Temperature rising: Hong Kong developers, universities act early on climate change, but most businesses hold back, doing the minimum
- Those acting to reduce greenhouse gas emissions see environmental, social value in doing so
- Without new requirements from government, most businesses do little to decarbonise operations
Humanity’s need to tackle climate change is more pressing than ever, with the United Nations warning last week that global warming would accelerate at a faster-than-expected pace over the next 20 years. In this four-part series, the Post examines its impact on the city, how the Hong Kong government can best play catch-up, and who is walking the talk in the private sector. Part four looks at those in Hong Kong’s private sector and universities already leading the way to decarbonise, while others wait for new government rules. Read part one here, part two here and part three here.
Some major property developers and universities in Hong Kong have taken the lead by acting to cut carbon emissions and develop more sustainably.
But the lack of strong government policies meant that most of the city’s private sector was merely doing the minimum to meet basic requirements that had been set, observers told the Post.
They warned that Hong Kong would lose out if it could not catch up in greening its energy and finance sectors in particular.
Albert Lai Kwong-tak, chief executive of Carbon Care Asia, a social business in carbon strategy and sustainability innovation, said there needed to be a “a subtle balance” between the efforts of the public and private sectors.
