17 Dec 2024
Towngas secures spot in Dow Jones Sustainability Asia/Pacific Index for third consecutive year, demonstrating strong ESG integration in business operations
(17 December 2024) The Hong Kong and China Gas Company Limited (Towngas) has been included in the Dow Jones Sustainability Asia/Pacific Index for the third consecutive year, achieving an S&P Global ESG Score of 71 – a six-point improvement from the previous year – which recognises the Company’s continued progress in managing and addressing significant ESG risks, opportunities and impacts.
The Dow Jones Sustainability Asia/Pacific Index tracks the top 20% of the 600 largest companies in the Asia-Pacific developed region in the S&P Global BMI, measuring their sustainability performance through the Corporate Sustainability Assessment. Regarding the Company’s third consecutive inclusion in the index, Mr Felix Lee Kin-ming, Head of Group ESG / Head of Group Corporate Affairs of Towngas, says the achievement is encouraging, “The Group has consistently integrated Environmental, Social and Governance (ESG) and sustainability principles into our daily operations. We are actively transforming from a traditional utility company into an integrated clean energy supplier, vigorously developing new energy businesses to contribute to global low-carbon green transformation.”
Towngas has actively implemented various initiatives to enhance its ESG performance. Environmentally, the Company is expanding its supply of green methanol, hydrogen, and sustainable aviation fuel (SAF) to provide green fuel solutions for marine, land and air transport, as well as industrial applications. The Company is also participating in Hong Kong’s first green hydrogen production project at the SENT Landfill in Tseung Kwan O, with the first locally produced green hydrogen expected next year to help reduce carbon emissions across various sectors. Additionally, Towngas has launched the Towngas Green Supply Chain Finance Programme to encourage suppliers to manage and disclose their carbon emissions data, further strengthening the foundation for collecting Scope 3 greenhouse gas data.
In terms of social responsibility, the Towngas Volunteer Service Team has benefitted over 8.5 million individuals with more than 1 million service hours. Beyond traditional volunteering activities like caring visits, Towngas focuses on overlooked community groups. Examples include organising a rice dumpling-wrapping event during the Dragon Boat Festival with “elders with emigrant family”, and hosting a cooking competition for the visually impaired to showcase their culinary skills while encouraging broader social support.
Regarding corporate governance, Towngas places high importance on risk management and resilience building, continuously conducting climate risk assessments and strengthening infrastructure. This includes installing flood gates, water pumps, and an early warning system at the Tai Po Gas Production Plant. The Board of Directors maintains overall responsibility for overseeing crucial ESG matters through the Board ESG Committee, which specifically manages and ensures effective supervision of ESG-related issues. The remuneration packages of the Managing Director and senior executives are linked to material ESG matters to enhance ESG performance.
This year, Towngas has received widespread recognition for its ESG performance, including an “AA+” rating in the Hang Seng Corporate Sustainability Index, an “A” rating in MSCI ESG Ratings, an “A-” rating in CDP Climate Change, and being selected for the second consecutive year in S&P Global’s Sustainability Yearbook (China Edition), ranking among the top 1% of Chinese companies in the Corporate Sustainability Assessment within the industry. The Company also topped four Business Sustainability Indices published by the CUHK Business School and was included in the FTSE4Good Index Series for the first time. Towngas will continue to enhance its ESG performance and actively implement various sustainability initiatives.
- END -
Press photo:
Photo 1:
Towngas has been included in the Dow Jones Sustainability Asia/Pacific Index for the third consecutive year.
For media enquiries, please contact:
The Hong Kong and China Gas Company Limited