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Professor Lung, Professor Tsui, distinguished guests, ladies and gentlemen,
I am indeed delighted to join you in celebrating the "green" achievements of our enterprises.
First of all, congratulations to all the awardees of this year's Hong Kong Awards for Environmental Excellence.
You have contributed to making Hong Kong a more pleasant and sustainable city by seizing green business opportunities. This goal is encapsulated in the award scheme's slogan: "In Green, We Succeed".
Green ideas and business have not always gone hand-in-hand. Environmental initiatives, often imposed through legislation and regulation, cut into the bottom line of businesses. They were regarded as unnecessary expenses rather than valuable assets. But those are bygone days.
Now we all appreciate that "going green" makes excellent business sense.
By combining green strategies with business models, companies can save energy, recycle products and help to protect the environment.
This in turn cuts costs, promotes a positive image and encourages customer loyalty.
Surveys frequently indicate that customers are becoming increasingly concerned about the environmental impact of the products they buy. They are changing their buying habits in favour of goods and services from companies with a strong environmental commitment.
A positive environmental image also helps firms retain staff and attract new talent. These are some of the ways that a commitment to the environment can give firms a competitive edge.
At the same time, our nation China is winning the clean energy race, according to a recent global study published by the US Pew Environment Group.
The study shows that China invested more than US$54 billion in low-carbon energy technology last year. Germany was second in the table with the US in third place.
This highlights China's commitment to promoting sustainable economic growth. It also represents huge business opportunities for Hong Kong companies in this green revolution.
Here in Hong Kong, the environmental industry is one of six industries we have identified as having a clear competitive advantage. We have the experience, the talent and the determination to nurture green industry. This includes promoting green innovation and technology in collaboration with our friends on the Mainland.
The Hong Kong Government has also set a target to reduce carbon intensity by between 50% and 60% by 2020, using 2005 as the base level.
To achieve this goal, we will introduce a range of measures under the Climate Change Action Agenda. These include rigorous policy and regulatory measures that cover energy efficiency, building design, materials and energy management systems.
We will also focus on city greening and cleaner transport to accelerate our transition to a low-carbon economy. I encourage transport companies to apply to the Green Transport Fund. The Fund started inviting applications last month. Its objective is to encourage the industry to test out green and innovative technologies that will improve the quality of our air.
All the initiatives I have mentioned will enhance Hong Kong's reputation as a great place to live and work.
Ladies and gentlemen, these awards are an opportunity for businesses to benchmark their environmental performance. They also encourage more enterprises to "go green".
Since the launch of these awards in 2008 the number of the participants has increased significantly. This year, there were over 480 entries for the sectoral awards - up from about 360 in 2008. The number of small and medium enterprises taking part has more than doubled to 28 this year.
We are all encouraged by this growing recognition of these prestigious awards.
I thank the Environmental Campaign Committee for organising this presentation ceremony and congratulate everyone involved in this year's Awards for Environmental Excellence.
Have a great evening.
Ends/Friday, April 8, 2011
Issued at HKT 17:18
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