Paul Chan Discusses Decarbonization and Global Finance at World Economic Forum in Davos

2026-01-23 09:00 Last Updated At：22:15

FS concludes attendance at World Economic Forum Annual Meeting (with photos/video)

The Financial Secretary, Mr Paul Chan, yesterday (January 22, Davos time) continued his programme at the World Economic Forum (WEF) Annual Meeting in Davos, Switzerland. He attended a thematic session and met with leaders from political, business, and international organisations from around the world.

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FS concludes attendance at World Economic Forum Annual Meeting (with photos/video) Source: HKSAR Government Press Releases

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FS concludes attendance at World Economic Forum Annual Meeting (with photos/video) Source: HKSAR Government Press Releases

In the morning, Mr Chan attended a thematic session titled "How to Finance Decarbonization?" and served as a speaker. The session focused on how, amid global economic slowdown, high debt levels in advanced economies and geopolitical developments, public-private collaboration can continue to support the goal of achieving carbon neutrality.

During the discussion session, Mr Chan pointed out that both the country and Hong Kong are firmly and steadily progressing towards the goal of carbon neutrality. He shared Hong Kong's target of achieving carbon neutrality by 2050 and the strategies to realise it. These include leveraging government policy to steer behavioural changes among enterprises and consumers, such as providing tax concessions for electric vehicles and incentives for green buildings. He also mentioned financial support for trials of innovative technologies, such as sustainable hydrogen-powered transport, to encourage innovation.

As an international financial centre, Hong Kong actively facilitates private capital participation in the decarbonisation process through a rich green finance ecosystem, such as green bonds and Environmental, Social and Governance (ESG) funds. The Hong Kong Special Administrative Region (HKSAR) Government also encourages financial innovation, including the issuance of tokenised green bonds to allow wider investor participation in green projects, and the securitisation of loans for infrastructure projects to release capital for reinvestment into new projects.

Mr Chan stressed that public support and trust are key to achieving a green transition. The HKSAR Government ensures that funds are genuinely used for green projects by formulating internationally aligned standards, including a green taxonomy and disclosure requirements. For high-emission enterprises, such as mining companies, listing in Hong Kong not only enables them to access capital to support their development but also helps enhance their corporate governance, transparency and recognition in global markets.

Mr Chan also continued to meet with leaders from political, business and international organisations yesterday, including the President and Chief Executive Officer of the WEF, Mr Børge Brende, and the First Deputy Managing Director of the International Monetary Fund, Mr Dan Katz, to exchange views on global finance and issues of mutual concern, and to share Hong Kong's perspective.

Mr Chan also held separate meetings with the Global Chairman of PricewaterhouseCoopers, Mr Mohamed Kande; the Chief Executive Officer of AXA Group, Mr Thomas Buberl; and the Vice President of Global Public Policy of Amazon Web Services, Mr Michael Punke, to exchange views on the current global economic and market situation, as well as technological development.

Mr Chan has concluded his visit to Davos. He will depart Switzerland today (January 23, Davos time), and return to Hong Kong on Saturday morning (January 24, Hong Kong time).

Hong Kong Customs Seizes $3.4 Million in Drugs, Two Arrested at Airport and Yau Ma Tei.

Hong Kong Customs detects two dangerous drugs cases and seizes suspected drugs worth about $3.4 million

Hong Kong Customs detected two dangerous drugs cases in Hong Kong International Airport and Yau Ma Tei respectively on April 1 and yesterday (April 2), and seized a total of about 3.1 kilograms of suspected ketamine, about 1.7 kilograms of suspected cocaine and about 1.7 kilograms of suspected methamphetamine with a total estimated market value of about $3.4 million. Two persons suspected to be connected with the cases were arrested.

In the first case, a 43-year-old male passenger arrived in Hong Kong from Bangkok, Thailand on April 1. During customs clearance, Customs officers found about 3.1 kilograms of suspected ketamine concealed inside food packaging in his baggage. The man was subsequently arrested.

In the second case, during an anti-narcotics operation conducted in Yau Ma Tei on April 2, Customs officers intercepted a 41-year-old man and later escorted him to a hotel room nearby for a search and seized about 1.7 kilograms of suspected cocaine, about 1.7 kilograms of suspected methamphetamine, a drug inhaling apparatus and a batch of drug packaging paraphernalia. The man was subsequently arrested.

The arrested persons have been charged with one count of trafficking in a dangerous drug respectively and will appear at the Kwun Tong Magistrates' Courts tomorrow (April 4).

Customs will continue to step up enforcement against drug trafficking activities through intelligence analysis. The department also reminds members of the public to stay alert and not to participate in drug trafficking activities for monetary return. They must not accept hiring or delegation from another party to carry controlled items into and out of Hong Kong. They are also reminded not to carry unknown items for other people, nor to release their personal data or home address to others for receiving parcels or goods.

Customs will continue to apply a risk assessment approach and focus on selecting passengers from high-risk regions for clearance to combat transnational drug trafficking activities.

Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.

Members of the public may report any suspected drug trafficking activities to Customs' 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

Paul Chan Discusses Decarbonization and Global Finance at World Economic Forum in Davos

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