Climate change: Budget, stakeholder engagement are ‘main challenges for Hong Kong firms’

The availability of financial support and engagement with stakeholders are the top decarbonisation challenges faced by Hong Kong firms even as they report substantial reductions in harmful emissions, according to signatories to the Business Environment Council’s net-zero carbon charter.

The main barriers identified by signatories to the business group’s initiative to decarbonise the sector were the availability of a dedicated budget for emissions reduction activities, energy efficiency and low-carbon product research and development, as well as engagement with employees and tenants, according to key findings from a progress report for 2023 released on Thursday.