Hongkong Electric Holdings
Hongkong Electric Holdings Limited, commonly referred to as HK Electric, is a leading energy provider headquartered in Hong Kong. Established in 1890, the company has played a pivotal role in the region's electricity supply, primarily serving Hong Kong Island and Lamma Island.
Operating within the utilities industry, HK Electric focuses on the generation, transmission, and distribution of electricity, with a commitment to sustainability and innovation. The company is renowned for its advanced power generation technologies and a diverse energy mix, including renewable sources.
With a strong market position, HK Electric has achieved significant milestones, including the implementation of smart grid technologies and a robust infrastructure that supports the growing energy demands of the region. Its dedication to reliability and environmental stewardship sets it apart in the competitive energy landscape.
+22 vs industry average
Hongkong Electric Holdingsās score of 37 is higher than 67% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Electricity from Other Sources is among the most carbon-intensive industries
Industry performance
The Electricity from Other Sources industry has reduced its overall emissions by 38% since 2019
Emissions trajectory 2020 ā 2027
Reported emissions
Scope 3 accounts for ā¢ā¢ā¢ of total emissions.
Hongkong Electric Holdings's reported carbon emissions
In 2024, Hongkong Electric Holdings reported total carbon emissions of approximately 7.46 billion kg CO2e. This figure includes Scope 1 emissions of about 6.26 billion kg CO2e, Scope 2 emissions of approximately 370.3 million kg CO2e (market-based), and Scope 3 emissions of about 829.3 million kg CO2e. The previous year, 2023, saw total emissions of approximately 7.91 billion kg CO2e, with Scope 1 at about 6.88 billion kg CO2e, Scope 2 at approximately 348.9 million kg CO2e (market-based), and Scope 3 at around 685.1 million kg CO2e. Hongkong Electric Holdings has set ambitious climate commitments, aiming for a 67% reduction in Scope 1 and 2 greenhouse gas emissions by 2035, using 2020 as the baseline year. The company is also working towards achieving net zero emissions by 2050. In the near term, they plan to reduce Scope 1 and 2 emissions by 31% compared to 2018 levels and ensure that at least 50% of their commercial vehicle fleet is ultra-low emission or hybrid by 2026. These initiatives reflect the company's commitment to sustainability and align with global climate goals, demonstrating a proactive approach to reducing their carbon footprint.
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Hongkong Electric Holdingsās Climate Goals (2030 & 2050)
7 goals2035
67% reduction in Scope 2
The Group is in full support of these aims and is diligently pursuing initiatives across its operations to significantly reduce its carbon eā¦
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
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Scope 3 top emissions categories
No scope 3 category breakdown has been disclosed yet.
Climate initiatives
Science Based Targets Initiative
Carbon Disclosure Project
The Climate Pledge
UN Global Compact Climate Champions initiative
RE 100
Climate Action 100
Emissions comparison with industry peers
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Hongkong Electric Holdings
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