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Speech by SEN at launch ceremony for Carbon Footprint Repository for Listed Companies in Hong Kong (English only)

     Following is the speech by the Secretary for the Environment, Mr Wong Kam-sing, at the launch ceremony for Carbon Footprint Repository for Listed Companies in Hong Kong today (December 15):

David (Mr David Graham, Chief Regulatory Officer & Head of Listing, HKEx), Ellie (Ms Ellie Pang, Vice President (Listing), HKEx), Stephanie (Ms Stephanie Campbell, Director, Hong Kong and South East Asia, CDP), Alex (Mr Alexander Clode, Global ESG Business Manager, Bloomberg LP), ladies and gentlemen,

     Good afternoon. Welcome to the launch of the Carbon Footprint Repository for Hong Kong listed companies.

     I am really pleased to see the large number of listed companies from different sectors joining this carbon disclosure initiative today. You are among the first movers committed to joining the global efforts to combat climate change through conducting carbon audit and sharing your successful experience with other listed companies and the general public in Hong Kong.

     Climate change poses a global challenge for everyone. Being part of the international community, Hong Kong needs to contribute to the solution, and there is generally greater expectation on the Government, as well as the large corporations, such as listed companies shared by you.

     So you may already be aware that the Government's target is to reduce the city's carbon intensity by 50 to 60 per cent by 2020, using 2005 as the base year. This equates to an absolute reduction of one-fifth to one-third of Hong Kong's carbon emissions, which is significant.

     The Carbon Footprint Repository is part of our efforts to combat climate change. To achieve our target, we need the private sector to join hands with the Government. I hope more and more listed companies will contribute to improving their carbon management.

     I want to say thank you to the stock exchange especially for its efforts in promoting Environmental, Social and Governance (ESG) Reporting since 2012. I hope the Carbon Footprint Repository can also help the exchange's coming consultation on its ESG Reporting Guide planned for next year, and we are looking forward to the result.

     I understand that another driver for adopting ESG practices and reporting is the growth of responsible investment, as more investors have started to incorporate ESG criteria into their valuations and investment strategies. I believe you will get an in-depth understanding on these aspects from the presentations to be delivered by the speakers in the later part of today's ceremony.

     I thank you again for coming today and more importantly, for joining the global efforts in combating climate change. I trust all of you will continue to contribute and join hands with the Government to close the gap between awareness and action to build a low-carbon economy and a greener Hong Kong.  

     Thank you.

Ends/Monday, December 15, 2014
Issued at HKT 18:43


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