Strategic Framework
PURPOSE
CLP provides sustainable energy solutions to create value for shareholders, customers, employees and the wider community. We aim to be the leading responsible energy provider in the Asia-Pacific region, from one generation to the next.
STRATEGY
Through our values and commitments, we work every day to grow our business and meet our strategic priorities: creating a sustainable business portfolio; accelerating our response to climate change for our business and the communities we operate in; serving growing demand for energy solutions; leveraging technology to deliver leading customer experiences and enhance operating performance; and investing to build an agile and innovative workforce.
Double Materiality Assessment
Material ESG Topics:
Financially material
Shaping and executing the transition to net zero
Bolstering energy security and reliability
Pursuing energy growth opportunities in our core markets
Building an agile and innovative workforce
Reinforcing resilience in a changing operating environment
Aligning business activities with community, employee and customer expectations
Impact material
Megatrends Analysis
STRATEGIC PRIORITIES
1
-
Continue to grow a sustainable business portfolio
-
- Growing provision of energy solutions in the Asia-Pacific region underpinned by capital discipline
2
-
Accelerate our response to climate change
-
- Accelerate decarbonisation of CLP’s portfolio, reinforce resilience in a changing climate and manage social impact
3
-
Serve growing demand for energy solutions
-
- Pursue growth opportunities from energy infrastructure, Energy-as-a-Service and customer-facing energy solutions
4
-
Leverage technology for experience and performance
-
- Deliver leading customer experiences and empower customers in making better energy choices
- Adopt technologies to enhance operating performance and drive new business
5
-
Invest to build an agile, innovative workforce
-
- Invest to build organisational agility and develop future skills
- Support CLP’s people to thrive in change, promoting health and wellbeing
HOW WE MEASURE SUCCESS
KEY PERFORMANCE INDICATORS
1. Continue to grow a sustainable business portfolio
TOTAL EARNINGS
HK$
924
million
2021: HK$8,491 million
OPERATING EARNINGS
HK$
4,623
million
2021: HK$9,517 million
DIVIDENDS
HK$
7,832
million
2021: HK$7,832 million
ELECTRICITY SENT OUT
87,360
million kWh
2021: 91,183 million kWh
RETAIL CUSTOMER ACCOUNTS IN
HONG KONG AND AUSTRALIA
HONG KONG AND AUSTRALIA
5.21
million
2021: 5.15 million
ENVIRONMENTAL REGULATORY
NON-COMPLIANCE
NON-COMPLIANCE
2. Accelerate our response to climate change
GREENHOUSE GAS EMISSIONS INTENSITY
0.55
kg CO2e/kWh
2021: 0.57kg CO2e/kWh
RENEWABLE ENERGY CAPACITY
3,611
MW
2021: 3,624MW
RESILIENCE PROJECTS AND INVESTMENTS
- Climate change adaptation study for CLP Power to strengthen climate risk management
- Apraava Energy climate risk assessment on potential impacts of changing weather patterns
RELIABILITY IN HONG KONG
99.997%
2021: 99.999%
OPERATING EARNINGS1
(BEFORE UNALLOCATED EXPENSES)
BY ASSET TYPE
(BEFORE UNALLOCATED EXPENSES)
BY ASSET TYPE
Total:
HK$9,065
million2
HK$9,065
million2
Coal
Gas
Nuclear
Renewables
Transmission, distribution and retail
Others
Notes:
- Any minor discrepancies in totals are due to rounding of figures.
- Excluding EnergyAustralia’s fair value movements.
CAPITAL INVESTMENT1
(ON ACCRUAL BASIS)
BY ASSET TYPE
(ON ACCRUAL BASIS)
BY ASSET TYPE
Total:
HK$17,849
million2
HK$17,849
million2
Coal
Gas
Renewables
Transmission, distribution and retail
Others
Notes:
- Any minor discrepancies in totals are due to rounding of figures.
- Capital investments in coal assets include maintenance, upgrades and efficiency improvements only.
3. Serve growing demand for energy solutions
INITIATIVES / INVESTMENTS IN NEW PRODUCTS AND SERVICES
- MoU with Longhua District People’s Government of Shenzhen Municipality on energy digitalisation
- Partnership with Venturous Group on smart energy technologies in the GBA
- MoU with ESR to develop sustainable data centres and logistics centres
- Joint venture with TGOOD to develop EV charging infrastructure in the GBA
- Partnership with SEA Electric to accelerate the transition to clean energy for truck fleets in Australia
ADOPTION OF NEW PRODUCTS AND SERVICES
- Distributed solar project at MTR Shenzhen headquarters in Longhua
- Joint initiative with DBS Hong Kong on sustainable financing for businesses linked to energy efficiency
- Build Hong Kong’s first zero-carbon chiller system at Nina Tower with Chinachem
- Cooling-as-a-Service contract with SOCAM Development for Shui On Centre in Hong Kong
- Solar energy systems for shopping centres of Link Properties
- Hong Kong’s biggest EV charging infrastructure project at The Regalia
4. Leverage technology for experience and performance
CLP POWER CUSTOMER SATISFACTION SCORE
72
2021: 73
NET PROMOTER SCORE FOR ENERGYAUSTRALIA
-6.9
2021: -6.7#
#2021 figure has been restated
SMART METERS
over
1.78
million smart meters
connected for Hong Kong customers since 2018
over
0.61
million smart meters
connected for EnergyAustralia’s customers in 2022
DIGITAL ADOPTION
- Strong growth in digitalisation for CLP Power, with more than 60% of customer account activities conducted through online channels
FEED-IN TARIFF SCHEME IN HONG KONG
336
MW
approved or connected to grid
since May 2018
since May 2018
RENEWABLE ENERGY CERTIFICATES SALES IN HONG KONG IN 2022
100
GWh
DEMAND RESPONSE PROGRAMMES
over
130
MW
maximum demand reduced in Hong Kong
246.4
MW
capacity contracted in Australia
5. Invest to build an agile, innovative workforce
EMPLOYEES FOR CLP GROUP
8,318
2021: 8,116
LOST TIME INJURY RATE
0.1
2021: 0.07
TOTAL RECORDABLE INJURY RATE
0.25
2021: 0.23
AVERAGE TRAINING HOURS PER EMPLOYEE
46.2
2021: 51.6
WOMEN IN LEADERSHIP POSITIONS
29.1%
2021: 30.5%
WOMEN IN ENGINEERING
13.0%
2021: 12.3%
FEMALE EMPLOYEES
26.7%
2021: 26.3%
GRADUATE TRAINEES HIRED IN HONG KONG
41
2021: 32
