HK to phase in zero-carbon power as transmission system nears completion by this year: Financial chief

Hong Kong's latest power transmission system is expected to be completed within the year, allowing the city to gradually introduce more zero-carbon electricity,  according to Financial Secretary Paul Chan Mo-po.

In his weekly blog post ahead of National Security Education Day this Wednesday, Chan described national security and development as mutually reinforcing, where security enables development, and development serves as the solid guarantee of security.

From financial markets to energy supplies, the financial chief warned that risks and challenges exist in every sector amid shifting geopolitics — and Hong Kong must place security at the core of its development to strengthen risk prevention and emergency response.

Highlighting the importance of energy supply for social livelihood and economic development, Chan reported that about 80 percent of Hong Kong's petroleum products come from the mainland — a supply that has remained stable under the nation's strong support.

However, in response to soaring oil prices following the Middle East crisis in February, Chan said an inter-departmental task force has been established to monitor fuel market dynamics.

He noted that four short-term measures have been proposed, including diesel subsidies for industries and public services significantly impacted by the price hike.

Chan added that the relevant funding has been approved by the Legislative Council, and implementation details have been expedited since.

Looking ahead, Chan reaffirmed the government's commitment to its "net-zero generation" target under the Hong Kong Climate Action Plan 2050, including strengthening regional cooperation and expanding the share of zero-carbon energy.

In addition to the 2035 target of 60-70 percent zero-carbon power, he revealed that the latest upgrade for the transmission system is due for completion this year,  allowing Hong Kong to gradually introduce more zero-carbon electricity.