During the September 2019 Climate Summit in the US, 87 major corporations, representing a collective value of more than $2.3 trillion and having more than 4.2 million employees, announced their commitment to science-based emissions-reduction targets that align with limiting warming to 1.5°C. At the same Climate Summit, leaders from 77 countries agreed to set the goal of carbon neutrality by 2050. That same month, the Hong Kong government also concluded a public engagement which will feed into Hong Kong’s own long-term decarbonisation plans, setting the territory’s climate action goals for 2050.
It is clear that dealing with climate emergency requires a mix of economic, scientific and social initiatives. CCA believes that if companies can put their weight behind government policies aiming to achieve the goals of the Paris Agreement, which is also binding for Hong Kong, climate risks can be replaced with green business opportunities. This issue outlines our views on the ten most important areas for climate action in Hong Kong based on our earlier submission to the Sustainable Development Council’s public engagement on long-term decarbonisation.