Hong Kong aims for net-zero shipping emissions by 2050 with green fuel initiative

Hong Kong has unveiled a plan to promote green fuel bunkering, part of a push to elevate the city’s status as an international maritime centre.

According to the action plan announced on Friday, the port of Hong Kong will reduce the total annual carbon emissions from international shipping by at least 20 per cent by 2030, compared with 2008, and 70 per cent by 2040. It will strive to reach net-zero carbon emissions from international shipping by 2050.

To achieve the goals, Hong Kong will establish an incentive scheme to encourage companies who start green fuel bunkering business, subsidise green transformation of vessels and train talent in the area.

“Hong Kong must accelerate the development of green marine fuel bunkering to respond timely to market demands, thereby enhancing its role as a bunkering port and strengthening its competitiveness as an international shipping centre,” said Lam Sai-hung, the Secretary for Transport and Logistics.

Hong Kong’s Chief Executive John Lee Ka-chiu in his 2023 policy address said that the city would aim to become a global green maritime fuel bunker centre.