Climate Vision 2050
CLP’s decarbonisation journey began back in 2004, when we first targeted to make renewable energy 5% of our portfolio by 2010.
In 2007, we launched “Climate Vision 2050” to support the transition towards a sustainable, low-carbon future and to guide our strategy on managing climate-related risks and opportunities.
Our Climate Vision 2050 was updated in 2021 and further reviewed in early 2024. We strengthened the greenhouse gas emissions intensity target for 2030 to bring it closer to the goal of limiting global warming to 1.5⁰C, while maintaining existing commitments including phasing out coal before 2040. We are committed to reviewing our climate transition plan and targets at least every three years.
CLP’s key targets and commitments:
- Cease the development of new coal-fired power plants in CLP’s portfolio;
- By 2030, reduce our greenhouse gas emissions intensity of electricity sold to 0.26kg CO2e/kWh;
- Phase out coal before 2040;
- By 2040, reduce our greenhouse gas emissions intensity of electricity sold to 0.1kg CO2e/kWh; and
- Achieve net-zero greenhouse gas emissions across our value chain by 2050.
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