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)