Decarbonising Hong Kong Buildings - Policy Recommendations and Next Steps - EXECUTIVE SUMMARY

This is in line with the global trend of implementing driven and sustainable solutions to clients, continue making the UN sustainable development goals and the Paris meaningful contribution to the United Nations Sustainable Agreement. [...] Aligning Hong Kong with global best practice and adopting timelines for the introduction of new technologies, allowing the market time to adapt, will ensure that the minimum standard for Hong Kong’s buildings remains high enough to close the gap to net zero carbon in time. [...] Upgrade the Energy Audit Code (EAC) Expand the scope of the EAC to include all buildings under Schedule 1 of the Hong Kong Building Energy Efficiency Ordinance (BEEO), the same as the BEC. [...] Instead of the current ‘comply-or- explain’ requirements for environmental aspects under the ESG Guide, the operator of Hong Kong’s stock and futures markets (HKEX) can explore opportunities for the incorporation of ESG strategy and reporting into the Corporate Governance Code and consider making emissions disclosures mandatory for the building sector. [...] HKEX has aligned the environmental disclosures with the TCFD to cover the physical risks of climate change and the transition risk of decarbonisation.