Hong Kong SAR’s Economy in the Face of Climate Change: Risks and Prospects
Selected Issues Papers, May 6, 2025
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Bibliographic details
- Authors: Fozan Fareed
- Published: May 6, 2025
- Series: Selected Issues Papers
- DOI: https://doi.org/10.5089/9798229009676.018
Climate challenges and projections
- Hong Kong SAR is facing ongoing challenges from climate change, with projections indicating that these issues will remain prevalent or even intensify in the future.
- There is a concerted effort to bolster infrastructure and community resilience against natural disasters.
Climate Action Plan 2050: strategy and targets
- Hong Kong SAR has embraced a comprehensive three-pronged climate strategy—the Climate Action Plan 2050—that focuses on mitigation, adaptation, and building resilience.
- Targets:
- Reducing carbon emissions by 50 percent before 2035.
- Achieving carbon neutrality before 2050.
Progress to date and remaining priorities
- Significant strides have been made towards decarbonizing the economy and building resilience in the last few years.
- Sustained action is pivotal to reach carbon neutrality, including:
- Reducing emissions in hard-to-abate sectors.
- Improving energy efficiency across industries.
- It is crucial to continue strengthening resilience against extreme weather events.
Systemic risk integration and finance
- Further integrate climate into systemic risk analysis.
- Foster a green finance ecosystem to support decarbonization and resilience-building efforts.
Source: Hong Kong SAR’s Economy in the Face of Climate Change: Risks and Prospects, Selected Issues Paper No. 2025/051 (2025), DOI: https://doi.org/10.5089/9798229009676.018.
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