Symposium highlights HK’s role in achieving China’s dual carbon goal

The Chief Executive's Policy Unit and the Policy Research Center for Environment and Economy of the Chinese Ministry of Ecology and Environment have held a symposium in Beijing on international carbon markets, focusing on the significance of China's participation and the pivotal role Hong Kong could play in helping the country meet its “dual carbon” goals.

The symposium brought together prominent stakeholders from across the carbon market sector. Attendees included representatives from the National Center for Climate Change Strategy, the China Beijing Green Exchange, the BRI Green Development Institute, and Tsinghua University’s Institute of Energy, Environment and Economy.

The establishment of carbon markets is seen as vital in combating climate change, providing incentives for emissions reduction and encouraging investment in low-carbon projects.

At the meeting, participants highlighted Hong Kong’s unique position—having the “backing by the motherland and connecting with the world”—as an international financial center capable of helping China build a carbon market that meets global standards.

They noted that, although carbon trading is not solely a financial product, Hong Kong’s mature financial infrastructure could drive the market’s growth and integration.

Discussion also focused on how Hong Kong’s participation should align with national climate objectives. Suggestions included leveraging its common law system, comprehensive financial services, and talent to develop international carbon-related rules, establish professional service clusters, and cultivate a skilled workforce pool.

Participants further stated that Hong Kong not only serves as a gateway for Chinese enterprises to access international markets and as a green finance hub, but also as a frontline in advancing China’s ecological goals. These roles, they said, are key to transforming the Greater Bay Area into a world-class center for green innovation.

Stephen Wong Yuen-shan, head of the Chief Executive’s Policy Unit, urged Hong Kong to seize the opportunities presented by the carbon market. He stressed the importance of harnessing the city’s international financial platform to help Chinese enterprises reduce emissions efficiently and cost-effectively, thereby supporting the achievement of the nation’s dual-carbon targets.