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LettersHong Kong budget priorities must keep climate change needs in mind
- The government’s commitment of funds to climate change mitigation measures is welcome, but it is nowhere near what is needed to achieve Paris Agreement goals
- Projects, such as the Northern Metropolis and Lantau Tomorrow Vision, should not be rushed through without attention to their environmental impacts
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On February 23, Financial Secretary Paul Chan Mo-po announced the 2022-23 government budget. The budget includes several fiscal measures to respond to climate change.
Among them are an additional HK$200 million (US$25.6 million) funding for the Green Tech Fund, injecting an additional HK$1.5 billion into the EV‑charging at Home Subsidy Scheme, an allocation of about HK$8.4 billion to carry out improvements on the multi-district storm water drainage system to enhance flood protection capabilities, and continuing green bond issuance.
In addition, funds will be set aside in the next five years to carry out improvement work and management measures for 26 low-lying residential areas to respond to the threat of sea level rise.
CarbonCare InnoLab welcomes the government’s moves that respond to the demands of society and continue investing in dealing with climate change. The direction is correct and deserves support, but these measures are a drop in the ocean compared to the carbon reduction targets needed around the world.
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