Label News
2024-01-11
CarbonCare InnoLab presents 44 CarbonCare® Label and facilitates discussion on how Hong Kong should respond to COP28
The 28th United Nations Climate Change Conference (COP28) conducted the first "Global Stocktake" and found that the climate actions taken by countries are still insufficient to achieve the goal of limiting the global average temperature increase within 1.5°C. The COP28 final agreement committed to "transitioning away from fossil fuels," indicating that all sectors of society need to take proactive measures to reduce carbon emissions and address the impacts of climate change.
Some business leaders have already taken the lead in reducing carbon emissions, implementing environmental, social, and governance best reporting practices, supporting the circular economy, and more. These actions not only address climate change but also help control operational risks. On 10 January, CarbonCare InnoLab (CCIL) held the “Decoding COP28: Unleashing Hong Kong's Response to Ambitious Climate Action cum CarbonCare® Label 2023 Award Ceremony” at Regal Hongkong Hotel. During his welcome speech, the co-founder and CEO of CCIL, Mr. Chong Chan Yau, stated: "When I woke up this morning, I saw the news from the BBC confirming the data from the European Climate Monitoring Agency that 2023 will be the hottest year, with an average temperature increase of 1.48°C. The target of 1.5°C has been breached. The climate crisis is approaching rapidly, and all sectors can no longer make excuses for refusing to take climate action."
This year, CCIL has presented a total of 44 CarbonCare® Labels to 20 companies and organisations, recognizing their commitment to addressing climate change over the past year. Jebsen Group, TREE Limited, and China State Construction International Holdings Limited's Hong Kong Organic Resource Recovery Center Phase 2 have achieved carbon neutrality. Fortune REIT and Kerry Properties Limited have both received the Level 4 - the highest level of the CarbonCare® ESG Label. However, as the climate crisis worsens, bolder climate action is needed. The CarbonCare® Labels have consistently recognized companies and organizations that have made significant achievements in carbon reduction and promoting sustainable development. By raising the application requirements, the scheme encourages continuous improvement among businesses and organisations. CCIL has also found that some companies have not committed to the 1.5°C net zero pathway and failed to consider their impacts on the environment and society during materiality assessments. This highlights the ongoing need for the business sector to strive to meet the latest international trends, regulatory requirements and community aspirations. CCIL’s Researcher Kevin Li reminded the business sector that they need to genuinely phase out fossil fuels rather than just focusing on greenwashing.
In addition to the CarbonCare® Label Award Ceremony, the event also aimed to raise awareness about COP28 and facilitate discussions on how various sectors in Hong Kong, including government departments, schools, social welfare organisations, non-governmental organisations, listed companies, and small and medium enterprises, should respond to COP28. CCIL invited civil society organizations including Oxfam Hong Kong, Hong Kong Red Cross, Friends of the Earth (HK), Good Lab, Health in Action, Community Climate Resilience Concern Group, as well as delegations from CCIL (including seven outstanding graduates of the "Climate Advocacy Training for Youth" (CATY)), scholars, and business representatives. They engaged in in-depth discussions on topics such as energy transition, climate justice, climate adaptation, health, innovative technologies, and green finance. CCIL hopes that the event will inspire all sectors to take further climate action, prevent future climate disasters, and ensure climate justice.