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| No.9 December, 2009 |
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Clean-development project notes issued |
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 Hong Kong has announced new procedures for local companies wanting to invest and participate in greenhouse gas reduction projects in China.
The Environmental Protection Department announced on December 1 supplementary notes setting out requirements and application procedures for Hong Kong enterprises taking part in Clean Development Mechanism (CDM) projects in China.
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The department’s new procedures will allow Hong Kong lawyers qualified to provide notary services in China to verify company information provided by Hong Kong companies taking part in CDM projects. This includes statutory declarations, documentation and information such as a company’s board of directors and share holding details.
The department will issue a letter of certification for qualified Hong Kong firms under the Measures for Operation & Management of Clean Development Mechanism Projects in China. The National Development & Reform Commission will treat them as Chinese enterprises in processing the applications.
The department said these projects had enormous potential and involved substantial capital and major technology transfer.
The scheme will allow Hong Kong firms to invest in appropriate energy efficiency projects, participate in developing new energy or renewable energy and explore opportunities in green business. They will also contribute to efforts to combat climate change by facilitating China and Hong Kong in further reducing greenhouse gas emissions and achieving sustainable development.
The CDM is formulated under the United Nations to encourage the transfer of technology and to help reduce greenhouse gas emissions. For more information, please visit http://www.epd.gov.hk/epd/english/climate_change/coop_int.html
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