Climate Change Data

Comtec Solar Systems Group Limited

Climate Impact & Sustainability Data (2022)

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:535.9 tCO2e/year
Scope 1 Emissions:63.8 tCO2e/year
Scope 2 Emissions:472.1 tCO2e/year
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:596.0 mWh/year
Water Consumption:18745.3 t/year
Waste Generated:Not disclosed
Carbon Intensity:0.014 tCO2e/HK$’000 (2022)

ESG Focus Areas

  • Climate Change
  • Employee Well-being
  • Supply Chain Management
  • Product Responsibility
  • Anti-corruption

Environmental Achievements

  • Maintained waste emissions intensity (by full-time employees) at zero in 2022.
  • Reduced water consumption by 23.6% from 2021 to 2022.

Social Achievements

  • Provided 866 training hours in 2022 (2021: 912 hours).
  • Implemented various safety measures to protect employees during the Covid-19 pandemic (flexible work arrangements, mandatory body temperature checks, etc.).

Governance Achievements

  • Established a whistleblowing policy for misconduct reporting.
  • Provided four-hour anti-corruption training to management and general staff.

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Maintain waste emissions intensity at zero by 2025.
  • Reduce purchased electricity consumption intensity by 24.5% by 2025 (relative to 2020).
  • Achieve a 32% reduction in water usage by 2025 (compared to 2020).

Environmental Challenges

  • Shanghai shutdown due to Covid-19 pandemic significantly affected production and sales of power storage in 2022.
  • Net loss of approximately RMB50,689,000 for 2022 and net current liabilities and net liabilities of approximately RMB192,258,000 and RMB164,153,000 respectively as at 31 December 2022.
  • Auditor cast doubt about the Group’s ability to continue as a going concern.
Mitigation Strategies
  • Disposal of properties for RMB180 million to improve liquidity.
  • Share subscription agreements to repay borrowings and improve working capital.
  • Negotiations with creditors to explore deleveraging and restructuring proposals.
  • Strict control of operating and investing activities.
  • Commitment from Mr. Zhang and Mr. Dai Ji to provide financial support.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Open, fair and transparent criteria in selecting suppliers.
  • Green procurement.

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme precipitation
  • Typhoons
  • Floods
  • Thunderstorms
Transition Risks
  • Enhanced emissions-reporting obligations
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: HKEx ESG Reporting Guide

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed