Jointly organised by Carbon Care Asia and CarbonCare InnoLab, the “Green Finance x Climate Innovation” Conference and the 2016 CarbonCare^® Label Award Ceremony was held on Dec 14, 2016 to acknowledge 39 companies and organisations which have committed themselves to vigorous carbon reduction endeavours and quality reporting. The Conference, held alongside the ceremony, was addressed by representatives from government departments, the financial sector, the academia, as well as civil and environmental organisations. These eminent speakers shared their views on the future development of green finance or raised innovative technological solutions to help tackle climate change.

Officiating guest The Hon Lam Woon Kwong, referring to statistics from the Hong Kong Observatory, pointed out that Hong Kong is facing real challenges from climate change. Instead of relying on the government, we all can do our part in leading a low carbon lifestyle. In his opening speech, Mr Winfried Engelbrecht-Bresges, CEO of The Hong Kong Jockey Club, gave examples from the Club to show that large institutions could contribute to raising its own energy efficiency and promoting low carbon awareness through working with the NGOs and schools in Hong Kong.

Attended by nearly 200 guests from all sectors, this annual signature event partnered with the Hong Kong Financial Services Development Council (FSDC) focused discussions on three parameters: “the Development Pathways of Green Finance”, “Climate Innovation: Hong Kong Showcases” and “the Future of Green Bonds”. Eminent speakers and panellists included:

Dr David Chung, Under-Secretary for Innovation & Technology

The Hon Kenneth Leung, Legislative Councillor and Senior Consultant, Clifford Chance

Mr Esmond Lee, Senior Advisor, Hong Kong Financial Services Development Council

Mr Sean Kidney, CEO, Climate Bonds Initiative

Ms Hannah Routh, Director, Sustainability and Climate Change Consulting, PwC

Mr Hubert Chak, Director (Finance), Link Real Estate Investment Trust

Mr Ivan Chung, Associate Managing Director, Moody’s Investment

Prof Irene Lo, Hong Kong University of Science & Technology

Prof Michael Leung, City University of Hong Kong

Mr Stephen Wong, Adjunct Lecturer, Chinese University of Hong Kong

Ms Katy Yung, Director of Investment, RS Group

Ms Jessica Robinson, Head of Asia (ex-Japan), Principles for Responsible Investment (UN-PRI)

Ms Sannie Chung, Senior Sustainable Finance Campaigner, Greenpeace East Asia

Ms Marcy Trent Long, Energy Advisor to WWF

Mr Esmond Lee, Senior Advsior at the FSDC, pointed out that the government is working on relevant policy frameworks to create a favourable environment for green financing. He hoped to see more Mainland Chinese enterprises using Hong Kong as their platform for green bonds. Legislative Councillor The Hon Kenneth Leung echoed this and urged the government to review the current fiscal and tax policies to give more incentives in this respect. For Hong Kong to maintain an important role in green financing, Mr Sean Kidney, CEO of Climate Bond Initiatives, called for more visionary policies coming from the government, so that more locally brewed projects such as green buildings and renewable energy projects could obtain the necessary funding.

The session on “the Future of Green Bonds” was moderated by Mr Water Cheung, Senior Partner and CEO, Asia Pacific, at StormHarbour Securities. All panel speakers agreed that Hong Kong, as the largest offshore hub of RMB, has enormous potentials in green financing. They urged the authorities and investors to take full advantage of Hong Kong’s superb financial system to facilitate and promote real actions of green finance, so that more funds could go into climate-focused environmental projects.

Two climate innovative projects were introduced by Prof Irene Lo of HKUST and Prof Michael Leung of the City University of Hong Kong — the use of nano-technology in resource recovery and waste water treatment and heat recycling in air-conditioning systems for better air quality and carbon reductions, respectively. Regarding the funding for research projects, Dr David Chung, Under-Secretary for Innovation and Technology, told the audience that the government would soon launch funds to support mid-stream investments and he hoped that this could help to reduce private investment risk and promote the development of green projects.

The Conference also featured a special presentation by CCA Director Mr John Sayer and Ir Albert Lai, who have just attended the UN Climate Conference in Marrakesh (COP22) held in November. After explaining the outcomes of COP22 and sharing their observations, they urged the Government for more speedy actions so as to put Hong Kong on par with other world cities in carbon reduction measures. On this note, Carbon Care Asia took the opportunity to announce the new “Sustainability Enhancement Programme” in partnership with Tricor Consulting Ltd. This newly launched service aims to help corporate clients increase their climate competence and improve their performance in the environmental, social and governance aspects of their operation.

Full list of 2016 CarbonCare^® Label, CarbonCare^® Action Label & CarbonCare^® ESG Label Awardees

“Green Finance x Climate Innovation” Conference Vidoes – Let’s hear what our guests say!

Conference Programme and Speakers Profile

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Photo captions:

1. Representatives of the 2016 CarbonCare^® Label, CarbonCare^® Action Label and CarbonCare^® ESG Label awardees took a group photo with officiating guest the Hon Lam Woon-Kwong (6^th left, front row), Mr Winfried Engelbrecht-Bresges, CEO of The Hong Kong Jockey Club(8^th left, front row) and the CCA and CCIL management team.
2. Partnership was established between CCA and with Tricor Consulting Ltd to provide a new “Sustainability Enhancement Programme” to clients. Tricor Consulting was represented by Mr Roy Fung, Managing Director (right).
3. In his welcoming remarks, CCA Chairman Mr Chong Chan Yau extended thanks to our venue sponsor The Hong Kong Jockey Club, our conference partner the Hong Kong Financial Services Development Council, and the many supporting organisations and media partner.
4. In his opening speech, Mr Winfried Engelbrecht-Bresges told the audience about the HKJC’s efforts in raising energy efficiency and reducing carbon emissions, as well as the Club’s cooperation with NGOs and schools in promoting green education in the community.
5. In his keynote speech, our officiating guest the Hon Lam Woon-Kwong pointed that it is everyone’s responsibility to switch to a low-carbon lifestyle.
6. Dr David Chung, Under-Secretary for Innovation and Technology, told the audience that the government would soon launch funds to support the development of green projects.
7. Ir Albert Lai, who has attended the UN Climate Conference in Marrakesh (COP22), gave a presentation on the outcomes of the Conference and its implications to Hong Kong.
8. CCA Director Mr John Sayer moderated for the session “The Development Pathways of Green Finance”.
9. Mr John Sayer presented the one-tonne carbon credit certificate to the speakers as souvenir: (from 2^nd left) Mr Sean Kidney from Climate Bonds Initiative, Ms Sannie Chung from Green Peace East Asia, Ms Hannah Routh from PwC and Mr Stephen Wong from Chinese University.
10. CCA CEO Ir Albert Lai moderated for the session “Climate Innovation: Hong Kong Showcases”.
11. Ir Albert Lai presented the one-tonne carbon credit certificate to the speakers and panelist as souvenir: (from 2^nd left) Dr David Chung from the Innovation and Technology Bureau, Ms Marcy Trent Long from WWF, Prof Irene Lo from HKUST and Prof Michael Leung from City University.
12. The Hon Kenneth Leung urged the government to start looking into its fiscal and tax policies in order to give greater incentive to green investments.
13. Mr Water Cheung from StormHarbour Securities moderated for the session “the Future of Green Bonds”
14. Mr Water Cheung presented the one-tonne carbon credit certificate to the speakers and panelist as souvenir: (from left) Mr Esmond Lee from FSDC, Mr Hubert Chak from Link Reit, Ms Katy Yung from RS Group, Ms Jessica Robinson from UN-PRI and Mr Ivan Chung from Moody’s Investment.
15. 15, 16. Comments and questions from the floor during Q & A session.