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CLP Holdings Limited is one of the largest investor-owned power businesses in Asia-Pacific., with businesses and services across Hong Kong, Mainland China, India, Southeast Asia, Taiwan and Australia. CLP has been powering Hong Kong’s development for over 100 years in a reliable manner, providing services to over 80% of Hong Kong’s population since the year 1901.
CLP’s materiality assessment was identified and updated in 2018. In 2020, an internal review was performed to assess whether the material topics identified can still continue to be valid and to evaluate the impacts of the external environment on the Company. CLP’s value chain touches on generation, transmission and distribution, customers, and dynamic system balance, to which its identified four material topics, namely Responding to Climate Change, Harnessing the Power of Technology, Reinforcing Cyber Resilience and Data Protection, and Building an Agile, Inclusive and Sustainable Workforce, are directly or indirectly linked.
Under the topic of Responding to Climate Change, CLP is gradually aware that the electric utility industry is currently offering a golden opportunity to and playing an increasingly vital part in tackling climate change. “The IEA WEO 2020 Sustainable Development Scenario (SDS), for example, projects that the share of coal in the generation mix falls rapidly from 37% in 2019 to 5% in 2040”. Meanwhile, the burgeoning renewable energy industry will replace fossil fuel generation assets constitute a larger share of electricity generation. For the topic of building an agile, inclusive and sustainable workforce, the key concerns to CLP are the creation of secure and resilient workplaces, employee retention, organisation agility and the promotion of diversity and inclusion.
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