Sustainable Transformation Theatre (Keynote)

Hong Kong has set a target to become carbon neutral by 2050. The push for net zero is driving businesses to create and deliver on ambitious pledges to reduce their carbon footprint. What commitments, partnerships and innovations are needed to help us get there? How can corporates leading the charge inspire, collaborate and share technical expertise to help the city win its race to zero?

As corporates progress on carbon-reduction initiatives, the supply chain has come into focus, with many organisations successfully mapping out and implementing strategies to reduce Scope 1 and 2 emissions. Yet, many still struggle with the challenges posed by Scope 3 emissions, which entail indirect emissions that occur in the value chain. Hear from leaders in this space on how they are addressing Scope 3 as a key opportunity for emissions and cost reduction as well as positive engagement with all stakeholders.

The devastating consequences of climate change for society, the environment and economy have become impossible to deny. While businesses must continue to advance efforts to limit global warming and reduce emissions at speed and scale, there is also a need to focus on adapting to climatic changes, to ensure that we thrive through this transformation and build resilience to a more unpredictable world. Although corporate ambition is on the rise, most companies are still in the early stages of their journey on climate adaptation and resilience.

Businesses rely on nature for resources, ecosystem services and healthy societies for their own prosperity and continuity. As nature loss exacerbates due to climate change and human ecosystem destruction, businesses are starting to realise the material risks of nature loss for their long-term success – as well as opportunities for incorporating nature and biodiversity into business strategies to ensure long-term viability of business models, stable supply chains, access to new markets and services, and improved relationships with stakeholders.

Our ocean provides ecosystem services that are vital for human wellbeing and the prosperity of the global economy. But these services are at risk. With the ocean under increasing pressure from climate change, overfishing, pollution, a loss of biodiversity and coastal ecosystems degradation, what are the risks – and opportunities – facing companies and investors? How can business best harness ocean resources and services for long-term economic development and social prosperity while ensuring the health of our marine ecosystems?

We are not only in a climate crisis, but also a biodiversity crisis – and nature-based solutions can address both challenges simultaneously. The benefits and opportunities of nature-based solutions to address global challenges have never been more urgently needed and relevant. Investments and innovations in nature-based solutions will be key to accelerating the pace and scale required for climate action and nature preservation.

Conglomerates face a unique and complex set of challenges: with large, diverse businesses spread across different industries and geographies, how can they take a leadership role on tackling environmental and social challenges while maintaining growth ambitions and shareholder value creation? Hear from Hong Kong’s leading companies on how they are addressing myriad ESG risks and driving systemic change to move from risk to opportunity – from risk to resilience.

As a mature international financial centre, and with proximity to mainland China and unique access to global investors, Hong Kong has what it takes to become a regional hub for green and sustainable finance. How are we maximising efforts to promote the city’s capital markets as well as financial and professional services for green and sustainable investment, and capitalising on the enormous opportunities presented alongside the development of the Greater Bay Area?

Integration of sustainability in business models has become an imperative for organisations striving to create lasting value for stakeholders, the community and the environment. While ESG criteria have in recent years risen to the top of corporate agendas, navigating the disclosure and reporting landscape remain a challenging and complex task for many, due in part to the proliferation of standards and the need for a coherent and comprehensive disclosure framework to ensure flexibility and drive sustainable value.

It is now conventional wisdom that technology will play a critical role in tackling global environmental issues. But have we become too fixated on digital technology or the next “cutting-edge” technology as the panacea for all our challenges while failing to invest in those that will solve critical problems? As the market size and investments into green technologies continue to grow, how can governments and businesses prioritise technological innovations that build long-term societal resilience and a sustainable future? What is required to enable adoption of sustainable solutions?

The basic needs of a significant proportion of the world’s population remain unmet (i.e., access to clean water and sanitation, nutrition, electricity, adequate housing, healthcare, education). In Hong Kong , almost 15% of the population are unable to afford basic necessities. In discussing what a sustainable future will look like, beyond the focus on environmental sustainability, it is equally important to  meet these basic needs to ensure societal resilience and social sustainability. Moving forward, how should governments and businesses  develop policies and business models to meet such needs while capturing business opportunities in the face of growing environmental and societal challenges?

Hong Kong has long been considered the connector between China and the rest of the world. This role will continue to be of critical importance in areas of sustainability-related policy and technological innovation, as developing countries in ASEAN and beyond embark on their sustainable development journeys and seek to learn from the successes and failures of their neighbouring economies such as China. How can Hong Kong best leverage its role as a bridge and an outbound and inbound connector to China to facilitate greater dialogue and learning? What new opportunities will this present to Hong Kong?