Albert Wong, CEO of Hong Kong Science and Technology Parks Corporation, speaks at the HKSTP's "Green is Action" event on June 5, 2023. (PHOTO PROVIDED TO CHINA DAILY)

HONG KONG – The Hong Kong Science and Technology Parks Corporation has unveiled an emissions action plan setting new operating benchmarks to show the city’s businesses and industries that net-zero emissions is a viable business goal.

Marking World Environment Day on Monday, the HKSTP presented during its "Green is Action" event its Net-Zeo 2045 Vision plan, which aligns with Hong Kong’s climate action plan and its goal of propelling the city into the international green tech and green finance center

“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,” said Albert Wong, CEO of HKSTP.

HKSTP and several green tech park companies also showcased how the Science Park ecosystem is driving world-class innovations for a greener, more sustainable future

Net-Zero 2045 Vision also 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.

“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,” Wong said.

“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,” he added.

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The Net-Zero 2045 Vision ensures the HKSTP’s operations meet the Corporate Net-Zero Standard established by the Science Based Targets initiative (SBTi) by 2045. 

The SBTi’s Corporate Net-Zero Standard is one of the world’s most recognized 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 degrees Celsius.

HKSTP has set near- and long-term targets meeting SBTi’s standard. The near-term targets by 2030 include reductions of 42 percent carbon emissions in operations, reduction of 25 percent carbon emissions in downstream leased assets, and reduction of 52 percent carbon emissions intensity (per square meter) from capital goods. 

To start this journey to Net-Zero, HKSTP is formulating a decarbonization roadmap with a key focus on areas such as building energy efficiency, retro-commissioning and retrofitting.

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HKSTP and several green tech park companies have also showcased how the Science Park ecosystem is driving world-class innovations for a greener, more sustainable future. 

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!” he said.