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Hong Kong Rejects Carbon Tax, Pursues Hydrogen Fuel Strategy

1/23/2026

Summary

Story summary

Hong Kong will not implement carbon-based taxation in its decarbonisation efforts, said Financial Secretary Paul Chan Mo-po at the World Economic Forum.
He said maintaining a simple tax framework is crucial for the city's competitiveness.
Chan described the government's strategy of collaborating with the private sector to create sustainable business cases.
Instead, the government subsidizes transport firms to test hydrogen fuel cell buses, aiming for zero vehicular emissions by 2050.

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Story summary

Hong Kong will not implement carbon-based taxation in its decarbonisation efforts, said Financial Secretary Paul Chan Mo-po at the World Economic Forum.
He said maintaining a simple tax framework is crucial for the city's competitiveness.
Chan described the government's strategy of collaborating with the private sector to create sustainable business cases.
Instead, the government subsidizes transport firms to test hydrogen fuel cell buses, aiming for zero vehicular emissions by 2050.