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.
DitchCarbon Score
How does Hongkong Electric Holdings's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Electricity from Other Sources industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Hongkong Electric Holdings's score of 49 is higher than 71% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Hongkong Electric Holdings's reported carbon emissions
In 2024, Hongkong Electric Holdings reported total carbon emissions of approximately 7,455,730,000 kg CO2e. This figure includes 6,256,096,000 kg CO2e from Scope 1 emissions, 370,344,000 kg CO2e from Scope 2 (market-based), and 829,290,000 kg CO2e from Scope 3 emissions. In comparison, the 2023 emissions were about 7,909,911,000 kg CO2e, with Scope 1 emissions at 6,875,967,000 kg CO2e, Scope 2 emissions at 348,851,000 kg CO2e (market-based), and Scope 3 emissions at 685,093,000 kg CO2e. The company has set ambitious climate commitments, aiming for a 31% reduction in Scope 1 and 2 greenhouse gas emissions by 2026, compared to 2018 levels. Furthermore, they are targeting a significant 67% reduction in these emissions by 2035, using 2020 as the baseline year, and are committed to achieving net zero emissions by 2050. Notably, they plan to phase out coal-fired generation and have set a Science-Based Target (SBT) to reduce Scope 1 GHG emissions by 68.4% by 2035, relative to 2019 levels. In recent years, the company has also reported an 8% reduction in absolute carbon emissions from 2021 to 2022. These initiatives reflect Hongkong Electric Holdings's dedication to sustainability and its proactive approach to addressing climate change.
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| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Scope 1 | 7,156,111,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 2 | 992,547,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 3 | - | - | 000,000,000 | 000,000,000 | 000,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Hongkong Electric Holdings is participating in some of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
