Saturday, March 2, 2013

HK's Updates: Funds earmarked for green initiatives (27 Feb 2013)

Funds earmarked for green initiatives

February 27, 2013
Financial Secretary John Tsang today announced funding plans for water improvement, recycling and waste treatment facilities, and other measures to improve environmental infrastructure.
In his Budget speech today, Mr Tsang said the second stage of the Harbour Area Treatment Scheme will cost $17.6 billion, and improve water quality in Victoria Harbour.
He also said the Government is pressing ahead with the first phase of an organic waste treatment facility in Siu Ho Wan, Lantau, which will convert food waste into energy and compost products starting in 2016.
Other green investments include $500 million earmarked for waste electrical and electronic equipment processing facilities, and five community green stations to encourage public participation in waste reduction and recycling.
“Improving the environment is vital to the sustainable development of Hong Kong, for which we need the shared commitment of both the community and the Government,” he said, noting the next priority is improving roadside air quality.
Mr Tsang has also earmarked funds for proposals made in last month’s Policy Address, such as $10 billion for phasing out heavily polluting vehicles, and $5 billion for the Environment & Conservation Fund for community-initiated green projects. He has also made provisions for the fund to enhance environmental awareness, conduct scientific research, and encourage public participation.

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