(From left) Dubai Prince Sheikh Ali Al Maktoum; John Leung, associate vice-president (knowledge exchange) of HSUHK; William Tien, International Strategic Relations Director of Private Office Sheikh Ali Bin Rashed Al Maktoum of Dubai; and Simon Ho Shun-man, President of HSUHK pose for a group photo at the signing ceremony of an memorandum of understanding to promote sustainable development at The Hang Seng University of Hong Kong on March 26. (PROVIDED TO CHINA DAILY)

The Asia-Pacific ASEAN Green Deal Centre was launched on Tuesday in Hong Kong, symbolizing a collective commitment to a greener future for the region.

Hong Kong Financial Secretary Paul Chan Mo-po, in a video message at the opening ceremony, held at the Hang Seng University of Hong Kong, said, “The center will serve as a hub of knowledge and expertise dedicated to driving sustainable practices across industries.” 

Its mission is to foster tripartite partnerships among governments, businesses, and communities, thereby driving impactful change for sustainable development through advocacy, education, and engagement

The center is expected to serve as a platform encouraging collaboration and partnerships between academia, business, and government entities, and help Hong Kong make valuable contributions to the green transition, Chan said.

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In a separate video message, Hong Kong Secretary for Environment and Ecology Tse Chin-wan said, “By harnessing the collective expertise of academia, industry leaders, and policymakers, we can drive innovation, share sustainable practices, and promote partnerships.”

As Hong Kong has set an ambitious target to reach carbon neutrality by 2050, Tse said this must be achieved by undertaking sustainable principles and requires the efforts of different sectors. 

As a university-level study and development center, the new center will engage in exchanges and cooperation with countries in the Association of Southeast Asian Nations and the broader Asia-Pacific.

Its mission is to foster tripartite partnerships among governments, businesses, and communities, thereby driving impactful change for sustainable development through advocacy, education, and engagement.

During the ceremony, the Hang Seng University of Hong Kong signed a memorandum of understanding with the Private Office of Sheikh Ali bin Rashed Al Maktoum of Dubai, aimed at promoting sustainable development.

The partnership will facilitate student exchange programs, scholarships, and other collaborative initiatives. It will explore joint initiatives and projects related to education on sustainability, including research, training, and consultation projects.

The office will also assist the university in identifying sustainability-related donations and sponsorships to improve the center’s sustainability and development research. 

While witnessing the MoU signing, Hang Seng University of Hong Kong President Simon Ho Shunman said the new center “stands as a beacon of hope, innovation, and collaboration”.

Ho said he eagerly anticipates forging stronger partnerships with the Asia-Pacific and ASEAN to work together to shape a greener future. 

More assistance should also be given to micro, small, and medium-sized enterprises through digital green bonds and green fintech initiatives

Sheikh Ali Al Maktoum, the nephew of Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum, said, “To me, what being green means resonates from empathy, comes from sensitivity toward yourself and others.”

He said it is a mission for everyone to keep striving and work together to create a long-lasting social impact. 

“The future belongs to Asia,” Albert Oung, co-director of the new center, said. “Whether this is a blessing or a curse depends on our wisdom, our ability to bring about positive changes responsibly.”

To realize the vision of a world that is “not only technologically advanced, but also environmentally conscious and socially just”, Oung said future-oriented policy support, cooperation, and technology are important. 

More assistance should also be given to micro, small, and medium-sized enterprises through digital green bonds and green fintech initiatives, he added.

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Syeeda Khatija K, industry committee chairperson of the Hong Kong-Middle East Business Chamber, said the new center is “a significant step toward addressing environmental challenges and promoting sustainable development in the region”. 

Promoting sustainability will be helpful for businesses related to natural resources, said Khatija, founder of the International Halotherapy Association. Halotherapy is an alternative treatment that makes use of salt. 

“I think it is key to integrate nature and people in any equation in business,” said Sveta Banerjee, founder and managing director of Impact Investing Solutions, a consultancy based in Switzerland. Banerjee said she views the Asia-Pacific ASEAN Green Deal Centre as a great initiative that integrates education in the green business ecosystem, adding that her company is exploring the Dubai market and wishes to expand its expertise to Hong Kong.