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Opinion | How Hong Kong’s capital markets can push companies’ net-zero drive
- Amid growing global momentum, HKEX is taking the lead in Hong Kong with stricter environmental, social and corporate governance disclosure requirements – but guidance, education and help is also needed
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In a year when the world has focused on the Covid-19 economic recovery, the more significant challenge remains at large – creating a sustainable, long-term growth path for the world economy.
That’s the focus of the recent 6th climate change report by the Intergovernmental Panel on Climate Change, which charted fundamental long-term climate change trends and stressed the need for urgent action to prevent extreme global warming.
That report, cited by UN Secretary General Antonio Guterres as a “code red for humanity”, gave context to the COP26 Climate Change Conference in Glasgow, which many are calling a “pivotal moment for the planet”.
Progress at COP26 has been broadly encouraging: global leaders have signed measures to limit temperature rises, including reducing coal power financing, halting deforestation, and cutting methane emissions by 30 per cent by 2030.
These COP26 commitments add to growing political momentum around the globe.
China, South Korea and Japan – which account for around one-third of global emissions – have committed to reaching carbon neutrality by 2050 at the earliest or 2060 at the latest.
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