Opening speech by SEE at COP31 China Pavilion side event (English only) (with photos)
*************************************************************************************
Good evening, everybody. On behalf of the Government of the Hong Kong Special Administrative Region, I would like to extend my warmest welcome to all of you.
I am particularly grateful to the Ministry of Ecology and Environment of China, for giving us the opportunity to host a side event at the China Pavilion.
My dear friends, to cope with the challenges brought by climate change, we must prepare ourselves, plan ahead, set targets and take action now.
For the first time, the Hong Kong Government is formulating a five-year plan. This Plan is our comprehensive roadmap for the future. It firmly establishes a forward-looking strategy.
The plan has introduced binding targets. They set the bar for promoting green transformation, energy reform, as well as making Hong Kong a cleaner and more enjoyable city.
Our efforts towards deep decarbonisation are already delivering results. Hong Kong's total carbon emissions peaked in 2014. Compared to the peak, in 2024, the total emissions had been reduced by 27 per cent. Yesterday, I have just got the statistics for 2025, it was further reduced to 32 per cent.
The per capita emissions have reduced by 35 per cent to about 4.1 tonnes, which is about 22 per cent of the carbon footprint of the United States and Australia, and 33 per cent lower than that of the European Union.
Therefore, our next targets are to halve the carbon emissions before 2035 and achieve carbon neutrality by 2050.
By 2035, we will stop the use of coal for power generation, increase the share of zero-carbon electricity to over 60 per cent, stop the registration of new fossil fuelled private cars as well as stop the use of landfilling for disposal of municipal waste. So, 2035 will be a very important year to Hong Kong.
Today, we are planning new infrastructure to take up more zero carbon electricity. On electrifying our transport, out of 10 new private cars, over seven are electric.
On waste reduction, we have managed to reduce the quantities of waste disposal for four consecutive years and recycling rate is going up. Waste to energy facilities are also coming into stream.
On adaptation and resilience, a dedicated Climate Change Working Group on Infrastructure is co-ordinating all public works to adapt our urban landscape, and conduct strategic planning studies needed to execute medium- and long-term, coastal defenses against rising sea levels and unprecedented rainfall.
The Hong Kong Observatory has enhanced the accuracy and lead time of severe weather warnings, giving our emergency services and citizens the critical time needed to prepare and respond.
Ladies and gentlemen, we all know that no economy or country can tackle climate change and the green transformation challenge alone. Progress requires clear policies, innovative technologies, financing and, above all, international cooperation.
Hong Kong is in a unique position to play an active role in this collective effort. First, is our system. Under "one country, two systems", we enjoy close connections with both the Chinese Mainland and international markets. Our professional services, financial system, common law system and environmental management experience, position us well as a "super connector" for international collaboration in the green transformation.
Second, achieving carbon neutrality and building climate resilience demand financial resources and Hong Kong is a major financial centre.
In 2025, the total green and sustainable debt issued in Hong Kong surpassed USD 76 billion. Among which, the volume of green and sustainable bonds arranged in Hong Kong amounted to around USD 38 billion and ranking first in the Asian market for the eighth consecutive years since 2018.
Hong Kong Exchanges and Clearing Limited has launched the Core Climate in 2022. As an international carbon trading platform, Core Climate connects capital with climate solutions across the region and facilitate carbon credit trading in both Hong Kong Dollar and Renminbi.
Alongside financing, we are supporting the commercialisation of green technologies. To take up Hong Kong's role as a "super connector", we are launching the Green Technology Bridgehead Programme in 2027, to help green technology and environmental companies use Hong Kong as a springboard into international markets.
My dear friends, Hong Kong is prepared to work with all parties to meet with the climate challenge.
We are here to bridge the gap between ideas and impact: from science to finance; from carbon markets to climate action; and from promises to results. Let us, all of us here, work together to turn our strengths and knowledge into decisive climate action.
Thank you.
Ends/Wednesday, November 11, 2026
Issued at HKT 10:00
Issued at HKT 10:00
NNNN
Photo
