CLP Reports Its Journey Towards A Net-Zero Future And Resilient Operations

Published: 14 Mar 2023
Author: CLP Group
Type: Member Spotlight

In one of the most economically challenging years in recent history, reflecting the impacts of the energy crisis, rising inflation and other global uncertainties, the CLP Group’s (CLP) newly-published Sustainability Report and integrated Annual Report continue to provide in-depth insights into its ongoing investments in a sustainable energy future to create long-term value for diverse stakeholders.

In 2022, CLP continued to utilise a double materiality approach to assess its business sustainability from a financial and an impact perspective. The assessment methodology was further enhanced with reference to new Global Reporting Initiative (GRI) guidance on material topics.

Under CLP’s 2022 reporting suite, impact material topics which reflect positive or negative impacts on people, the environment and the economy are covered in the Group’s Sustainability Report.

Financially material topics that potentially create or erode enterprise value – issues that may be of most interest to shareholders and other capital providers – are discussed in the integrated Annual Report.

Furthermore, to continue addressing stakeholders’ interest in how CLP manages its energy transition in a changing operating climate, CLP’s Climate-related Disclosures Report continued to provide readers with climate-related financial information relevant to its business.

The standalone report adopts the four pillars recommended by the Task Force on Climate-related Financial Disclosures (TCFD), and considered the proposed requirements in the International Financial Reporting Standards (IFRS) S2 Climate-related Disclosures issued by the International Sustainability Standards Board (ISSB).

It covers governance of CLP’s response to climate change, with detailed discussion of climate-related transition and physical risks and opportunities, and the Group’s strategy for driving the energy transition. Readers can also access information on the climate scenario analysis conducted by CLP for its portfolio across different markets, as well as updates on the implementation of CLP’s Climate Vision 2050.

See CLP 2022 Sustainability Report on their website.

Tags: Climate, TCFD

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