(Bloomberg) — Asian stocks pulled back after a five-day rally that pushed a regional gauge into overbought territory, as investors turned cautious amid increasing trade tensions and geopolitical uncertainty. Hong Kong technology stocks were an outlier. The MSCI Asia Pacific Index dropped as much as 0.6% with stocks in Hong Kong and Japan declining after…
(Bloomberg) — Amazon.com Inc founder Jeff Bezos’ $10-billion Earth Fund has ended its support for the Science Based Targets initiative, the main verifier of corporate climate targets, the Financial Times reported. The billionaire’s philanthropic entity has halted backing for the group following complaints by SBTi staff about its influence, the report said. It’s also seen…
(Bloomberg) — China and Japan agreed that Beijing’s top diplomat should visit in 2025, adding to the signs the two nations are repairing ties that have been strained in recent years. Chinese Foreign Minister Wang Yi would make the trip at the earliest appropriate date, the Foreign Ministry in Tokyo said in a statement Wednesday….
The CEO of Hong Kong’s largest power supplier said electricity sales have risen because of digitalisation and electrification in the city’s economy, which has brought growth opportunities and decarbonisation challenges. “Electrification is a global trend for achieving decarbonisation in some sectors like transportation and home cooking, which has resulted in greater demand for electricity,” CLP…
(Bloomberg) — A lack of green offices is posing a fresh risk to Hong Kong’s beleaguered property sector amid a slump that’s already wiped billions of dollars from real estate values. Faced with record vacancy rates and dwindling revenues, developers are reluctant to invest in expensive building upgrades to boost climate credentials and are as…
Hong Kong’s uptake of hydrogen, hampered by limited supplies, high costs and infrastructure, can be solved by allowing logistics vehicles to fill up on the zero-emission fuel across the border, according to a start-up. Qian Wei, founder and CEO of Hong Kong-based H2 Solution, which markets hydrogen fuel cell systems overseas, said the city can…
Hong Kong has world-class clean energy ambitions. The government has committed to net-zero emissions by 2050, by targeting electricity generation, waste reduction and transport. Having one of the most well-managed mass transit networks in the world, Hong Kong must also deal with transport’s sizeable share of carbon emissions – 18 per cent of the city’s…
Mainspring Energy co-founders (L-R) Adam Simpson, Matt Svrcek, and Shannon Miller with the company’s linear generator.Photo: Mainspring Energy In January 2018, Gates invested in Mainspring Energy’s $83.3 million Series C, according to PitchBook, which led the company to a $208.3 million valuation. Mainspring’s linear generator uses chemical energy to convert motion along a linear line…
Many have complained about the unbearable heat in Hong Kong over the past couple of months. Perhaps we should review some global data, such as atmospheric carbon dioxide concentration at present. It is still on the rise, having risen above 425 parts per million in July, meaning that our collective decarbonisation efforts to address climate…
Many have complained about the unbearable heat in Hong Kong over the past couple of months. Perhaps we should review some global data, such as atmospheric carbon dioxide concentration at present. It is still on the rise, having risen above 425 parts per million in July, meaning that our collective decarbonisation efforts to address climate…