Climate Change Data

CITIC Pacific Limited

Climate Impact & Sustainability Data (2022)

Reporting Period: 2022

Environmental Metrics

ESG Focus Areas

  • Climate Change
  • Energy Management
  • Carbon Emissions Reduction
  • Water Management
  • Waste Management
  • Occupational Health and Safety
  • Human Capital Development
  • Employee Well-being
  • Business Ethics and Integrity
  • Community Development
  • Community Relations
  • Product Safety and Quality
  • Customer Wellbeing

Environmental Achievements

  • Completed installation of a 90MW photovoltaic power generation system, supplying 100GWh of electricity annually (CITIC Pacific Special Steel)
  • Sino Iron project delivers up to 10% lower carbon emissions across the steel supply chain compared to typical Pilbara direct shipping ore mines.
  • Dah Chong Hong's solar power system at Food and Logistics Center reduced carbon emissions by more than 400 tonnes per year.
  • CITIC Pacific Energy increased installed capacity of distributed photovoltaic power to 243MW.

Social Achievements

  • CITIC Pacific Future Business Leader Trainee Programme won the bronze award for “Excellence in Early Career Development”
  • No material non-compliance incidents related to occupational health and safety laws and regulations in 2022.
  • Various staff wellness programs implemented across subsidiaries.
  • Dah Chong Hong organised work experience programs for youth from low-income backgrounds.

Governance Achievements

  • Established a comprehensive risk management and internal control system.
  • Adopted a Code of Conduct to uphold high standards of integrity.
  • Implemented a whistle-blowing policy.

Climate Goals & Targets

Long-term Goals:
  • Support China’s target of achieving carbon neutrality by 2060.
Short-term Goals:
  • Increase installed photovoltaic capacity by 600MW year-on-year, achieving 1800MW by the end of 2025 (CITIC Pacific Energy)
  • Achieve a total capacity of 2800MW of centralised wind power generation by the end of 2025 (CITIC Pacific Energy)

Environmental Challenges

  • Climate change physical risks (extreme weather, flooding)
  • Climate change transition risks (policy changes, market shifts)
  • Carbon-intensive nature of special steel, energy, and mining industries.
Mitigation Strategies
  • Developed crisis management plans for extreme weather events.
  • Developed low-carbon products and processes.
  • Increased investment in renewable energy sources and energy efficiency enhancements.
  • Implemented carbon management strategies across business segments.
  • Exploring innovative low-carbon technologies (e.g., hydrogen-powered furnace).

Supply Chain Management

Responsible Procurement
  • Vendor Management System (CITIC Pacific Special Steel)
  • Procurement policies at CITIC Pacific and subsidiary levels
  • Supplier selection guidelines and screening processes

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events
  • Flooding
Transition Risks
  • Policy changes
  • Market shifts
  • Technological development
Opportunities
  • Development of energy-efficient products
  • Investment in renewable energy sources

Reporting Standards

Frameworks Used: GRI, UN Sustainable Development Goals (UNSDGs)

Certifications: ISO 9001, ISO 14001, ISO 22000, ISO 45001, ISO 13485

Awards & Recognition

  • Award of Excellence
  • Platinum Award