'Innovation is the basis of HK's five-year plan'

Acting Chief Executive Paul Lam reaffirmed on Tuesday that innovation would be a cornerstone of Hong Kong’s long-term strategy for sustainability, taking centre stage in the city’s inaugural five-year plan.

Delivering the keynote address at Green Way 2026 – the flagship sustainability event hosted by the European Union Office to Hong Kong and Macao – Lam said the SAR government released its first five-year plan public consultation document last week, which explicitly highlights new energy, green technology and innovative applications as priority areas.

Lam underscored Hong Kong’s capacity and resolve to drive sustainability with innovation, and stressed the need to accelerate green transformation across key industries, particularly shipping and aviation, to boost their competitiveness.

This includes expanding green fuel bunkering services to position the city as a regional leader in low-carbon logistics.

"The green transformation requires capital inputs on an unprecedented scale, and Hong Kong provides the most reliable and friendly platform for raising the capitals needed," he said.

"For eight consecutive years, Hong Kong has led Asia in arranging international green and sustainable bond issuances which accounted for about 40 percent of the regional total."

Looking to the skies, Lam highlighted aviation decarbonisation as a critical frontier, noting that sustainable aviation fuels can cut life-cycle emissions by more than 80 percent compared to conventional jet fuel.

He added that Hong Kong is making tangible progress toward its 2050 carbon-neutrality goal, with total greenhouse gas emissions already down 27 percent from their 2014 peak.

The acting Chief Executive reiterated that the SAR government will continue pursuing these vital objectives through measures that align economic and social development with environmental stewardship, with innovation serving as a core driver.

He also extended an open invitation for collaboration with the European Union, saying Hong Kong is eager to partner with EU stakeholders to seize emerging opportunities and jointly address pressing environmental challenges.

Also speaking at the event, Ambassador Harvey Rouse, head of the European Union Office to Hong Kong and Macao, highlighted the active role of European businesses in the city’s green transition.

EU companies, he said, are already contributing in areas, including waste management, water desalination, and aircraft recycling, bringing investment and cutting-edge expertise to support Hong Kong’s sustainability goals.

"EU companies bring expertise and innovative solutions that are actively helping support Hong Kong’s green and digital transformation," Rouse said.

He added that as Hong Kong moves forward with the Northern Metropolis development, European firms stand ready to provide advanced know-how in sustainable urban planning, smart infrastructure, energy efficiency, mobility, and digital technology.

Edited by Aaron Tam ...