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Hong Kong Summit reveals China's Clean Revolution flourishing despite global crisis

10 November 2011
Hong Kong Summit reveals China's Clean Revolution flourishing despite global crisis

HONG KONG: On November 7, 2011, senior policy and business leaders from across the world gathered in Hong Kong for the Business Summit on Climate Leadership, to identify ways of capitalizing the low carbon business opportunities in the region. The Summit was organized by The Climate Group with HSBC as the Convening Partner and CLP as the Summit Sponsor.

Opening the set of pivotal talks was Mark Kenber, CEO, The Climate Group, who stressed the importance of businesses and governments to drive change in the absence of a global agreement on climate change, setting the context to welcome the high-level guests to the stage. 

Professor Shi Dinghuan, Counsellor of the State Council and Former Secretary-General of Ministry of Science and Technology, The People’s Republic of China, highlighted the significance of low carbon growth as a major focus of the country’s economic development. He saw the need for fresh roadmaps at this 'important juncture', towards achieving sustainable future growth.

The Counsellor highlighted China as one of the most active countries regarding financial investments in clean energy technology. He pointed out that there are always new technology advances during times of global crises, and that the Summit is an ideal platform for international collaboration on technology development and low carbon investment.  

Anita Fung, Group General Manager and Chief Executive Officer, Hong Kong, The Hong Kong and Shanghai Banking Corporation Limited, followed with clear evidence of the flourishing Clean Revolution pulled from HSBC research, including the fact that the global climate economy achieved a record high of almost US$576 billion in 2010.

Anita asserted that these impressive figures are even outpacing emerging markets like Brazil and Russia, and said: ‘Results [of the low carbon economy development] at individual country level are astonishing.’ She mentioned China and India as the 2nd and 4th largest markets fuelling this rapid growth, with China already generating US$12.3 billion revenue and boasting a year on year growth over 30%. Anita estimated that low carbon industries will contribute to 15% of the country’s GDP by 2020, and saw the role of the banking sector as an essential component to factor China’s rise as a green industry leader.

Mark Kenber and Changhua Wu, Greater China Director, The Climate Group wrapped up the Opening Session by calling for leaders to trigger radical change to tackle the big challenges and even bigger opportunities, framing Changhua’s statement of growth without parallel in human history, with the luxuriously imagined future that we could all have with 100% clean energy.

Changhua then announced the release of the 4th China’s Clean Revolution Report: Financing China’s Low Carbon Growth, which provides a comprehensive review of China's strategy to finance its low carbon economy.

Subsequent Plenary Sessions on the day entitled ‘Making it Real from Green to Clean: Business in the Clean Revolution’, ‘Making Way for Cleantech Development’ and ‘Raising the Capital: Financing a Clean Industrial Revolution’, saw high-profile speakers including Chris Brooke, President and CEO, China and Executive Managing Director, Consulting, Asia Pacific, CBRE; Nancy Keith Kelly, Director, Stakeholder Engagement, HP Environmental Sustainability, Hewlett-Packard Company; Katarina Pelin, Environment Director, City of Malmo (Sweden); Dr Charleston Sin, Managing Director, Borderless Networks and Data Center Virtualization, Greater China, Cisco; Andrew Brandler, CEO, CLP Holdings Limited and J B Rae-Smith, Executive Director of Trading and Industrial Division, Swire Pacific, continue discussing the pivotal themes introduced during the day, under moderation from Isabel Hilton, Editor, chinadialogue.

Dr Jiang Kejun, Research Professor, Energy System Analysis Division, Energy Research Institute, National Development and Reform Commission, The People’s Republic of China, made an address at the luncheon on China’s 12th Five-Year-Plan, its low carbon strategies and the need for investment and SME participation to bring along the change.

Teresa AU, Head of Corporate Sustainability Asia Pacific Region, The Hongkong and Shanghai Banking Corporation Limited, joined Mark Kenber and Changhua Wu at the Closing Session of the Summit, during which Teresa pointed out the three most important elements for a greener future being government policy, technology advancement and continuous collaboration of public and private sectors.

The Summit was attended by over 190 delegates from business, government, academic, NGO and media sectors, showing the world's most influential leaders taking an ever-increasing role in driving the Clean Revolution.

See video interview with Mark Kenber on CleanBizAsia

Watch a video of the event

Read the preview of China's Clean Revolution

More on the Business Summit on Climate Leadership

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