GHG Emissions
GHG Emissions
Significance & Commitment
Climate change presents a significant concern for every stakeholder. Collaboration across countries to prevent further increases in the average global temperature by controlling GHG emissions through severely strict regulations in each country is thus the global agenda. As an energy producer and provider, the Company is committed to increasing green energy portfolio and reducing GHG emissions intensity.
Management Approach
Climate change risk is considered and integrated into the Company’s enterprise risk management. The Company has set climate change management as one of the KPIs of CEO and senior managements of relevant business units. The Climate Change Committee has been established to ensure the implementation of the climate change management strategy focusing on four measures.
Measure
Operating direction
Key progress
Mitigating GHG emissions
· Ensuring compliance with related laws
· Seeking to reduce GHG emissions
· Integrating carbon pricing in the investment decision
· Announced climate change policy since 2010 and revised in 2018
· Announced long-term GHG reduction targets since 2010 (2015 targets announced in 2010, 2020 targets announced in 2016, and 2025 targets announced in 2020)
· Implemented internal carbon pricing since 2018
Adaptation
· Monitoring risks, opportunities, and implications of climate change
· Planning for business continuity regarding climate change
· Assessed and reported climate change risks to the Risk Management Committee since 2004
· Considered the climate change risk when developing the Business Continuity Management (BCM) plan since 2011
Being a part in a low carbon society
· Seeking to invest in renewable energy business
· Supporting initiatives, research and development (R&D) of low GHG emissions technologies
· Seeking to engage with stakeholders to reduce GHG emissions
· Invested in renewable power business since 2016
· Invested in solar rooftop business since 2017
· Invested in R&D for energy storage system, electric vehicle, and smart city
· On progress
Participation in a climate change community
· Sharing the performances and GHG management practices
· Being a member of the climate change committee or taskforce
· Participated in CDP-Climate change since 2010, CDP-Water since 2017, and CDP-Forest since 2019
· Disclose information following the Task Force on Climate-related Financial Disclosed (TCFD) recommendation
· Download Climate Change Report 2022
· Climate Change Report 2023 (e-book)
Year in Review
The Company has set a long-term target and established a roadmap in alignment with the Paris Agreement to limit global temperature increases to below 1.5°C. In 2023, Several decarbonization workshops were arranged across all business units under operational control. These workshops were designed to engage every business unit in a comprehensive discussion on decarbonization, fostering a collaborative approach to identifying effective mitigation strategies and evaluating the feasibility of carbon capture activities.
In addition, the Company has made significant advancements in addressing other indirect GHG emissions (Scope 3) in 12 categories across 6 key businesses. The Scope 3 disclosure has been expanded to cover 3 categories, including business travel, use of sold products, and investment.
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