​The Food and Environmental Hygiene Department (FEHD) announced today (October 9) that stalls at the 2025 Lunar New Year (LNY) fairs will be put up for open auction in batches starting from October 22 (Tuesday). &nbs… read more
A property owner who persistently failed to comply with two removal orders issued under the Buildings Ordinance (BO) (Cap. 123) was convicted and fined over $230,000 in September 2024 at the Tuen Mun Magistrates’ Courts.
Both removal orders involved unauthorised building works (UBWs) at a three-storey house on Yu Chui Street, Tai Lam, Tuen Mun. The first removal order included illegal site formation works for constructing an unauthorised platform of about 122 square metres on a slope adjoining an approved garden, erection of a floor slab over a void adjacent to an approved dining room, removing parts of external walls and constructing unauthorised structures to extend the floors at different levels of the building with a total floor area of about 57 sq m. The second removal order included an unauthorised canopy at a ground floor entrance. As the UBWs were carried out without prior approval and consent from the Buildings Department (BD), two removal orders were served on the owner under section 24(1) of the BO.
Failing to comply with the first removal order, the owner was prosecuted by the BD six times, was fined over $350,000 in total and was given a four-month imprisonment sentence suspended for two years upon convictions by the court. As the owner persisted in not complying with the removal order, the owner was prosecuted for the seventh time. The owner also did not comply with the second removal order and he was prosecuted at the same time. The owner was convicted at the Tuen Mun Magistrates’ Courts on December 2, 2022, and the court adjourned the hearing and ordered the owner to report on the status of the removal of the UBWs before handing down a sentence. On the adjourned hearing date of September 27, 2024, the owner reported to the court that the UBWs under the second removal order had been removed and a contractor had been appointed to follow up on the remaining UBWs removal work under the first removal order. Eventually the owner was fined by the court $239,100 in total, of which $113,100 was the fine for the number of days that the offence continued.
A spokesman for the BD today (October 9) said, “UBWs may lead to serious consequences. The owners concerned must comply with removal orders without delay. The BD will continue to take enforcement actions and consider instigating prosecution against the owners again if they persist in not complying with the orders, so as to ensure building safety.”
Failure to comply with a removal order without reasonable excuse is a serious offence under the BO. The maximum penalty upon conviction is a fine of $200,000 and one year’s imprisonment, and a further fine of $20,000 for each day that the offence continues. read more
The following is issued on behalf of the Hospital Authority:
The Hospital Authority (HA) spokesperson today (October 9) announced that 14 general out-patient clinics (GOPCs) will provide public holiday GOPC services on the Chung Yeung Festival holiday (October 11) (see table below). Patients may book an appointment either through the telephone appointment system or the “Book GOPC” function of the “HA Go” mobile app.
The spokesperson reminded members of the public that they should stay vigilant to personal and environmental hygiene during the public holiday to avoid spreading diseases. Members of the public who develop respiratory symptoms should wear a mask and seek medical advice promptly. Apart from GOPCs of the HA, patients may also consider attending consultation by private family doctors. To choose a suitable family doctor and related clinic service, the public can browse the Primary Care Directory of the Health Bureau at www.pcdirectory.gov.hk.
Moreover, the HA is currently providing seasonal influenza vaccinations to eligible persons at public hospitals and outpatient clinics. The spokesperson said that eligible patients can receive vaccinations at the time of their scheduled follow-up appointments at clinics. Patients with a distant follow-up appointment date may visit or contact the respective clinics for necessary arrangements. The spokesperson emphasised, “As Hong Kong is about to enter winter, the risk of influenza transmission increases. High-risk individuals such as chronic disease patients, the elderly and children may develop severe complications after an influenza infection, leading to serious illness or death. Members of the public should receive seasonal influenza vaccinations as soon as possible to enhance immunity against influenza and greatly reduce the risk of serious illness or death from infection.”
GOPC service arrangements on Chung Yeung Festival (October 11)
| Region | List of GOPCs | Address | Telephone number for booking | General enquiries |
| Hong Kong Island | Aberdeen Jockey Club General Out-patient Clinic | 10 Aberdeen Reservoir Road, Aberdeen | 3543 5011 | 2555 0381 |
| Shau Kei Wan Jockey Club General Out-patient Clinic | 1/F, 8 Chai Wan Road, Shau Kei Wan | 3157 0077 | 2560 0211 | |
| Violet Peel General Out-patient Clinic | LG, Tang Shiu Kin Hospital Community Ambulatory Care Centre, 282 Queen’s Road East, Wan Chai | 3157 0000 | 3553 3116 | |
| Kowloon | Kwun Tong Community Health Centre | UG/F, 60 Hip Wo Street, Kwun Tong | 3157 0687 | 2389 0331 |
| Our Lady of Maryknoll Hospital Family Medicine Clinic | G/F, Out-patient Block, Our Lady of Maryknoll Hospital, 118 Shatin Pass Road, Wong Tai Sin | 3157 0118 | 2354 2267 | |
| Robert Black General Out-patient Clinic | 600 Prince Edward Road East, San Po Kong | 3157 0113 | 2383 3311 | |
| Yau Ma Tei Jockey Club General Out-patient Clinic | 1/F, 145 Battery Street, Yau Ma Tei | 3157 0880 | 2272 2400 | |
| New Territories | Lady Trench General Out-patient Clinic | 213 Sha Tsui Road, Tsuen Wan | 3157 0107 | 2614 4789 |
| Lek Yuen General Out-patient Clinic | G/F, 9 Lek Yuen Street, Sha Tin | 3157 0972 | 2692 8730 | |
| Shek Wu Hui Jockey Club General Out-patient Clinic | G/F, 108-130 Jockey Club Road, Shek Wu Hui, Sheung Shui | 3157 0965 | 2670 0211 | |
| Tai Po Jockey Club General Out-patient Clinic | G/F, 37 Ting Kok Road, Tai Po | 3157 0906 | 2664 2039 | |
| Tseung Kwan O (Po Ning Road) General Out-patient Clinic | G/F, 28 Po Ning Road, Tseung Kwan O | 3157 0660 | 2191 1083 | |
| Tuen Mun Clinic | 11 Tsing Yin Street, San Hui, Tuen Mun | 3543 0886 | 2452 9111 | |
| Yuen Long Jockey Club Health Centre | 269 Castle Peak Road, Yuen Long | 3543 5007 | 2443 8511 |
Attention TV/radio announcers: Please broadcast the following as soon as possible: Here is an item of interest to swimmers. The Leisure and Cultural Services Department announced toda… read more
​Following is the speech by the Financial Secretary, Mr Paul Chan, at the HKGFA Annual Forum 2024 “Financing Asia’s Net Zero Transition” today (October 9):
Director-General Tan Yabo (the Deputy Director-General of the Department of Economic Affairs of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region), Dr Ma (the Chairman and President of the Hong Kong Green Finance Association, Dr Ma Jun), Mary (Vice Chair of Glasgow Financial Alliance for Net Zero, Ms Mary Schapiro), Sally (Resident Representative in Hong Kong SAR (designate), International Monetary Fund, Ms Sally Chen), distinguished guests, ladies and gentlemen,
Good morning. It is my great pleasure to join you for the 7th edition of this annual flagship forum organised by the Hong Kong Green Finance Association. It is particularly timely and important for us to gather to discuss and explore how we can work together to finance Asia’s net-zero transition.
Speaking to such a sophisticated audience, I need not convince you of the urgency to tackle climate change collaboratively. Nonetheless, two facts from the World Meteorological Organization serve as stark reminders of the clear and present danger of climate change to Asia: first, 2023 was the hottest year on record. Second, Asia is warming faster than the global average, and last year, it remained the world’s most disaster-hit region due to weather, climate, and water-related hazards.
Global call for transition finance
Globally, as countries and regions set targets to achieve carbon neutrality, green investments have been rising. Meanwhile, transition finance is also gaining importance. In addition to investing in green initiatives, the global community has now recognised the need to assist high-emission and heavily polluting sectors in their journey to “becoming sustainable”. This involves providing financial and technological resources to help them increase energy efficiency, upgrade production technologies, invest in green activities, and, ultimately, achieve net-zero emissions.
This transition is not without challenges. Reducing carbon emissions in various industries is costly. Consulting firm McKinsey, for example, has estimated that achieving low-carbon transition requires an average spending of US$9.2 trillion annually on physical assets from the year 2021 to 2050. And there is a significant shortfall of US$3.5 trillion per year.
Given the substantial scale of transition investments, there is broad international consensus to mobilise private capital to help finance them. For example, the European Commission has stated that a significant portion of investments needed to meet the EU’s climate goals must originate from the private sector. Similarly, the IMF (International Monetary Fund) forecasted that for emerging economies, approximately 80 per cent of the necessary investments in climate mitigation by 2030 should come from private entities.
However, in contrast to these projections, private sector investors have not allocated as much capital as necessary to the relevant sectors. ESG (environmental, social and governance) investing, a commonly used asset allocation strategy, often excludes high-emission and heavily polluting industries. A study of 300 institutional investors in Europe, North America and the Asia-Pacific this year suggested that only 37 per cent of investors allocated funds to “transitioning” companies, with an additional 26 per cent planning such allocations within the next two years. Obviously, they are insufficient to bridge the funding gap.
Another challenge for transition finance is “transition-washing”. While we are familiar with “greenwashing”, in the context of transition activities, there may be additional complexity, particularly in defining what actually constitutes “becoming sustainable”. It is also crucial to ensure that funds are used to finance legitimate decarbonisation initiatives rather than prolonging unsustainable practices.
Hong Kong’s opportunities in transition finance
Ladies and gentlemen, while the challenges in transition finance may sound daunting, they also present unique opportunities for Hong Kong.
First, we can be Asia’s leading transition finance hub. With the concerted efforts from the Government and the industry, Hong Kong has made significant strides in the space of green and sustainable finance. We stand as Asia’s leading green financing hub. Over the past three years, we issued an average over US$63 billion in green bonds and debts annually. The number of ESG funds authorised by the SFC (Securities and Futures Commission) has also been on the rise. As of June this year, there were over 230 such funds, managing assets exceeding US$160 billion, representing a 60 per cent growth compared to three years ago.
That means Hong Kong already has a strong foundation to develop the transition finance market – including a robust regulatory framework, the necessary financial infrastructure, a well-developed finance market, and the expertise on standard-setting and compliance. What we need now is to raise the awareness of the necessity of transition finance, and the potential it offers.
We are pressing ahead. For example, in my Budget this year, we extended the Green and Sustainable Finance Grant Scheme to 2027. To incentivise the use of Hong Kong as a transition financing platform, the Scheme has been expanded to cover transition bonds and loans.
On green standards setting, we participate in the global efforts in developing taxonomies to delineate permissible activities. These frameworks serve as universal language among investors, issuers, policymakers, and other stakeholders to combat “greenwashing”, as well as “transition-washing”.
In May this year, the Hong Kong Monetary Authority (HKMA) published the Hong Kong Taxonomy for Sustainable Finance, aiming to facilitate informed investment decisions on green and sustainable finance and thereby scaling up relevant investments. Our Taxonomy was devised to be compatible with the two mainstream taxonomies, the Mainland and the European Union. Currently, the HKMA is developing the next phase of the Taxonomy to include transition activities. It is our plan to conduct a public consultation for this in early 2025. Our efforts will contribute to the global development and consensus-building on transition taxonomy.
Improving sustainability disclosure at the company level will enable investors to assess whether and how companies have met their environmental and sustainability commitments. In March this year, the Government issued a statement, which sets out our vision to be among the first jurisdictions to align local sustainability disclosure requirements with the standards set by the International Sustainability Standards Board, the ISSB. In this regard, the Hong Kong Stock Exchange also announced in April that it would implement amended listing rules with new climate requirements starting in 2025. Moreover, in September, the Hong Kong Institute of Certified Public Accountants released an exposure draft on the financial reporting standards on sustainability disclosures, which will assist investors in obtaining more reliable ESG information about companies.
Finally, voluntary carbon market plays a significant role in facilitating transition finance. In my view, it not only encourages environmental responsibility but will also fosters cross-boundary collaboration in investment in clean energy and other carbon emission solutions.
Closing remarks
Ladies and gentlemen, from where we stand, I feel optimistic about what Hong Kong can achieve in transition finance. However, we need your insightful ideas on what we may do more and better, and these will make this Forum all the more inspiring and meaningful. I wish you all a fruitful and rewarding forum, and the best of health and business in the years to come. Thank you very much.
