Hong Kong, 26 August 2024 – The maritime industry accounts for approximately 3% of global greenhouse gas emissions. The HKSAR Government has set a goal to achieve carbon neutrality in the maritime industry by around 2050, which aligns with the target set by the International Maritime Organisation. Initiatives have been taken to encourage the use of environmentally friendly fuels, other than conventional petroleum fuels, in Hong Kong waters. In addition to this, there is increasing attention drawn on the potentials of electrification of local vessels to reduce carbon emissions.

On 30 July 2024, William Chan, Founding Officer of ACI, participated in the panel discussion of the seminar on local vessels decarbonisation organised by the Hong Kong University of Science and Technology’s Institute for the Environment. During the event, he introduced the work of ACI and revealed how green finance, including the use of carbon credits, can contribute to the decarbonisation and low-carbon transformation of the maritime industry in Hong Kong.