CLP sets non-carbon targets for 2020

CLP has new and ambitious interim targets for 2020 as the company implements its Climate Vision 2050 strategy. The new targets were announced through the publication of Our Journey to a Low-Carbon Energy Future - Turning CLP's Climate Vision 2050 into Reality, which reinforces China Light and Power's commitment to taking further action in mitigating climate change.

"Our new targets will see at least 30 per cent of our generation portfolio consisting of non-carbon emitting source by 2020, of which 20 per cent will be from renewable sources. We will also reduce our carbon intensity more aggressively by around 30% from the 2007 level," said Mr Andrew Brandler, Chief Executive Officer of CLP Holdings, in announcing the new interim non-carbon targets.

In 2007, CLP announced that it will significantly reduce the carbon intensity of its generation portfolio by 75% by 2050. Interim targets were established for the years 2010, 2020, and 2035 to enable the company to monitor its progress.

As of 30 June, 2010, CLP's non-carbon-emitting sources, including renewable energy and nuclear, has grown by over 90 per cent from its 2007 levels to over 2,000 MW, largely due to the increase in its investments in renewable energy in the Mainland, India, Australia and Southeast Asia. Today, CLP is the largest wind energy investor in India and one of the largest external renewables investors in China.

"I am pleased to report that we are broadly on track to meet our 2010 carbon intensity reduction target. Our experience has proved that we made the right choice in setting challenging climate vision targets in 2007 and we can change the way we conduct our business," added Mr Brandler.

CLP aims to achieve the new 2020 targets by further expanding its investments in renewable energy, including wind, hydro, and solar power. It will also capitalise on the accelerated growth of nuclear power in the Chinese Mainland and will maximise opportunities presented in the wider acceptance and deployment of gas-fired generation. Furthermore, CLP will continue to move away from conventional coal-fired power stations and focus in selected markets on super-critical or ultra-critical coal-fired power plants

With the international policy framework on climate change expected to evolve over the next two years, the company will review its targets for 2020 again by 2013.

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Tags: non-carbon-emitting sources, renewable energy, nuclear, non-carbon targets