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Driving a Global Net-zero Future The Asian Power Sector

Nov. 4, 2021 – 9:00-10:30

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CLP’s Pathway to Net-Zero by 2050

David SimmondsGroup General Counsel & Chief Administrative Officer,Company SecretaryCLP Holdings Limited4 November 2021

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THE URGENT NEED FOR ACCELERATED CLIMATE ACTION

“It is unequivocal that human influence has warmed the atmosphere…Global warming of 1.5°C and 2°C will be exceeded during the 21st century unless deep reductions in CO2 and other greenhouse gas emissions occur in the coming decades.”

Climate Change 2021: The Physical Science BasisWorking Group I contribution to the

Sixth Assessment Report of the Intergovernmental Panel on Climate Change

How can the Asian power sector contribute to a net-zero future?

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CLP’S CLIMATE VISION 2050

• CLP was the first Asian-headquartered power company to set carbon intensity reduction targets for its generation portfolio

• Published first Climate Vision 2050 in 2007 with a focus on the ambition to mitigate CLP’s climate impact

• Integral part of CLP’s climate strategy which covers key considerations around climate adaptation and scenario analysis, among others

• Targets strengthened over time with most recent strategic review conducted in 2021

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CLP’S CLIMATE VISION 2050 INFORMS OURBUSINESS STRATEGY AND GUIDES OUR INVESTMENTS

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OUR NET-ZERO COMMITMENT ADDRESSES CLIMATE SCIENCE

CLP’s key targets and commitments:

• Achieve net-zero greenhouse gas emissions across our value chain by 2050;

• Meet science-based targets for 2030 to align with the Paris Agreement goal of limiting global warming to well-below 2°C above pre-industrial levels. Our interim targets for 2040 have also been strengthened for the same ambition; and

• Phase out coal-based assets by 2040 —a decade earlier than pledged previously.

Furthermore, we will continue to pursue efforts to limit global warming to 1.5°C and further review our targets at least every five years.

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• Invest in best-in class technologies and innovative programmes to reduce the emissions from our operations and our customers

• Invest in power transmission and distribution systems, batteries, and other innovative energy storage solutions

• Increase adoption of smart meters in Hong Kong and Australia to help customers track energy use

• Help customers improve their energy efficiency and conservation knowledge

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CLP’S EMERGING ENERGY-AS-A-SERVICE INFRASTRUCTURE

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THANK YOU

©2021 CLP Holdings Limited. All rights reserved.