InvestHK and Deloitte China report spotlights Hong Kong's strategic strengths to lead as Global Green Tech Hub
Invest Hong Kong (InvestHK) and Deloitte China launched the study "Hong Kong's Path to Carbon Neutrality: Guide to Navigate the Green Tech Market" at an event today (December 11), showcasing Hong Kong's strategic advantages and opportunities in the rapidly evolving green technology sector, along with global investment trends and landscapes. As the global emphasis on climate action intensifies, alongside recent international sustainability commitments like COP29's pledge of US$300 billion in climate finance, Hong Kong is well positioned to capitalise on this momentum by driving regional green tech growth through a focus on five pivotal sectors: power and new energy, green mobility, sustainable built environment, waste reduction and management, and biodiversity.
The event brought together more than 100 industry leaders, investors, sustainability experts, and technology specialists, along with professional service providers, to explore the evolving global trends in climate technology and how Hong Kong can leverage its traditional strengths to become a leading green tech hub. The study also provides recent case studies of overseas green tech ventures that have recently established operations or have business expansion plan in Hong Kong, generating practical insights and approaches for scaling climate solutions in Hong Kong and global markets.
The Global Head of Financial Services, FinTech & Sustainability at InvestHK, Mr King Leung, says, "In the global green tech market, China is emerging strongly, particularly in the Power & Clean Energy sector and Sustainable Built Environment, where China has by far the most patents in the world. Some of these leading companies have already listed and established their international headquarters in Hong Kong. With buildings accounting for the biggest share of energy consumption in Hong Kong, green tech companies are critical for reducing our carbon emissions and embodied carbon through innovation. They can also use Hong Kong as a showcase to accelerate their expansion into other global markets such as the Middle East and Southeast Asia."
The global climate tech landscape is shifting dramatically, with China's share of investment surging from 6 per cent in 2000-2004 to 22 per cent in 2020-2023, while the US share decreased from 76 per cent to 49 per cent. With Hong Kong's strategic position as a gateway between East and West, combined with its deep integration with the Greater Bay Area, the city serves as an ideal destination for global green tech companies seeking to tap into the Mainland market while propelling Chinese innovations onto the global stage. However, key challenges need to be addressed to capture these opportunities.
According to the Greentech Subject Matter Expert Survey, the top three challenges in adoption are weak demand-side push (58 per cent), ecosystem gaps (47 per cent), and limited talent base (47 per cent). To drive green tech development forward, Hong Kong's Climate Action Plan 2050 sets clear policy directions in renewable energy, energy efficiency in buildings, low carbon transport, and waste management. As a leading international financial centre, Hong Kong is well positioned to channel RMB138 trillion needed for China's transition to carbon neutrality by 2050, with the Hong KongExchanges and Clearing Limited leading as the largest venue for Chinese offshore green bonds at 46 per cent of total offshore volume.
To unlock Hong Kong's green tech potential and accelerate its journey toward carbon neutrality, InvestHK and Deloitte China released a joint report illustrating the city's strategic advantages across five key sectors:
Power & New Energy: Hong Kong's electricity generation is transitioning to cleaner sources, with 25 per centcurrently supplied by the zero-emission nuclear sources, while experts suggest renewable energy potential beyond the government projections of 3-4 per cent. With global green energy investments hitting US$1.1 trillion in 2022 and China dominating solar manufacturing, Hong Kong is well placed to advance smart grid and storage technology development.
Green Mobility: Public transport accounts for 90 percentof daily passenger movements in Hong Kong, where transport contributes 20 per centof total emissions. In a sector attracting US$8.95 billion in global investment, the city's extensive transport network creates an ideal testbed for sustainable transport solutions, from transport electrification to autonomous systems integration, and mobility-as-a-service platforms, aligning with China's leadership in electric mobility innovation.
Sustainable Built Environment: Hong Kong leads globally with around 42 000 buildings, including 8 000 high-rises and over 1 500 skyscrapers, with 30-50 per centof carbon emissions coming from construction. The sector presents massive investment potential, with the global zero-energy building technology market set to surge from US$72 billion to US$403 billion by 2031, supported by China's leadership in green building patents.
Waste Reduction & Management: Hong Kong's per capita waste generation exceeds neighbouring cities such asTokyo, Seoul, and Taipei, creating urgent demand for innovative solutions. Recent developments in local recycling infrastructure and emerging business initiatives are accelerating the adoption of waste-to-energy technologies and circular economy solutions.
Biodiversity: With over 40 per centof land designated as protected areas, Hong Kong's rich natural environment combined with its advanced research capabilities creates opportunities for environmental innovation. Ten companies have committed to Taskforce on Nature-related Financial Disclosures for 2024/2025, with growing demand expected for tech solutions in digital species monitoring and biodiversity impact measurement.
Deloitte's research highlights critical enablers for green tech development, with strong government support (47 per cent) emerging as the leading factor, followed by access to funding (53 per cent) and ecosystem readiness (47 per cent). Hong Kong's strengths as a leading financial and innovation hub make it well positioned to capitalise on these success factors, particularly through its financial ecosystem that combines both global reach and market depth. With HK$35.5 trillion in assets under management in which 65 per cent comes from international funding, along with its position as Asia's second-largest private equity market, the city offers a robust foundation for scaling green tech solutions.
Deloitte China Hong Kong Sustainability & Climate Leader Mr Mohit Groversays, "Our analysis reveals that Hong Kong's unique ecosystem positions it to pioneer the next generation of climate solutions. Beyond just having the right capabilities, we're seeing real momentum in how our city is bringing together technical innovation, policy support, and market demand. This convergence creates exceptional opportunities for green tech companies to develop, test, and scale their solutions. What's particularly compelling is how Hong Kong can serve as a dynamic platform for sustainable urban solutions, offering practical insights and implementation models for other Asian cities."
Deloitte Global GreenSpace Tech Leader Ms Andrea Culligansays, "The global green tech landscape is experiencing a fundamental shift in how solutions are developed and scaled. What sets Hong Kong apart in this evolution is its ability to bridge Western capital with Asian innovation. The city's deep understanding of regional sustainability challenges, combined with its sophisticated financial infrastructure, creates unique advantages for companies looking to capture opportunities in Asia's fastest-growing markets. We're seeing increasing interest from international players who recognise Hong Kong's strategic value in their global expansion plans."
Building on these foundations, Hong Kong is accelerating its development as a green tech hub through enhanced research and development support, expended funding mechanisms for start-ups, and strengthened collaboration across academia, industry and government. With the city's unique combination of financial strength, technical expertise, and strategic location, Hong Kong is poised to lead the next wave of sustainable innovation in Asia, turning climate challenges into opportunities for growth and positive impact.
Click here to download the report.
InvestHK and Deloitte China report spotlights Hong Kong's strategic strengths to lead as Global Green Tech Hub Source: HKSAR Government Press Releases
InvestHK and Deloitte China report spotlights Hong Kong's strategic strengths to lead as Global Green Tech Hub Source: HKSAR Government Press Releases
InvestHK and Deloitte China report spotlights Hong Kong's strategic strengths to lead as Global Green Tech Hub Source: HKSAR Government Press Releases
LC: Speech by CS for proposed resolutions moved under Legal Aid Ordinance and Criminal Procedure Ordinance
Following is the speech (translated from Chinese) by the Chief Secretary for Administration, Mr Chan Kwok-ki, for the proposed resolutions under the Legal Aid Ordinance (LAO) and the Criminal Procedure Ordinance in the Legislative Council (LegCo) today (December 11):
Mr President,
I move that my first motion, as printed on the Agenda, be passed to adjust the financial eligibility limits (FELs) for legal aid applicants. Later, I will sequentially move that the other two legal aid-related motions as printed on the Agenda be passed, seeking to adjust the Director of Legal Aid (DLA)'s First Charge and make the Legal Aid in Criminal Cases (Amendment) Rules 2024 to adjust the criminal legal aid fees respectively.
First, I introduce the first Resolution.
Legal aid services form an integral part of the legal system in Hong Kong. The policy objective of legal aid is to ensure that all those who comply with the regulations of the LAO and have reasonable grounds for pursuing or defending a legal action in the courts of Hong Kong will not be denied access to justice due to a lack of means. All legal aid applicants must satisfy both the means test and merits test as provided for in the LAO.
Currently, there are two legal aid schemes under the Legal Aid Department (LAD), namely the Ordinary Legal Aid Scheme (OLAS) and the Supplementary Legal Aid Scheme (SLAS). Different FELs are set for the two schemes in accordance with sections 5 and 5A of the LAO respectively. Pursuant to section 7(a) of the LAO, the LegCo may by resolution amend the relevant FELs.
Pursuant to the mechanism established in 1999, FELs are subject to review annually by making reference to the Consumer Price Index (C) (CPI(C)). According to the latest round of review, for the reference period from July 2023 to July 2024, the CPI(C) has increased by two per cent. Hence, we propose to adjust the FELs upwards by two per cent, namely:
(a) from $440,800 to $449,620 for OLAS; and
(b) from $2,204,030 to $2,248,110 for SLAS.
Mr President, I now introduce the second Resolution.
If a legally aided person is successful in recovering or preserving any money or property in the proceedings concerned, DLA has the right to retain thereunder such sums required for recovering the costs and other expenses incurred by LAD for the legally aided person under section 18A(1) of the LAO. Such right is called the DLA's first charge. However, according to section 18A(5) of the LAO, the DLA's first charge does not apply to the first $9,540 of each monthly payment of maintenance payment. Separately, when DLA is satisfied that the exercise of the DLA's first charge would cause serious hardship to the legally aided person, DLA may in accordance with the principles of fairness and justice exercise discretion to reduce the amount to be retained, provided that the sum to be reduced does not exceed the cap as specified in section 19B(1)(a) of the LAO.
Pursuant to section 22A of the LAO, LegCo may, by resolution, amend the rate of maintenance payments that is exempted from the DLA's first charge, as well as the cap on the amount by which may be reduced in cases of serious hardship.
In response to the increase in CPI(C) by two per cent for the reference period from July 2023 to July 2024 as mentioned above, we propose to accordingly adjust the two above-mentioned specific amounts upwards by two per cent, namely:
(a) the amount specified in section 18A(5) upwards from $9,540 to $9,730, and
(b) the cap on the amount specified in section 19B(1)(a) upwards from $114,140 to $116,420.
Mr President, my third Resolution seeks to make the Legal Aid in Criminal Cases (Amendment) Rules 2024 (Amendment Rules) to adjust the criminal legal aid fees.
At present, LAD pays fees to counsel and solicitors in private practice engaged to undertake litigation work for criminal cases on its behalf (i.e. criminal legal aid fees). The fees are stipulated in the Legal Aid in Criminal Cases Rules (the Rules). Pursuant to section 9A(1) of the Criminal Procedure Ordinance, any amendment to the Rules for adjusting the criminal legal aid fees are subject to the approval of the LegCo.
On the other hand, to ensure that neither LAD nor the Department of Justice (DoJ) would have unfair advantage in competing for the same pool of lawyers, DoJ draws reference to the same scale of fees to engage counsel and solicitors in private practice to appear for the prosecution in criminal cases (i.e. prosecution fees). Duty lawyer fees will be paid to lawyers who provide legal representation to defendants in Magistrates' Courts and Juvenile Courts through the Duty Lawyer Service.
Pursuant to the mechanism established in 1992, the fees mentioned above (i.e. criminal legal aid fees, prosecution fees and duty lawyer fees) are subject to review on a biennial basis to take into account changes in CPI(C) during the reference period.
According to the latest biennial review, the CPI(C) for the reference period (i.e. July 2022 to July 2024) increased by 3.9 per cent. As such, we propose to adjust the Fees upwards by 3.9 per cent accordingly.
We have informed the LegCo Panel on Administration of Justice and Legal Services of the outcome of the reviews regarding the proposed adjustments in the three resolutions mentioned above via an information paper in October 2024. Members raised no objection to the proposed increase. Subject to LegCo's approval of the Resolution, we will implement the proposal upon gazettal of the Resolution.
Separately, when LAD implements the increased criminal legal aid fees, the Government will accordingly adjust the scale of prosecution fees and duty lawyer fees administratively.
I appeal for Members' support for the above three Resolutions. Thank you, Mr President.
