Rethinking Carbon Markets and Prioritising Real Emission Reductions

This session will explore the dual challenges and opportunities of carbon markets in Hong Kong, particularly in the wake of industry that has questioned their effectiveness and integrity. While carbon markets offer a mechanism for industries to offset emissions, they have sometimes been criticised for enabling greenwashing or allowing businesses to avoid making real, impactful changes.

This panel session will address these concerns and propose ways to improve and synchronise carbon markets to ensure they complement, rather than replace, genuine emission reduction efforts. By aligning carbon trading with robust regulatory frameworks and transparent reporting, we can enhance their credibility and effectiveness. Our panellists will also explore the importance of integrating carbon markets into a broader strategy that prioritises reducing emissions at the source, ensuring they serve as a tool for accelerating climate action rather than a loophole.

Learnings

1. How can businesses adopt a proactive approach to sustainability, embedding emission reduction practices into core operations?
2. What is a balanced approach that combines carbon trading with direct emission reductions?

Post-event Actions

1. Advocate for greater transparency and standardisation in carbon market mechanisms.
2. Collaborate with industry stakeholders to develop best practices for aligning carbon markets with science-based emission reduction targets.
3. Support internal policies that prioritise direct emission reductions