While governments around the world began to relax their COVID-19 restrictions in 2022, rising geopolitical tensions created shockwaves over the year, exacerbating inequality on a wide scale and forcing the world into ever more uncertainty.
The energy sector was especially hard hit by the impacts of the Russia-Ukraine war, which has led to profound impacts on global energy markets, including price volatility, supply shortage, and energy security issues.
To better understand the risks and opportunities that may arise from this global energy crisis and from this evolving operating environment, CLP continued to adopt a double materiality approach to assess its business sustainability from financial and impact perspectives.
Financially material topics which may be of most interest to investors and other stakeholders are discussed in the Annual Report; impact material topics which reflect positive or negative impacts on people, the environment and the economy are covered in this Sustainability Report.
In 2022, CLP refined its materiality assessment process with an updated methodology for identifying and assessing risks and opportunities in a systematic approach. This helps to ensure that strategy and purpose remain aligned, stakeholders' needs are responded to, emerging environmental, social and governance (ESG) risks and opportunities are better identified, and full transparency is maintained in reporting.
By aligning this Sustainability Report with the Annual Report, CLP aims to help stakeholders, in particular our customers, people, partners and the wider community, find the information they seek. Links to related sections of the Annual Report are provided. To address the growing interest in climate-related responses, CLP has also prepared a standalone Climate-related Disclosures Report.
We hope you find our reports insightful, informative and thought-provoking. Feedback on this report is welcome, and can be sent through CLP’s online survey or via .
A view from above of Meizhou Solar Power Station in Mainland China.