CLP strengthens company reporting with double materiality approach

CLP Holdings Limited (CLP) has adopted a double materiality approach in its latest Sustainability Report and Annual Report to provide an integrated picture of the environmental, social and governance (ESG) opportunities and risks in its business.

In line with the best global reporting practices, CLP’s 2021 Sustainability Report focuses on material topics that impact on people, the environment and the economy, addressing the concerns of a diverse range of stakeholders.

In its Annual Report, CLP focuses on ESG topics that potentially create or erode its enterprise value – issues that may be of most interest to shareholders and other capital providers.

The topics were identified and confirmed through a comprehensive materiality assessment involving research into megatrends affecting CLP’s operating environment and in-depth interviews with senior management and important stakeholders.

While climate-related financial disclosures were included in CLP’s Sustainability Reports in past years, CLP published its first standalone Climate-related Disclosures Report in 2021 as interests in climate change grow.

The report adopts the four pillars recommended by the Task Force on Climate-related Financial Disclosures and was also prepared with reference to the Climate-related Disclosures Prototype, released by the IFRS Foundation-chaired Technical Readiness Working Group in 2021.

As an early adopter of integrated reporting, CLP is regularly reviewing the company’s approach to reporting as its business and operating environment continue to evolve. The double materiality approach underscores CLP’s commitment to integrate sustainability into its business strategy, and to respond to increasing stakeholder demands for greater corporate transparency.

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