Cutting-edge tools

to facilitate sustainability reporting

HKUST Insitute for the Environment, in collaboration with the the Green and Sustainable Finance Cross-Agency Steering Group which is co-chaired by the Hong Kong Monetary Authority and the Securities and Futures Commission, has developed a cutting-edge greenhouse gas emissions calculator and estimator that were publicly available from February 2024. 

Recognizing the limited resources of small and medium-sized enterprises to engage sustainability experts, these user-friendly tools are intended to equip businesses with the means to accurately calculate and manage their environmental footprint, supporting the transition to a more sustainable future.

 

Launching
The launching event of the tools was held on 21 February 2024. At this event, Prof. Christine Loh, Chief Strategy Officer, IENV, and Ms. Julia Leung, CEO, Securities and Futures Commission kicked off the launch. Prof. Jimmy Chan and Ms. Shannon Ho gave a demonstration of the tools.

 

The tools are now accessible on the website of Green and Sustainable Finance Cross-Agency Steering Group. Currently, the calculator only covers Scope 1 and Scope 2. Scope 1 refers direct greehouse gas emissions, including stationary combustion emissions, mobile emissions, and fugitive emissions. Scope 2 represents indirect emissions resulting from the purchase of electricity and gas.

In today's world, allocating funds to environmentally responsible companies is of paramount importance. However, accessing a company's public data on greehouse gas emissions can be challenging. The estimator enables users to estimate a company's emssions even when sufficient data is unavailable, assisting financial institutions, banks, and investors in making investment and lending decisions based on a company's potential greenhouse gas emissions. Benchmarking capabilities will be introduced in the next stage of the development, allowing companies to understand their competitive standing in terms of industry-wide emission performance. Over time, as the system is utilized by more entities, the dataset will become more robust, enhancing the estimator's accuracy and reliability as a tool for estimating greenhouse gas emissions.

 

Click to Read the Press Release of the Launch

Demo Video of the tools

Media Coverage