus areas to advise the

Board of Directors, Executive Committee and other BEC members on Hong Kong's major

environmental issues. Advisory Groups also support BEC to develop thought leadership

and influence public policy. With their support, BEC will play our role to drive corporates

to convert pledges into actions, and to accelerate the transition to a net-zero future.

• BEC Low Carbon Charter

Launched Low Carbon Charter in 2019, Hong Kong’s first-of-its-kind pledge specifically

responding to the goals of Paris Agreement, plays the role of active advocator and

motivator in facilitating Hong Kong and the business community to achieve the 2050

carbon neutrality goal.

• Thought Leadership

Collaborates closely with Government, the business sector, tertiary and research

institutions, civil society groups and the wider community on evidence-based research on

public policy and sustainable business practices

30 Years of Environmental Excellence and Beyond

• To celebrate our 30 years of promoting environmental excellence and corporate

sustainability in Hong Kong, we have put together a series of initiatives, with EnviroSeries

Conference which was held successfully on 17 June 2022 as one of the key events. The

next EnviroSeries Conference will be held in November – please stay tuned.

• BEC will continue to drive business ambition and commitment into real action, and to

accelerate business transformation for a net-zero Hong Kong.