Strategic Framework

PURPOSE

Power Brighter Tomorrows

Vision

Be a leading responsible energy provider, from one generation to the next.

Mission

Provide sustainable energy solutions to create value for shareholders, customers, employees and the wider community.

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.

Materiality Assessment
Material Topics:
Financially material
Strategic Framework

Transition to Net Zero

Strategic Framework

Energy Growth Opportunities

Strategic Framework

Energy Security and Reliability

Strategic Framework

A Safe, Future-Ready Workforce

Strategic Framework

Business Resilience

Strategic Framework

Community Stewardship

Impact material
Megatrends Analysis
Strategic priorities
1
Continue to grow a sustainable business portfolio
  • Growing provision of energy solutions underpinned by capital discipline and community stewardship
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
Key performance indicators
1. Continue to grow a sustainable business portfolio
Total earnings
HK$ 6,655​ million
2022: HK$924 million
Operating earnings BEFORE FAIR VALUE MOVEMENTS
HK$ 10,127​ million
2022: HK$7,602 million
Dividends
HK$ 7,832 million
2022: HK$7,832 million
Electricity sent out
79,512 million kWh
2022: 87,360 million kWh
Retail customer accounts in
Hong Kong and Australia
5.23​ million
2022: 5.21 million
Environmental regulatory
non-compliance
5 cases
2022: 6 cases
2. Accelerate our response to climate change
Reliability in Hong Kong
99.999%
2022: 99.997%
Greenhouse gas emissions intensity
0.54 kg CO2e/kWh
2022: 0.55kg CO2e/kWh
Renewable energy capacity
3,732​ MW
2022: 3,611MW
Operating Earnings by asset type1
78% of Operating earnings
from​ non-carbon generation assets,
transmission, distribution and​ retail
operations​1
Total:
HK$11,606
million
Chart of operating earnings by asset type
Coal
Gas
Nuclear
Renewables
Transmission, distribution and retail
Notes:
  • Excluding fair value movements and before unallocated ​expenses.​​
  • Any minor discrepancies are due to rounding of ​figures.
Capital investments by asset type1
49% of Capital investments
in​ non-carbon generation assets,
transmission, distribution and​ retail
operations1​​
Total:
HK$15,674​​
million
Chart of capital investments by asset type
Coal
Gas
Renewables
Transmission, distribution and retail
Others
Notes:
  • On accrual basis.​
  • For maintenance, upgrades and efficiency improvements only.​​​
  • Any minor discrepancies are due to rounding of figures.
3. Serve growing demand for energy solutions
Initiatives and investments in new energy infrastructure and services
  • Opening of new offshore LNG terminal in Hong Kong
  • Forged partnerships with real estate management and property companies to support their decarbonisation with energy efficiency and sustainability solutions in the Greater Bay Area
  • Apraava Energy entered the advanced metering infrastructure market with 2 contracts to install 3 million smart meters
Adoption of new products and services
  • CLP China secured 4 renewable energy supply contracts including its largest Green Electricity Certificate contract and a 10-year corporate power purchase agreement to support customers’ decarbonisation targets​
  • CLPe won more than 40 orders for battery systems at construction sites
  • EnergyAustralia offers households with Solar Home Bundle solution to reduce emissions
4. Leverage technology for experience and performance
CLP Power customer satisfaction score
74
2022: 72
Net Promoter Score for EnergyAustralia
-17.6
2022: -6.9
Smart meters
over 2.23 million smart meters
connected for Hong Kong customers since 2018
0.78 million smart meters
connected for EnergyAustralia’s customers as of end-2023​​
Digital adoption
Over 2,500
business customers in Hong Kong for Smart Energy Online energy management platform
Feed-in Tariff Scheme in Hong Kong
376 MW
approved or connected to grid
since May 2018
Renewable Energy Certificates sales in Hong Kong
over 170 GWh
Demand response programmes
over 180 MW
maximum demand reduced in Hong Kong
356.2 MW
capacity contracted in Australia as of end-2023​
5. Invest to build an agile, innovative workforce
Employees for CLP Group
8,041
2022: 8,318
Lost time injury rate
0.06
2022: 0.1
Total recordable injury rate
0.18
2022: 0.25
Average training hours per employee
44.1
2022: 46.2
Women in leadership positions
29.1%
2022: 29.1%
Women in engineering
13.3%
2022: 13.0%
Female employees
27.2%
2022: 26.7%
Graduate Trainees hired in Hong Kong
45
2022: 41

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