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The Sun
7 days ago
- Business
- The Sun
Hong Kong at Maritime Crossroads: New Studies Reveal Unprecedented Opportunity for Kickstarting the Blue Economy
HONG KONG SAR - Media OutReach Newswire – 27 May 2025 - In a rare convergence of economic and environmental expertise, three landmark studies released today by ADM Capital Foundation, HKUST and WWF-Hong Kong, presenting a transformative vision—Hong Kong can reinvent itself as Asia's premier blue economy hub. The reports—Port 1.0 to Port 2.0 (HKUST), Blue Finance for a Blue Economy (ADMCF), and Valuing the Invaluable Blue (WWF-Hong Kong)—all agree that the city has a unique opportunity in this moment, wherein: --> Global shipping reforms are creating openings for blue finance leadership --> Port redevelopment s can integrate ecological and economic value --> Marine ecosystems, long undervalued, are essential to regional prosperity and resilience Global shipping reforms – IMOs net zero emission and carbon pricing mandate will force fleet upgrades, fuel transitions and new financial risks. In parallel, the UN has announced an ambitious biodiversity framework to be achieved by 2030. Hong Kong, itself, is striving to re-assert itself as a maritime powerhouse. This alignment, the authors propose, creates an unprecedented opportunity to transform the city into Asia's sustainable blue economy leader. At the heart of this transformation lies 'Port 2.0' – a visionary reimagining of Hong Kong's waters as a multifunctional interface that connects sea, land, city, technology and people, and serve as platforms for innovation, environmental stewardship and civic life. 'What makes this moment truly extraordinary is how these elements intersect with Hong Kong's unique advantages. Our world-class financial ecosystem can mobilise the billions needed for maritime decarbonisation. Our strategic location positions us as the natural hub for green shipping business in Asia. And our existing port infrastructure provides the ideal testing ground for innovative solutions.' said Christine Loh, Chief Development Strategist, Institute for the Environment at HKUST and author of the paper 'From Port 1.0 to Port 2.0: Hong Kong's Next Leap to Evolving a Blue Economy Vision'. Hong Kong's status as the world's third-largest capital hub gives it unmatched potential to pioneer blue finance. As ADMCF's Blue Finance report highlights, instruments such as blue bonds can mobilise capital to facilitate port decarbonisation, sustainable aquaculture and marine eco-tourism—transforming the city into Asia's premier blue economy hub, aligning marine protection with economic prosperity. In 2023 there was a surge in blue bonds followed by continued growth in 2024, and Asia was the largest issuing region—led by China. 'If Hong Kong were to issue blue bonds, this would not only signal the city's commitment to improving its status as a leading international maritime hub but also accelerate the growth of blue finance, ensuring a future where economic prosperity and marine resilience go hand in hand,' said Kate Martin, the report's lead author and sustainable finance consultant with ADMCF. This untapped potential aligns with the groundbreaking research in Valuing the Invaluable Blue. The WWF-commissioned study by the Chinese Academy of Sciences has, for the first time, quantified the staggering monetary value of the Greater Bay Area's coastal ecosystems—revealing a Gross Ecosystem Product (GEP) worth RMB 4.9 trillion, equivalent to over 35% of the GBA's GDP, with 73% contributed by marine ecosystems. 'This valuation demonstrates our marine ecosystems' critical, yet often overlooked, economic contributions,' said Lydia Pang, Head of Oceans Conservation at WWF-Hong Kong. 'From climate regulation to disaster mitigation, these natural systems provide services worth over one-third of our regional GDP - services that should be factored into development decisions and anchor blue economy planning,' she said. 'What's more, our study shows that Hong Kong is uniquely positioned to adopt this ecosystem accounting framework. With strong data foundations, policy alignment, and technical readiness, we can localise and institutionalise marine GEP accounting to guide planning, investment, and conservation.' The authors' combined focus on a blue economy vision integrates port development with marine conservation, biodiversity, climate resilience, recreation and the responsible use of ocean resources. It builds on China's decades of marine policy leadership, where comprehensive frameworks - from ocean GEP systems to blue finance instruments - have laid the foundation for sustainable maritime development. 'The window to developing a sustainable blue economy and to establish ourselves as the global leader in sustainable maritime commerce is open now, but won't remain so indefinitely.' Said Sophie le Clue, CEO at ADMCF. 'The question isn't whether we can seize this opportunity, but whether we will.'
The Sun
27-05-2025
- Business
- The Sun
APO concludes 67th Governing Body Meeting in Jakarta with new leadership, strategic roadmap
KUALA LUMPUR: The Asian Productivity Organization (APO) concluded its 67th Governing Body Meeting (GBM) in Jakarta on a high note, setting the course for the organisation's future through key leadership changes and strategic discussions. The annual meeting, hosted by the Government of the Republic of Indonesia from May 20 to 22, brought together over 50 delegates from member countries to chart the APO's direction amid shifting global productivity trends. The 67th GBM saw numerous important leadership transitions. APO Director for India Amardeep Singh Bhatia was elected Chair for 2025–26, taking over from APO Director for Fiji Jone Maritino Nemani, while APO Director for Indonesia Agung Nur Rohmad and APO Director for the Islamic Republic of Iran Dr Mohammad Saleh Owlia were also appointed as First and Second Vice Chairs, respectively. According to a statement, the Governing Body also re-elected Dr Indra Pradana Singawinata of Indonesia for a second term as Secretary-General from September 2025 to 2028, reflecting strong support for his leadership. Opening the session, Chair Bhatia underscored India's dedication to the APO's vision of inclusive and sustainable productivity and highlighted the progress made on developing the Green Productivity (GP) 2.0 ecosystem. His remarks emphasised India's role in strengthening institutional efficiency and innovation-driven collaboration across the region. The meeting was inaugurated by Indonesia's Minister of Manpower, Professor Yassierli, who stressed the need for collective action in response to economic uncertainty, technological change, and sustainability challenges. He praised the APO's role in fostering solidarity through shared solutions and region-specific initiatives like GP. Delegates deliberated on several key priorities, including the post-2025 vision framework, reforms to the membership contribution formula, and strengthening of the APO Secretariat's digital systems. The meeting also reviewed governance improvements based on third-party assessments, reaffirming the APO's commitment to transparency and accountability. Milestones announced included the accreditation of the Development Academy of the Philippines to operate the Productivity Specialist certification scheme and the expansion of Indonesia's national certification body. These developments mark progress in building a regional workforce aligned with productivity standards. The GBM also welcomed observers from the United Nations Industrial Development Organization and the Republic of Uzbekistan, signalling the APO's growing engagement with international and nonmember stakeholders. The session concluded with a celebratory announcement from Chair Bhatia confirming that India will host the 68th Governing Body Meeting in 2026, continuing its leadership in regional productivity advancement.
The Sun
27-05-2025
- Business
- The Sun
APO ends 67th meet in Jakarta with new leaders, roadmap
KUALA LUMPUR: The Asian Productivity Organization (APO) concluded its 67th Governing Body Meeting (GBM) in Jakarta on a high note, setting the course for the organisation's future through key leadership changes and strategic discussions. The annual meeting, hosted by the Government of the Republic of Indonesia from May 20 to 22, brought together over 50 delegates from member countries to chart the APO's direction amid shifting global productivity trends. The 67th GBM saw numerous important leadership transitions. APO Director for India Amardeep Singh Bhatia was elected Chair for 2025–26, taking over from APO Director for Fiji Jone Maritino Nemani, while APO Director for Indonesia Agung Nur Rohmad and APO Director for the Islamic Republic of Iran Dr Mohammad Saleh Owlia were also appointed as First and Second Vice Chairs, respectively. According to a statement, the Governing Body also re-elected Dr Indra Pradana Singawinata of Indonesia for a second term as Secretary-General from September 2025 to 2028, reflecting strong support for his leadership. Opening the session, Chair Bhatia underscored India's dedication to the APO's vision of inclusive and sustainable productivity and highlighted the progress made on developing the Green Productivity (GP) 2.0 ecosystem. His remarks emphasised India's role in strengthening institutional efficiency and innovation-driven collaboration across the region. The meeting was inaugurated by Indonesia's Minister of Manpower, Professor Yassierli, who stressed the need for collective action in response to economic uncertainty, technological change, and sustainability challenges. He praised the APO's role in fostering solidarity through shared solutions and region-specific initiatives like GP. Delegates deliberated on several key priorities, including the post-2025 vision framework, reforms to the membership contribution formula, and strengthening of the APO Secretariat's digital systems. The meeting also reviewed governance improvements based on third-party assessments, reaffirming the APO's commitment to transparency and accountability. Milestones announced included the accreditation of the Development Academy of the Philippines to operate the Productivity Specialist certification scheme and the expansion of Indonesia's national certification body. These developments mark progress in building a regional workforce aligned with productivity standards. The GBM also welcomed observers from the United Nations Industrial Development Organization and the Republic of Uzbekistan, signalling the APO's growing engagement with international and nonmember stakeholders. The session concluded with a celebratory announcement from Chair Bhatia confirming that India will host the 68th Governing Body Meeting in 2026, continuing its leadership in regional productivity advancement.
Business Upturn
26-05-2025
- Business
- Business Upturn
67th Session of the APO Governing Body in Indonesia Sets Strategic Direction for a Unified Productivity Vision
Jakarta, Indonesia: The Asian Productivity Organization (APO) convened the 67th Session of the Governing Body (GBM), 20–22 May 2025 in Jakarta, hosted by the Government of the Republic of Indonesia. This annual session brought together over 50 delegates representing APO member governments to discuss the APO's strategic direction and ensure the organization's continued credibility, effectiveness, and relevance amid a rapidly evolving productivity landscape. This press release features multimedia. View the full release here: Heads of delegations and the Minister of Manpower of the Republic of Indonesia (center, seated) at the 67th GBM. The 67th GBM saw numerous important leadership transitions. APO Director for India Amardeep Singh Bhatia took on the position of APO Chair for 2025–26, taking over from APO Director for Fiji Jone Maritino Nemani. APO Director for Indonesia Agung Nur Rohmad and APO Director for the Islamic Republic of Iran Dr. Mohammad Saleh Owlia were also appointed as First and Second Vice Chairs, respectively. The Governing Body expressed its continued confidence in the forward-looking leadership of incumbent Secretary-General Dr. Indra Pradana Singawinata, nominated by the Government of Indonesia, by electing him for a second term as Secretary-General from September 2025 to September 2028. In his opening statement, APO Chair Bhatia emphasized India's commitment to the APO's vision of inclusive, innovation-led, sustainable productivity growth in the Asia-Pacific region as a founding member of the APO. He also reaffirmed India's dedication to enhancing the institutional efficiency and strategic alignment of the APO through its chairmanship and praised the significant progress made on the development of the Green Productivity (GP) 2.0 ecosystem. The inaugural session of the GBM was graced by H.E. Minister of Manpower of the Republic of Indonesia Professor Yassierli. In his inaugural speech, Minister Professor Yassierli underscored the urgency of responding collectively to a rapidly changing global landscape marked by economic uncertainty, technological disruption, and mounting sustainability pressures. Under such conditions, productivity should not be treated as competition among nations but rather as a shared journey rooted in mutual respect, shared knowledge, and solidarity. Professor Yassierli noted the APO's crucial role in facilitating solidarity among its members by serving as a platform for practical cooperation through locally relevant and globally informed solutions such as GP. The 67th GBM featured in-depth deliberations on several strategic priorities to guide the APO's trajectory in the coming years. Central among these were the deliberations on the APO post-2025 vision framework, which will set the foundation for the APO's activities beyond 2025. The development of the GP 2.0 ecosystem was also discussed, and the Governing Body welcomed the recommendations from the Green Productivity Advisory Council Annual Meeting, which convened in Osaka, Japan, from 14 to 15 April 2025. Other key topics included the proposed revisions to the membership contribution formula based on the task force's recommendations to ensure fairness and sustainability in APO financing. Strategies to strengthen the Secretariat's digital capabilities through improved systems and expanded access to APO services were also discussed. The GBM also reviewed the progress made in implementing remediation actions based on the independent third-party assessment, reaffirming the APO's commitment to good governance, transparency, and institutional effectiveness. Additional milestones were the accreditation of the Development Academy of the Philippines Certification Body to operate the Productivity Specialist scheme and the expansion of Indonesia's national certification body scope. The GBM also welcomed observers from the United Nations Industrial Development Organization and the Ministry of Economy and Finance of the Republic of Uzbekistan, signaling the APO's growing engagement with nonmembers and international organizations operating in the Asia-Pacific region. The highly successful 67th GBM was concluded on a celebratory note as the Governing Body warmly welcomed APO Chair Bhatia's announcement of India's readiness to host the 68th GBM in 2026. About the APO The APO is an intergovernmental organization dedicated to improving productivity and socioeconomic development in the Asia-Pacific region through policy advisory services, capacity-building initiatives, knowledge sharing, and cooperation. It is nonpolitical, nonprofit, and nondiscriminatory. Established in 1961 with eight founding members, the APO currently comprises 21 member economies. View source version on Disclaimer: The above press release comes to you under an arrangement with Business Wire. Business Upturn takes no editorial responsibility for the same.
Indian Express
22-05-2025
- Business
- Indian Express
PMC to construct new water treatment plan at Vadgaon Budruk under AMRUT 2.0 to meet increased demand
To cater to the increasing demand for treated water in Pune city, which is witnessing rapid urbanisation, the civic body will construct a new water treatment plant at Vadgaon Budruk under the AMRUT (Atal Mission for Rejuvenation and Urban Transformation ) 2.0 programme. 'The Union government has approved the proposed 125-MLD water treatment plant of the Pune Municipal Corporation at Vadgaon Budruk. The project will be funded by the Union government under the AMRUT 2.0 programme,' said Nandkishor Jagtap, in charge of the PMC's water supply department. The project is estimated to cost Rs 188 crore. Jagtap said the PMC also wanted to construct a water treatment plant at Khadakwasla to meet the demand in villages that were added to the civic body's limits recently. Incidentally, a few of these villages were provided untreated water from the dam, resulting in the spread of Guillain-Barré syndrome (GBS) in parts of Pune city later this year. 'The land for the water treatment plant was available at Vadgaon Budruk, so a proposal was sent to the Union government for including it in AMRUT 2.0, which has been done now,' said Jagtap. As per the equitable water supply plan, the old part of Pune city has been divided into five parts, considering the capacity of the water treatment plants (WTP) and the potential population they will serve in 2047. These five parts are Parvati WTP, Bhama Askhed WTP, Warje and Holkar WTP, Lashkar WTP, and Vadgaon WTP. At present in Vadgaon, there are two water treatment plants with a total capacity of 250 MLD, catering to the needs of some parts of the proposed 32 zones and five newly added villages–Yewalieadi, Ambegaon Budruk, Ambegaon Khurd, Dhayari and Undri. The newly merged villages have increased the overall water demand in the city. The Parvati water treatment plant caters to six of the 33 zones. It has completed 53 years of service. As per central government guidelines for 24×7 projects, the service life of a water treatment plant is 30 years. There is also a large amount of leakage in the Parvati plant. 'The new WTP at Vadgaon will enable handling increased water needs and meet the requirements if the Parvati WTP's operation is scaled down. The total raw water available at Vadgaon will be 125 MLD out of 380 MLD. The remaining 255 MLD will be treated at the Parvati WTP,' said a civic officer of the water supply department. The PMC will demolish the pump house in Vadgaon, which is 17 years old and has been unused for a long time. It has insufficient pumping capacity and a dilapidated and sinking sump well with heavy leakages. Thus, the civic body will construct a raw water pumping station, raw water rising main pipe system, water treatment plant, pure water pumping station, and a pure water pumping main pipe system. Ajay Jadhav is an Assistant Editor with The Indian Express, Pune. He writes on Infrastructure, Politics, Civic issues, Sustainable Development and related stuff. He is a trekker and a sports enthusiast. Ajay has written research articles on the Conservancy staff that created a nationwide impact in framing policy to improve the condition of workers handling waste. Ajay has been consistently writing on politics and infrastructure. He brought to light the lack of basic infrastructure of school and hospital in the hometown of Maharashtra Chief Minister Eknath Shinde even as two private helipads were developed by the leader who mostly commutes from Mumbai to Satara in helicopter. Ajay has been reporting on sustainable development initiatives that protects the environment while ensuring infrastructure development. ... Read More
