June 18, 2024

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Hong Kong’s inexperienced finance moves are a step in the appropriate course



Workers hold trays of recycled material photographed during the opening ceremony of Novetex’s recycling spinning mill in Tai Po in September 2019. The “upcycling” mill, which spins recycled fibre from textile waste, is an example of business opportunities that promote the health of the planet. Photo: David Wong


© SCMP
Workers keep trays of recycled product photographed throughout the opening ceremony of Novetex’s recycling spinning mill in Tai Po in September 2019. The “upcycling” mill, which spins recycled fibre from textile squander, is an case in point of business enterprise chances that advertise the wellbeing of the earth. Photograph: David Wong

The Covid-19 pandemic highlights the will need for methods leadership to embrace the social and human dimensions of solving elaborate concerns these kinds of as inequality and developing cohesive societies. With regard to Christine Loh’s impression column titled “As Asia embraces a zero-carbon foreseeable future, Hong Kong must make a niche as a green finance hub” (December 28), it was in truth good to begin the New Year with inexperienced financing mounting to strategic great importance for the metropolis.

The around the globe coronavirus pandemic has brought about substantive sources and initiatives to be channelled into tackling the well being crisis and consequent economic downturn. Nevertheless, the globe also needs to channel the ensuing partnerships and resources into combating persistent world climate and sustainability problems.

The Hong Kong inventory trade is on the correct observe to align the pursuits of investors and issuers in making accountable companies through sustainable inexperienced techniques and improved transparency on environmental, social and governance (ESG) disclosures. No far more “greenwash” advertising!

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In a round financial system, shoppers – as influential ecosystem actors – should to put up a united entrance to spur desire for green guidelines, interventions and sustainable procedures that treatment for and safeguard the surroundings, help green consumerism and lifestyles, reduce our carbon footprint and squander at source, and actively contribute to a carbon-neutral potential.

Design and style-led ventures that embrace the “decrease, reuse, recycle” mantra really should be encouraged to generate eco-friendly consciousness from a youthful age. The immediate advancements in science, engineering and technologies assure that there are sufficient small business and expenditure options wherever “structure wondering” and a people-centred strategy can direct to far more meaningful improvements.

Crafting a environmentally friendly united potential phone calls for worldwide, regional and general public-non-public partnerships. Now that there is world wide leadership, and dedication from leaders in the European Union, China, Japan, South Korea, as effectively as the following US administration, permit us hope these aligned attempts will help to build a shiny, green and inclusive potential for the sustained growth of all.

Dr Edmund Lee, govt director, Hong Kong Style and design Centre

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This posting originally appeared on the South China Early morning Write-up (www.scmp.com), the foremost news media reporting on China and Asia.

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