(Hong Kong, 5 June 2023) – Hong Kong Science and Technology Parks Corporation (“HKSTP”) marked World Environment Day by presenting its Net-Zero 2045 Vision at the HKSTP “Green is Action” event to ensure its operations meet the Corporate Net-Zero Standard established by the Science Based Targets initiative (SBTi) by 2045. This makes HKSTP the first statutory body in Hong Kong to commit to net-zero by 2045, five years ahead of Hong Kong’s Climate Action Plan 2050 Carbon Neutrality target.
The commitment is also an investment by HKSTP to build an ecosystem to support the Hong Kong Government’s goal of establishing the city as an international green technology and financial centre, as announced by the Financial Secretary in his 2023-24 budget.
The SBTi’s Corporate Net-Zero Standard is one of the world’s most recognised frameworks for corporate Net-Zero target setting in line with climate science. It includes the guidance, criteria, and recommendations that companies need to set science-based Net-Zero targets consistent with limiting overall global temperature rise to 1.5°C.
HKSTP has set near- and long-term targets covering SBTi’s Scope 1, 2 & 3 carbon emissions. These cover carbon emissions across its own operations and across its extended value chain. The near-term targets by 2030 include:
- Reductions of 42% carbon emissions in operations (i.e., Scope 1 & 2);
- Value chain carbon emissions (i.e., Scope 3):
- Reduction of 25% carbon emissions in downstream leased assets such as carbon emissions from tenants and waste.
- Reduction of 52% carbon emissions intensity (per square meter) from capital goods such as embodied carbon emissions.
To start this journey to Net-Zero, HKSTP is formulating a decarbonisation roadmap with a key focus on areas such as building energy efficiency, retro-commissioning and retrofitting.
Mr. Albert Wong, CEO of HKSTP, said: “Hong Kong is fast emerging as a leader and a first-mover in green tech and green finance innovation. We hope our Net-Zero 2045 vision can help lead the way by setting new operating benchmarks and show Hong Kong businesses and industries that Net-Zero is a viable business goal. HKSTP is building a green tech and green finance ecosystem to spark a cluster effect to launch climate and sustainability innovations from Hong Kong to the world and vice versa. With more than 100 green tech ventures already, HKSTP believes that creating a virtuous cycle of green innovation and investment will drive sustainability, which further drives even more innovation.”
HKSTP and several green tech park companies showcased how the Science Park ecosystem is driving world-class innovations for a greener, more sustainable future. Featured green tech park companies include (company profiles are attached in Appendix):
- Archireef Limited
- i2Cool Limited
- ‘M’ Concepts Studio Ltd
- Neuron Digital Group
Ms. Hayley Wong, Sustainability Strategist of Archireef Limited, said: “Archireef aims to enhance marine biodiversity for a nature-positive future, which also aligns with Hong Kong’s commitment to become carbon neutral by 2050 and the United Nations’ rally call for the decade of restoration 2021-2030. Headquartered in Hong Kong and expanded to Abu Dhabi in the United Arab Emirates last year, Archireef is well-positioned to further expand its footprint and restore coral reefs in other parts of the world.”
Dr. Martin Zhu, Co-Founder of i2Cool Limited, said: “i2Cool is committed to integrating energy-saving innovative technologies into people's daily lives, alleviating energy shortages, promoting sustainable development and economic growth, and moving towards carbon neutrality. Our passive radiative cooling technology is inspired by Saharan silver ant’s skin structure with self-cooling function that allows it to survive in an extremely hot environment. Let’s go green and stay cool!”
Mr. John Wong, Assistant Manager of ‘M’ Concepts Studio Ltd, said: “With growing concerns around global warming, developing an efficient indoor environmental control system becomes essential in every part of the world to safeguard human health. With our continual R&D development at HKSTP, our aspiration is to expand our Flatcool Technology to other building sectors including high performance data centres, hospitals, and transportation hubs. We strongly believe that our innovative Flatcool Technology will provide a promising direction towards achieving an efficient and climate-friendly cooling technology to help reduce carbon footprints.”
Mr. Mark Chen, Executive Lead of Neuron Operations Limited, said: “In the Hong Kong construction sector, buildings account for 90% of total electricity usage and generate 60% of carbon emissions each year. Neuron is committed to being an ESG-driven and oriented organisation, exerting our talent to helping various industries with viable solutions - enhance energy efficiency and decrease carbon emissions. Making both commercial activities and environmental protection achievable.”
For more information on HKSTP’s sustainability initiatives please refer to:
https://www.hkstp.org/who-we-are/sustainability/
