Climate Change Data

China New Economy Fund Limited

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:4.65 tonnes of CO2e
Scope 1 Emissions:Nil
Scope 2 Emissions:4.36 tonnes of CO2e
Scope 3 Emissions:0.28 tonnes of CO2e
Total Energy Consumption:6,415 kWh
Waste Generated:117 kg of paper

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Complied with all material relevant laws and regulations in Hong Kong regarding environmental friendliness, health, and safety.
  • Adopted effective measures to conserve energy and reduce waste.
  • Implemented energy and water saving practices, maintaining workplace temperature at a comfortably low level.

Social Achievements

  • Established a remuneration committee to provide a fair and equitable workplace environment for employees.
  • Incorporated guidelines into the Staff Handbook covering all aspects of employment.
  • Complied with all relevant laws and regulations regarding employment, including anti-discrimination laws.
  • Offered training opportunities from external organizations to enhance employee skills.

Governance Achievements

  • Maintained good corporate governance standards.
  • Complied with most principles of the Corporate Governance Code.
  • Established an audit committee, remuneration committee, and nomination committee.
  • Adopted a Board Diversity Policy and Director Nomination Policy.

Climate Goals & Targets

Environmental Challenges

  • Slow recovery of the Chinese economy after the global pandemic.
  • Rising volatility of the Greater China stock market.
  • US interest rate hikes and potential geopolitical escalations.
Mitigation Strategies
  • Maintained a sufficient cash position to capture opportunities.
  • Cautiously monitored investments in view of uncertain market conditions.
  • Implemented an investment strategy emphasizing Greater China and other major global markets.
  • Incorporated funds and private equity into its portfolio to diversify investment risks.

Supply Chain Management

Responsible Procurement
  • Focus on service quality when selecting suppliers.
  • Purchasing from a list of approved suppliers.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: ESG Reporting Guide (Appendix C2 to the Listing Rules)