On September 26, 2024, Hong Kong Broadband Limited ("HKBN"; Hong Kong Stock Exchange Stock Code: 1310) is pleased to announce that it has obtained the Science Based Targets initiative (SBTi) certification. HKBN has set short-term carbon reduction targets, committing to significantly reduce 50.65% of Scope 1 and Scope 2 emissions based on the 2022 fiscal year baseline by the fiscal year 2030, as well as reduce 25.00% of Scope 3 emissions related to purchased goods and services, sales product usage by committing to drive environmental, social, and governance (ESG) development through technology and achieve SBTi's 1.5°C carbon reduction goal.
HKBN has received the Science Based Targets initiative certification, further enhancing climate action.
To promote the achievement of carbon reduction goals, Hong Kong Broadband Group is determined to enhance energy efficiency through technological upgrades and business restructuring. The group's main carbon reduction measures for the coming year include: upgrading network technology, enhancing network performance optimization, integrating data centers, and promoting sustainable procurement, aiming to integrate resources, avoid waste, reduce carbon footprint, and build a sustainable future.
Amy Yang, holding manager and vice chairman, as well as the group's chief executive officer, stated: "Adhering to the core value of 'Achieving a Better Home', we have been tirelessly promoting ESG development. This SBTi certification confirms Hong Kong Broadband's leadership position as an ESG driver in the industry. We will continue to drive technological innovation and sustainable development, contributing to the construction of a green and low-carbon future."
Hong Kong Broadband has already received multiple important recognitions in the ESG development process. In 2022, the group was upgraded by the international authoritative rating agency MSCI (Morgan Stanley Capital International) to the highest AAA honor for environmental, social, and governance (ESG) ratings, maintaining this status to date, ranking among the top 14% of telecommunications companies worldwide. The group has been a component stock of the Hang Seng Corporate Sustainability Benchmark Index since 2016, receiving an AA rating for three consecutive years from 2020 to 2022, and being upgraded to AA+ rating starting from 2023.
About Hong Kong Broadband Limited
Hong Kong Broadband Network Limited (Stock Code: 1310 on the Hong Kong Exchange, together with its subsidiaries referred to as 'Hong Kong Broadband' or 'Group') is an investment holding company. The Group is based in Hong Kong with business operations spanning across Hong Kong, Macau, and mainland China, and is a leading integrated telecommunications and technology service provider. The Group offers a comprehensive range of high-quality information and communications technology (ICT) solutions and converged services. Hong Kong Broadband's triple-fiber network covers over 2.57 million residential households and 8,100 commercial buildings and facilities in Hong Kong. With a core goal of 'Making Home A Better Place,' Hong Kong Broadband is committed to bringing long-term benefits to the areas it serves. In 2024, it received the highest AAA rating from MSCI ESG, outperforming its peers. The Group is managed by hundreds of stock managers (directors and management-level talents) who self-invest in shares of Hong Kong Broadband Network Limited (Stock Code: 1310 on the Hong Kong Stock Exchange). For more details about Hong Kong Broadband Network Limited, please visit [website]."
