Carbon Emission Reduction Measures and Strategies

• Climate Vision 2050 is the blueprint of the CLP Group’s transition to net-zero greenhouse gas emissions across its value chain by mid-century. It has informed the Group’s business strategy since its launch in 2007 and supports CLP’s long-term development. Following an extensive target review process between 2023 and early 2024, CLP strengthened its near-term greenhouse gas emissions intensity target for 2030 to bring it closer to the goal of limiting global warming to 1.5°C, while maintaining existing commitments including phasing out coal before 2040.
• On the supply side, CLP Power is implementing a range of strategies, including gradually phasing out coal-fired generation by increasing gas generation capacity as a transition fuel and diversifying natural gas supplies, supporting the development of distributed renewable energy, exploring new energy technologies such as hydrogen produced from non-carbon emitting sources, as well as enhancing regional cooperation, by upgrading the Clean Energy Transmission System, connected to Mainland China, to gain access to more zero-carbon energy sources.
• On the demand side, alongside efforts to enable greater electrification across different sectors of the economy, CLP Power supports its customers in managing their energy use by enhancing energy efficiency in both new and existing buildings, investing in the rollout of smart meters, and decarbonising vehicle fleets.
• For more details about CLPs decarbonisation approach, please visit its website.