It is estimated the Hong Kong environmental protection industry represented a market size of HKD 7.9 billion (CAD $1.29 billion) in 2015, consisting of some 300 establishments, which are largely small and medium-sized enterprises. The market boils down to six business areas, namely
- water conservation and pollution control
- air and odour pollution control
- energy conservation
- waste treatment, disposal and recycling
- noise control and mitigation
- environmental consulting services
The Hong Kong SAR Government has in recent years launched a series of environmental blueprints to further enhance air quality and improve waste management measures. It also encourages members of the public to save energy, utilise renewable energy, conserve biodiversity and tackle climate change.
Hong Kong’s Climate Action Plan 2030+
The Paris Agreement came into force on 4 November 2016, succeeding the Kyoto Protocol. As decided by the Central People’s Government of China, the Paris Agreement applies to the Hong Kong Special Administrative Region. The Paris Agreement calls upon the Parties to cooperate with the private sector, civil society, financial institutions, cities and regions in order to mobilise stronger and more ambitious climate actions in the world.
Hong Kong has set an ambitious carbon intensity target of 65% to 70% by 2030 using 2005 as the base, which is equivalent to 26% to 36% absolute reduction and a reduction to 3.3-3.8 tonnes on a per capita basis. It is also anticipated that carbon emission will peak before 2020.
Hong Kong is a Steering Committee member of the C40 Cities Climate Leadership Group. This coalition of cities around the world has pledged to work hand-in-hand towards enhancing energy efficiency and reducing carbon emissions, with a view to combating climate change.
Climate Change Initiatives in Hong Kong include: Using Cleaner Fuel and Renewable Energy, Reducing Carbon Footprint, and Promoting Energy Efficiency and Carbon Audits in Buildings. Measures will be introduced to reduce coal-fired electricity generation, use renewable energy on a wider and larger scale, and make the city’s infrastructure and buildings more energy-efficient.
The Hong Kong SAR Government will also improve public transport and promote healthy commuting by walking, encouraging people to be more active and rely less on motorised transport. A HKD300 million (CAD49 million) Pilot Green Transport Fund was set up in March 2011 to encourage the public transport sector and goods vehicle owners to test out green innovative transport technologies. Use of electric vehicles will also be actively promoted.
The green bond issuance plan promotes the development of green finance in Hong Kong. Moreover, the government will enhance tax concessions for capital expenditure incurred by enterprises in procuring eligible energy-efficient building installations and renewable energy devices by allowing tax deductions to be claimed in full in one year, instead of the current time frame of five years.
Launched in December 2014, the Hong Kong SAR Government has started to work with the Hong Kong Exchanges and Clearing Limited to introduce and promote the website on carbon footprint repository for listed companies in Hong Kong. As of May 2017, there are 70 listed companies participated in this carbon disclosure initiative by disclosing their carbon management information through the website.
Waste Management and Recycling
Among the city’s new initiatives on waste management and recycling are T∙PARK, WEEE∙PARK, and O∙PARK.
T∙PARK is a sludge treatment facility, which is equipped with facilities to turn thermal energy generated from incineration into electricity. Apart from meeting the electricity demand of the treatment facility, the surplus electricity can be uploaded to the power grid. Being one of the most technologically advanced facilities of its kind in the world, T∙PARK combines a variety of advanced technologies into a single complex and bring together sludge incinerators with power generation and desalination. To enhance public awareness of sustainable development, a wide range of educational and leisure facilities showcasing the benefits of a waste-to-energy approach in waste management are included.
WEEE∙PARK is a waste electrical and electronic equipment (WEEE) treatment and recycling facility. It is a flagship government-funded waste-to-resources facility. Operated by a consortium formed by Germany's ALBA Group and the Integrated Waste Solutions Group, the recycling facility is turning WEEE into useful secondary raw materials through a series of detoxification, dismantling and recycling processes, using advanced technologies and equipment.
O∙PARK, is a large-scale waste-to-energy facility with the major target for treating food waste generated from the industrial and commercial sectors, including manufacturers, restaurants, hotels and supermarkets. It is Hong Kong’s first organic resources recovery centre.
Opportunities for Alberta companies
- Renewable Energy and Usage
- Energy Audit, Energy Efficiency
- Green Buildings, Energy Audit
- Waste Management and Recycling
- Water Treatment and Quality Management
- Green Transportation
- Innovative Solutions for Greener Cities
- Sustainable Development and related solutions
- Smart Sponge City