20 Mar 2023
Towngas and Towngas Smart Energy both recognised for ESG commitment
(20 March 2023) The Hong Kong and China Gas Company Limited (“Towngas”, stock code: 0003.HK), and Towngas Smart Energy Company Limited (“Towngas Smart Energy”, stock code: 1083.HK) are pleased to announce that the companies have been awarded the “Pioneering Organisation in ESG Disclosure Enhancement” award and the “Outstanding Award for Green and Sustainable Bond Issuer (Smart Energy) - Largest Single Sustainability-linked Bond” by Hong Kong Quality Assurance Agency. The awards recognise the companies’ positive commitment to green and sustainable financial development, including a commitment in the bond issue terms to make additional interest payments if the relevant key performance indicators (KPIs) are not met.
Both Towngas and Towngas Smart Energy achieved excellent results in the “Hong Kong Green and Sustainable Finance Awards 2022”, organised by Hong Kong Quality Assurance Agency. Towngas was named a “Pioneering Organisation in ESG Disclosure Enhancement”, while Towngas Smart Energy won the “Outstanding Award for Green and Sustainable Bond Issuer (Smart Energy) - Largest Single Sustainability-linked Bond”. Among them, Towngas Smart Energy was the only company in the smart energy sector to receive the award during the year.
Towngas Smart Energy has been proactive in sustainability by proactively developing the Sustainability-linked Financing Framework to ensure compliance with the corresponding international green and sustainable financial principles. Under the Framework, Towngas Smart Energy successfully raised US$200 million in April 2022 through its first issuance of a 5-year sustainability-linked bond with a coupon rate of 4% per annum in a volatile market environment. In addition, Towngas Smart Energy also successfully arranged an RMB500 million 7-year green loan for the development of our renewable energy business. The Company is also committed to continued investment in renewable energy and carbon emissions reduction and has undertaken to pay an additional 0.25% interest if it fails to meet its sustainability targets.
Receiving the “Pioneering Organisation in ESG Disclosure Enhancement” award is a recognition of Towngas’ efforts in ESG disclosure. Four months ago, Towngas released the Climate-related and Nature-related Directive Guide, making it the first enterprise in Hong Kong to publish a document in response to the Taskforce on Nature-related Financial Disclosures (TNFD) framework to review and disclose the impact of its business on ecology and biodiversity, as well as the associated risks and opportunities. The Guide also included the disclosure of the potential opportunities and impacts of climate change on the Company’s financial position, as recommended by the Taskforce on Climate-related Financial Disclosures (TCFD).
Towngas is a member of the Hong Kong International Carbon Market Council of Hong Kong Exchanges and Clearing Limited. It has also adopted the Core Climate platform as the first batch of users in carbon credit trading to promote the development of the carbon trading market and green finance in Hong Kong.
Looking ahead, Towngas and Towngas Smart Energy will continue to improve their overall ESG performance and contribute to green and sustainable finance.
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Press photos:
Photo 1:
Ir Ho Chi-shing (left), Chairman of Hong Kong Quality Assurance Agency, presents the “Pioneering Organisation in ESG Disclosure Enhancement” award and the “Outstanding Award for Green and Sustainable Bond Issuer (Smart Energy) - Largest Single Sustainability-linked Bond” to Mr Lo Wing-keung (right), General Manager – Corporate Treasury of Towngas.
Photo 2:
The Group is committed to implementing its green and sustainable development strategies by promoting smart energy projects to help reduce carbon emissions.
Photo 3:
The Group has commenced zero-carbon industrial park projects in a number of Chinese mainland cities, including Jiawang Industrial Park in Xuzhou, Jiangsu province, which uses steam instead of coal to provide heating services to enterprises and residents in the area.
Photo 4:
The Group’s first organic waste resource utilisation project at Suzhou Industrial Park in Suzhou, Jiangsu province, converts up to 800 tonnes of waste per day into natural gas, exemplifying its continuous investment in renewable energy and carbon reduction.
For media enquiries, please contact:
The Hong Kong and China Gas Company Limited
Mr Addie Lam
Assistant General Manager –
Corporate Affairs
Tel: 2963 2578 / 6702 6449
Fax: 2516 7368
Email:
addie.lam@towngas.com |
Ms Kara Kwong
Senior Corporate Communications Officer
Tel: 2963 3497 / 6698 3357
Fax: 2516 7368
Email:
kara.kwong@towngas.com |