Speech by Acting FS at Greenway 2026 - Closing and Sharing of Business Recommendations
Following is the speech by the Acting Financial Secretary, Mr Michael Wong, at Greenway 2026 - Closing and Sharing of Business Recommendations today (June 23):
Ambassador Rouse (Ambassador and Head of Office of the European Union to Hong Kong and Macao, Mr Harvey Rouse), Mr Hack (Chair of the European Chamber of Commerce in Hong Kong, Mr Johannes Hack), Professor Wong (Chairman of Environment and Sustainability Committee of Hong Kong General Chamber of Commerce, Professor Steve Wong), distinguished guests, ladies and gentlemen,
I would like to start by thanking the European Union Office and the European Chamber of Commerce for co-organising this marvellous event.
We are excited to unveil the Greenway 2026 Industry Recommendations just presented to me. They provide a collaborative roadmap for our partnership on green transition. They also highlight the power of open exchange between Hong Kong and our international business partners, including the vibrant community of over 1 780 European companies in Hong Kong.
It is highly encouraging to see how the Green Way insights closely align with Hong Kong's approach. In the next few minutes, I would like to share with you how we are tackling the challenges involved through policies and new initiatives in four areas.
Firstly, new sources of energy and their efficient use. We are transforming our fuel mix and phasing out coal. Specifically, for electricity generation, we will progressively increase the use of zero-carbon energy to about 60 per cent to 70 per cent by 2035, up from 25 per cent last year. And we aim to achieve the target of "net-zero electricity generation" by 2050.
We are also working on hydrogen, which we see as a promising source of new energy. We believe hydrogen can help particularly to decarbonise heavy-duty vehicles. In this regard, we announced our strategy regarding hydrogen development back in June 2024, and are progressively establishing the relevant comprehensive safety standards and codes of practice. Currently, we are formulating a green and low-carbon hydrogen certification framework, and we aim to get it ready next year or even earlier.
Apart from hydrogen, we are working on sustainable aviation fuel (SAF) and green maritime fuels. We have started building a SAF value chain in the Greater Bay Area, and we aim to achieve a 1 per cent to 2 per cent SAF usage for flights departing from Hong Kong by the year 2030.
In parallel, we are gearing up to develop Hong Kong into a pre-eminent green maritime fuel bunkering and trading centre. In 2025 alone, over 220 000 tonnes of green maritime fuels were bunkered in Hong Kong. This March, we performed our first green methanol bunkering operations at anchorage and at our container terminals. Both were highly successful.
Secondly, our work regarding waste reduction and the promotion of biodiversity. Our first modern waste-to-energy facility for treating municipal solid waste, IPARK 1, commenced its first phase of trial operation in December last year, and we will soon seek funding for the construction of IPARK 2. Furthermore, a recycling facility for EV (electric vehicle) batteries will commence operation in our EcoPark very soon.
As regards biodiversity, we updated the relevant Strategy and Action Plan, the so-called BSAP (Biodiversity Strategy and Action Plan), in December last year. It will help align with the relevant national and global frameworks well into the next decade.
Thirdly - I think that was mentioned by Chairman Hack and Professor Wong - green tech and green finance. We see them as indispensable elements supporting our green transformation. We have established a HK$400 million Green Tech Fund. It has already approved 39 R&D (research and development) projects covering decarbonisation technologies ranging from hydrogen energy to advanced waste upcycling.
As regards green finance, we will continue to leverage our strengths as an international financial centre to connect international capital with green projects. In 2025, the total green and sustainable debt issued in Hong Kong exceeded US$76 billion. Within this amount, the volume of green and sustainable bonds arranged in Hong Kong was about US$38 billion, and this accounted for about 40 per cent of the regional total, and we ranked first in the Asian market for eight consecutive years since 2018.
My fourth and last sharing this afternoon relates to public education. Sustainable development cannot succeed without an environmentally conscious public. We have therefore included in our primary and secondary school curricula relevant content ranging from carbon neutrality to waste reduction. At the community level, we have recently launched a new campaign to let members of the public know how they can help reduce carbon through green living.
Ladies and gentlemen, the European Union business community is a critically important partner for Hong Kong. We deeply value the European Union's pioneering contributions to green technologies and to the development of robust international standards. And I must thank our European partners again for bringing to Hong Kong their vision, their world-leading techs, and their environmentally friendly culture. Hong Kong has much to learn, and Hong Kong will do our part in contributing towards a more resilient, more sustainable world in collaboration with all like-minded partners in the European Union. Thank you all very much.
Acting Financial Secretary, Mr Michael Wong, Photo source: reference image
InvestHK leads first dedicated new energy and sustainability delegation to UK to drive bilateral green investment
Invest Hong Kong (InvestHK) led its first New Energy and Sustainability Mission to the United Kingdom (UK) from June 16 to 24 (London time), co-organised with the UK's Department for Business and Trade, to champion Hong Kong as the premier launch pad for Hong Kong and Chinese Mainland green tech companies going global, while attracting UK clean tech firms and investors to the city.
Led by the Global Head of Financial Services, Fintech and Sustainability of InvestHK, Mr King Leung, and accompanied by the Senior Vice President (Sustainability) for Technology, Innovation and Entrepreneurship of InvestHK, Ms Olivia To, the delegation represented the full breadth of Hong Kong's new energy and green tech ecosystem, bringing together 25 companies - spanning listed, pre-IPO (initial public offering) and start-up businesses alongside active investors. Backed by two ecosystem partners, namely the Hong Kong Science and Technology Parks Corporation and the Hong Kong Trade Development Council, this assembly brought together deep expertise across areas such as battery and energy storage, renewable energy and hydrogen, smart electric vehicle infrastructure, new materials and AI. The Director-General of the Hong Kong Economic and Trade Office in London (London ETO), Miss Fiona Chau, also participated in part of the delegation's visit.
In Scotland, delegates explored the UK's energy transition at scale, with the itinerary deliberately tracing the journey from heavy industry decarbonisation to next-generation clean energy. Visits to major green industrial clusters and Forth Green Freeport sites in the Edinburgh and Aberdeen areas - the heart of the UK's pivot from North Sea oil and gas to clean energy and hydrogen - offered a live case study in cluster reinvention potentially relevant to Hong Kong and the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), while engagements with the representatives from the University of Edinburgh and the City of Edinburgh Council opened strategic dialogues on offshore wind, hydrogen and carbon capture.
The delegation timed its London leg to coincide with London Climate Action Week, one of the largest gatherings of its kind globally and a magnet for the policymakers, investors and innovators shaping the net-zero agenda. At Reset Connect London - the UK's premier sustainability and green investment event - representatives from four companies scaling operations across bilateral markets took to the stage to profile Hong Kong's green tech credentials and their own solutions before an international audience of capital allocators. These companies and investors are now planning to scale up their investments and project rollouts in both Hong Kong and the UK. The delegation also attended the Octopus Energy Tech Summit and met with their China market representatives to explore collaboration.
InvestHK also cohosted networking receptions in Edinburgh and London on June 19 and 23 respectively, alongside the London ETO. Attended by delegates, local partners, and industry stakeholders, these initiatives aimed to turn the connections built during the tour into practical and productive opportunities.
Mr Leung said, "As both economies pivot toward net zero, the synergistic alignment between Hong Kong and the UK has never been clearer. Hong Kong and London are the world's pre-eminent green finance centre, and Hong Kong is Asia's ultimate 'super connector', uniquely bridging the Chinese Mainland green tech enterprises with global markets under the 'one country, two systems' framework. This mission is the practical infrastructure of that bridge, connecting patient capital, technology partners and corporate buyers to drive real commercial outcomes, and demonstrating how Hong Kong serves as the launch pad for companies scaling into the US$2 trillion GBA and the wider region."
The Head of Business and Talent Attraction/Investment Promotion of the InvestHK London Office, Ms Daisy Ip, added, "This mission highlights InvestHK's evolving role, from attracting capital, talent and standards into Hong Kong to actively supporting companies as they go global. Our delegates raised their profile alongside the InvestHK team at the UK's leading sustainability forums, while UK clean tech firms, investors and research institutions saw first-hand the strength of Hong Kong's green finance and innovation ecosystem. Through InvestHK's extensive global network, we are committed to facilitating these two-way opportunities."
The Director General for Trade and Investment, British Consulate General Hong Kong, Mr Chris Woodward, said, "Few partnerships are as complementary as the UK and Hong Kong on the net-zero transition. Britain's strengths in offshore wind, hydrogen and carbon capture are matched by Hong Kong's unrivalled ability to mobilise capital and open doors across the GBA and Asia. That is what makes this delegation so valuable. It puts UK clean tech firms, investors and researchers directly in front of the companies and capital that can scale British innovation regionally. We were delighted to cohost a mission that turns shared climate ambition into tangible commercial outcomes."
The Director of Europe at RelyEZ, Ms Michelle Cross, said, "As a global integrated energy service provider spanning project development, proprietary R&D (research and development), and equipment manufacturing, the company has deployed over 200 global projects worldwide, with a total storage capacity of 13 GWh to date. We see Hong Kong as the natural bridge between Chinese energy-storage capabilities and international markets. We are building the city into our global financing headquarters and the platform through which international capital can access high-quality energy transition assets worldwide - drawing on its capital markets, professional expertise and connectivity to the GBA. This mission demonstrates how that ecosystem can connect directly with UK and European partners, capital and policymakers to turn shared ambition into lasting partnerships."
InvestHK remains at the forefront of cementing Hong Kong's status as Asia's pre-eminent hub for green technology and sustainable finance. By driving targeted initiatives like the Energy and Sustainability Mission, the department acts as a critical catalyst, connecting UK clean tech innovators, investors, and research institutions into Hong Kong's dynamic ecosystem, while empowering Mainland and local enterprises to scale globally. Backed by a robust financial architecture, world-class universities for R&Ds and professional services, and seamless connectivity to the US$2 trillion GBA and broader Asian markets, Hong Kong continues to reinforce its position as a unique launch pad for cross-border sustainability collaboration and commercial growth.
InvestHK leads first dedicated new energy and sustainability delegation to UK to drive bilateral green investment Source: HKSAR Government Press Releases
InvestHK leads first dedicated new energy and sustainability delegation to UK to drive bilateral green investment Source: HKSAR Government Press Releases
InvestHK leads first dedicated new energy and sustainability delegation to UK to drive bilateral green investment Source: HKSAR Government Press Releases
InvestHK leads first dedicated new energy and sustainability delegation to UK to drive bilateral green investment Source: HKSAR Government Press Releases
