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CLP Sustainability Report 2020 / About this report / Reporting frameworks and content indices

Reporting frameworks and content indices

CLP recognises the diversity of methodologies used around the world to measure the sustainability performance of organisations. This report references several reporting guidelines and frameworks to ensure comparability. This approach aligns with international best practices.

Global Reporting Initiative (GRI)

GRI reference: 102-55

  • The GRI is an international independent organisation which provides widely used standards for sustainability reporting.

  • This report has been prepared in accordance with the GRI Standards: Core option. It also reports on the GRI G4 Electric Utilities Sector Disclosures, covering key aspects of sustainability performance which are meaningful and relevant to the electric utility sector. CLP has been reporting with reference to the GRI reporting framework since 2007 and has adopted the GRI Standards since it was launched in 2016.

Download the GRI content index
International Integrated Reporting Council (IIRC)
  • The IIRC is a global coalition behind the International Integrated Reporting <IR> Framework, which has become a widely used guideline for integrated reporting.

  • This report applies its guiding principles to illustrate how integrated thinking has been embedded in CLP. In particular, it adopts a forward-looking view and considers the material trends that affect the ability to create value over time.

  • Since 2011, CLP’s Annual Report has been prepared with reference to this guideline, and includes a focused discussion of how the Company creates value for stakeholders under different capital structures.

  • The 2020 merger between the Sustainability Accounting Standards Board (SASB) and IIRC may have implications on how CLP intends to manage integrated reporting going forward. A separate study is underway to further assess potential implications on CLP’s approach to financial and non-financial disclosure.

Task Force on Climate-related Financial Disclosures (TCFD)
  • The TCFD develops voluntary, consistent climate-related financial risk disclosure recommendations for use by companies in providing information to investors, lenders, insurers, and other stakeholders. The recommendations consider the physical, liability and transition risks associated with climate change and what constitutes effective financial disclosures across industries.

  • The TCFD covers four main areas of disclosure: governance, strategy, risk management, and metrics and targets. CLP’s climate-related disclosure references the WBCSD TCFD Electric Utilities Preparer Forum Report which was published in June 2019. Additional information is also available through, CDP – Climate Change.

  • CLP has also taken into consideration the TCFD Guidance on Risk Management Integration and Disclosure and the TCFD Guidance on Scenario Analysis for Non-Financial Companies.

Read CLP's disclosure in accordance to TCFD
The Stock Exchange of Hong Kong's Environmental, Social and Governance (ESG) Reporting Guide
  • In 2019, the Stock Exchange of Hong Kong (HKEx) conducted a consultation on the Review of the ESG Reporting Guide, and the revised Guide was published in December of the same year. Companies listed on the HKEx are required to meet the updated ESG Reporting Guide disclosure obligations from financial years commencing on or after 1 July 2020.

  • CLP’s Annual and Sustainability Reports have adopted the new disclosure obligations since the 2019 reporting cycle. In particular, the materiality assessment process, as outlined under the mandatory disclosure requirements, has been applied to prioritise CLP's response to the "comply or explain" provisions of the Environmental and Social Aspects.

Download the HKEx content index
Greenhouse Gas Emissions
  • CLP’s greenhouse gas (GHG) emissions inventory covers the six greenhouse gases initially specified in the Kyoto Protocol. The Group has also considered the seventh mandatory gas added under the second Kyoto Protocol compliance period, namely nitrogen trifluoride (NF3), but has deemed it immaterial to operations.

  • CLP's GHG emissions are reported with reference to: the World Resources Institute (WRI) / World Business Council for Sustainable Development (WBCSD) GHG Protocol, the Intergovernmental Panel on Climate Change Guidelines for National Greenhouse Gas Inventories (2006), the International Standard for GHG Emissions ISO 14064, and relevant local statutory guidelines where applicable.

  • To facilitate implementation, in 2007 CLP developed the first version of the Group-wide GHG reporting guideline which referenced the guidelines above. This reporting guideline is reviewed in accordance with CLP practice at least every three years.

  • In 2019, CLP enhanced its GHG disclosure to also include Scope 3 emissions. CLP’s total Scope 3 emissions figure is assured for the first time in the 2020 reporting cycle.

Financial data

All financial data in this report is consistent with the figures published in the audited financial statements of the 2020 Annual Report. These financial statements were prepared in accordance with the Hong Kong Financial Reporting Standards (HKFRS) issued by the Hong Kong Institute of Certified Public Accountants (HKICPA) and the requirements of the Hong Kong Companies Ordinance (Cap.622).


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