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Events


Industry News


Eco Expo Asia 2020: Hong Kong and the Greater Bay Area invest in a greener future


W


ith goals to eliminate carbon emissions by 2050 and substantial


government funding for green financing and eco-friendly transport, Hong Kong and the wider Greater Bay Area (GBA) are driving towards a more sustainable, green economy. Backed by strong government


support, the region is well-positioned to offer opportunities for new eco- friendly products and initiatives. Exhibitors at Eco Expo Asia, a trusted industry platform that attracts a wide range of public as well as private sector visitors, can tap into the developing Mainland Chinese eco market, meet with GBA and Asian government policy makers, and showcase their latest sustainability successes.


European pavilions at Eco Expo Asia 2019 Last year, the Hong Kong Green Finance Association (HKGFA) announced plans to effectively ‘green’ the Greater Bay Area through the establishment of the Green Finance Alliance. The GBA is a Mainland Chinese government initiative to develop an integrated economic hub by linking nine major cities of South China’s Guangdong Province, Hong Kong and Macau. Together with the Guangzhou Green Finance Committee, the Shenzhen Green Finance Committee and the Macau Association of Banks, the alliance will support green investment projects and research in areas including waste management, green buildings, green transport and more. The overall goal of the alliance is to reduce carbon emissions to zero by 2050. Since the formation of the alliance, the Hong Kong Monetary Authority (HKMA) has introduced a scheme to promote sustainable banking procedures across Hong Kong banks. Under the HKD 100 billion Green Bond Programme, a USD 1 billion bond was issued by the government


20 Forest Bioenergy Review Summer 2020


policy makers from the GBA who are in search of new eco technologies and products to satisfy sustainability goals.


in May, 2019, which will be used to finance projects that contribute to the environmental development and sustainability of Hong Kong. What’s more, a survey conducted by the HKMA in 2019 stated that 47 Hong Kong banks have acquired green loans totalling to HKD 20 billion (USD 2.58 billion) and green bonds worth HKD 40 billion (USD 5.16 billion). Whilst green and sustainable


banking becomes ever more established in the GBA’s finance sector, Eco Expo Asia is well- positioned to facilitate future B2B and B2G business collaborations, as investment opportunities run high in the region. At last year’s edition, the fair welcomed visitors from international banks including: HSBC, DBS, ICBC, BEA and Bendura Bank. Moreover, located in Hong Kong, the fair is ideally situated to connect international and Mainland Chinese environmental protection markets.


Carbon to electric: the promising GBA green transport market In 2019, Hong Kong announced its plan to phase out fossil fuel vehicles over the next ten to 20 years. To help achieve this target, the region has invested heavily in a HKD 300 million (USD 38.7 million) Green Transport Fund to support the research and development of green technologies across a range of sectors. Besides this, as part of the push


for electric vehicles, the Hong Kong SAR Government has introduced a HKD 2 billion (USD 258 million) pilot subsidy scheme to subsidise the installation of electric vehicle charging-enabling infrastructure in car parks of private and residential buildings across the city. Hong Kong’s move towards


green vehicles echoes a project implemented in neighbouring city, Shenzhen. The Southern Chinese locale has been noticed as the first city in the world to convert all of its public buses and almost all of its taxis to electric power. On top of this, over the course of the past three years, 60,000 electric light vans and trucks have been utilised for urban freight distribution with construction trucks, road sweepers, e-bikes and more next in line. The changeover has resulted in an estimated 2.2 million tons of carbon dioxide reduction per year, improving both air and noise pollution in the city, and other Chinese cities have followed suit. With over 61% of global sales in 2018, Mainland China represents the world’s largest market for electric vehicles. The transition to electric


vehicles demonstrates the region’s commitment to adopting eco-friendly transport technologies and highlights the opportunities for green transport solution providers. At Eco Expo Asia, exhibitors have the opportunity to meet face-to-face with government


Case study: Taiwan uses European technology for electric ferries Meanwhile, since the International Marine Organisation’s new low sulphur regulation came into force in January 2020, shipping companies worldwide have been required to reduce their sulphur emissions by 85%. In light of this, governments in the region have been looking for solutions to convert public transport such as passenger ferries from fossil fuel to electric power. In fact, other parts of Asia have already adopted international technologies for use in public transport. Over the past three years, Taiwan


has launched hybrid and electric public ferries using technologies from Danish and German companies: Danfoss and Baumüller. Today, the first fully electric passenger ferry in Asia is in operation using Baumüller technology and solar power. The ferry transports passengers across the busy Kaohsiung harbour in Taiwan. Other hybrid ferries are also in use at Kaohsiung, featuring a battery system combined with electric power. The green technologies in use significantly contribute to the local green transportation sector, whilst the adoption of international innovations bridge Eastern and Western eco- friendly industries. Eco Expo Asia 2020 will be


held from 28-31 October, 2020, at AsiaWorld-Expo. The fair is jointly organised by the Hong Kong Trade Development Council (HKTDC) and Messe Frankfurt (HK) Ltd and co-organised by the Environment Bureau of the Hong Kong Special Administrative Region (HKSAR) Government. For more information, please email ecoexpo@hongkong.messefrankfurt. com or exhibitions@hktdc.org, or visit www.ecoexpoasia.com.


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