Hong Kong can achieve net zero emissions by 2050 if all parties act now

HONG KONG, CHINA -
Media
OutReach - 29 June 2020 -

If we act now, Hong Kong can reduce greenhouse gas
emissions by 90% by decarbonizing the power sector, improving building efficiency, and enhancing mobility, according to a comprehensive
roadmap released today by Civic Exchange, an independent public policy think
tank, and World Resources Institute (WRI), a global research organization.

Photograph credit: Sébastien Goldberg

The report highlights the urgency as well as the opportunities
for Hong Kong to strengthen policy action. The recommendations can not only
guide Hong Kong to significant emissions reductions by 2050, they also offer Hong
Kong a glimpse of a carbon-neutral future that is greener and more-liveable,
with minimal pollution, readily available public transport, healthy low-carbon
lifestyles and more. To achieve this, the city must step up as a leader in
combating the global climate emergency.

"Unlike other cities, Hong Kong doesn't have a
manufacturing economy so is relatively easier to decarbonize," said Lawrence
Iu, a co-author of the report launched Towards a Better Hong Kong: The Pathway
to Net Zero Carbon Emissions by 2050.

In 2018, the Intergovernmental Panel on Climate Change
(IPCC) urged the international community to achieve carbon neutrality by 2050
to avoid irreversible consequences of climate change. WRI and Civic Exchange's
report states that Hong Kong is likely to achieve our 2030 climate target of
reducing absolute carbon emissions by 26-36% compared with 2005. Hong Kong has yet
to set targets to achieving carbon neutrality by 2050.

"Over the past decades, Hong Kong has made significant progress in
promoting low-carbon development.  Since
2005, Hong Kong's GDP grew by about 50%
but greenhouse
gas emissions reduced by 1.2%. This indicates
that Hong Kong's economic growth has already decoupled from greenhouse gas
emissions." said Wee Kean Fong, Deputy Director of WRI China. "However, to achieve global net zero emission by 2050,
all cities around the world, including Hong Kong, will need to step up climate
action urgently."

The report evaluates key policies for the economy and
provides policy recommendations for strengthening Hong Kong's transition to a
net zero emission society. Among these, power generation, building energy
efficiency, and transportation are the sectors with the greatest potential for
emission reductions, amounting to a total of 32 million tonnes of carbon
dioxide between now and 2050 should the report's policy recommendations be
fully adopted.

"By embracing
the net zero emissions pathway, we can look forward to a cleaner, greener and
healthier Hong Kong," said Lisa Genasci, CEO of the ADM Capital Foundation. "and
reap significant economic and social benefits, in particular, life quality
improvement and job creations." Overall, 26,000 lives could be saved from
cleaner air alone and there would be HK$ 460 billion in monetized benefits by
2050.

This report is the first in a series of projects by
Hong Kong 2050 is Now
, a joint initiative commissioned by Civic Exchange and
WRI with a mission of transforming Hong Kong into a carbon neutral city. The current report was
jointly funded by RS Group, ADM Capital
Foundation, WYNG Foundation and HSBC. HK2050 is Now is currently embarking on
Phase Two--conducting deep dives into sector-specific areas, including energy
supply, building energy efficiency, transportation, carbon pricing, and
lifestyle to provide analysis and more detailed solutions for Hong Kong.

In addition to reducing greenhouse gas emissions from its own territory, Hong Kong must consider the implications of the global move to net zero.  In particular, (a) Greenhouse gas emissions from producing the food, manufactured goods and building materials it imports; and, (b) the impact on its economy of reducing shipping and aviation emissions. For this Hong Kong needs better information. For example, to obtain a better understanding of the emissions required to construct buildings, the report recommends making it a pre-requisite for GFA concessions that a Life Cycle Analysis is provided for a new building before an occupation permit is issued.

Learn more by visiting the Hong Kong 2050 is
Now website

http://hk2050isnow.org

About Hong Kong 2050 is Now

Hong Kong 2050 is Now is a joint initiative of
Civic Exchange, World Resources Institute, RS Group and ADM Capital Foundation,
WYNG Foundation and HSBC to galvanise collective action towards a climate
neutral Hong Kong by 2050. We aim to engage partners across relevant sectors to
shed light on Hong Kong's pathway to climate neutrality. This includes
research, policy and other recommendations in key sectors, including energy,
mobility, building efficiency, nature-based solutions, lifestyle considerations
and carbon pricing.

About
Civic Exchange

Civic
Exchange is an independent public policy think tank with a vision to shape a
liveable and sustainable Hong Kong. Our mission is to engage society and
influence public policy through research, dialogue and the development of
practical solutions. Civic Exchange has been ranked among the top 50
environment policy think tanks in the world by the University of Pennsylvania
since 2011.

About World
Resources Institute

World Resources Institute (WRI) is a global
research organization that spans more than 50 countries, with offices in
Brazil, China, Europe, Ethiopia, India, Indonesia, Mexico, and the United
States. Our more than 1,000 experts and staff turn big ideas into action at the
nexus of environment, economic opportunity and human well-being. We work on
seven urgent challenges: climate, energy, food, forests, water, cities and
ocean. We deliver on these challenges in part through our expertise in
business, economics, finance and governance.