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3.42.   Green initiatives improve the living environment for residents and make HKC a coveted destination for enterprises and talents. The Government would strive to achieve carbon neutrality before 2050. By harnessing technological innovation, finance, commerce and manpower, development of green economy can also drive economic transformation and sustainable development, generate demand and create strong impetus for growth. As a leader and a first-mover in green finance and innovation, HKC has the edge to establish itself as an international green technology and financial centre.

3.43.   The Government has set up a Green Tech Fund to provide better and more focused funding support for research and development projects that can help HKC decarbonize and enhance environmental protection. HKD 400 million (USD 51 million) has been allocated to the Fund.(...)

3.44.   The Green Technology and Finance Development Committee was established in June 2023, gathering leaders from finance, technology, academic, professional services sectors, etc., as well as representatives from the Government, financial regulators and public organizations, to assist in the formulation of an action agenda for promoting the development of HKC into an international green technology and financial centre. The Government also plans to organize an International GreenTech Week at the end of 2023 to bring together representatives, enterprises and investors from the green technology industries around the world.

3.45.   To increase development capacity, the Government will continue to take forward infrastructural developments, including the Northern Metropolis which will emerge as a "new international I&T city" that integrates quality life, new economies, and culture and leisure to promote home‑job balance, green living and achieve the co‑existence of development and conservation. (...) In order to meet the housing and other community needs and support the sustainable development of HKC in the medium to long-term, the Government is now taking forward the development of Kau Yi Chau (KYC), which will form 1,000 hectares of land by reclamation. (...) The development of KYC will adopt a Smart, Green and Resilient city strategy to ensure that the development on the islands could, in the long-term, adapt to climate change and facilitate HKC to achieve the carbon neutrality target before 2050.

4.2.   (...) Mainland China (...) is a vital engine for sustainable growth for the global economy. HKC is committed to making use of its unique advantages under "One Country, Two Systems" and its strategic location of being closely connected to Mainland China and the rest of the world to drive further development.(...)

4.18.   (...) As digitalization of the bond market gathers pace, the Government issued tokenized green bonds leveraging the blockchain technology in February 2023 to demonstrate the feasibility of HKC's platform and encourage industry take-up. (...)

4.19.   (...) The Government has established the Task Force on Promoting Web3 Development to provide recommendations on the sustainable and responsible development of Web3 in HKC.

4.20.   HKC takes a multi-pronged strategy to promote green and sustainable finance. As at early May 2023, the Government has successfully issued since May 2019 Government green bonds totalling close to USD 16 billion equivalent, including retail green bonds. The Government issued tokenized green bonds leveraging the blockchain technology in February 2023. The Government also launched the Green and Sustainable Finance Grant Scheme in 2021 to provide subsidy for eligible bond issuers and loan borrowers to cover their expenses on bond issuance and external review services, and the Pilot Green and Sustainable Finance Capacity Building Support Scheme in December 2022 to encourage local eligible practitioners and related professionals as well as students and graduates of relevant discipline to participate in training related to green and sustainable finance. The Hong Kong Exchanges and Clearing Limited launched an international carbon marketplace Core Climate in October 2022, which is currently the only carbon marketplace that offers HKD and RMB settlement for the trading of international voluntary carbon credits.

4.31.   (...) The Government is working closely with the logistics industry as well as the Hong Kong Logistics Development Council to map out development strategies along the direction of enhancing intermodal operation within the Greater Bay Area, promoting the development of high-end and high value-added logistics services as well as encouraging a wider application of smart logistics solutions, so as to create an environment conducive to the sustainable and healthy development of the industry for accelerating the development of HKC as a modern logistics hub.

4.59.   (...) The HKDC[the Hong Kong Design Centre] also seeks to educate the professions and the community to be resourceful champions for sustainable development through design and innovation. (...)