HK Electric Investments is committed to operating our business in a responsible and transparent manner, taking into consideration international consensus and industry best practices.
Among these are the United Nations' Sustainable Development Goals (SDGs), out of which we have pledged to support three that are closely aligned with our corporate strategies and business priorities:
- Goal 7: Affordable and Clean Energy
- Goal 9: Industry, Innovation and Infrastructure
- Goal 13: Climate Action
To help achieve these SDGs, we have developed corresponding internal targets as illustrated and reported in our Sustainability Reports:
Particularly on climate action, in support of Hong Kong's zero-carbon transition under the city's Climate Action Plan 2050, HK Electric Investments targets to achieve carbon neutrality in our operations before 2050 in the long term.
We have updated our science-based carbon reduction target and committed to reduce scope 1 greenhouse gas emissions 68.4% per kWh of electricity generated by 2035 from a 2019 base year. As we run a vertically integrated utility business, all of our electricity consumed is generated by ourselves and the associated scope 2 emissions are covered in our scope 1 emissions.
This target aligns with the Paris Agreement and is in line with a well-below 2°C trajectory. It has been validated and approved by the Science Based Targets initiative.