Significance
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 | · Announced climate change policy since 2010 and revised in 2018 |
| · Seeking to reduce GHG emissions | · Announced long-term GHG reduction targets since 2010 (2015 targets announced in 2010, 2020 targets announced in 2016, and 2025 targets announced in 2020) | |
| · Integrating carbon pricing in the investment decision | · Implemented internal carbon pricing since 2018 | |
| Adaptation | ·Monitoring risks, opportunities, and implications of climate change | · Assessed and reported climate change risks to the Risk Management Committee since 2004 |
| · Planning for business continuity regarding climate change | · 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 | · Invested in renewable power business since 2016 · Invested in solar rooftop business since 2017 |
| · Supporting initiatives, research and development (R&D) of low GHG emissions technologies | · Invested in R&D for energy storage system, electric vehicle, and smart city | |
| · Seeking to engage with stakeholders to reduce GHG emissions | · On progress | |
| Participation in a climate change community | · Sharing the performances and GHG management practices | · Participated in CDP-Climate change since 2010, CDP-Water since 2017, and CDP-Forest since 2019 |
| · Being a member of the climate change committee or taskforce | · Disclose information following the Task Force on Climate-related Financial Disclosed (TCFD) recommendation · Download Climate Change Report 2022 |