Reporting frameworks and content indices

CLP recognises that different methodologies are used globally to measure the sustainability performance of organisations. This report references several reporting guidelines and frameworks to ensure comparability, an approach aligned with international best practice.

The International Sustainability Standards Board (ISSB)'s International Financial Reporting Standards (IFRS) S1 General Requirements for Disclosure of Sustainability-related Financial Information

In June 2022, the investor-focused sustainability disclosure organisation the Climate Disclosure Standard Board (CDSB) and the Value Reporting Foundation (VRF) (created from the merger of the International Integrated Reporting Council (IIRC) and the Sustainability Accounting Standards Board (SASB)) were consolidated into the IFRS Foundation, to support the development of new ISSB standards. In June 2023, the ISSB under IFRS issued two inaugural Sustainability Disclosure Standards, IFRS S1 –General Requirements for Disclosure of Sustainability-related Financial Information, and IFRS S2 – Climate-related Disclosures. These standards have already been endorsed by the International Organisation of Securities Commissions (IOSCO) and have received strong support from a number of jurisdictions, including Australia, China, Canada, Japan, Hong Kong, Malaysia, New Zealand, Nigeria, Singapore, and the UK. They are expected to inform and accelerate the development of sustainability-related regulatory initiatives globally. 

In response to these new IFRS standards, CLP in its 2023 Annual Report has disclosed information about sustainability-related risks and opportunities that could reasonably be expected to affect the Company’s prospects. CLP is further making sustainability a core part of its corporate thinking and business strategy by integrating the materiality assessment process into its governance and risk management procedures, as well as disclosing its strategies and metrics in relation to significant sustainability issues.

For its 2023 Annual and Sustainability Reports, CLP has also referenced the Integrated Thinking Principles and the SASB Standards for Electric Utilities & Power Generators.

Download the IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information Content IndexDownload the SASB Content Index for Electric Utilities & Power Generators
The ISSB's IFRS S2 Climate-related Disclosures   

The ISSB’s new IFRS S2 standards build on existing frameworks and incorporate various leading initiatives such as Integrated Reporting (IR), the Sustainability Accounting Standards Board (SASB), the Climate Disclosure Standards Board (CDSB), and the recommendations by the Task Force on Climate-Related Financial Disclosures (TCFD).

CLP referenced the ISSB’s Climate-related Disclosures Prototype in its 2021 Climate-related Disclosures Report, and the IFRS S2 Exposure Draft in its 2022 edition. In 2023, CLP has continued to enhance its climate-related disclosures by making reference to the IFRS S2 standards when describing its responses to relevant climate-related risks and opportunities, and providing annual updates and quantitative metrics in its Annual Report. By integrating its Climate-related Disclosures Report into the Annual Report, CLP is further aligning itself with the integrated reporting principle. In addition, a comprehensive climate transition plan titled CLP's Climate Vision 2050: Powering an orderly transition is published at the same time in March 2024.

In October 2023, the Task Force on Climate-related Financial Disclosures (TCFD) announced that it had disbanded, having fulfilled its remit. The Financial Stability Board (FSB) has asked the IFRS Foundation to assume responsibility for monitoring companies’ progress in climate-related disclosures. 

Download the IFRS S2 Climate-related Disclosure Content Index
The Global Reporting Initiative (GRI)

The GRI is an international independent organisation that provides a set of widely-used standards for sustainability reporting. CLP’s reports have made reference to the GRI Standards since 2007.

This report has been prepared in accordance with GRI Universal Standards 2021. It also reports on matters relevant to the GRI G4 Electric Utilities Sector Disclosures, covering aspects of its sustainability performance that are meaningful and relevant to the electric utility sector.

Download the GRI Content Index
The Environmental, Social and Governance (ESG) Reporting Guide of the Stock Exchange of Hong Kong

Companies listed on the Hong Kong Stock Exchange (the Exchange) are required to meet the Exchange’s ESG Reporting Guide disclosure obligations for financial years beginning from 1 July 2020 onwards. The Guide was updated in 2019 after extensive consultation conducted by the Exchange.

CLP’s Annual and Sustainability Reports adopted the updated disclosure obligations from the 2019 reporting cycle onwards. In particular, the materiality assessment process 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 of the ESG Reporting Guide.

The ISSB was formed in November 2021 and consultation on the first two ISSB standards took place in 2022, prompting the Exchange to consider aligning Hong Kong’s ESG reporting requirements with these widely supported international standards. The Exchange plans to enhance climate-related disclosures under the ESG framework by introducing mandatory disclosures that are consistent with the requirements of IFRS S2. 

In April 2023, the Exchange published a consultation paper seeking market feedback on its proposals to enhance climate-related disclosures. In November 2023, the Exchange postponed the implementation date of the Listing Rule amendments to 1 January 2025, subject to finalising the Listing Rule amendments. 

Download the HKEx ESG Reporting Guide Content Index
Task Force on Nature-related Financial Disclosures (TNFD)

The TNFD develops voluntary, consistent nature-related financial risk disclosure recommendations for use by companies when providing information to investors, lenders, insurers and other stakeholders. It has issued 14 recommendations on assessing nature-related risks and opportunities in an organisation's governance, strategy, risk and impact management, metrics and targets. Its recommendations include 10 core global disclosure indicators and metrics related to dependencies and impacts on nature, as well as core disclosure metrics for organisation-level risk and opportunity assessment. CLP makes reference to the TNDF’s recommendations in disclosing its assessment of nature-based risk and of its impact on nature in the chapter Respecting Nature

Other guidance documents developed for the TNFD have also been referenced, including the sector-specific guidance for the power and utilities sector specifying the potential financial impact of nature-related risks. Another reference that has been used is the Roadmap to Nature Positive: Foundations for the energy system, published by the World Business Council for Sustainable Development (WBCSD) in September 2023. CLP is actively participating in the WBCSD’s Roadmap to Nature Positive for the Energy System working group. 

Greenhouse gas (GHG) emissions data

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

In 2007, CLP developed the first version of the Group-wide GHG reporting guideline, which referenced some of the guidelines above. This reporting guideline is reviewed at least every three years. In 2019, CLP enhanced its GHG disclosure to include the disclosure of Scope 3 emissions.

Read more on the GHG Accounting Methodology

We use cookies for the purpose of enhancing your user experience and helping us better understand how the site is used. By continuing to visit this site, you agree to our Use of Cookies.

Back to top