What Changed
- Hong Kong SAR is formulating its first five-year plan featuring binding targets for energy, transport, and waste.
- Binding 2035 targets include eliminating coal power, reaching over 60% zero-carbon electricity, halting new fossil-fuelled car registrations, and ending municipal waste landfilling.
- Green and sustainable debt issued in HK surpassed USD 76 billion in 2025, while the Green Technology Bridgehead Programme is announced for launch in 2027.
Background and Context
During a side event titled "From Vision to Collaborative Actions: Hong Kong as the Pivot in Green Transformation" held at the China Pavilion during the 31st Conference of the Parties to the United Nations Framework Convention on Climate Change (COP31) in Antalya, Türkiye, on November 10 (Antalya time), the Secretary for Environment and Ecology of the Hong Kong Special Administrative Region (HKSAR), Mr Tse Chin-wan, delivered an official opening address detailing Hong Kong SAR’s strategic direction for climate mitigation and adaptation.
The address highlighted that the Hong Kong SAR Government is formulating a comprehensive five-year plan for the first time. This forward-looking strategy introduces binding targets designed to accelerate green transformation, reform energy structures, and make the city cleaner and more enjoyable. Hosted at the China Pavilion with the support of China's Ministry of Ecology and Environment, the speech underscored Hong Kong SAR's role as a "super connector" under the "one country, two systems" framework, linking Mainland China with international markets across professional services, green finance, common law systems, and environmental management.
Decarbonisation Progress and Emissions Performance
According to figures presented by the Secretary, Hong Kong SAR's total carbon emissions reached their peak in 2014. Statistical tracking indicates that by 2024, total emissions had dropped by 27 per cent compared to the 2014 peak. Statistics for 2025 demonstrate a further reduction, bringing total carbon emissions to 32 per cent below peak levels.
On a per capita basis, Hong Kong SAR's emissions have decreased by 35 per cent to approximately 4.1 tonnes per person. The speech contextualised this figure by noting that Hong Kong SAR's per capita carbon footprint is about 22 per cent of that of the United States and Australia, and 33 per cent lower than the average of the European Union.
Looking ahead, Hong Kong SAR has established medium- and long-term decarbonisation goals:
1. Halving total carbon emissions prior to 2035 (compared to peak levels).
2. Achieving complete carbon neutrality by 2050.
Key Sectoral Commitments by 2035
The address identified the year 2035 as a critical landmark for Hong Kong SAR’s green transformation. To achieve its 2035 targets, the HKSAR Government is implementing structural measures across energy generation, transport, and waste management:
- Energy Sector: Hong Kong SAR will completely cease using coal for power generation and increase the share of zero-carbon electricity in its energy mix to over 60 per cent. New infrastructure is currently being planned to take up this expanded supply of zero-carbon electricity.
- Transport Sector: Registration of new fossil-fuelled private cars will be halted by 2035. Current adoption trends indicate that out of every 10 new private cars registered, over seven are electric vehicles.
- Waste Management: Landfilling for the disposal of municipal waste will be entirely phased out by 2035. The source notes that municipal waste disposal quantities have declined for four consecutive years, recycling rates are increasing, and waste-to-energy facilities are coming into stream.
Adaptation Infrastructure and Disaster Preparedness
To address climate change adaptation and urban resilience, a dedicated Climate Change Working Group on Infrastructure is coordinating all public works to adapt the urban landscape. The group is executing strategic planning studies required for medium- and long-term coastal defenses against rising sea levels and unprecedented rainfall. In parallel, the Hong Kong Observatory has enhanced the accuracy and lead time of its severe weather warnings, giving emergency services and citizens critical time to prepare and respond.
Green Finance, Carbon Markets, and Future Initiatives
Hong Kong SAR leverages its standing as a major financial centre to mobilize capital for green transformation and technology commercialisation:
- Green and Sustainable Debt: In 2025, total green and sustainable debt issued in Hong Kong SAR surpassed USD 76 billion. The volume of green and sustainable bonds arranged in Hong Kong SAR reached approximately USD 38 billion, ranking first in the Asian market for eight consecutive years since 2018.
- Carbon Trading Platform: In 2022, Hong Kong Exchanges and Clearing Limited launched Core Climate, an international carbon trading platform that connects capital with climate solutions across the region and facilitates carbon credit trading in both Hong Kong Dollar (HKD) and Renminbi (RMB).
- Green Technology Bridgehead Programme: To support green tech companies, the HKSAR Government will launch the Green Technology Bridgehead Programme in 2027, helping environmental companies use Hong Kong SAR as a springboard into international markets.
Frequently Asked Questions
Q1: What are Hong Kong SAR's primary carbon reduction targets for 2035 and 2050?
A1: Hong Kong SAR aims to halve its carbon emissions before 2035 compared to its 2014 peak and achieve full carbon neutrality by 2050.
Q2: What key regulatory and operational changes will occur in Hong Kong SAR's energy and transport sectors by 2035?
A2: By 2035, Hong Kong SAR will stop using coal for power generation, raise the share of zero-carbon electricity to over 60 per cent, and stop registering new fossil-fuelled private cars.
Q3: What is the status of green bond issuance in Hong Kong SAR within the Asian market?
A3: In 2025, green and sustainable debt issued in Hong Kong SAR exceeded USD 76 billion. Arranged green and sustainable bonds reached around USD 38 billion, maintaining the top rank in Asia for eight consecutive years since 2018.
Q4: What is the Green Technology Bridgehead Programme and when is it scheduled to launch?
A4: Scheduled to launch in 2027, the Green Technology Bridgehead Programme is an initiative designed to assist green technology and environmental companies in utilizing Hong Kong SAR as a springboard to access international markets.
Q5: What action is planned regarding municipal waste disposal in Hong Kong SAR by 2035?
A5: Hong Kong SAR will completely cease the use of landfilling for municipal waste disposal by 2035.
Who May Be Affected
Power generators, automotive importers, waste management firms, green tech companies, financial market participants, and residents in Hong Kong SAR.
Cross-Border Context
Speech delivered at the China Pavilion during COP31 in Türkiye under the 'one country, two systems' framework, linking Mainland China and global green finance/tech markets.
What to check next
- Monitor official announcements from the Environment and Ecology Bureau regarding the formulation and release of the five-year plan.
- Track details on implementation frameworks for the 2027 Green Technology Bridgehead Programme.
- Check regulatory filings or rules updates from Hong Kong Exchanges and Clearing Limited regarding Core Climate platform operations.
This article provides general information and does not constitute legal advice. Consult the official text and obtain advice appropriate to your circumstances where needed.