Current Challenges in Hong Kong’s Green Journey
Hong Kong is striving to achieve its ambitious carbon neutrality goal by 2050, but the city faces significant challenges due to its high demand for electricity, primarily sourced from fossil fuels. Despite measures promoting electric cars and increased recycling, less than 1 percent of Hong Kong’s electricity currently comes from renewable sources.
Shifting Power Sources for a Greener Tomorrow
The city’s power generation relies on three key sources: 48 percent natural gas, 25 percent coal, and nuclear energy. To align with environmental objectives, Hong Kong plans to phase out coal by 2035, replacing it with imported natural gas. A new offshore liquefied natural gas terminal aims to diversify energy sources and reduce carbon emissions.
Embracing Renewable Energy for a Sustainable Future
Experts emphasize the need for Hong Kong to embrace renewable energy on a larger scale. While the city lags behind in renewable energy usage, mainland China’s abundant solar and wind resources offer a potential solution. Strengthening power facilities and connectivity between Hong Kong and mainland grids is crucial for importing more green energy.
Innovative Solutions and Green Initiatives
To increase renewable energy usage, Hong Kong explores the potential of hydrogen and invests in technology like the photocatalytic system for hydrogen production. Local companies are actively exploring hydrogen production methods, aiming for green hydrogen to support the transition to cleaner electricity.
Financial Sector’s Role in Green Transition
Hong Kong’s financial sector can contribute significantly to the Greater Bay Area’s green agenda. While integration into the mainland’s carbon trading market may pose challenges, experts suggest that Hong Kong’s financial prowess could be leveraged to fund green energy projects, turning green energy ideas into reality.
In conclusion, Hong Kong’s journey toward carbon neutrality involves a strategic shift in power sources, increased reliance on renewable energy, and leveraging the financial sector to support green initiatives. The city’s commitment to these measures demonstrates its dedication to a sustainable and eco-friendly future.
Source: chinadaily.com.cn
