Climate Change Data

Environmental Metrics

ESG Focus Areas

• Corporate Governance
• Green and Sustainable Finance
• Environment
• Economic and Social Development
• Policy

Environmental Achievements

• Increased year-on-year by 2% in the area of environment (though a slight decrease in Q2 2024 compared with Q1 2024)
• Tianhe Stadium in Guangzhou to undergo near-zero carbon renovation, projected to achieve energy savings and carbon reduction of over 45%
• 16 GBA companies made commitments to set science-based targets (SBTs), eight successfully set and published their SBTs

Social Achievements

• GBA launched an industry-university-research (IUR) collaborative initiative to accelerate the commercialisation of sci-tech achievements and support the development of New Quality Productive Forces
• In Q2 2024, 11 GBA cities signed a Memorandum of Understanding (MOU) on talent cooperation
• In May 2024, Macao launched the New Round of Nine Talent Recruitment Programme

Governance Achievements

• ESG disclosure rate of listed GBA companies increased from 73% in FY2022 to 76% in FY2023
• Mainland China and Hong Kong released the latest ESG and sustainability reporting guidelines and climate disclosure requirements in Q2 2024
• Over 95% of listed companies which are majority-owned by SOEs have disclosed ESG reports

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions due to climate events (implied)
• Stringent ESG-related requirements for NEV batteries in overseas markets
• EU imposing provisional countervailing duties on imports of BEVs originating in China
• New EU Battery Regulation (EU) 2023/1542 impacting Chinese automobile and power battery companies

Mitigation Strategies

• Chinese automakers accelerating plans to set up production bases in EU countries or those with friendlier EU trading relationships
• Improving the carbon footprint assessment system for products in the automotive industry
• Reducing carbon emissions at the operational level and promoting battery recycling programmes
• Development of China Automobile industry chain carbon publicity platform (CPP)

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: ISSB’s IFRS Sustainability Disclosure Standards, GRI Standards