20 hours ago
- Business
- South China Morning Post
EU biodiesel tariffs offer Hong Kong a chance to boost adoption of green fuel
The European Union's (EU) tariffs on biodiesel and renewable diesel from China present Hong Kong with an opportunity to promote the use of low-carbon fuels, according to a business group, which called for more measures to support its adoption.
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A dearth of financial
incentives and infrastructure has also resulted in limited use by the public and private sector to meet climate goals, according to the Business Environment Council (BEC).
'The EU's anti-dumping tariffs have forced Chinese producers to adapt their business models, including exporting to nearby regions,' the BEC said in a May 29 report. 'Strategic collaborations could support Hong Kong to [adopt] biofuels.'
Hong Kong's biodiesel consumption amounted to 7.5 per cent of the city's annual production of 100,000 tonnes, with the rest exported, according to the BEC. Backed by more than 320 companies, the council provides advisory, research and training on environmental protection and climate mitigation.
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Japanese train runs on ramen oil
Japanese train runs on ramen oil
The EU last August imposed anti-dumping duties on Chinese biofuel, citing the need to protect almost 6,000 jobs in 19 member states from 'unfair competition'. The final levies in February ranged from 10 to 35.6 per cent.
