Despite the impacts of the Ukraine conflict, global energy shocks and rising inflation in 2022, the CLP Group continued its investments to build a sustainable energy future and create long-term value for diverse stakeholders. Readers can now gain in-depth insights into how CLP navigated one of the most economically challenging years from the Group’s latest Sustainability Report and integrated Annual Report.
CLP continued to utilise a double materiality approach to assess its business sustainability from a financial and an impact perspective. The assessment methodology was further enhanced with reference to new Global Reporting Initiative (GRI) guidance on material topics.
CLP’s performance on impact material topics – impacting people, the environment and the economy – are covered in the Group’s Sustainability Report.
Financially material topics that potentially create or erode enterprise value – issues of most interest to shareholders and other capital providers – are discussed in the integrated Annual Report.
For further insights into how CLP manages its energy transition in a changing operating climate, CLP’s Climate-related Disclosures Report continued to provide readers with climate-related financial information relevant to its business.
The standalone report adopts the four pillars recommended by the Task Force on Climate-related Financial Disclosures (TCFD), and considered the proposed requirements in the International Financial Reporting Standards (IFRS) S2 Climate-related Disclosures issued by the International Sustainability Standards Board (ISSB).
As usual, CLP welcomes feedback from readers in its commitment to ongoing improvement in company reporting, a key part of the Group’s efforts to build a Utility of the Future.