Climate Change Data

Chow Tai Fook Jewellery Group Limited

Climate Impact & Sustainability Data (2023-04 to 2024-03)

Reporting Period: 2023-04 to 2024-03

Environmental Metrics

Total Carbon Emissions:63,932 tCO2e/year
Scope 1 Emissions:2,507 tCO2e/year
Scope 2 Emissions:60,733 tCO2e/year
Scope 3 Emissions:722 tCO2e/year
Renewable Energy Share:Not disclosed
Total Energy Consumption:424,492 GJ/year
Water Consumption:522,185 m3/year
Waste Generated:645 tons/year
Carbon Intensity:0.59 tCO2e/HK$1 million revenue

ESG Focus Areas

  • Craftsmanship
  • People Focused
  • Responsible Sourcing
  • Resource Efficiency & Carbon Reduction

Environmental Achievements

  • Reduced GHG emissions intensity by 34% compared to FY2019
  • Reduced water use intensity by 44% compared to FY2019
  • Reduced waste intensity from production by 60% compared to FY2019
  • Adopted solar energy, upgraded air-conditioning systems, and implemented energy-saving measures, resulting in significant electricity savings.
  • Installed a greywater treatment system in Shunde production hub, reusing approximately 15,300 m3 of wastewater.

Social Achievements

  • Provided over 994,000 training hours to employees
  • Employees volunteered over 15,000 hours
  • Donated HK$34.5 million to community initiatives
  • Launched DEI pilot workshop to promote inclusivity
  • Established a Diversity, Equity and Inclusion (DE&I) Policy

Governance Achievements

  • Completed a double materiality assessment to identify key ESG issues
  • Optimized the Code of Conduct and implemented relevant training
  • Enhanced the grievance mechanism with a centralized digital platform
  • Strengthened cybersecurity measures and conducted a third-party audit in accordance with the NIST Cybersecurity Framework

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Reduce GHG emissions, energy consumption, water usage, and waste generation intensity of production hubs by at least 50% compared to FY2019
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Insufficient understanding of significant environmental, social, and governance issues
  • Climate change risks (flooding, rising temperatures, carbon pricing)
  • Cybersecurity risks
Mitigation Strategies
  • Heightened Board leadership and oversight on sustainability issues through training and workshops
  • Implemented measures to reduce carbon footprint, optimize energy efficiency, and use renewable energy
  • Developed a comprehensive crisis management plan and framework
  • Established an IT governance structure and incorporated cybersecurity risks into the Enterprise Risk Management Process

Supply Chain Management

Supplier Audits: Third-party audits conducted on 16 key suppliers in Mainland China, on-site inspections on 37 product suppliers (40% of preferred suppliers)

Responsible Procurement
  • Best Practice Principles for Suppliers (BPPS)
  • Due diligence on 96% of active diamond suppliers
  • Green procurement guidelines

Climate-Related Risks & Opportunities

Physical Risks
  • Flooding/heavy precipitation
  • Rising mean temperatures
Transition Risks
  • Introduction of carbon pricing
Opportunities
  • Increased consumer preference for low-carbon goods and services

Reporting Standards

Frameworks Used: HKEX ESG Reporting Guide, GRI Sustainability Reporting Standards, TCFD

Certifications: ISO 14001, ISO 45001, ISO 9001, ISO 18323:2015

Third-party Assurance: SGS Hong Kong Limited

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Recycled gold
  • Environmentally friendly packaging materials

Awards & Recognition

  • Dow Jones Sustainability Asia Pacific Index
  • FTSE4Good Developed Index
  • S&P Global Sustainability Yearbook (China) 2023
  • Numerous other awards related to quality service, corporate governance, and ESG performance