The strategy at Hong Kong-based CLP is clear: decarbonise and digitalise the portfolio to become a ‘Utility of the Future’. BWD’s partnership with CLP is focused on helping the energy giant identify and prioritise the ESG topics most important to the company and its stakeholders.
In 2018, we commenced a comprehensive materiality assessment on behalf of the company, and in 2020, refreshed the analysis to incorporate the impacts of COVID-19 and geopolitical tensions.
These comprehensive analyses have provided CLP with a deeper understanding of how changes in the environment, society, technology and governance are affecting the company’s operating environment. This, in turn, has made it easier for the Sustainability Executive Committee (chaired by the CEO) to confirm the topics which CLP should be managing and reporting on.
This rigorous approach was duly rewarded when CLP, described as “an outstanding entrant” by the judges of the 2019 Australasian Reporting Awards, won three major awards: best online report, best sustainability report and best sustainability report in the joint ARA – Hong Kong Management Association Award. More accolades followed when the report was judged one of the ten best in the world for 2019 by the World Business Council for Sustainable Development.