Low Carbon Transition Plan

 

The Group keeps pace with international trends concerning climate action and efforts to address greenhouse gas emissions. The COP28 achieved a landmark agreement among nations on the urgency of global emissions cuts to cap warming at 1.5°C, signalling a potential end to the fossil fuel era. CKI is in full support of these aims and is diligently pursuing initiatives to significantly reduce its carbon emissions. The Group is steadfast in its strategy to achieve a 50% reduction in Scope 1 and 2 emissions by 2035 and is committed to net zero by 2050. In 2023, the Group proudly reported a third consecutive year of reduction in emissions, achieving a 4.8% reduction. Looking ahead, the Group is focused on modernizing infrastructure with innovative technology, embracing hydrogen use in gas networks, and guiding customers towards greater energy efficiency. The Group is establishing a robust framework and is committed to active engagement in all business areas, with a promise to openly communicate our ongoing experiences and developments as we navigate this transition.

Our Decarbonisation Ambition

Recognising the energy transition has propelled us towards a more impactful role in global decarbonisation, we are determined to exert directed efforts in our business sectors to drive change. In facilitating the transition to a "net zero" future for our customers, we encourage continuous investments to prepare for the evolving landscape. As technologies continue to advance, there may be new viable solutions to reduce carbon emission across the portfolio. The Group will actively monitor these trends and regularly review our carbon emission reduction plan. In cases where it is difficult to eliminate emissions, including hard-to-abate and residual emissions, we will consider exploring alternatives, such as the procurement of credible carbon credits and renewable energy certificates, as a last resort.

Our Net Zero Timeline

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Our Decarbonisation Strategy

1. Decarbonising generation portfolio
2. Modernising & digitalising electricity networks
3. Promoting reduction & recovery of methane and carbon dioxide
4. Operating in a resource - saving manner
5. Embracing hydrogen economy
6. Developing cleaner ways to produce products & deliver services

Our Performance in 2023