Hong Kong, 17 JUNE 2024 – Net-zero investment and innovation platform Carbonless and Hong Kong Science and Technology Parks Corporation (HKSTP) have joined forces with a group of sustainability visionaries and pioneers including the city’s property and construction sector to help the city achieve its 2050 net-zero goals. The six-month long Hong Kong Green Tech Challenge – Green Building Edition kicked off with the closed-door Hong Kong Green Tech Roundtable, led by corporate partners committed to
decarbonising a number of their prioritised property assets.

The group of green pioneers includes Colliers, Goodman, The Hong Kong University of Science and Technology (HKUST), New World Development, NWS Holdings, Swire Pacific, Veolia and Yau Lee, who will be matched with leading technology ventures from around the world. The resulting collaborations will address specific sustainability goals across selected real estate sites and developments in Hong Kong. A dozen or more commercial and residential sites valued at billions of Hong Kong dollars are currently being evaluated for Green Tech pilot projects that will contribute to decarbonisation goals for the partner companies as well as for the city overall. The sector has been a priority under Hong Kong’s Climate Action Plan 2050 with the city’s buildings consuming more than 90% of the city’s electricity.

The targeted sites include hotels, retail, commercial, residential, warehousing and mixed-use developments, with over 10 buildings and construction sites already confirmed to participate in the Hong Kong Green Tech Challenge – Green Building Edition.

These priority projects will serve as test beds for a select number of global technology ventures that will go through a stringent vetting process in the coming summer months. The Challenge is now inviting companies to join this process. Up to eight innovative ventures will have a chance to travel to Hong Kong, engage with partners and win contracts and investments. The select companies will also be invited to set up business in Hong Kong and become part of the city’s growing Green Tech eco-system.

This landmark collaboration signals a genuine and rare unified effort from across the whole property landscape – a traditionally highly competitive sector – to drive progress in improving sustainability in the real estate industry and for Hong Kong.

“Carbonless, HKSTP and all our partners have been brought together by the desire to shift gears in Hong Kong with the Green Tech Challenge – this is a mission to identify real projects and real commitments to decarbonise. We have invited the whole industry to join us, but the criteria and the bar to join have been set high. Our mojo is to go beyond talk and drive real action, and the response from the Hong Kong real estate industry so far has been truly encouraging. To see the intention and the spirit across serious industry players and our strategic partners is an exciting moment for the property sector and Hong Kong,” said Tony Á. Verb, Founding Partner, Carbonless.

“Hong Kong is fast emerging as a leader and a first-mover in green tech and green finance innovation. HKSTP fully supports Hong Kong’s Climate Action Plan 2050 Carbon Neutrality target, with a goal to achieve the Net-Zero Standard through the Science Based Targets initiative (SBTi) by 2045. SBTi net zero commitment is an exciting milestone in our decarbonization roadmap, the Green Tech Challenge uncovers cutting-edge solutions that can accelerate decarbonisation and promote environmental protection across various industries. We will continue to join hands with our park companies and partners in building a vibrant green tech ecosystem and driving a sustainable future,” said Albert Wong, CEO of HKSTP.

“I’m excited to participate in The Hong Kong Green Teach Challenge to help identify carbon efficient technologies from the U.S. and around the world, and help push the envelope of what’s possible to accelerate climate mitigation from the built environment. ” commented David Gottfried, Founder, World Green Building Council.

The Hong Kong Green Tech Challenge has driven a new scope and scale of collaboration across the real estate sector, while attracting a host of like-minded climate champions from across the spectrum that include: 10 Design, Business Environment Council, deploy, Edelman, IXO Partners, Marsh, OCBC, Schneider Electric and Sustainable Finance Initiative with the support of InvestHK as well. More partners and discussions are welcome by the organising team.

Find out more here: https://hkchallenge.carbonless.asia/

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About Carbonless

Carbonless is a rapidly growing innovation and investment platform with the mission to mobilise and channel as much smart investment into scalable, successful technology companies and decarbonising projects as possible. We bring together capital, mature technologies, investable opportunities, market leading enterprises and government entities to contribute to the low carbon economic and industrial transition.

Carbonless brings a wealth of decarbonisation expertise having worked on similar projects in South East Asia and the Middle East, working with the likes of EY, Microsoft, PWC, the Abu Dhabi Investment Office, and the Singapore Government along the way. Carbonless and HKSTP are united in their effort to engage, work with and invest in the best of green tech companies globally and help achieve Hong Kong’s net-zero milestones laid out in the Climate Action Plan 2050.

Media Contact: 

Deborah Wai 

Innovation Program Manager, Carbonless Asia

Contact no.: +852 9662 7692

Email: deborah@carbonless.asia

Zeerak Khurram

Assistant Executive, Edelman

Contact no.: +852 2837 4735

Email: zeerak.khurram@edelman.com