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HONG KONG, Sept. 26, 2024 /PRNewswire/ -- HKBN Ltd. ("HKBN"; SEHK stock code: 1310) proudly announces its attainment of SBTi (Science Based Targets initiative) validation. Representing another bold step in its climate action pledge, HKBN has set near-term targets to reduce absolute scope 1 and 2 GHG emissions 50.65% by FY2030 from a FY2022 base year. HKBN also commits to reduce absolute scope 3 GHG emissions from purchased goods and services and use of sold products 25.00% within the same timeframe. This bold stance underscores HKBN's serious commitment to driving environmental, social and governance (ESG) progress through technology, aligning with the SBTi's Business Ambition to limit overall global temperature rise to 1.5°C.
HKBN takes climate action to the next level by attaining SBTi validation for its emissions targets.
To hit these emission targets, HKBN Group will step up efforts to enhance its energy efficiency through technology upgrades and business restructuring. Key carbon reduction measures in the pipeline include network technology upgrades, robust network optimisation, data centre integration, and increased focus on sustainable procurement. Through rigorous resource consolidation efforts, the Group is actively working to minimise waste generation, and effectively reduce its carbon footprint for a more sustainable future.
William Yeung, HKBN Co-Owner, Executive Vice-chairman and Group CEO said, "Guided by our core purpose of "Make our Home a Better Place", we have continued to make a difference by spearheading ESG initiatives. The SBTi validation further cements HKBN's leadership role as an ESG enabler. We will continue to promote technological innovation and sustainable practices, and contribute towards building a greener, low-carbon future."
HKBN's ESG journey has been marked by notable achievements. In 2022, Morgan Stanley Capital International (MSCI), a global leader in financial and ESG assessment, upgraded HKBN's ESG performance to the highest possible AAA rating in 2022, a distinction that it still maintains today. This places HKBN among the top 14% of telcos worldwide. Since 2016, HKBN has been a constituent of the Hang Seng Corporate Sustainability Benchmark Index, earning an AA rating for three consecutive years (2020, 2021 and 2022), which was further elevated to AA+ starting from 2023.
About HKBN Ltd.
HKBN Ltd. (SEHK Stock Code: 1310, together with its subsidiaries, "HKBN" or the "Group") is an investment holding company. Headquartered in Hong Kong with operations spanning across Hong Kong, Macau and mainland China, the Group is a leading integrated telecommunications and technology services provider. The Group provides a full range of one-stop, high-quality information and communication technology (ICT) solutions and an unlimited services portfolio. HKBN's extensive tri-carrier fibre infrastructure covers over 2.57 million residential homes and 8,100 commercial buildings and facilities across Hong Kong. Committed to creating a lasting positive impact to wherever it operates, HKBN embraces a core purpose to "Make our Home a Better Place to Live" and has received a highest possible rating of AAA in MSCI's 2024 ESG Ratings assessment in environment, society and governance. The Group is managed by hundreds of Co-Owners (supervisory and management level Talents in the Group) who invested their savings to buy shares of HKBN Ltd.. For more information about HKBN, please visit www.hkbn.net/en.
