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Climate Vision 2050 Climate Vision 2050 Climate Vision 2050

Climate Vision 2050

Our decarbonisation journey began back in 2004, when we first targeted to make renewable energy 5 percent of our portfolio by 2010.

In 2007, we launched our Climate Vision 2050 to support the transition towards a sustainable, low-carbon future and to guide our strategy to manage climate-related risks and opportunities. The associated targets are integrated into strategic decision-making for our asset portfolio management, including acquisitions and divestments, write-downs and asset impairments.

Over the years, we have reviewed and updated our targets in response to changing policy drivers and technological advancements. The latest review was conducted in 2017, with new targets announced in 2018.

Our targets

Climate Vision 2050 sets out a series of decadal targets from 2010 to 2050 compared to 2007 levels. These targets are based on our generation capacity on an equity and long-term capacity and energy purchase basis. They consist of two types:

Decarbonisation targets

  • Measure the carbon emissions intensity (kg CO2/kWh). Emissions are calculated in line with the Greenhouse Gas Protocol.
  • The reduction of our carbon intensity to 0.15 kg CO2/kWh by 2050 is our cornerstone target, supported by interim targets for 2020 (0.60 kg CO2/kWh), 2030 (0.50 kg CO2/kWh) and 2040 (0.34 kg CO2/kWh).

Clean energy targets

  • Measure the renewable and non-carbon emitting share (percentage) of our generation portfolio.
  • The targets for renewable energy and non-carbon emitting energy for 2020 are 20 percent and 30 percent respectively while the 2030 targets are 30 percent and 40 percent.
CLP’s Climate Vision 2050

These key metrics help us track how our generation portfolio has evolved over the years and provides guidance on how our business strategy will need to transform over the coming decades.