ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT (CONTINUED)
3.
SUSTAINABILITY GOVERNANCE
A well-established governance structure is essential in managing ESG-related risks and for enhancing performance along our sustainability journey. The ESG working group comprising representatives from various business units was established to formulate a sustainability strategy for Hong Kong Ferry Group. It provides strategic oversight on our ESG issues and is responsible for planning and supervising our various ESG initiatives. To effectively manage our ESG performance, regular internal meetings were held in 2018 to discuss ESG topics and ensure that business practices align with our sustainability values. To evaluate the effectiveness of our ESG performance, the progress of our sustainability programmes and performance are reported to the Board for review.
Sustainability is integrated into our risk management framework to identify and review ESG-related risks across all business units. The risk management of the Group combines a top-down strategic view with a complementary bottom-up process. ESG-related 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 in the "Corporate Governance Report" on pages 35 to 38 of our Annual Report 2018 for more
details.
4.
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OUR COMMITMENT TO ENVIRONMENTAL STEWARDSHIP
Steered by our spirit of environmental stewardship, Hong Kong Ferry Group has made continual efforts to enhance our sustainability performance over time. As set out in our well-defined environmental policies, we are committed to minimising any negative impacts arising from our operational processes and raising environmental awareness among our staff and the society. To this end, we embrace efficiency, technology and innovation throughout our operations and actively support environmental campaigns launched by the Government of the Hong Kong Special Administrative Region (the "Government") and NGOs.
During the reporting year, we complied with all applicable legal and regulatory requirements regarding environmental protection and there were no non-compliance cases relating to air and greenhouse gas ("GHG") emissions, discharges into water and land, and the generation of hazardous and non-hazardous wastes.
a.
Energy and Climate Change Mitigation
As an environmentally responsible company, we aim to manage our operations in an energy efficient manner to echo calls from the Hong Kong Government for a climate resilient future. Through technological upgrades and energy optimisation, we work to contribute to the local carbon reduction target' set by the Hong Kong Government in Hong Kong's Climate Action Plan 2030+. Since 2011, we have been partnering with external consultants through our Energy and Carbon Management Programme to perform annual carbon audits, set strategies and implement measures to reduce GHG emissions at our two most energy-intensive subsidiaries, namely, The Hong Kong Shipyard Limited and The Hongkong and Yaumati Ferry Company Limited. Since energy consumption in our buildings and offices accounts for a significant proportion of our GHG emissions, we have taken proactive measures to monitor and control our energy use and emissions at our Principal Office, subsidiaries' offices and our managed properties throughout the years.
Reduction of carbon intensity by 65% to 70% by 2030, using 2005 as the baseline.
Hong Kong Ferry (Holdings) Company Limited
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Annual Report 2018
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