COP28: Hong Kong Ambassadors Club Leads the Charge in Climate Finance, Formulating 10 Strategic Partnerships and Joint Ventures between Hong Kong, GBA and Middle East
Tsangs Group, as one of the founding members of the Hong Kong Ambassadors Club (“HKAC”), is pleased to announce in an innovative series of initiatives hosted by the Hong Kong Ambassadors Club (“HKAC”) surrounding the 28th Conference of the Parties of the United Nations Framework Convention on Climate Change (“COP28”), the BridgeME HKAC UAE-HK-GBA COP28 NextGen Delegation (“Delegation”), and Hong Kong Climate Day formulated 10 strategic partnerships and joint ventures that bolster the climate finance landscape and support on low-carbon transition across Hong Kong, the Greater Bay Area (“GBA”), and the Middle East.
The delegation, led by Co-founders The Hon Jeffrey Lam, GBM, GBS, JP, Member of Legislative Council and Executive Council of Hong Kong SAR Government and Patrick Tsang, Chairman of Tsangs Group, embarked on a visit to Abu Dhabi and Dubai, United Arab Emirates, from 29 November to 4 December 2023. The delegation comprised a group of 15 next generation leaders from family offices and climate technology family enterprises in Hong Kong and GBA. They have engaged with key global stakeholders, reinforcing Hong Kong’s dedication to green finance and sustainable technology innovation.
The visit featured high-level networking opportunities to advance climate-focused and technology-led business solutions, including Masdar City, SIBCA Group and Silal Group (an ADQ Company); esteemed individuals such as HE Hussain AlNowais, Chairman of AMEA Power; Aaron Astley, Co-Chairman of Zayed Energy and Water; Ibrahim Larri, Chairman of SIBCA Group.
One of the event’s highlights was the Family Business and Climate Technology Dinner in the celebration of the UAE National Day, attended by distinguished guests such as Wassim Youssef Said, Senior Advisor to UAE Minister of Climate Change and Environment, Tse Chin-wan, BBS, JP, Secretary for Environment and Ecology of the Hong Kong SAR Government; and Yan Mei Mei, Salina, JP, Permanent Secretary for Financial Services & the Treasury (Financial Services) of the Hong Kong SAR Government.
Additional luncheons and dinners were organised for the delegates, who had the opportunity to engage with the representatives from the World Economic Forum, Abu Dhabi Global Market, Abu Dhabi Investment Office, Abu Dhabi National Oil Company, and VentureSouq. Several delegates were committed to form the family office young leaders community partnership with the Emirates Family Office Association, aiming to advance the energy transition, climate sustainability and foster greater understanding between regions.
On 1 December 2023, DeepRock Group hosted the “Global Net Zero Climate Dialogue – Hong Kong Session,” at Biosphere 3 Solutions Pavilion, moderated by Patrick Tsang. Panellists include The Honourable Jeffrey Lam, GBM, GPS, JP and Wang Shi, Founder of DeepRock Group who explored collaborative approaches to address the challenges of climate change. The strategic partnership between Tsangs Group, Bridge ME Limited, and DeepRock Group was solidified, setting the stage for the initiation of discussions with Hong Kong-Shenzhen Innovation and Technology Park Limited to strengthen ties between Hong Kong and Shenzhen.
On 8 December 2023, in collaboration with DeepRock Group, the HKAC curated “Hong Kong Climate Day” at COP28. The event, held in the Blue Zone’s Biosphere 3 Solutions Pavilion, featured a series of panel discussions that honed in on a spectrum of critical topics: from climate-resilient technologies, cutting-edge innovations, and the impact of investments and measurements to the future of family businesses in Asia, Hong Kong’s I&T Development Blueprint and the evolving GBA ecosystem, food security amid scarcity and nature-based solutions, as well as the renewable energy and sustainability solution.
Hong Kong’s innovative tech companies were represented such as A-Grade Energy, Rice Robotics, and Green Monday. Speakers included Gong Chen, Partner of Private Equity at DeepRock Group; Karen Hanyuan Wang, Founder of Climind and SDG Young Leader of the UN; Zoe Peixuan Zhao, Founder of RELOOK Social Innovation Centre and the Asia-Pacific Sustainable Development Youth Union; Dr Cyrus Yushi Chen, Climate FinTech Distinguished Specialist at New Energy Nexus; David Yeung, Founder of Green Monday; Jonathan Lamport, CEO of A-Grade Energy; Maria Al-Zahrani, a Saudi Investor Relations Professional; Sunny Chau, Associate Director of the Hong Kong-Shenzhen Innovation and Technology Park Limited; and Tylor Ng, General Manager of Rice Robotics.
Another significant development is the upcoming deployment of new solar glass materials and battery storage system solutions by A-Grade Energy Limited, including a Micro-grid for an off-grid and hybrid solar recycling plant utilising Silicon panels, Cadmium Telluride (CdTe) panels and Battery Storage System (BSS), in partnership with the UAE Construction Group SALD Investment (BIC Contracting). The project is set to commence in early 2024, beginning with the panels installation on the first nine buildings in the UAE under SALD Investment’s portfolio, alongside a solar glass showroom in Dubai.
“The Hong Kong Climate Day at COP28 UAE was a watershed and marked a highlight in the young history of the HKAC. As a metropolis, it is in Hong Kong’s vital interest that global warming stops and that sea levels do not rise further. The exchange of ideas and first signings of concrete projects in the renewable energy field gave proof that the Green Silk Road is a young plant which is growing fast,” commented The Hon Jeffrey Lam, GBM, GBS, JP.
“COP28 in Dubai made history by mentioning the post-fossil fuels era for the first time in its closing communique. Tsangs Group and the Hong Kong Ambassadors Club have indeed contributed to the success of this most momentous occasion by bringing a high-profile Chinese delegation to COP28 and successfully organising the Hong Kong Climate Day, positioning Hong Kong as a leading global green finance hub. Hence, with some pride, we united, acted, and delivered. We would wholeheartedly thank the host country UAE for its support and unique hospitality,” commented Patrick Tsang.
As we commemorate the achievements of Hong Kong Climate Day, the collective efforts of Tsangs Group, DeepRock Group and Bridge ME Limited shine as a symbol of hope in the battle against climate change. The partnerships established during COP28 demonstrate a dedication to inventive solutions and sustainable practices, enhancing Hong Kong’s role as a global green finance hub and aligning with Hong Kong’s Climate Action Plan 2050 objectives. The HKAC turns the visions into action with the strategic alliance, fostering a future of collaborative efforts in addressing climate challenges by uniting stakeholders in finance, technology, and environmental stewardship and establishing a benchmark for international cooperation to pursue a sustainable and resilient world.
The journey continues as these visionary leaders pave the way for a more sustainable future, leaving an enduring impact on the stage. Together, we embark on a shared mission to construct a world where innovation and environmental responsibility intertwine harmoniously.
About Hong Kong Ambassadors Club
Hong Kong Ambassadors Club is an organisation for global investors and professionals seeking to deepen ties, build connections, and participate in intimate and high-level conversations with Hong Kong’s best, while obtaining regular newsletters and important and up to date on the ground information and celebrating the unique culture and spirit of its people.
For more information, please visit: https://hk-ac.org/
About DeepRock Group
Founded in 2017 and headquartered in Shenzhen, DeepRock Group was founded and invested by Mr Wang Shi, the founder of Vanke Group and Honorary Chairman of the Board of Directors of Vanke Group.
DeepRock Group is a diversified group, whose main business includes three core segments: carbon neutral community, sports and health, and green finance. Its business scope includes carbon neutral solutions for urban communities, sports and health, education and training, carbon neutral community operation, and financial investment. At present, it has several subsidiaries in Beijing, Shanghai, Shenzhen and Yangzhou.
For more information, please visit https://biosphere3.cn/company.html
About Bridge ME Limited
Bridge ME helps businesses confidently enter the fast-growing Middle East market. Their experts provide tailored strategies to navigate the complex business landscape and tap into the region’s many opportunities.
For more information, please visit: https://bridgeme.co/
About Tsangs Group
Tsangs Group is an innovation-focused global family office that bridges East and West. Our mission is to invest in global opportunities that allow us to exert positive influence and drive positive impact in Hong Kong, Asia and beyond.
Headquartered in Hong Kong, Tsangs Group has direct investments across the world, we seek out positive impact investments that reflect our values of innovation, sustainability, and togetherness. Our strategy is opportunistic and both sector and location agnostic.
From fintech to entertainment to space travel, we are always investigating, analysing, and supporting the cutting edge of global innovation and development.
For further information:
Tsangs Group
Andre Kwok
Tel: +852 2361 3923
andre.kwok@tsangsgroup.co
Selena Sandhu
+1 628 588 7059
selena.sandhu@tsangsgroup.co
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