SUSTAINABILITY

New EU Generalised Scheme of Preferences Proposed, with Stricter Conditions for Market Access

28 September 2021

On 22 September 2021, the European Commission announced that it has adopted a legislative proposal for the new EU Generalised Scheme of Preferences (GSP) for the period 2024-2034. The Commission is proposing to improve some of the key features of the scheme to better respond to the evolving needs and challenges of GSP countries as well as reinforce the scheme’s social, labour environmental and climate dimension. More

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Controversy Abounds Over EU Carbon Border Levy Proposal

28 September 2021

Although the European Commission maintains that its proposal for an EU Carbon Border Adjustment Mechanism (“CBAM”) is instrumental to achieving EU climate goals, without compromising the competitiveness of European industries, it has been reported that key trading partners are highly critical of the scheme. European industries and climate campaigners have also expressed some scepticism. More

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Post-Covid Prospects: The United Arab Emirates

23 September 2021

The first case of COVID-19 in the UAE was recorded on 29 January 2020, and so the Emirates was one of the first countries in the world to see confirmed cases. Repeated lockdown measures to curb the spread of the virus, coupled with the global and regional economic recession, severely impacted the economy of the Middle East’s global business hub, and hit the tourism, logistics and retail sectors particularly hard. More

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QATAR: Investment Portal Launched to Promote Public-Private Partnership

01 September 2021

Qatar’s Ministry of Municipality and Environment (MME) has launched the Foras investment portal intended to aid private sector investment partnership with the public sector. More

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Post-Covid Prospects: Russia

11 August 2021

The global pandemic shrank the economy of the biggest country in both Europe and Asia, Russia, by 3% last year. This interview sets out how Russian businesses are weathering the storm and preparing themselves for a post-Covid-19 recovery in partnership with their Hong Kong counterparts. More

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Germany Introduces Due Diligence Obligations for Global Supply Chains of Large Companies

09 August 2021

Germany has adopted new legislation to ensure the protection of basic human rights and of the environment along global supply chains. The German Act on Corporate Due Diligence in Supply Chains (the “Supply Chain Due Diligence Act” - SCDDA) aims to protect rights of people who produce goods for the German market. Goods would include, for example, garments from Asia. Other examples are cocoa and fruit from Africa, and coffee from South America. More

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Post-pandemic Supply Chains: Green Lighting Environmental Compliance

04 August 2021

The Covid-19-induced pause in economic activity has offered a glimpse of an alternative green economy. To understand how Hong Kong’s testing, inspection and certification (TIC) industry is readying itself and its clients for a sustainable post-Covid future, HKTDC Research talked to Martin Fan, the managing director of TÜV Rheinland Hong Kong. More

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EU Body Addresses Forced Labour in Guidance Intended for EU Businesses and Their Global Supply Chains

28 July 2021

The European External Action Service has published guidance on due diligence for EU businesses to address the risk of forced labour in their operations and supply chains. The guidance outlines the practical aspects of due diligence. It provides an overview of international standards on responsible business conduct and due diligence which are relevant for combatting forced labour. More

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Post-Covid Prospects: The Netherlands

28 July 2021

The Netherlands, shifting into high gear in its race to reach herd immunity by mid-August, has many good reasons to hope for a fast comeback. This interview sets out how Dutch businesses are ready to grow their businesses in partnership with their Hong Kong counterparts in the post-Covid future. More

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EU Introduces Carbon Border Levy Proposal

26 July 2021

The European Commission has presented its proposed Regulation for an EU Carbon Border Adjustment Mechanism (“CBAM”). The CBAM proposal forms part of the EU’s Fit for 55 Package which aims to set out a clear path towards achieving the EU’s ambitious target of a 55% reduction in carbon emissions (compared to 1990 levels) by 2030, with the aim of becoming a climate-neutral continent by 2050. More

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