Climate Change Data

HK Electric Investments and HK Electric Investments Limited

Climate Impact & Sustainability Data (2022, 2023)

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:6.77 million tCO2e
Scope 1 Emissions:6.77 million tCO2e
Scope 2 Emissions:0
Scope 3 Emissions:1.07 million tCO2e
Water Consumption:1,816 million m3 (marine water)
Waste Generated:123 kT ash (collected for industrial use), 45 kT gypsum (collected for industrial use), 25 kT construction waste (recycled)

ESG Focus Areas

  • Environment
  • Health & Safety
  • Customer Service

Environmental Achievements

  • Reduced CO2 emissions from 7.39 million tonnes in 2021 to 6.77 million tonnes in 2022 (direct GHG emissions)
  • 100% compliance with environmental licenses

Social Achievements

  • Zero fatalities and zero lost time injuries in 2022 for employees
  • Average customer satisfaction rating of 4.7 (out of 5)

Governance Achievements

  • Maintained ISO 14001, ISO 50001, ISO 9001, ISO 27001, and ISO 55001 certifications

Climate Goals & Targets

Environmental Challenges

  • Prolonged maintenance issue with critical equipment leading to increased SO2 emissions in 2022
Mitigation Strategies
  • Maintenance and repair of the critical equipment

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: ISO 14064-1:2018

Certifications: ISO 14001, ISO 50001, ISO 9001, ISO 27001, ISO 55001, ISO 45001

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:6.64 million tCO2e
Scope 1 Emissions:6.64 million tCO2e
Scope 2 Emissions:0
Scope 3 Emissions:1.08 million tCO2e
Water Consumption:1.749 million m3 (seawater)
Waste Generated:39 kT (construction waste)
Carbon Intensity:0.66 kgCO2e/kWh

ESG Focus Areas

  • Climate change
  • Environmental management
  • Customer service
  • Community care
  • Employee care and safety
  • Supply chain management
  • Corporate governance
  • Innovation

Environmental Achievements

  • ~33% reduction in carbon emissions as compared to 2005
  • ~0.66 kg/kWh carbon intensity (CO2e per electricity unit sold)
  • Full compliance with stipulated emissions caps for sulphur dioxide, nitrogen oxides and respirable suspended particulates
  • >10 GWh of green electricity generated from renewable energy installations
  • Offshore liquefied natural gas terminal commissioned in July

Social Achievements

  • >99.999% supply reliability rating for 27 consecutive years
  • ~4.7 average customer satisfaction rating on a 5-point scale
  • ~52,000 households subsidised under Smart Power Care Fund
  • >10,000 elders connected through “CAREnJOY for the Elderly”
  • $95 million allocated for various relief measures, including $55 million to help disadvantaged households

Governance Achievements

  • No instances of material non-compliance with laws and regulations in 2023
  • No ongoing or concluded legal cases regarding corrupt practices
  • Ranked among Hong Kong’s top twenty Most Attractive Employers

Climate Goals & Targets

Long-term Goals:
  • Net zero emissions before 2050
  • Cease using coal for daily electricity generation by 2035
Medium-term Goals:
  • Increase aggregate electricity generated from RE sources to over 15 GWh/year by 2028
  • Complete full-scale smart meter deployment by 2025
  • Reduce carbon emissions per electricity unit sold to not exceed 0.5 kg of CO2e per kWh by 2029
Short-term Goals:
  • Reduce electricity, water and paper consumption, as well as waste generation by 2025
  • Complete retrofitting work for substations situated within 100 m of coastline by 2024

Environmental Challenges

  • Power interruption incident on 19 April 2023 affecting around 44,000 customers
  • Rising fuel costs associated with cleaner energy
  • Labour supply challenges
Mitigation Strategies
  • Thorough investigation and implementation of follow-up actions to prevent reoccurrence of power interruption
  • Targeted support for customers experiencing economic hardship
  • Strive to retain experienced professionals and recruit young people

Supply Chain Management

Supplier Audits: 56 suppliers evaluated for environmental and social performance in 2023

Responsible Procurement
  • Code of Practice for Suppliers
  • Green Purchasing Policy
  • Sustainable Procurement Charter

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events
  • Flooding
  • Wave overtopping
Transition Risks
  • Rising fuel costs
  • Regulatory changes
Opportunities
  • Development of energy-efficient products and services
  • Importation of zero-carbon energy

Reporting Standards

Frameworks Used: GRI, HKEX ESG Reporting Guide, SASB Standards for Electric Utilities and Power Generators, TCFD

Certifications: ISO 14001, ISO 50001, ISO 45001, ISO 9001, ISO 55001, ISO 27001

Third-party Assurance: Hong Kong Quality Assurance Agency (HKQAA)

UN Sustainable Development Goals

  • Goal 7
  • Goal 8
  • Goal 9
  • Goal 11
  • Goal 12
  • Goal 13

Targets established to gauge progress towards achieving these SDGs

Sustainable Products & Innovation

  • Green mobile emergency power supply system

Awards & Recognition

  • Sustainable Procurement Award
  • Gold award for Corporate Sustainability
  • Happy Company
  • Privacy-Friendly Gold Award