Following is the opening speech by the Secretary for Environment and Ecology, Mr Tse Chin-wan, at the opening session of the Asia-Pacific Economic Cooperation (APEC) Energy Ministerial Meeting held in Busan, Korea, today (August 27):
 
     Good afternoon, Chair and fellow colleagues. Allow me to express my heartfelt gratitude to the Ministry of Trade, Industry, and Energy of the Republic of Korea, for hosting the APEC Energy Minister Meeting and the warm hospitality extended to our delegation.
 
     Sustainability and prosperity are not mutually exclusive, and to do so, we need to collaborate and think outside the box. Hong Kong, China has positioned herself as a super connector. Under the "one country, two-systems" principle, Hong Kong, China remains to be the freest economy of the world, the world's third most competitive international financial centre, and operates under the common law system. We will continue to serve as a platform and hub to connect the world to develop new energy solutions to diversify power resources to support the development of energy-hungry AI and related industries. At the same time, we should not forget innovation to improve energy efficiency to make new technological developments sustainable.
 
     APEC economies consume approximately 60 per cent of the world's energy. APEC's Energy Intensity Reduction Goal is to reduce APEC's aggregate energy intensity by 45 per cent by 2035, against the 2005 level. Thanks to the concerted efforts of the community, as of 2022, the aggregate energy intensity in Hong Kong, China has decreased by over 30 per cent.
 
     While the electricity consumption in the past 20 years has increased by 15 per cent, the emissions of sulphur dioxide, nitrogen oxides and particulates due to power generation have been reduced by 98 per cent, 77 per cent and 86 per cent respectively.
 
     Hong Kong, China reached its carbon peak in 2014. Compared to the peak, our carbon emissions have been reduced by about a quarter now. Our per capita carbon emissions in 2023 were about 4.4 tonnes. On this foundation, Hong Kong commits to strive to further cut our carbon emissions by half before 2035 and achieve carbon neutrality before 2050.
 
     On electricity generation, we will phase out coal for daily electricity generation by 2035, and increase the share of zero carbon energy from a quarter as of today to about 60 to 70 per cent by 2035. We are in good progress towards our target of reducing the electricity consumption in commercial buildings by 15 to 20 per cent, and 10 to 15 per cent for residential buildings by 2035. About 3.7 billion kWh of electricity has been conserved in 2024 compared to 2015.
 
     Hong Kong, China has been embracing artificial intelligence and Internet of Things to improve grid management, including the use of AI management system to monitor critical power facilities and to strengthen the resilience of power supply system.
 
     On green finance, in 2024, the total green and sustainable debt issued in Hong Kong, China exceeded US$84 billion, making Hong Kong, China the top green financing centre in the Asian market for seven consecutive years since 2018. 
 
     Hong Kong, China is also home to green mega events. We will be launching our second Hong Kong Green Week on September 8, followed by the 20th Eco Expo Asia in end-October, where government officials and industry leaders gather to share, collaborate and innovate. Allow me to close my remarks by extending my warmest invitation to you all to participate in the upcoming events in September and October in Hong Kong, China. Thank you.

Ends/Wednesday, August 27, 2025
Issued at HKT 18:42

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