HK's financial resources can drive climate solutions, says leader

Hong Kong’s financial platform is positioned to mobilize capital for driving climate solutions, said Chief Executive John Lee Ka-chiu.

Speaking at an event on Monday, Lee said the city is actively pursuing decarbonization goals through the development of green finance. 

Last year, green and sustainable bonds issued in Hong Kong reached US$43 billion (HK$335.4 billion), marking the city as the top market in Asia for the seventh consecutive year, accounting for 45 percent of the region’s total, Lee said.

He noted that the SAR’s per capita carbon emissions in 2023 were 4.58 tonnes, approximately 60 percent of the EU’s emissions, which he described as commendable. The city is steadily progressing toward its target of halving carbon emissions by 2035 and achieving carbon neutrality in 2050.

Lee highlighted that as of the end of last year, the number of electric vehicles in Hong Kong had surged from 14,000 five years ago to 110,000, about an eight-fold increase, marking the city as one of the fastest-growing regions globally in EV adoption.

STAFF REPORTER