Hong Kong aims for net zero shipping emissions by 2050 through green fuel initiative

Hong Kong has unveiled a plan to promote green fueling, part of a campaign to raise the city’s status as an international maritime hub.

According to the action plan announced on Friday, Hong Kong Port will reduce total annual carbon emissions from international shipping by at least 20 percent by 2030, compared to 2008, and by 70 percent by 2040. It will strive to achieve net-zero carbon emissions from international shipping by 2050.

To achieve these goals, Hong Kong will establish an incentive program to encourage companies starting green fueling business, subsidize the green transformation of ships and train talents in the field.

“Hong Kong needs to accelerate the development of green marine fueling to timely meet market demands, thereby strengthening its role as a fueling port and enhancing its competitiveness as an international shipping hub,” said Lam Sai- hung, Secretary of Transport and Logistics. .

Hong Kong Chief Executive John Lee Ka-chiu said in his 2023 policy speech that the city would aim to become a global green maritime fueling hub.