The first large-scale climate adaptation event in Hong Kong – Climate Adaptation and Resilience Conference (CARE2022), organized by the Hong Kong University of Science and Technology (HKUST), was successfully concluded today with the hosting of the Policy & Green Finance Forum.
With the support of HKSAR government bureaux and departments, CARE2022, the three-day conference which started on 10 December, is multi-and-interdisciplinary in nature so that a wide range of related knowledge and views could be incorporated, enabling a rich discussion across public and private sector stakeholders on climate issues.
On the conference’s third and final day (12 December), the Policy & Green Finance Forum featured a high-level deliberation on policy, risks, resilience, talent, and the financing aspects of climate change. Government officials and regulators, together with private sector leaders in banking, investment, energy, shipping, property, climate data, and technology deliberated together with the purpose of strengthening Hong Kong capabilities in climate management and finance.
Mr. Christopher Hui, Secretary for Financial Services and the Treasury, opening the event on 12 December, said, "Hong Kong, as an international financial centre connecting global capital with opportunities, has our unique and indispensable role to play in addressing one of the biggest challenges facing mankind brought about by climate change." Mr. Hui elaborated the Government’s efforts in issuing green bonds, nurturing talent, launching the Green and Sustainable Finance Grant Scheme, as well as developing Hong Kong into a global, high-quality voluntary carbon market. He also noted that only close partnerships among relevant stakeholders could develop Hong Kong into a green and sustainable hub in the region.
The banking sector is a major contributor to the city’s vibrant green finance ecosystem. Speaking at the forum, Mr. Eddie Yue, Chief Executive of the Hong Kong Monetary Authority (HKMA), addressed the topic “Collaboration of Green Finance Policy and Ecosystem Enhancement.”
Prof. Tam Kar-yan, Dean of the HKUST Business School, said, “HKUST has been steadfast in promoting Hong Kong’s development into an international green finance hub by advancing knowledge creation through a large-scale Research Grants Council-funded green finance research project and by grooming talent with the first and only green finance bachelor’s degree program in Hong Kong. We are thankful for the broad stakeholder support for this forum, enabling participants to explore Hong Kong’s brown-to-green transition from diverse perspectives.”
Prof. Christine Loh, Chief Development Strategist of the HKUST Institute for the Environment, also Co-chair of CARE2022 organizing committee, noted at the end of the forum that: “The only way to meet the enormous climate challenge is collaboration. We are pleased to have brought together a broad church of stakeholders. At HKUST, we will continue to contribute to finding solutions”.
CARE2022 kicked off with the Science & Policy Day last Friday (10 December), which offered a comprehensive presentation of Hong Kong’s adaptation plans and projects by the Government, followed by in-depth discussions at two workshops. The discussion was extended on Day 2 by academic scholars in greater detail, and concluded with the Policy & Green Finance Forum on Day 3.
Climate Adaptation and Resilience Conference (CARE) is the first large scale climate adaptation event in Hong Kong co-organised by seven HKUST units. CARE aims to facilitate policy-relevant discussions among government, financial regulators, business and professional stakeholders, NGOs and academia to strengthening the city’s resilience to climate crises. Organisers include the Institute for the Environment, Division of Environment and Sustainability, Business School, Centre for Slope Safety, Department of Civil and Environmental Engineering, Division of Public Policy and Green Finance Research Project. The organising committee of CARE is supported by a Technical Committee which comprises HKUST scholars and specialists from various governmental departments dealing with climate change.
About The Hong Kong University of Science and Technology
The Hong Kong University of Science and Technology (HKUST) (https://hkust.edu.hk/) is a world-class research intensive university that focuses on science, technology and business as well as humanities and social science. HKUST offers an international campus, and a holistic and interdisciplinary pedagogy to nurture well-rounded graduates with global vision, a strong entrepreneurial spirit and innovative thinking. Over 80% of our research work were rated “Internationally excellent” or “world leading” in the Research Assessment Exercise 2020 of Hong Kong’s University Grants Committee. We were ranked 3rd in Times Higher Education’s Young University Rankings 2022, and our graduates were ranked 30th worldwide and among the best from universities from Asia in Global Employability University Ranking and Survey 2022. As of 2022, HKUST members have founded 1,645 active start-ups, including 9 Unicorns and 7 IPO companies, generating economic impact worth over HK$400billion. InvestHK cited QS World University Rankings by Subject 2021 to demonstrate the performance of five world’s top 100 local universities in several innovation-centric areas, among which HKUST ranked top in four engineering and materials science subjects.