CLP Steps Up Decarbonisation Efforts for Climate Vision 2050
To accelerate efforts to address climate change, the CLP Group has strengthened its decarbonisation actions to fulfil its Climate Vision 2050 and made climate-related disclosures more transparent in its latest Sustainability Report.
In the 2019 Report, CLP has highlighted commitments to phase out its coal-based assets by 2050 at the latest, and not to invest in any additional coal-fired generation assets, under the updated Climate Vision 2050.
CLP also stays on course to achieve its 2020 carbon intensity target of 0.60kg CO2/kWh, from 0.62kg CO2/kWh in 2019, while the proportions of renewable and non-carbon emitting energy of the generation portfolio increased to 13.7% and 24.9%, respectively.
To help enhance transparency, CLP advanced its disclosure in accordance with the recommendations of the Task Force on Climate-related Financial Disclosures so that stakeholders can better understand how CLP manages climate-related risks and opportunities. Climate scenario analysis was also initiated to assess the ongoing impact of climate change on the business.
CLP also continued to enhance reporting of its greenhouse gas profile along the value chain. For the first time, CLP started to report all of its scope 1, 2 and 3 emissions on an equity basis in 2019 according to the Greenhouse Gas Protocol to provide a more comprehensive overview of its carbon footprint.
Learn more about CLP's performance and outlook: