Business Environment Council Media Luncheon 2023

Five Challenges in Achieving Net-zero in Hong Kong

• Low renewable energy mix in Hong Kong.

• Buildings generate over 60% of the city’s carbon emissions. Retrofitting older buildings and supporting new builds that use clean energy is necessary.

• Environmental awareness to be improved and limited incentives for business to transform, in particular SMEs.

• Sustainable business models require significant investments in new technologies and infrastructure, which is challenging to SMEs.

• Scarcity of qualified personnel with specialised expertise, limited exposure to business models, and inadequate data management capabilities.

How Private Sectors Could Prepare for Future of Net-zero Transition

• Incorporate sustainability into their business strategies and operations.

• Implement energy-efficient technologies and practices such as real-time monitoring and analysis.

• Adopt digital tools and platforms to reduce carbon footprint.

• Collaborate with stakeholders to share knowledge and innovative solutions to increase transparency and accountability in supply chains.

How BEC Accelerates Net-zero Action

• Influencing Public Policy

BEC actively engages with the government and amplifies the voice of Hong Kong’s business sector through Advisory Groups and Environmental Focus Areas, Research and Thought Leadership, Policy Advocacy and BEC Events and Activities.

• Driving Business Action

BEC facilitates opportunities for the business community to learn, share and lead responsible business practices. Through our many activities, “BEC Net-zero Carbon Charter”, “Power Up Coalition”, “Hong Kong Awards for Environmental Excellence”, “Carbon Disclosure Programme” and “HSBC Living Business Awards”, we help prepare Hong Kong companies to address business risks and embrace opportunities that arise from environmental challenges.

• BEC As a “Green Lab”

BEC has positioned the BEC Building as a “green lab”, a space where environmental excellence is encouraged and celebrated. As the physical representation of BEC, the building has always been a showcase of green building practices. In 2022, BEC Building achieved the top Final Platinum rating under BEAM Plus Existing Buildings Version 2.0 Comprehensive Scheme.

• ESG Strategy

BEC experts help the business community connect the dots between sustainability and business objectives to manage risks, embrace opportunities, enhance growth, build trust and create value. The ESG Strategy team collaborates with clients to convert sustainability into a strategic advantage.

• BEC Institute of Environmental Education (BEC IEE)

BEC IEE facilitates professional development by promoting quality environmental education through various environmental education programmes including Climate Change & Carbon Management, Circular Economy & Resource Management, Green & healthy Buildings and Corporate Sustainability.

BEC Sustainability Report 2022

• BEC Sustainability Report 2022 illustrates how BEC practises and enables sustainability with respect to our sustainability performance and approaches during the fiscal year from 1 October 2021 to 30 September 2022.

• BEC actively works with over 230 member organisations, stakeholders and the wider community to enable our city to achieve environmental excellence while transitioning to a net-zero economy.

• In this period, BEC delivered 129 environmental projects, 22 events and seminars, and 4 policy submissions presenting the voice of business in relation to important environmental topics.

• The report also demonstrates how we enable sustainability and contribute to Hong Kong's net-zero transition through thought leadership, innovative solutions, policy advocacy, strategic partnership, advisory services, and environmental education.