People

Labubu, known for its distinctive and expressive smile, has become a cultural global icon that many have come to appreciate. In2024, the Monsters IP franchise generated 3.041 billion RMB in revenue, showcasing China's potential in global original IP exports.

Could cryptocurrency mining have become a driving force for carbon reduction in China? As the global cryptocurrency market rapidly expanded, mining evolved into a billion-dollar industry. However, its high energy consumption attracted criticism and was a key reason for the Chinese government’s ban on mining in 2021. Despite this, Prof. Guojun He highlighted that appropriate electricity pricing policies could have enabled mining activities to promote renewable energy development and reduce carbon emissions.

As a coastal city with low-lying terrain, Hong Kong is frequently affected by extreme weather events and has experienced multiple climate disasters in the past decades. Prof. Guojun He, Professor in Economics, Management and Strategy, HKU Business School & Director of the HKU Jockey Club Enterprise Sustainability Global Research Institute, Ms. Qidan Wang, Ms. Vivi Hu, and Mr. Cheng BI explain that two climate risks are particularly concerning: the occurrence of severe typhoons and rising sea levels. In this regard, the authors have studied how typhoons and sea level rises would affect public housing and conduct scenario analysis on the potential economic losses under different climate pathways. Their analysis shows that the potential damages caused by sea level rise can be more severe, especially in the long run. Under the high carbon-emissions pathway, it is also projected that the asset loss due to sea level rise for the three selected public housing estates would be significantly higher than that caused by typhoons. If climate risks are tackled appropriately, they can be transformed into development opportunities.

Vulture and human death: In India, the disappearance of vultures led to a rapid decline in ecological quality in areas where they once thrived. This not only resulted in increased surface water contamination by pathogens but also caused significant population growth in stray dogs and rats. The functional extinction of vultures has led to an additional 100,000 deaths in India each year, reaching nearly USD 70 billion annually in economic losses.

Today, in the face of complex environmental, social, and governance challenges, ESG has become a central focus for businesses. In the past, businesses often improved their ESG ratings by following the criteria of various rating agencies. However, with around 600 ESG rating agencies worldwide, each with its own standards, rating inconsistencies are common. This means that even with significant efforts in ESG, companies may still receive varying ratings.

Today, in the face of complex environmental, social, and governance challenges, ESG has become a central focus for businesses. In the past, businesses often improved their ESG ratings by following the criteria of various rating agencies. However, with around 600 ESG rating agencies worldwide, each with its own standards, rating inconsistencies are common. This means that even with significant efforts in ESG, companies may still receive varying ratings.

The academic community positively impacts ESG development by integrating government, business, and academia, sharing results with both sectors. Professor He Guojun from HHKU Jockey Club Enterprise Sustainability Global Research Institute suggests that the government can propose needs or build platforms, allowing academia to provide targeted research and solutions. Additionally, the government should offer funding and simplify administration to help transform and commercialize research outcomes, aiding companies in market competition.

Extreme weather incidents are becoming more frequent, bringing unprecedented challenges to various industries. In addition to the increasing costs of equipment maintenance and emergency measures, the enterprises’ production plans may be affected by equipment damages and supply chain interruptions. Investors are also concerned about the impact of extreme weather on businesses, resulting in fluctuations in stock prices and increased financing costs.

Extreme weather incidents are becoming more frequent, bringing unprecedented challenges to various industries. In addition to the increasing costs of equipment maintenance and emergency measures, the enterprises’ production plans may be affected by equipment damages and supply chain interruptions. Investors are also concerned about the impact of extreme weather on businesses, resulting in fluctuations in stock prices and increased financing costs.