Hong Kong and EU are natural partners on 2050 carbon neutral goal
the hottest on record , and extreme weather is becoming more frequent and more severe. Just last month, scientists
warned that we have only three years left to limit global warming to 1.5 degrees Celsius above pre-industrial levels as set by the Paris Agreement.
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This target has long been the pillar of climate efforts worldwide. Our planet is not waiting for us. The European Union and Hong Kong share this conviction: the world must change course, and quickly.
We have everything it takes to jointly move ahead on the green transition, not least our shared ambition of achieving
carbon neutrality by 2050 . Our ties are close, broad and deep. The EU is one of Hong Kong's major trading partners, with bilateral trade in goods and services amounting to HK$605 billion (US$77.1 billion) and EU investment in the city reaching HK$758 billion last year.
We are the largest
foreign business community in Hong Kong. For more than half of the roughly 1,600 EU companies based here, Hong Kong serves as their regional headquarters. EU citizens and companies contribute across nearly every sector of Hong Kong's economy and society – from finance, transport and logistics to retail, food and beverage, construction and engineering, as well as Hong Kong's excellent universities and its vibrant arts scene.
Many are actively involved in the local green transition, working in green finance, sustainable mobility, clean energy, green infrastructure and waste management. Accordingly, we are contributing not only to Hong Kong's prosperity and vibrancy but are also actively supporting Hong Kong's green transition.
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The EU has long been a world leader on climate action, sustainability and green growth. Importantly, we have busted a long-standing myth. Since 1990, we have reduced emissions by 37 per cent while growing our economy by 68 per cent. This is clear evidence that the green transformation is not a barrier to growth but rather a driver. Furthermore, we are on track to cut emissions by at least 55 per cent by 2030 and are aiming for a 90 per cent reduction by 2040.
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