Green Economy and Employment Opportunities 6.1 Countries around the world are promoting low-carbon transformation as the awareness of environmental protection among people contin- ue to grow. This is driving the development of a green economy in areas such as the application of new energy, energy saving and environmen- tal protection, new energy vehicles and other green industries, and has brought new invest- ment and plentiful job opportunities. In pursuit of carbon neutrality in Hong Kong, the Govern- ment and all sectors of the society will allocate substantial financial resources to formulate and implement measures to promote energy saving, clean energy, green infrastructure, electrification of transport, waste reduction and recycling, etc., which will not only bring about continuous improvement to the environment, but also an array of opportunities in green economy. 6.2 We estimate that in the next 15 to 20 years, the Government's expenditure on various measures to combat climate change may reach $240 billion. Various private enterprises are also expected to invest heavily in decarbonisa- tion. The enormous demand for financing will accelerate the development of green bonds and other green and sustainable financial products in Hong Kong. Apart from encouraging invest- ment from both the public and private sectors, the decarbonisation transformation will also stimulate and sustain the development of Hong Kong's green economy, support the emergence of green finance technology, expedite circular economy and re-industrialisation, and even create tens of thousands of job opportunities in green industries such as energy supply, recycling, EVs, new energy transport and their supporting industries.