Hong Kong has set itself an ambitious decarbonisation agenda for the coming decades, with a target to achieve climate neutrality by the year 2050. The correspondingly named Climate Action Plan 2050 emphasises four key decarbonisation strategies in the areas of net-zero electricity generation, energy efficiency in the building sector, green transport, and waste reduction. Below, we take a look at recent developments in each of these areas and potentially emerging opportunities for specialised technology suppliers from Germany.

Internationally operating German companies were more positive about the future in spring 2023 than in autumn 2022, albeit with very subdued optimism. This is one of the key findings of the latest AHK World Business Outlook. The survey was conducted by the German Chamber of Commerce and Industry (DIHK) among 5,100 member companies of the German Chambers of Commerce Abroad (AHK).

Hong Kong is a global trading hub with a volume of 1.2 trillion USD. After a decline by 7.9% in 2022, Hong Kong’s foreign trade volume is projected to increase by 5% again in 2023 according to the Hong Kong Trade Development Council. The positive outlook is due to the normalisation of cross-border clearance procedures as well as strong growth forecasts for merchandise trade with the countries in ASEAN and the Middle East.

Airwallex is a global payments and financial platform for modern businesses. Airwallex removes the unnecessary friction and cost inherent in the traditional financial system to help entrepreneurs achieve their global ambitions.

amfori is the leading global business association for open and sustainable trade with over 40 years of experience and bringing together over 2,400 retailers, traders, brands and association from more than 40 countries.

Bureau Veritas is a global leader in testing, inspection, and certification services. Founded in 1828, the group has 72,000 employees in 1,400 offices and laboratories across 140 countries. Bureau Veritas’ Consumer Products Services division is a leading quality assurance provider for the global consumer product and retail markets.

In Greater China since 2008, FB Solution helps chefs and restaurant owners find the best bakery products. FB Solution has become in 15 years the leading importer and distributor of high-quality bakery and pastry products across Mainland China, Hong Kong, Macau and Taiwan.

At Heimat, German-born Chef Find pays homage to his heritage and presents modern versions of traditional dishes that will expand guests’ understanding and appreciation of his native cuisine. Heimat offers a culinary experience unlike any other in Hong Kong, and the opportunity to discover a fresh, exciting approach to German cuisine.

The Hong Kong Institute of Languages (HKIL) has a long-standing reputation as a leading language school since 1985, delivering language solutions to individuals, schools, and companies in Hong Kong.

Le Méridien Hong Kong, Cyberport, is a chic, modern lifestyle hotel providing an authentic and elevated discovery experience. Completely transformed in 2022, this Cyberport, Hong Kong hotel has a mid-century modern aesthetic, emphasising natural materials contrasted by darker, tactile design features, creating a fresh and welcoming ambiance.

The Li Ka Shing School of Professional and Continuing Education (LiPACE) is one of the seven constituent schools of Hong Kong Metropolitan University (HKMU) and an established provider of full-time post-secondary education and part-time professional and continuing education, as well as corporate training.

SoftNET is a telecommunication service provider with operations on three continents: Asia, Europe and Africa. From the very beginning, by delivering high-quality IP data lines, SoftNET has helped customers manage costs, simplify IT operations and make more effort in businesses connectivity.

Find all 2022-23 representative changes at a glance here.

Air conditioning in Hong Kong began in 1931, when King’s Theatre on Des Voeux Road Central became the city’s first ever air-conditioned venue. Four years later, the third-generation HSBC headquarters was opened as the first fully air-conditioned building in Hong Kong. However, it was not until the 1980s that air conditioners became more affordable to the average household and truly took the city by storm. As of today, 99% of Hong Kong households are air-conditioned.

While it has become part of the city’s DNA, Hong Kong’s air conditioning habit is heaving a significant impact on the city’s energy footprint: According to data from the Electrical and Mechanical Services Department, air conditioning was responsible for 31% of Hong Kong’s total electricity consumption in 2020, far ahead of other end-uses like lighting (10%), cooking (9%) and refrigeration (3%). Air conditioning accounted for 39% of the total electricity consumption in the residential sector and 28% in the commercial sector. During the summer months, some sources even estimate that up to 60% of Hong Kong’s energy consumption goes into air conditioning. To address the issue, several initiatives have been brought forward in recent years.

In 2021, Hong Kong International Airport became the first airport worldwide to install a predictive control system for its air conditioning. Co-developed by CLP, the Airport Authority, and the Hong Kong Observatory, the system uses machine learning as well as real-time data on weather conditions and flight schedules to regulate the temperature level in Terminal 1. The new system helps HKIA save an estimated 5.1 gigawatt-hours of electricity per year, equivalent to the annual energy consumption of 1,200 homes in Hong Kong. Meanwhile, around 80,000 households supported the “No Air Con Night” in 2022, an annual event organised by local NGO Green Sense to promote energy saving in Hong Kong.