Re ECF Project: 2013-13

Project Title: City carbon portal conference 2: “Policy and technology integration”

Applicant: Mr. Kalmond MA (replaced by Ms Changhua WU w.e.f. 4 February 2014), The Climate Group (Hong Kong) Limited

Total Approved Grant: $323,500

Duration: 10/2/2014 to 9/8/2014 Conference date on 3/4/2014.

Project Status/Remarks: Completed

Scope:
The conference aims to highlight Hong Kong’s low-carbon leadership by providing the learning and partnership opportunities for Hong Kong to identify new strategies, leverage existing initiatives and reach consensus with stakeholders to deliver green growth solutions and accelerate desired low-carbon outcomes.

Summary of the Findings/Outcomes:
The City Carbon Portal, Conference 2 brought together policy, technical, and investment perspectives on how cities can manage their climate change impacts by reducing GHG emissions. The presentations and discussions focused on how to better link the necessary policies with available technologies to achieve the massive levels of emission reduction required. Hong Kong government representatives and professionals shared their local efforts to make Hong Kong a low carbon city while also learning about innovative strategies from other cities in the region, including carbon cap-and-trade markets. Key issues raised during the conference were:

  • China’s GHG emissions may peak between 2015-2018 due to pollution policies and economic factors alone. A carbon tax will likely be deployed in parallel with city and national emission trading systems to cover more emissions, particularly from transport.
  • City carbon markets in China are different from each other in design and operation, therefore a linking of city cap-and-trade systems is unlikely in the near term. However they will support national renewable energy development through the purchase of CCERs, and financial instituttions are beginning to accept carbon credits being traded on the Guangzhou exchange platform as guarantees, which provides an indirect financing channel for CCER projects.