Welcome to CLPʼs 2024 Sustainability Report

In response to the fast-evolving sustainability-related disclosure landscape, CLP has prepared its annual reporting suite in accordance with the recently published Hong Kong Financial Reporting Standard (HKFRS) S1 General Requirements for Disclosure of Sustainability-related Financial Information and the HKFRS S2 Climate-related Disclosures as issued by the Hong Kong Institute of Certified Public Accountants. These Hong Kong standards align fully with the International Sustainability Standards Board (ISSB)’s IFRS Sustainability Disclosure Standards. As an impact-focused disclosure, this report has been prepared in accordance with the Global Reporting Initiative (GRI) Standards to ensure utmost transparency regarding our impacts for stakeholders. CLP has also respond to the growing concern for nature conservation by dedicating a report chapter to nature-related topics, aligning with the Task Force on Nature-related Financial Disclosures (TNFD) recommendations.

CLP continues to adopt the double materiality approach with a framework operating on a three-year cycle, first implemented in 2021 to shape the sustainability-related content of CLP’s annual disclosures. Financially material topics and associated risks and opportunities that could reasonably be expected to affect the Company’s prospects are discussed in the Annual Report, while impact material topics relating to positive or negative impacts on people, the environment and the economy are covered in this Sustainability Report. Following the materiality assessment results for 2024, this report includes new sections on artificial intelligence and human rights due diligence. The supply chain sustainability management section has been also revamped.

To further enhance the accessibility of CLP's comprehensive sustainability-related disclosures, the management approach sections have been moved to this online sustainability report website. The key sustainability achievements and performance for 2024 remain accessible in the downloadable version.    

In addition, CLP has disclosed its ESG data in a standalone ESG Databook for the first time. The ESG Databook has been prepared for the purpose of providing CLP’s stakeholders with a quantitative overview of the Group’s 2024 non-financial performance while allowing quantitative analysis with availability of all key data points. On top of this, we have also developed an online ESG Data Hub to house the interactive charts for optimal user experience.  

This report aims to provide insightful and informative perspectives, offering a balanced view of CLP's sustainability efforts. Feedback on this report is welcome and can be shared through CLP’s online survey form.