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Chairmen’s Statement
The pneumonia-causing coronavirus disease (COVID-19) continued to spread globally in 2021, with fluctuating outbreaks in various places. Major economies, with extensive vaccination coverage, gradually resumed economic activities and their demand for commodities rebounded, driving the Chinese mainland’s exports to record good growth. As the epidemic situation in Hong Kong fluctuated during the year, the resumption of quarantine-free cross-border travel with the Chinese mainland was still suspended, seriously impacting catering, tourism and retail sectors in particular.
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Business Highlights
Town Gas Sales
Company
27,677
Number of Customers per Employee
Company
933
Profit Attributable to Shareholders
5,017
Dividends
6,531
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Our Journey to a Sustainable Future
We contributed to the Chinese mainland’s “30-60 dual carbon targets” of peak carbon emissions by 2030 and carbon neutrality by 2060 through a series of Environmental, Social and Governance (ESG) initiatives in 2021. Some of our ESG Highlights are:
Carbon Neutrality Commitment
Towngas is committed to becoming carbon neutral by 2050 through energy transition and innovation, including the development of renewable energy, waste-to-energy, green hydrogen, efficiency improvements, carbon management, and collaborative projects with universities and research institutes.
New Name, New Direction
In 2021, Towngas China was renamed Towngas Smart Energy Company Limited. This name change repositions us as a leading integrated clean energy supplier, with technology and innovation as our focus. Through our clean and reliable energy supply, we are supporting the objective of carbon neutrality.
Hydrogen as Energy
The town gas we supply in Hong Kong is 49 per cent rich in hydrogen. We have been exploring the feasibility of separating hydrogen from town gas for clean energy applications such as hydrogen fuel cells for buses.
Green Finance
We continued our green finance initiatives and concluded ESG loans at a total value of HK$2 billion, linked with selected ESG key performance indicators.
2021 Credit Ratings: Moody’s: A1 | S&P Global: A-
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Mainland Utility Businesses
A New Focus on Smart Energy
We not only meet the demand for clean, reliable energy that is essential for sustained economic growth in the Chinese mainland but also help to reduce carbon emissions through our smart energy projects, which are now the focus of the Group’s business development. By utilising our innovative technology, we can contribute towards the goal of creating blue skies for the country.
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Hong Kong Gas Business
A Tradition of Innovation
In our business, we provide innovative solutions such as our integrated desiccant dehumidification system (D-PAU) that helps medical centres and hospitals improve environmental hygiene and energy efficiency.
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Diversified Businesses
Waste to Energy for a Greener World
We are a leader in the technology of converting biomass materials such as bio-grease and agricultural waste into renewable energy, initially as substitutes for fossil fuels. We are now producing advanced biofuels that will help to create a greener world.
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Sustainability
Thinking Sustainably, Acting Responsibly
We have rolled out a series of Environmental, Social and Governance (ESG) initiatives that create shared value for our stakeholders in the community and help to build a sustainable future.
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