CLP (00002.HK) recently held its annual general meeting, and Chairman George McGhee stated that over the past year, CLP has made significant progress in the carbon reduction process in Hong Kong, with 600 megawatts of new gas-fired Generator units now in operation, and a total of 1,050 megawatts of coal-fired Generator units have been shut down. During this period, the greenhouse gas emissions intensity of electricity sales has decreased by 24%. In the future, there will be active management of the gradual phasing out of coal-fired power generation. He also pointed out that the Hong Kong government’s 'Hong Kong Climate Action Blueprint 2050' has set a target to increase the share of zero-carbon Energy in the city’s power generation fuel mix to 60% to 70% by 2035. Although there are still ten years to reach this goal, CLP is already actively researching ways to import more zero-carbon Energy into Hong Kong.
He also mentioned that the Northern Metropolis Development Plan has been designated as a key CityDev project, and CLP will fully support this policy measure. It is expected that the Northern Metropolis will develop into a new economic and living circle in the New Territories, occupying about one-third of Hong Kong's total land area, and CLP will provide reliable and sustainable Electrical Utilities supply for the Northern Metropolis.
