Director of the Hong Kong Economic and Trade Office (Toronto) (HKETO), Ms Emily Mo, joined the “GreenTech Opportunities in Hong Kong for Canadian Companies” webinar co-hosted by the HKETO, Hong Kong Trade Development Council (Toronto), Invest Hong Kong (Canada) and Hong Kong-Canada Business Association (Toronto Section) on August 24.
This webinar, supported by the Government of Canada, aimed to provide invaluable insights into the Hong Kong green tech market and funding opportunities available in the city, as well as the windows of opportunity to leverage prominent environment protection events like Eco Expo Asia and International GreenTech Week.
In delivering opening remarks at the webinar, Ms Mo first noted the close relations between Hong Kong and Canada. “Hong Kong’s prime location in Asia, bilingual common law system, rule of law, low and simple tax system, strong government and global professional support are the unique business advantages offered to Canadian companies,” she said. “Hong Kong and Canada also share the same goal to achieve carbon neutrality by 2050.”
Over the years, Hong Kong has been exploring various solutions to combat climate change, including seeking more zero-carbon energy, adopting energy-saving technologies, promoting the wider use of e-vehicles and green building, and enhancing waste reduction and recycling.
“Hong Kong established the Green Tech Fund in 2020 with about 65 million Canadian dollars,” Ms Mo said. “The Innovation and Technology Fund also provides numerous financial support and resources to the relevant businesses. There are over 100 green-tech companies and startups operating in our incubators such as the Hong Kong Science and Technology Park and Cyberport. These incubators always welcome overseas companies to settle in Hong Kong.”
Ms Mo highlighted that Hong Kong is not only a hub for green tech, but also a prominent player in the green finance ecosystem. “Hong Kong is one of the world’s largest green bond markets,” she said. “We have issued a tokenized green bond and over 57 billion US dollars in green and sustainable debts in 2021.” She added that there is a strong presence of global institutional investors looking for green investment opportunities, thus creating opportunities also for internationally-recognized agencies for green certificates.
Ms Mo stressed that enormous opportunities are posed by the requirement of ESG reporting and the huge demand for green projects and green financing in the Mainland China. There is strong pull factor for global investors to set up ESG-related businesses via Hong Kong. The changing consumption behavior also plays a key role in driving green tech developments.
Before closing, Ms Mo encouraged participants to join the Canadian GreenTech Mission to Eco Expo Asia or make use of HKETO’s support services offered by IHK.
最後，巫菀菁鼓勵與會者加入Canadian GreenTech Mission參加國際環保博覽，或善用香港經貿處由香港投資推廣署提供的支援服務。