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Secretary for the Environment KS Wong
Climate change poses a global challenge for everyone. Being part of the international community, Hong Kong needs to contribute to the solution, and there is generally greater expectation on the Government, as well as the large corporations, such as listed companies shared by you.
So you may already be aware that the Government's target is to reduce the city's carbon intensity by 50% to 60% by 2020, using 2005 as the base year. This equates to an absolute reduction of one-fifth to one-third of Hong Kong's carbon emissions, which is significant.
Joining forces
The Carbon Footprint Repository is part of our efforts to combat climate change. To achieve our target, we need the private sector to join hands with the Government. I hope more and more listed companies will contribute to improving their carbon management.
I want to say thank you to the stock exchange especially for its efforts in promoting Environmental, Social and Governance Reporting since 2012. I hope the Carbon Footprint Repository can also help the exchange's coming consultation on its Environmental, Social and Governance Reporting Guide planned for next year, and we are looking forward to the result.
I understand that another driver for adopting Environmental, Social and Governance practices and reporting is the growth of responsible investment, as more investors have started to incorporate Environmental, Social and Governance criteria into their valuations and investment strategies.
Secretary for the Environment KS Wong gave these remarks at the launch of the Carbon Footprint Repository for Listed Companies in Hong Kong.
