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To foster a sustainable future, Hong Kong is implementing an ambitious plan to bolster green finance talent, innovate in green technology, and transform key industries. The government's initiatives include extending support schemes, creating specialized hubs, and introducing tax exemptions for eco-friendly fuels.

Elevating Hong Kong as a Global Green Finance and Technology Leader

Cultivating Green Finance Talent

The Financial Secretary, Paul Chan, recently announced the extension of the pilot Green and Sustainable Finance Capacity Building Support Scheme until 2028. This initiative underscores the government’s commitment to nurturing local expertise in green finance. Since its inception, the scheme has already approved over 5,700 applications, equipping professionals with the skills needed to drive sustainable financial practices. By investing in human capital, Hong Kong aims to solidify its position as a leading hub for green finance.The extended support will not only enhance the quality of training programs but also ensure that emerging trends in sustainable finance are integrated into the curriculum. This forward-thinking approach prepares Hong Kong’s workforce to meet the evolving demands of the global market. Moreover, it fosters collaboration between academia and industry, ensuring that theoretical knowledge is complemented by practical experience.

Innovating Green Technology Solutions

A significant milestone in Hong Kong’s green transition is the transformation of the InnoCentre in Kowloon Tong into a dedicated GreenTech Hub. This state-of-the-art facility will serve as a nexus for over 200 green technology companies, fostering innovation and collaboration. The Hong Kong Science and Technology Park Corporation (HKSTPC) will play a pivotal role in facilitating partnerships between these companies and various stakeholders, including financial institutions, universities, and business support organizations.These collaborations will enable comprehensive support for green tech ventures, from talent development to real-world testing and application scenarios. The GreenTech Hub will also facilitate business matching, connecting startups with potential investors and clients. This ecosystem promotes rapid prototyping and deployment of cutting-edge solutions, accelerating the adoption of green technologies across sectors.

Decarbonizing Maritime and Aviation Sectors

To further reduce carbon emissions, the government has introduced several measures targeting key industries. One notable policy is the tax exemption for green methanol used in bunkering, aimed at positioning Hong Kong as a premier green maritime fuel bunkering center. This initiative aligns with the Action Plan on Green Maritime Fuel Bunkering, which outlines strategies to promote cleaner fuels in the shipping industry.In addition to maritime efforts, the aviation sector is set to benefit from the promotion of Sustainable Aviation Fuel (SAF) at Hong Kong International Airport (HKIA). SAF offers a viable alternative to traditional jet fuel, significantly reducing greenhouse gas emissions. By actively encouraging its use, Hong Kong can make substantial strides toward achieving its decarbonization goals while maintaining its status as a major international aviation hub.

Building a Sustainable Future Through Policy and Innovation

Hong Kong’s multifaceted approach to sustainability integrates policy reforms with technological advancements. The government’s strategic initiatives create a conducive environment for green finance, innovation, and industry transformation. By leveraging these tools, Hong Kong is well-positioned to lead the charge in the global transition to a greener economy.The ongoing support for green finance talent, coupled with the establishment of innovative hubs like the GreenTech Hub, ensures that Hong Kong remains at the forefront of sustainable development. Furthermore, the introduction of eco-friendly policies in critical sectors such as maritime and aviation underscores the city’s commitment to combating climate change. Together, these efforts pave the way for a prosperous and sustainable future.