Towngas, committed to ESG, takes top spot in GBA and HK Business Sustainability indices
The Hong Kong and China Gas Company Limited (Towngas) is committed to shouldering its corporate social responsibility as it believes that the value of giving back to society is as vital as economic value for its long-term development.
The Hong Kong-based public utility company topped the list of the inaugural Greater Bay Area Business Sustainability Index, organized by The Chinese University of Hong Kong Business School’s Centre for Business Sustainability, among 67 Hang Seng Stock Connect Hong Kong Greater Bay Area Index constituents, making it the only enterprise to be ranked at the highest Exemplar tier.
It also emerged from among 50 constituents of the Hang Seng Index to grab first place in the fifth Hong Kong Business Sustainability Index, attaining Exemplar ranking for the second consecutive year.
Behind the awards are Towngas’ unremitting efforts in promoting sustainability, with an emphasis on environmental, social and governance (ESG).
The board of directors takes an active and leading role in determining the direction of the group’s ESG development. An ESG committee has been formed to steer the related projects and to report to the board of directors.
“In r e c e n t y e a r s , To w n g a s has implemented the principle of turning waste to treasure in Hong Kong and the Chinese mainland on top of its continued dedication to quality corporate governance,” said Towngas Managing Director Alfred Chan Wing-kin.
“Through ensuring ethical operations, the company has shouldered its responsibility to society and addressed the needs of its stakeholders.”
Chan said the company will continue to work toward the overarching goal of sustainable development, not only in terms of business expansion, but also in its operational strategies and management approach in order to contribute to the public and society.
It will also strive to improve its ESG performance by promoting innovation, he said.
With business operations both in Hong Kong and the Chinese mainland, Towngas has been working to promote ESG development on both sides.
I n H o n g K o n g , To w n g a s poured approximately HK$350 million ($45.2 million) into its Landfill Gas Utilization Project at South East New Territories Landfill in 2017 in order to help ease Hong Kong’s landfill waste problem and improve the city’s air quality. The project, the largest landfill gas conversion facility of its kind in Asia, is another of Towngas’ landfill gas utilization projects, following its North East New Territories landfill gas project in Ta Kwu Ling.
With a production capacity of 8,000 cubic meters of synthetic natural gas per hour, the project reduces the emission of carbon dioxide by 56,000 metric tons per year, equivalent to that consumed by 2.4 million tree seedlings.
On the Chinese mainland, advanced technologies have been adopted by the hydrotreated vegetable oil plant in Zhang jiagang city, southeastern Jiangsu province, to help reduce environmental pollution and enhance energy efficiency, with low-value nonedible oils being transformed into advanced clean biofuel that emits 90 percent less greenhouse
gases than traditional diesel. More than 24,000 metric tons of biofuel were sold to customers in Europe last year.
The construction of the second phase of the plant was completed in August this year and is currently in trial operation. When in full operation, the total production capacity of the first and second phases will be increased to 250,000 metric tons, bringing both economic and social benefits.
The outbreak of the coronavirus pandemic early this year further deepened Towngas’ understanding of its role as a socially responsible corporate citizen, and the energy supplier poured all its energy into the fight.
To help curb the spread of the coronavirus, the company decided in February to fully sponsor a campaign to spray and distribute nano photocatalytic long-acting disinfectant at the premises of eateries in Hong Kong, working hand in hand with the hard-hit catering industry in the battle
against the pandemic.
As restaurants in Hong Kong grappled with a sharp decline in the number of diners with the coronavirus raging across the city, application of the nano photocatalytic disinfectant, which is able to eliminate up to 99.9 percent of viruses and bacteria for up to three months, played a significant role in enhancing the public’s confidence in dining out.
The campaign started in early March, benefiting thousands of local eateries. Company staff and volunteer teams were recruited to ensure its smooth running.
“Through applying the disinfectant spray for eateries, we hope to strengthen the pub - lic’s confidence in the eateries’ hygiene and show our support for the catering industry, as part of our efforts to tackle the challenge together with the rest of the city,” Chan said.
The company also launched the Unemployed Support Scheme in June in a move to help unemployed people in society weather
the economic storm brought by COVID-19.
The initiative came at a time when Hong Kong’s unemployment rate soared to 6.2 percent in the second quarter, the highest in 15 years.
About 50 staff of all ages were provided with jobs, performing a range of frontline and backend support duties at departments such as Retail Marketing and Sales, Customer Maintenance S e r v i c e s a s w e l l a s To w n g a s Engineering Academy, with an employment period of eight weeks to a year.
In addition to financial suppor t, they also gained richer work experience and a wider social circle that are beneficial for their future career development.
In the face of the severe impact on the economy and employment market in Hong Kong, Towngas said it is fully prepared to take the initiative to drive the discovery and identification of opportunities in the “new normal”.