Throughout 2022, climate change had a dramatic impact on our planet and populations, from catastrophic floods in Pakistan to record-breaking droughts in South Asia. These are just a few examples of the climate impacts we are suffering at only 1.15°C above pre-industrial temperatures. However, as climate science clearly demonstrates, based on current policies, we are heading for much higher temperatures with a 2.8°C rise predicted by the end of the century. The worst is yet to come. While mitigation is crucial to limit further warming, ambitious and accelerated action is urgently needed to adapt to climate change impacts through a Race to Resilience. Published by Arup, in collaboration with Civic Exchange, the Institution of Civil Engineers Hong Kong, the Resilient Cities Network and the World Resources Institute, this paper seeks to honour scientific findings, formulate appropriate policies and strategies, and facilitate capacity building. It discusses key insights around resilience from various angles and includes the following: Highlights of the latest climate change insights, referring to the International Panel on Climate Change’s (IPCC) Synthesis Report for the Sixth Assessment Report. Elaborations on outcomes of COP27 (the 27th United Nations (UN) Climate Change Conference), convened in November 2022 in Egypt, and putting them in an Asian context. Summaries of expert presentations and discussions that were part of the Race to Resilience Asia event series hosted across the region in the run-up to COP27. Perspectives from various experts on the way forward, suggesting several approaches and frameworks to address climate change in the built environment. Useful resources containing additional information, insights and strategies. While the themes and context from related events, discussions and publications vary, one overall message is clear: both the challenges and solutions to achieving climate mitigation and adaptation lie within our cities. By bringing together diverse stakeholders to share experiences and approaches, as well as to identify the need to empower local and regional state and non-state actors, we can create more sustainable, resilient and liveable cities, both now and in the future.

An influx of capital aimed at curbing greenhouse gas (GHG) emissions has led to the creation of green taxonomies. It clarifies the eligibility of green activities and provide guidance for investment decisions. With various green taxonomies developed by both governmental and supra-governmental bodies, market participants express frustrations on the interoperability among these taxonomies. This technical report highlights the efforts of Green and Sustainable Finance Cross-Agency Steering Group’s (CASG) to adopt a taxonomy that aligns with the Common Ground Taxonomy (CGT). This technical report eagerly encourages Hong Kong to develop an ambitious and evidence-based sectoral transition (decarbonisation) pathway. A confined pathway can enhance comparability between companies’ transition commitments and benchmarking analysis for financial institutes to assess client’s performance. All facets of society must embark on accelerating taxonomical development unique to Hong Kong and jointly look forward to the shared vision of carbon neutrality by 2050. To expedite the taxonomy development in Hong Kong, this technical report recommends the following four points: 1. Integrate sector-specific greenhouse gas emission pathways 2. Shift discussion from technology application to sector CO2 emission pathway 3. Learn from the threshold set by the CGT aligned taxonomy 4. Establish an open-source energy data platform

This report aims to connect decarbonization solutions with necessary finance required to accelerate the net-zero transition in the GBA. It applies a top-down approach to predict macro pathways for the whole GBA, then applied bottom-up approach to analyse specific decarbonisation pathways and solutions for key energy consuming sectors --- manufacturing industries, road transport, and buildings, to highlight actions most needed to achieve the 30-60 goal, and more ambitious goals to peak emissions and achieve carbon neutrality earlier. Based on the above decarbonisation pathways, this report estimated how much investment will be needed and how to solve the challenges faced to ensure finance to help accelerate businesses to transition.

This paper responds to the GHG Protocol. public consultation. It recommends five amendments to the Protocol to enable Market Mechanisms which incentivise making Products with Net Zero carbon emissions. (See our ‘Carbon Added Cost’ and Carbon Net Zero Viability paper.) Net Zero Products (both goods and services) lead to Net Zero companies, and other Non-State Actors (NSAs), and hence to Global Net Zero.

Stopping Earth’s long-term equilibrium temperature increasing requires global Net Zero emissions. We propose two Market Mechanisms incentivising companies and Non-State Actors to: 1. Make their Products (Goods & Services) Net Zero. 2. Substantiate their plans for making all their operations Net Zero.

This report provides a feasibility analysis on Hong Kong’s decarbonisation of road transport and offers recommendations for the government, private sector, and civil society. The message is clear: we can only achieve net-zero in the transportation sector if government together with society takes collective action immediately.

Hong Kong can maintain energy security and work toward decarbonizing its economy by diversifying its regional power sector portfolio and scaling-up domestic renewables.

In order to keep world average temperatures within 1.5ºC of warming, the world must reach carbon neutrality by 2050. The analysis presented in this report demonstrates that Hong Kong can reduce its carbon emissions by 90% by 2050 by improving electricity generation, making buildings more energy-efficient and increasing the sustainability of mobility.

WRI and Civic Exchange collaborated with Energy Innovation LLC to develop the Hong Kong Energy Policy Simulator (EPS), an online scenario analysis tool, which aims to provide technical support for developing Hong Kong’s 2050 deep decarbonization strategy. This technical note describes the structure, input data sources, outputs, limitations, and future development, as well as the online interface, of the Hong Kong EPS.