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Power Assets Leads in Carbon Disclosure and Sustainability Indexes

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Power Assets Leads in Carbon Disclosure and Sustainability Indexes

17 Sep 2012

Power Assets is recognized for its efforts in carbon reduction and information disclosure. The solar power system at Lamma Power Station has been expanded to one megawatt.

Power Assets is recognized for its efforts in carbon reduction and information disclosure. The solar power system at Lamma Power Station has been expanded to one megawatt.

Power Assets Holdings Ltd. has become the first Hong Kong company to be included in the Global 500 Carbon Disclosure Leadership Index (CDLI) 2012 in the latest report of the Carbon Disclosure Project (CDP). This is a timely recognition of Power Assets' leadership role having recently been selected as a component of the "Dow Jones Sustainability Asia Pacific Index" and the "Hang Seng Corporate Sustainability Index".

Power Assets is among 51 companies around the world to be included in the "CDP Global 500 CDLI 2012" for its strong approach to information disclosure relating to climate change.

"The inclusion in the 'CDP Global 500 CDLI 2012' together with 50 other international enterprises demonstrates that Power Assets' efforts in carbon reduction, completeness and objectiveness in information disclosure have reached international standards," said Mr. Tso Kai-sum, Group Managing Director of Power Assets. "We are all encouraged by getting into the three indexes."

Power Assets topped the list of the CDP Asia ex-Japan Report in 2011. This year the company has gone beyond Asia to join the global ranks. At the same time Power Assets achieved "AA" rating in the "Hang Seng Corporate Sustainability Index" and entered the "Dow Jones Sustainability Asia Pacific Index" for the first time in recognition of its efforts in corporate sustainability. Only seven Hong Kong companies are included in the Dow Jones index.

Climate change poses a significant challenge to the environment and society and Power Assets recognizes that the energy sector is one of the major contributors of greenhouse gas emissions. The company is, therefore, implementing proactive business strategies to combat the issue and enhance transparency in information disclosure.

As a participant in the CDP, Power Assets has been reporting greenhouse gas (GHG) emissions and efforts in reducing GHG emissions annually. Mr. Tso said: "Through our diversified power portfolio, we deliver cleaner, more efficient and reliable electricity to meet our customers' needs. Moving forward, our strategies will include applying more renewable energy and promoting energy efficiency among our customers."

Currently over 30% of power output by HK Electric, Power Assets' main operating company in Hong Kong, is from natural gas, resulting in a reduction in carbon dioxide emissions of 13.4% in 2011 compared to 2005 prior to introducing natural gas.

In addition to the annual report, Power Assets published an annual Sustainability Report reaching the highest Global Reporting Initiative (GRI) A+ disclosure application level with external independent assurance.

"We are committed to conducting our business in an environmentally responsible manner, while always striving for ways to improve our environmental performance," said Mr. Tso.