Climate Change Data

EPI (Holdings) Limited

Climate Impact & Sustainability Data (2022)

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:1714.76 tCO2e/year
Scope 1 Emissions:378.81 tCO2e/year
Scope 2 Emissions:1335.95 tCO2e/year
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:4129.85 MWh/year
Water Consumption:Not disclosed
Waste Generated:667.49 tons/year
Carbon Intensity:21.09 tCO2e/thousand bbl

ESG Focus Areas

  • Environmental Protection
  • Resource Management
  • Employee Well-being
  • Community Well-being
  • Corporate Governance
  • Compliance

Environmental Achievements

  • Invested HK$51,516,000 in solar energy power generation projects, resulting in HK$6,536,000 revenue and HK$1,403,000 operating profit in 2022 (2021: HK$652,000 revenue and HK$89,000 operating profit).
  • Completed abandonment work on two non-producing wells and a bundle of underground pipeline in Canada. The abandonment works have been verified and recognised by Alberta Energy Regulator.

Social Achievements

  • Provided epidemic prevention materials and rapid antigen test kits to employees, and facilitated “work from home” arrangement during the COVID-19 pandemic.
  • Maintained an effective Board comprising members of different genders, professional background and industry experience.
  • Overall employee turnover rate of 30.43% in 2022.

Governance Achievements

  • Complied with all applicable provisions of the Corporate Governance Code (CG Code) except for the separation of Chairman and CEO roles (due to vacancies).
  • Established an ESG governance structure with clear duties and responsibilities.
  • Adopted an anti-fraud and counter-corruption policy and a whistleblowing policy.

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Gradually reduce the Group’s energy consumption intensity (MWh/thousand bbl) over the next five years, using 2022 as the baseline year.
  • Conduct annual activities to raise awareness of energy conservation among employees.
Short-term Goals:
  • Gradually reduce the Group’s GHG emissions intensity (tCO2e/thousand bbl) over the next five years, using 2022 as the baseline year.
  • Conduct annual activities to raise awareness of waste reduction among employees.

Environmental Challenges

  • Lower average amount of performing loans advanced to borrowers in the money lending business.
  • Significant increase in GHG emissions intensity in 2022 due to the inclusion of Canadian Oil Assets.
  • Significant increase in non-hazardous waste intensity in 2022 due to the inclusion of Canadian Oil Assets.
  • Significant increase in energy consumption intensity in 2022 due to the inclusion of Canadian Oil Assets.
  • Heightened political and economic tensions between China and the US, and the war between Russia and Ukraine causing significant volatilities to international prices of oil and gas.
  • The completion time of acquiring the Canadian Oil Assets in July 2022 was later than envisaged, impacting the 2022 drilling plan.
Mitigation Strategies
  • Implemented measures to reduce waste production and regularly monitors the waste production level.
  • Engaged qualified subcontractors to collect, manage and dispose of all hazardous wastes.
  • Implemented measures to reduce waste papers and promote “green office” concepts.
  • Exploring ways to lower the use of purchased electricity for the Canadian Oil Assets operation through the use of natural gas, or other renewable energy generation methods.
  • Diversifying the Group’s businesses and investments.
  • Continuing efforts in enlarging the market share and enhancing the market competitiveness of the money lending business.
  • Maintaining comprehensive insurance coverage on assets that are prone to damage by extreme weather conditions.
  • Regularly monitoring existing and emerging climate-related trends, policies and regulations and seeking compliance consulting services.

Supply Chain Management

Supplier Audits: 96 suppliers and service providers have gone through the Group’s supplier management procedures.

Responsible Procurement
  • Selecting suppliers based on product/service quality, reliability, price competitiveness, environmental performance, labour practices, social responsibility, and moral standards.

Climate-Related Risks & Opportunities

Physical Risks
  • Increase in severity of extreme weather events such as stronger typhoons and floods, may interrupt the water and electricity supplies, damage the Group’s properties, as well as threaten the safety of the Group’s employees.
Transition Risks
  • Increasingly stringent policies and regulations in relation to climate change.
  • Higher cost, lower returns or asset devaluation for high-carbon emitting industry.
  • Impact to the Group’s investment and financing activities regarding related industries.
Opportunities
  • Exploring and capitalising on potential opportunities arising from the increasing awareness on environmental protection, as well as to advocate the global vision of decarbonisation by producing clean and renewable solar energy.

Reporting Standards

Frameworks Used: Appendix 27 to the Listing Rules

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Solar energy power generation projects

Awards & Recognition

  • Not disclosed