Latest news with #WWF-HongKong
The Sun
28-05-2025
- 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.'
Associated Press
27-05-2025
- Business
- Associated Press
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. Hong Kong at Maritime Crossroads: New Studies Reveal Unprecedented Opportunity for Kickstarting the Blue Economy 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 – 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.' Hashtag: #ADMCapitalFoundation The issuer is solely responsible for the content of this announcement.
Associated Press
03-03-2025
- Science
- Associated Press
The new report ‘The State of Hong Kong Biodiversity 2025' reveals over 25% of species in Hong Kong are at risk of local extinction
HONG KONG SAR - Media OutReach Newswire - 3 March 2025 - WWF-Hong Kong, in association with the Hong Kong Bird Watching Society, Kadoorie Farm and Botanic Garden, Outdoor Wildlife Learning Hong Kong, and local researchers, have released a new report titled 'The State of Hong Kong Biodiversity 2025' today. This report is a comprehensive overview of the current state of Hong Kong biodiversity which evaluated the local extinction risk of hundreds of terrestrial and freshwater species, identified critical biodiversity hotspots, and offers science-based recommendations for guiding conservation decisions. Thanks to its complex topography, diverse habitats, and the extensive Country Park system, Hong Kong is home to an impressive range of biodiversity. However, as our protected areas are concentrated in hillsides and coastal wetlands, many of the most vulnerable species and habitat types lack adequate protection. Leveraging the expertise of 24 local ecologists and specialists, the study assessed the conservation status of 886 species across eight animal groups, including mammals, birds, reptiles, amphibians, freshwater fishes, butterflies, dragonflies and freshwater crustaceans. Alarmingly, the report reveals that 21 of the 886 assessed species have already disappeared from Hong Kong and over 25% (232 out of 886) are at risk of local extinction. Among the assessed fauna, birds and freshwater fishes are the most at risk groups, with almost half facing moderate to high risk of local extinction. Species dependent on lowland habitats, such as freshwater marsh, river, farmland and other open country habitats, are experiencing the most serious decline, necessitating urgent conservation intervention. Habitat loss and degradation, poaching and the spread of invasive species are major drivers for their decline. The report is accompanied by the Hong Kong Terrestrial Biodiversity Hotspot Map 2025, which highlights 27 critical biodiversity hotspots outside the protected-area system. These hotspots, which cover merely 6% of Hong Kong's land area, are home to about 95% of at-risk species. Yet, nearly 80% of the hotspots have suffered from eco-vandalism and nearly 50% overlap with planned/committed development. This underscores both the conservation significance of these areas and the need of immediate conservation efforts at these vulnerable hotspots to prevent further species decline or extinction. The report serves as a key reference for government officials, statutory bodies, researchers, environmental consultants, and conservationists, highlighting the areas requiring attention to improve relevant policies, laws and regulations, and to conduct research and projects. It also calls on public to engage in conservation efforts of at-risk species and biodiversity hotspots. An immediate, collective effort, and societal commitment are imperative to prevent these at-risk species from local extinction. Dr. Bosco Chan, Director, Conservation of WWF-Hong Kong said: 'Our aim in publishing this report and the biodiversity hotspot map is to inform strategic conservation actions, elicit interest in the conservation of overlooked fauna and their habitats, and help the Government to enhance relevant policies, laws and regulations. The findings of this report underscore the urgent need for collective actions to protect at-risk species and habitats, which are concentrated in the unprotected lowlands. We must make and invest in concrete plans to protect Hong Kong's most threatened biodiversity and wildlife habitats before it is too late.' Dr. Carmen Or, Manager, Wetlands Research of WWF-Hong Kong highlighted that: 'The last comprehensive species status assessment and biodiversity hotspot map for Hong Kong were produced over two decades ago. It is high time for us to reassess the state of biodiversity in Hong Kong to reflect changes in the environment and ensure our conservation actions align with species and habitats in the most urgent needs.' Mr. Yu Yat Tung, Director, The Hong Kong Bird Watching Society added that: 'Birds are among the most seriously threatened faunal groups in Hong Kong. The loss of lowland wetlands and farmland, along with habitat changes resulting from vegetation succession, significantly impacts both breeding and visiting birds, as illustrated by the habitats required by at-risk birds. Dr. Michael Lau, renowned herpetologist in Hong Kong shared that: 'Other than habitat loss, which impacts both reptiles and amphibians and has led to the extinction of Chinese Floating Frog, all native turtles are facing risk of local extinction, and poaching is the most serious threat to their survival.' Dr. Alphonse Tsang, Research Assistant Professor of Lingnan University stated that: 'With nearly half of the native freshwater fish species at risk of local extinction, threats such as channelisation and water pollution, and the invasion of non-native species must be tackled.' To access the hotspot map: High resolution photos are available at: Experts attending Experts attending Dr Bosco Chan, Director, Conservation of WWF-Hong Kong Dr. Carmen Or, Manager, Wetlands Research of WWF-Hong Kong Mr. Yu Yat Tung, Director, The Hong Kong Bird Watching Society Dr. Michael Lau, renowned herpetologist in Hong Kong Dr. Alphonse Tsang, Research Assistant Professor of Lingnan University Mr. Tommy Hui, Manager, Conservation of WWF-Hong Kong Mr. Jianhuan Yang, Conservation Manager, Kadoorie Farm and Botanic Garden Mr. Philip Lo, Senior Conservation Officer, Kadoorie Farm and Botanic Garden Dr. Ken So, Education and Research Manager, Outdoor Wildlife Learning Hong Kong Hashtag: #WWF The issuer is solely responsible for the content of this announcement. WWF-Hong Kong WWF is a leading global conservation organisation, with a network active in more than 100 countries. WWF's mission is to build a future in which humans live in harmony with nature. WWF-Hong Kong has been working since 1981 to deliver solutions for a living planet through conservation, footprint and education programmes, with the aim of transforming Hong Kong into Asia's most sustainable city.
