- For annual performance, please refer to our Sustainability Report 2020.
As the operator of a reliable, efficient and environmentally friendly transportation system, we offer a low carbon solution connecting communities with a greater carrying capacity than other modes of transport.
In terms of operations, we have taken actions to mitigate our greenhouse gas (“GHG”) emissions through energy efficiency initiatives and adapt to the impacts of climate change through weather impact assessments of our facilities and regular inspections and assessments of our railway infrastructure.
To tap into a growing market and diversify our sources of capital, we have developed a Sustainable Finance Framework and issued Green Bonds to support our energy efficiency and low carbon initiatives.
As a pioneer in green finance in Hong Kong, we set up a Green Bond Framework in 2016 in alignment with the Green Bond Principles issued by the International Capital Market Association to integrate environmental, social and corporate governance into our financing and decision-making processes.
Expanding on the foundation of our Green Bond Framework, we further established a Green Finance Framework in 2018 to cover other forms of green finance, factoring in components recommended in the Green Loan Principles issued by the Asia Pacific Loan Market Association.
In 2020, we put in place a Sustainable Finance Framework to cover a wider range of financing transactions where the proceeds are used for furthering the development of sustainable urban infrastructure in support of the United Nations Sustainable Development Goals.
The Frameworks set out how we use the proceeds to fund initiatives to enhance long-term service levels and environmental performance, as well as the reporting thereon.
The arrangement of Sustainable Finance is an integral part of MTR’s financing strategy and reflects our commitment to sustainable development. The success of our green and other capital market issuances indicated that MTR’s finance strategy is well supported and recognized by our stakeholders.
Climate-related Financial Disclosures
The June 2017 report of the Taskforce on Climate Related Financial Disclosures (“TCFD”) recommends that large companies evaluate how their businesses may be affected in the short, medium and long term by both physical and transition risks. We have in place a governance structure to ensure climate change issues are discussed at the board level and the regular assessment of our climate related risk through the Enterprise Risk Framework. We have conducted climate resilience assessments on our key operating assets and have energy reduction targets for our railway and property divisions.
We have structured our climate-related financial disclosures under the four core areas recommended by TCFD: governance, strategy, risk management, and metrics and targets. Details are provided in our Sustainability Report.
We also disclose our climate-related information through our publicly available CDP response.