•You will hear a speech at the Sustainable Business in East Asia Conference.•As

Good morning ladies and gentlemen.
     When I was a very small boy just a few years old in the 50’s, we used to have a race called Cross Harbour Swimming  Contest  and  at  that  time whoever jumped off on Kowloon side and swam to Hong Kong side, and whoever finished crossing the harbour won the race. It was cancelled about two decades ago simply because the harbour was getting so dirty. Maybe not quite to the extent that Victor has so grimly and so vividly described just a few minutes ago, but it was cancelled because the water was simply so unsafe that anybody who jumped into the water might not emerge on the other side. The people actually put in very intense efforts about a decade ago because we wanted to clean up our harbour. So, for many of you visitors to Hong Kong, I hope you have a chance to enjoy one of the bargain tourist attractions of the world, which is to take a ride on the Star ferry going from Hong Kong to Kowloon and back, and you will find that the meaning of Hong Kong is a fragrant harbour and it doesn’t stink Any more. I do urge you to try that most popular and best bargain tourism destination in the world.
      The  strong  business  participation  in  today’s conference has demonstrated that sustainability is lot a threat to business. It is also clear, from the rack   records   of   many   businesses,    that sustainability is not a gimmick nor is it a fad. To take the Hong Kong experience as an example: for at least a decade now, some of Hong Kong’s most prominent and successful companies have been. progressively taking on the idea of sustainability in their business plans and practices.  It is also the private sector  that has been  behind—and  has funded—two important initiatives;  the Business Environment Councih  and the Association for Sustainable and Responsible Development in Asia. They  promote   sustainable   development  and responsible investment practices in this region. A number of well-established advocacy groups and think tanks have also successfully brought issues of environmentalism  and  sustainability  into  our public ’ s minds.
      Sustainable business involves using resources in a responsible manner. It is being aware of long-term viability and not just short-term balance sheet profits;  and,  above  all,  transparency.  In  a market-driven economy, such as Hong Kong’s, it is absolutely right that the private sector should play a leading role in promoting and adopting all these objectives. The progress so far shows that there is vision, and consensus in our private sector, that go well beyond the bottom line.