Businesses are drawing up carbon reduction roadmaps in response to climate change. CLP Power Hong Kong Limited (CLP Power), CLPe, and Link Asset Management Limited (Link) signed a Memorandum of Understanding (MoU) today (14 September) to improve the energy efficiency of Link premises and raise environmental, social and governance (ESG) awareness among its tenants. The MoU also opens the door to collaboration opportunities for energy efficient solutions in Link's development projects in the Mainland cities of the Greater Bay Area (GBA) in support of the carbon neutrality goals of the GBA.
To help Link meet the targets of its 2035 Net Zero Pathway, CLP Power has conducted regular energy audits on its premises, including shopping arcades, fresh markets, and car parks, and given recommendations on how to enhance their energy efficiency. CLP Power has also supported Link's energy-saving projects through subsidy schemes such as the CLP Eco Building Fund, including the installation of energy efficient cooling systems in 21 shopping arcades which has saved more than 20 gigawatt hours (GWh) of electricity over the past five years - equivalent to the annual electricity consumption of over 5,000 households and a reduction of around 8,800 tonnes of carbon emissions.
The MoU signed today will further strengthen the energy-saving and carbon reduction partnership between CLP Power and Link. The two companies will explore collaboration opportunities, including implementation of energy management solutions at Link premises and potential acquisition of sustainability-linked loans from financial institutions. CLP Power will also provide technical support to Link for electric vehicle (EV) charging systems to promote low-carbon transport. In addition, the two companies will explore the feasibility of adopting battery energy storage systems as a replacement for diesel generators on Link's construction sites to reduce carbon emissions.
On the ESG side, CLP Power will support Link in promoting energy saving to its tenants through public education initiatives, including talks at the Link Talent Academy and efforts to encourage sustainable business operations. CLP Power has also set up an all-electric kitchen inside "Sustainable Cha Chaan Teng" atto showcase the energy and cost-saving benefits of electric cooking.
Furthermore, CLPe and Link will explore collaboration possibilities in the GBA to develop one-stop energy solutions covering cooling, solar power, EV charging, and smart energy management at Link's premises in the Mainland cities in support of carbon neutrality goals.
said, "This MoU strengthens our shared commitment to a low-carbon, sustainable future. The two companies will collaborate on a variety of energy-saving and electrification initiatives across Link's diverse portfolio, laying the groundwork for impactful emission reduction and deepening our cooperation.'"
said, "We are proud to work with CLP in various sustainability endeavours, from raising energy awareness among our tenants through energy audits and seminars, renewable energy installations to investment projects in Mainland China. One immediate highlight, specifically for Hong Kong, is the rollout of 3,000 electric vehicle charging stations by the year 2024."
CLP Power Managing Director Joseph Law said, "CLP Power is committed to helping commercial and industrial customers enhance the energy efficiency of their premises, as buildings account for more than 60% of carbon emissions in Hong Kong. This MoU strengthens the collaboration between CLP Power and Link by establishing a framework for implementing comprehensive carbon emissions reduction measures."
He added, "As more companies set ESG goals and adopt net zero emissions as their business strategy, CLP Power looks forward to teaming up with them to drive a low-carbon transformation at all levels."
CLPe Managing Director Ringo Ng said, "As a trusted partner in energy and infrastructure solutions for Hong Kong and the Mainland, CLPe is committed to providing one-stop energy solutions to businesses. We look forward to working in partnership with Link in the GBA and to fully support the company's energy-saving initiatives in line with the national goal of achieving carbon neutrality by 2060."
CLPe has installed solar systems at 14 Link premises in Hong Kong with a total capacity of 1,200 kilowatts peak (kWp) over the past two years. It has also provided energy efficient heating, ventilation, and air-conditioning (HVAC) solutions for some of Link's shopping arcades.
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About CLP Power Hong Kong Limited
CLP Power Hong Kong Limited (CLP Power) is a Hong Kong utility subsidiary wholly owned by CLP Holdings Limited, a company listed on the Hong Kong Stock Exchange and one of the largest investor-owned power businesses in Asia. CLP Power operates a vertically integrated electricity supply business in Hong Kong and provides a highly reliable supply of electricity and excellent customer service to more than six million people.
About Link Asset Management Limited
Link Asset Management Limited, the manager of Link Real Estate Investment Trust (Link REIT, Hong Kong stock code: 823), is a leading real estate investor and asset manager in the world. Link REIT is the largest REIT in Asia by market capitalisation. Since its listing in 2005 as the first REIT in Hong Kong, Link REIT has been 100% held by public and institutional investors. It is a constituent of the Hong Kong securities market benchmark Hang Seng Index, as well as a component of the Dow Jones Sustainability Asia Pacific Index, the FTSE4Good Index Series and the Hang Seng Corporate Sustainability Index. From its home in Hong Kong, Link Asset Management Limited owns and manages a diversified portfolio including retail facilities, car parks, offices and logistics assets spanning from China's Beijing, Greater Bay Area (Hong Kong, Guangzhou and Shenzhen), and Yangtze River Delta centred around Shanghai, to Singapore, Australia's Sydney and Melbourne and the UK's London. Link Asset Management Limited seeks to extend its portfolio growth trajectory and grasp expansion opportunities in different markets in pursuit of sustainable growth.
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CLPe is a wholly-owned subsidiary of CLP Holdings Limited. The company provides a one-stop shop for customers, integrating products and services into value-added solution packages to support low-carbon and sustainable business development. As a trusted partner for energy and infrastructure solutions in Hong Kong and Mainland China, CLPe delivers urban and industrial energy infrastructure in power, heating, cooling, electric transport, and data centres to cities, comprehensive building energy management in cooling, solar energy, energy storage, EV charging, electrical and mechanical services, and smart solutions to commercial and industrial customers, and sustainable home products and services to mass market customers. For more details, please visit.
The Link Real Estate Investment Trust published this content on 14 September 2023 and is solely responsible for the information contained therein. Distributed by, unedited and unaltered, on 14 September 2023 08:06:04 UTC.