AV Promotions Holdings Limited
Climate Impact & Sustainability Data (2022, 2023)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:62.10 tonnes of CO2-e
Scope 1 Emissions:19.71 tonnes of CO2-e
Scope 2 Emissions:42.39 tonnes of CO2-e
Total Energy Consumption:131.04 MWh
Water Consumption:1,068.70 m3
Waste Generated:1.96 tonnes
Carbon Intensity:1.11 tonnes of CO2-e/employee
ESG Focus Areas
- Environmental protection and green operations
- Corporate governance
- Product responsibility
- Employment
- Community
Environmental Achievements
- Decreased air pollutant emissions due to fewer events and energy-saving strategies.
- Decreased GHG emissions due to fewer events and energy-saving strategies.
Social Achievements
- Maintained a safe working environment with no work-related injuries.
- Provided training to 100% of employees.
Governance Achievements
- Established an ESG committee.
- Complied with relevant laws and regulations regarding environmental protection, employment, and operating practices.
Climate Goals & Targets
Long-term Goals:
- Achieve zero carbon emission in our business.
Short-term Goals:
- Reduce air pollutant emissions by 5% by 2025.
- Reduce GHG emissions by 5% by 2025.
- Reduce non-hazardous waste by 5% by 2025.
- Reduce total energy consumption by 5% by 2025.
- Reduce water consumption by 5% by 2025.
Environmental Challenges
- Pandemic rebound in the PRC affecting business operations.
- City-wide lockdowns in Shanghai causing business stagnation.
- Postponement, rescheduling, or cancellation of events due to the pandemic.
- Significant decrease in revenue and number of events.
- Net loss of approximately HK$53.5 million.
Mitigation Strategies
- Maintaining a prudent financial policy.
- Actively seeking business opportunities.
- Carefully evaluating each project to increase returns.
- Exploring business opportunities in other live events industry segments.
- Widening geographical coverage to broaden income sources.
Supply Chain Management
Responsible Procurement
- Engaging local suppliers to minimize carbon footprint.
- Conducting regular reviews of major suppliers to ensure no material negative environmental or social impact.
- Thorough inspections of goods to ensure safety and compliance with standards.
- Strict supplier selection procedure based on quality, track record, reputation, and sustainability.
Climate-Related Risks & Opportunities
Physical Risks
- Increased severity and frequency of extreme weather events.
- Changes in precipitation patterns and extreme variability in weather patterns.
Transition Risks
- Energy efficiency requirements and carbon-pricing mechanisms.
- Mandates and regulations on service provision.
- Exposure to litigation risk.
- Changes in customer preference.
- Inability to attract co-financiers and/or investors.
- Risk of stigmatisation of the business sector.
Opportunities
- Resource efficiency gains and cost reductions.
- Returns on investment in low-emission technology.
- New solutions to adaptation needs.
- Access to new and emerging markets.
- Market valuation increases through resilience planning.
Reporting Standards
Frameworks Used: GRI
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:208.48 tonnes of CO2-e (2022: 131.08)
Scope 1 Emissions:28.17 tonnes of CO2-e (2022: 25.50)
Scope 2 Emissions:115.10 tonnes of CO2-e (2022: 105.58)
Scope 3 Emissions:65.21 tonnes of CO2-e (2022: N/A)
Total Energy Consumption:291.94 MWh (2022: 232.67)
Water Consumption:704.00 m3 (2022: 1,068.70)
Waste Generated:2.40 tonnes (2022: 1.96)
Carbon Intensity:1.38 tonnes of CO2-e/employee (2022: 0.82)
ESG Focus Areas
- Environmental protection and green operations
- Corporate governance
- Product responsibility
- Employment
- Community
Environmental Achievements
- Reduced air pollutant emissions by achieving the target of 5% reduction in 2025 against the 2022 baseline.
- Achieved the target of 5% reduction in water consumption by 2025 against the 2022 baseline.
Social Achievements
- Maintained a safe working environment with no work-related injuries during the reporting period.
- Provided training to 148 employees (2022: 172), with an average of 37.9 training hours per employee (2022: 13.0).
Governance Achievements
- Established an ESG committee to oversee ESG-related issues and risks.
- Complied with all applicable laws and regulations related to corruption, bribery, extortion, fraud, and money laundering.
Climate Goals & Targets
Short-term Goals:
- Reduce air pollutant emissions by 5% by 2025 against the 2022 baseline.
- Reduce non-hazardous waste by 5% by 2025 against the 2022 baseline.
- Reduce total energy consumption by 5% by 2025 against the 2022 baseline.
- Reduce water consumption by 5% by 2025 against the 2022 baseline.
Environmental Challenges
- Material uncertainties that may cast significant doubt about the Group’s ability to continue as a going concern due to net loss and exceeding current liabilities over current assets.
- Potential damage to office equipment, machinery, and facilities due to increased severity and frequency of extreme weather events.
- Increased operating costs due to extreme weather events and negative impacts on workforce.
- Increased capital investment and expenditures to support national decarbonisation strategies and comply with national policies.
- Increased resources required to ensure full disclosure and compliance with emerging ESG Reporting standards.
- Reduced revenue due to the inability to attract co-financiers and/or investors with the uncertain risks related to the climate.
- Reduced revenue from decreased demand for the Group’s goods/services due to reputational risks.
Mitigation Strategies
- Implementing business strategies to secure more projects and enhance operation efficiency.
- Reducing direct operating costs and controlling administrative and other operating expenses.
- Exploring other possible financing options to strengthen liquidity.
- Reducing addition of property, plant and equipment based on cash flow position.
- Establishing a natural disasters emergency plan.
- Devising an action plan to articulate the goals and targets of reductions in GHG emission and energy consumption.
- Planning improvements, retrofits, relocations, or other changes to facilities to reduce vulnerability to climate impacts.
- Conducting a carbon footprint survey to prioritize energy and waste reductions.
- Monitoring updates of relevant environmental laws and regulations.
- Engaging professionals to carry out ISO9001 audit.
- Continuing monitoring of ESG reporting standards of the Listing Rules of the Stock Exchange.
- Examining the feasibility and benefits of applying the latest environmental technologies.
- Prioritizing climate change as a high concern in market decisions.
- Fulfilling climate-related regulations by governments.
- Organizing more public relation activities to show importance on climate change.
- Reviewing exhibitions, ceremonies, conferences, TV shows, product launches, and concerts production/organization process to ensure environmental friendliness.
Supply Chain Management
Supplier Audits: Regular reviews of key suppliers
Responsible Procurement
- Competitive tendering
- Objective evaluation of tenders
- Adoption of appropriate forms of contract
- Adoption of effective monitoring systems
- Environmental-friendly requirements
Climate-Related Risks & Opportunities
Physical Risks
- Increased severity and frequency of extreme weather events
- Increased frequency of extreme weather events and rising sea levels
- Increased temperature
Transition Risks
- Heightened ambition of national decarbonisation strategies
- Increased exposure to litigation risk
- Increased adoption of low-carbon technologies
- Heightened public awareness about climate-related risks
Opportunities
- Resource efficiency
- Energy source
- Products and services
- Markets
- Resilience
Reporting Standards
Frameworks Used: GRI