ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT (CONTINUED)
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SUSTAINABILITY GOVERNANCE
The ESG working group was established to formulate sustainability strategy for Hong Kong Ferry Group. The working group is comprised of representatives from different business units working together to plan and co-ordinate different ESG initiatives across functions and departments. Regular internal meetings were held in 2017 to discuss ESG topics relevant to Hong Kong Ferry Group and ensure that business practices align with its CSR values. External consultants were also engaged to advise the working group on energy-saving measures and target-setting. The progress of our sustainability programmes and performance were reported to the Board for review.
The Company has established a robust approach to risk management, which combines a top-down strategic view with a complementary bottom-up process. ESG risks such as staff recruitment challenges and compliance with environmental laws and regulations are regularly reviewed, evaluated and monitored in accordance with our risk management process and internal control systems, and are reported to the Board. Please refer to the "Risk Management and Internal Controls" sub-section of "Corporate Governance Report" on pages 35 to 38 of our Annual Report 2017 for more details.
OUR COMMITMENT TO ENVIRONMENTAL STEWARDSHIP
Hong Kong Ferry Group has long been practising environmental stewardship across our business units. We apply the precautionary principle at every stage of our operations, bearing in mind our responsibility to protect the environment for the present and future generations. We have supported various green initiatives launched by the local government and NGOs, and continually identified opportunities to improve energy efficiency, reduce air emissions, conserve water and recycle materials throughout all operations. During the reporting year, Hong Kong Ferry Group complied with all relevant environmental laws and regulations of Hong Kong.
Energy and Climate Change Mitigation
Recognising the global challenge of climate change, we aim to actively contribute to reaching the local carbon reduction target set by the Hong Kong Government'. Since 2011, the Energy and Carbon Management Programme has been in place at The Hong Kong Shipyard Limited and The Hongkong and Yaumati Ferry Company Limited. Being the two most energy-intensive business units, we have been working with our external consultants to conduct annual carbon audits, set strategies and implement initiatives to reduce greenhouse gas ("GHG") emissions. Throughout the years, we have applied energy efficient solutions at the Principal Office and subsidiaries' offices, including the installation of solar film on windows, application of solar thermal paint on the roof, replacement of traditional fluorescent tubes in phases after suitability tests and installation of new air compressors. During the reporting year, we have improved the energy performance of the main elevator at the Principal Office, which has been in service for 23 years. With the installation of Variable Voltage Variable Frequency ("WWWF") drive, the electricity consumption of the elevator has been reduced by about 40%.
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Reduction of carbon intensity by 65% to 70% by 2030, using 2005 as the baseline.
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Hong Kong Ferry (Holdings) Company Limited Annual Report 2017
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