HKPC “ForeSight 2022” Concludes Successfully Finale Forum Explores Corporate Strategies for Carbon Neutrality with ESG Becoming the Key to Success for SMEs in the Future

(Hong Kong, 19 November 2021) The Hong Kong Productivity Council (HKPC) held the final forum of its signature event of the year “ForeSight 2022” this afternoon. Under the theme of “Going Green: Carbon Neutral Strategies and Measures to Reduce Carbon Emissions”, Mr Wong Kam-sing, Secretary for the Environment of the HKSAR, together with Ms Clara Chan, Deputy Chairman of the Federation of Hong Kong Industries (FHKI); Ms Grace Hui, Head of Green and Sustainable Finance of the Hong Kong Exchanges and Clearing Limited (HKEX); and Dr Lawrence Cheung, Chief Innovation Officer of HKPC, engaged in a lively discussion on the carbon neutrality strategic goals of the Hong Kong’s Climate Action Plan 2050 proposed by the Government and the increasingly important corporate environmental, social and governance (ESG) areas for enterprises, and an in-depth analysis from the Government’s and industries’ perspectives on the emerging trend of “carbon neutrality” to enable companies to achieve sustainability and enhance competitiveness.

Mr Wong Kam-sing, Secretary for the Environment, said, “Hong Kong strives to achieve carbon neutrality before 2050. The Hong Kong’s Climate Action Plan 2050 promulgated by the Government in October this year sets out four major decarbonisation strategies covering net-zero electricity generation, energy saving and green buildings, green transport and waste reduction. Full public participation is needed in combating the challenge of climate change. For example, we have upgraded the ‘4T’ partners as ‘Carbon Neutrality’ partners. About 60 partners from sectors including property development, public utilities, finance and professional bodies participate to deepen and accelerate their pace in pursuing low-carbon transformation. They set examples by devising their targets and timetables to support renewable energy development, energy saving and green buildings, green transport popularisation, waste reduction and more, in order to jointly implement climate action and support Hong Kong to achieve carbon neutrality.”

Dr Lawrence Cheung, Chief Innovation Officer of HKPC, said, “Both large and small enterprises have an obligation to contribute to Hong Kong's progress towards carbon neutrality. The world's attention to ESG is growing day by day. Outstanding ESG performance can help companies meet supply chain requirements and contribute to the environment. ESG is expected to be the key to success for SMEs to break through in the coming year. ‘Smart and Green Living’ is one of the six development priorities of HKPC which provides SMEs with advanced technology and smart manufacturing support. A highly automated and intelligent production process not only can increase production capacity, but also helps reduce carbon emissions and energy consumption, bringing various opportunities and returns to enterprises in the long run.”

Ms Clara Chan, Deputy Chairman of FHKI, said, “FHKI has always encouraged the industrial and commercial sectors to introduce systematic ESG management, which plays a significant role in managing operational risks, maintaining competitiveness and attracting investors and business partners. We believe that through the co-operation and interaction of the Government, large corporations and small and medium enterprises, green transformation can be promoted more effectively among various industries to achieve the global carbon neutrality target.”

Ms Grace Hui, Head of Green and Sustainable Finance of HKEX, said, “The global sustainable finance journey has already begun, and Asia needs to catch up in this evolution. In recent years we have already seen significant growth in investment on green and sustainability-linked products in the region, and we will undoubtedly see more in the future. As a global financial markets leader, HKEX is committed to helping investors, issuers and market participants embark on their low-carbon transition journey. We see ourselves as a change agent providing the framework, guidance, resources and support needed for the long-term development of a robust sustainable finance ecosystem, and establish the city as a global sustainable finance hub. Together, as investors, issuers and market operators, we can realise our sustainability goals and address the most pressing challenge of our generation.”

The two-day “ForeSight 2022” was well received by industry professionals and the public with full houses for all four forums on-site and many more watching the simulcasts online from different parts of the world, including the Greater Bay Area (GBA). The four “ForeSight 2022” forums gathered 17 political, business and innovation and technology heavyweights, joining together to help local SMEs capture major development trends in the year ahead. HKPC is grateful to all the speakers for their wonderful expositions, as well as the strong sponsorship and support of nearly 70 companies, industry chambers of commerce and public organisations, leading SMEs to “dare” to imagine in 2022 and blaze a trail for innovation. Through various services and activities, HKPC will continue to support SMEs with advanced innovations and technologies for enhancing productivity and competitiveness, so as to integrate into the overall development of Mainland China and the GBA and open up new business opportunities, as well as to be a key engine under the new economy.

To recap all four “ForeSight 2022” forums online, please visit the website: https://foresight2022.hkpc.org.

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The theme of the last “ForeSight 2022” forum held today was “Going Green: Carbon Neutral Strategies and Measures to Reduce Carbon Emissions”. The four heavyweight speakers – Mr Wong Kam-sing, Secretary for the Environment of the HKSAR (second from left); Ms Clara Chan, Deputy Chairman of the Federation of Hong Kong Industries (first from right); Ms Grace Hui, Head of Green and Sustainable Finance of the Hong Kong Exchanges and Clearing Limited (first from left); and Dr Lawrence Cheung, Chief Innovation Officer of HKPC (second from right) – shared new knowledge and experience on Hong Kong’s carbon neutrality pledge, corporate carbon reduction and ESG strategies.