The 2020-21 Budget was announced earlier today (26 February) by the Financial Secretary. BEC welcomes the government’s plan to set up a HK$200 million Green Tech Fund to support R&D and application of decarbonisation and green technologies, finance the implementation of a HK$300 million scheme to recycle waste paper and issue green bonds totalling HK$66 billion within the next 5 years.
We are also pleased to note the plan to reduce transportation-related emissions, including an update to the Clean Air Plan, formulation of a roadmap for EVs, phasing out Euro IV diesel commercial vehicles, as well as funding pilot schemes for electric public light buses, electric ferries, and electric vehicle charging facilities.
However, BEC would like to stress on the importance of bolder climate actions, such as the establishment of a new, dedicated climate resilience team within the government structure to prepare for a climate resilience and adaptation plan, and facilitate the wider business sector to decarbonise through incentives and recognition.
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About Business Environment Council Limited 商界環保協會有限公司
Business Environment Council Limited 商界環保協會有限公司 (“BEC”) is an independent, charitable membership organisation, established by the business sector in Hong Kong. Since its establishment in 1992, BEC has been at the forefront of promoting environmental excellence by advocating the uptake of clean technologies and practices which reduce waste, conserve resources, prevent pollution and improve corporate environmental and social responsibility. BEC offers sustainable solutions and professional services covering advisory, research, assessment, training and award programmes for government, business and the community, thus enabling environmental protection and contributing to the transition to a low carbon economy.