The Hub Power Company Limited

Climate Impact & Sustainability Data (2019-07 to 2020-06, 2021)

Hub Office certified as Green Office by WWF.
Implementation of DuPont Safety Management System across operational sites.
Thar Energy Limited (TEL) and ThalNova Power Thar (Private) Limited (TNPTL) received environmental NOCs from Sindh Environmental Protection Agency.

Launched several COVID-19 relief programs providing basic amenities and health support to communities around plants.
Continued regular CSR programs in education, health, livelihood, and infrastructure development.
Implemented fortnightly pulse surveys to understand employee engagement and improve productivity.
Launched a comprehensive online training program for employees.
Maintained a Total Recordable Injury Rate (TRIR) of 0.12 across three operational power stations.

Compliance with Corporate and Financial Reporting Framework of the Securities & Exchange Commission Pakistan (SECP) and the Code of Corporate Governance.
Establishment of Board Audit Committee, Board Nomination & Compensation Committee, and Board Investment Committee.
Implementation of a circumspect and cautious rationale to mitigate risks and uncertainty.

Medium-term Goals:

ThalNova Power Thar (Private) Limited (TNPTL) targets COD in mid-2022 (24% complete).

Short-term Goals:

Challenging business environment due to COVID-19 pandemic and economic slowdown.
Significant pressure on the power sector due to circular debt, overdue receivables, and transmission and dispatch losses.
Devaluation of the Rupee affecting new equity investments and project financing.
Delays in payments and circular debt constraining cash flows.
Low load factors for RFO-based plants due to low demand.

Implemented a carefully planned strategy to ensure employee safety and business continuity during COVID-19.
Actively pursuing public-private partnerships in water utility and renewable energy.
Implementing a circumspect and cautious rationale to mitigate risks and uncertainty.
Vigorous efforts for operational excellence to optimize thermal efficiency and availability.
Negotiations with the Government regarding overdue payments and economic recovery initiatives.

Frameworks Used: IFRS, Companies Act, 2017

Third-party Assurance: A.F. Ferguson & Co., Chartered Accountants

84 MW New Bong Escape Hydropower Project (Laraib Energy) registered under CDM project of UN; compliance with ESMP and NEQS for air emissions and wastewater; HUBCO Head Office certified as Green Office by WWF.

CSR programs in education, livelihood, philanthropy, and health infrastructure; support for transgender community; equal employment opportunities; numerous schools established in partnership with TCF; scholarships for female students; technical training apprenticeship program; clean water supply to communities; free medical camps.

Compliance with Code of Corporate Governance; transparent stakeholder communications; Code of Business Ethics; zero-tolerance policy against corruption; Business Continuity and Disaster Recovery Plans; Annual CEO Performance Review; Speak Up Policy; Succession Plan.

Medium-term Goals:

Lower dispatch to RFO-based units impacting energy revenue; high interest rates and significant rise in circular debt impacting liquidity and dividend payments.

Negotiations with GoP leading to settlement of 40% overdue receivables; interest rate cut; expected dividends from CPGHC; balance 60% payment of overdue receivables.

Certificate of Merit for Best Corporate Report, 2020
Gender Diversity at Workplace Award, 2020
Notable Growth in Women Empowerment Award, 2020
Corporate Excellence Award, 2019 and 2020
Pakistan Stock Exchange Top -25 Companies
GE Digital Global Innovator of the Year Award, 2017
Thar Energy Limited showcased as Power Deal of the Year at Asset Asian Award, 2019
9th CSR Award, 2017
Best Corporate Report Award, 2015 -16
Annual Environmental Excellence Award, 2016
CSR Business Excellence Award, 2015
SAFA Best Presented Annual Report Award, 2012