Hong Kong – IFFO hosts panel discussion on Sustainable Finance in Greater Bay Area at sixth Belt and Road Summit (with photo)

IFFO hosts panel discussion on Sustainable Finance in Greater Bay Area at sixth Belt and Road Summit (with photo)

******************************************************************************************


The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority (HKMA) Infrastructure Financing Facilitation Office (IFFO) today (September 1) hosted a panel discussion on “‘Greener’ Bay Area: through the Sustainable Finance Lens” at the sixth Belt and Road Summit, delving into sustainable development and related financing in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), with a focus on green supply chain and infrastructure financing.

     The Director General of the Guangdong Financial Supervisory Authority, Mr Yu Haiping, opened the session with a review of the green finance opportunities and its current situation in the GBA.

     The panel discussion was moderated by the Executive Director (External) of the HKMA and the Deputy Director of the IFFO, Mr Darryl Chan, and featured the following guests:
 

  • Head of Commercial Banking at The Hongkong and Shanghai Banking Corporation Limited, Mr Frank Fang;
  • Managing Director of Macquarie Asset Management, Mr Neil Johnson;
  • Chief Executive Officer of LFX, Mr Ed Lam; and
  • ESG Partner of PwC Mainland China and Hong Kong Ms Sammie Leung.

 
     The speakers discussed the landscape, opportunities, as well as upcoming trends of sustainable development and financing in the GBA.

     “With the introduction of the overall goal of the country’s ‘Carbon Peak and Carbon Neutrality’, the Guangdong-Hong Kong-Macao Greater Bay Area has a new historical mission for green finance reform and innovation. In the future, the GBA will deepen and refine the green finance collaboration in accordance with the national ‘Carbon Peak and Carbon Neutrality’ policy framework. We suggest to jointly study and improve the green finance standards for the GBA, expand the scale of green financial products, and explore the development of a unified carbon market in the GBA,” Mr Yu said.

     “Sustainable development in the GBA represents an opportunity that is too big to miss for all stakeholders,” Mr Chan said. “We are committed to strengthening Hong Kong’s role as an international financial centre and a green finance hub, and offering the needed financial solutions to accelerate the sustainable development of the GBA.”

Hong Kong – LegCo Panel on Development visits New Territories North (with photos)

LegCo Panel on Development visits New Territories North (with photos)

*********************************************************************


The following is issued on behalf of the Legislative Council Secretariat:

     The Legislative Council (LegCo) Panel on Development visited three Potential Development Areas (PDAs) in New Territories North (NTN) today (August 24) to better understand the current situation of NTN.
 
     Members first arrived at Heung Yuen Wai Boundary Control Point. With the company of the Secretary for Development, Mr Michael Wong, Members went atop the Hong Kong Police Force observation tower to view Shenzhen and the proposed site of one of the PDAs in NTN – the NTN New Town, and received a briefing on the development plan. Members then ascended to a high point at Kong Nga Po to view the proposed site of the NTN New Town as well as its vicinity, and exchanged views with the Secretary for Development on housing and transport planning in the district.
 
     Members also took a coach ride to the proposed Man Kam To Logistics Corridor and San Tin/Lok Ma Chau Development Node. Members were briefed by a representative of the Planning Department on land use proposals of these two PDAs in NTN. They learnt that Man Kam To Logistics Corridor would be developed into a logistic centre, providing convenient links to Heung Yuen Wai Boundary Control Point, whereas San Tin/Lok Ma Chau Development Node would be turned into livable and accessible communities and an employment node with lands earmarked for enterprise and technology park, complementing the development of the Hong Kong-Shenzhen Innovation and Technology Park in the Lok Ma Chau Loop.
 
     Members who participated in the visit were the Panel Chairman, Dr Lo Wai-kwok; the Panel Deputy Chairman, Mr Lau Kwok-fan; Panel members Ms Starry Lee, Mr Chan Hak-kan, Mrs Regina Ip, Mr Frankie Yick, Mr Ma Fung-kwok, Mr Leung Che-cheung, Dr Junius Ho, Mr Holden Chow, Mr Wilson Or, Mr Kenneth Lau, Dr Cheng Chung-tai and Mr Tony Tse; and non-Panel members Mr Christopher Cheung and Ms Yung Hoi-yan.

Hong Kong – LegCo Panel on Administration of Justice and Legal Services visits the Judiciary (with photos)

LegCo Panel on Administration of Justice and Legal Services visits the Judiciary (with photos)

******************************************************************************************


The following is issued on behalf of the Legislative Council Secretariat:

     The Legislative Council (LegCo) Panel on Administration of Justice and Legal Services visited the West Kowloon Law Courts Building (WKLCB) today (August 20) to meet with members of the Judiciary and tour the facilities of the WKLCB.

     Members met with the Chief Justice of the Court of Final Appeal, Mr Andrew Cheung Kui-nung; the Chief Judge of the High Court, Mr Justice Jeremy Poon Shiu-chor; and the Judiciary Administrator, Ms Esther Leung Yuet-yin, to exchange views on issues of mutual concern relating to the Judiciary.

     Led by Mr Andrew Cheung Kui-nung, Members visited a newly refurbished mega courtroom with an enlarged capacity for cases with up to 54 defendants. They were given a demonstration on how the application of technology including the use of remote hearing, e-bundles and digital evidence presentation and exhibits handling, might help enhance the efficiency of court operation. 

     Members then received a briefing on the security and crowd management measures implemented in the WKLCB for ensuring its safe, smooth and orderly operation, especially when high-profile cases were heard with the presence of large number of defendants, legal representatives, reporters and members of the public.

     Members who participated in the visit were the Chairman of the Panel, Mr Cheung Kwok-kwan; the Deputy Chairman of the Panel, Mr Martin Liao; Panel members Ms Starry Lee, Mr Chung Kwok-pan, Dr Junius Ho, Mr Holden Chow and Ms Yung Hoi-yan.

Hong Kong – LegCo Panel on Environmental Affairs visits waste treatment and resource recovery facilities (with photos)

LegCo Panel on Environmental Affairs visits waste treatment and resource recovery facilities (with photos)

******************************************************************************************


The following is issued on behalf of the Legislative Council Secretariat:

     The Legislative Council (LegCo) Panel on Environmental Affairs visited various waste treatment and resource recovery facilities on Lantau Island and in Tuen Mun today (August 17) to better understand the work of the Environmental Protection Department (EPD) on promoting waste-to-energy and waste-to-resource transformation as well as community participation in resource recovery.
 
     With the company of the Secretary for the Environment, Mr Wong Kam-sing, and the Under Secretary for the Environment, Mr Tse Chin-wan, Members first visited the organic resources recovery centre O.PARK1 at Siu Ho Wan on Lantau Island. Members learnt how biotechnology is applied to convert food waste into biogas for power generation.
 
     Members then visited GREEN@TUEN MUN, one of the EPD’s Recycling Stations, in Tuen Mun. They were briefed by representatives of the EPD on the daily operation of and education services available at the station. Members also took the chance to gain first-hand experience of the Smart Recycling System and reverse vending machine.
 
     In addition, Members visited T.PARK, a sludge treatment facility, and Y.PARK, a yard waste recycling centre, located in Tsang Tsui in Tuen Mun. They learnt about the technologies involved in the operation of these facilities.
 
     Members participating in the visit were the Panel Chairman, Mr Vincent Cheng; Panel members Mr Frankie Yick, Mr Kwok Wai-keung, Ms Elizabeth Quat and Mr Lo Wai-kwok.

Expert Panel: Sanctions are Causing Syrians to Starve / Christian Solidarity International Renews Call for End to Collective Punishment of Syrian Civilians


Zurich – “People are already starving in Syria,” warned Professor Joshua Landis at an event hosted by the Quincy Institute, a Washington DC-based think tank, on Wednesday. “Medical equipment is not getting into the country. Prices have gone up. This is a siege. It is war by other means. And people are going to die in large numbers, because it’s completely indiscriminate.”

Professor Landis, the director of the Center for Middle East Studies at the University of Oklahoma, is one of the leading Syria experts in the United States. The event at which he spoke, entitled, “The Human Rights Impact of Broad-Based Economic sanctions,” also featured Professor Asli Bali of UCLA, and Peter Beinart, a columnist at the New York Times, who offered their own critiques of U.S. sanctions regimes around the world.

The U.S. imposed an enhanced sanctions regime on Syria in August 2011, when President Obama first demanded that Syria’s ruler, Bashar al-Assad, step down from power. The EU and other nations quickly joined the sanctions effort. In 2020, the U.S. implemented the Caesar Act, which mandates sanctions on any individual or company, anywhere in the world, that engages in reconstruction work in Syria.

Landis explained in stark terms how the Caesar Act and other sanctions policies have pushed Syria towards economic ruin and mass poverty, by making it extremely difficult to conduct financial transactions, import essential goods, maintain vital infrastructure, or keep electricity running. More than 80% of the Syrian population is today below the poverty line, Landis said, and even people who used to belong to the upper classes have become completely dependent on government aid for survival.

Landis acknowledged that many factors are contributing to the “immiseration” of the Syrian people, including the Lebanese banking crisis and the vast damage caused by the international conflict in Syria. “But clearly,” he said, “this policy of denying resources and sanctioning and sabotaging any effort to supply Syria is really starving people.”

At the same panel, Professor Asli Bali, a scholar of human rights law, observed that, unlike in war, under broad-based sanctions regimes “no distinction between civilian and military targets is remotely possible.” “The economic consequences of broad-based sanctions,” Bali said, “affect health infrastructure, water and sanitation, the possibly of sustaining education, and access to critical foods.” As a result, “Sanctions that we present as ‘starving Assad’ are actually a form of collective punishment that are starving a civilian population.”

While the sanctions against Syria are justified as a measure to promote human rights and a transition to democracy, the panelists observed that sanctions have an extremely poor track record in achieving those goals – not least because, in Professor Bali’s words, they make “the civilian population far more dependent on the very regime we claim we’re trying to dispatch.” Landis suggested instead that the sanctions policy should be understood as an attempt to, in the words of Ambassador James Jeffrey, the U.S.’s former special representative for Syria, “turn Syria into a quagmire” for Russia and Iran.

Peter Beinart analogized the situation to the 1990s sanctions regime on Iraq, which UNICEF and other authorities claimed led to the deaths of 500,000 children. Beinart observed that, at that time, “in the debate in Washington, if you challenged sanctions, you were seen as being on the side of Saddam Hussein.” Beinart exhorted policymakers to reject this “Manichean view” and “have a real-world conversation about what we can actually achieve with tools that are actually morally defensible.”

Reacting to the panel today from Zurich, Dr. John Eibner, the international president of Christian Solidarity International, commended the panelists for speaking so frankly about the campaign of collective punishment against the Syrian people. “Whatever legitimate goals the U.S. may have in Syria, subjecting an entire civilian population to hunger and economic despair is an immoral and illegal way to achieve those goals,” Eibner said.

Eibner pointed to an Open Letter that was sent to President Biden on January 21, 2021, by over 90 dignitaries, including six prominent church leaders from Syria, which asked the president to remove those sanctions that harm the Syrian people. Eibner commented, “It is long past time for the United States, the European Union, the Swiss Confederation and other sanctioning states to listen to the voice of the Syrian people and their supporters and end this collective punishment.”