Towngas secures spot in Dow Jones Sustainability Index for third consecutive year

It also achieved an S&P Global ESG Score of 71, up by six points from last year.

The Hong Kong and China Gas Company Limited (Towngas) has secured a spot in the Dow Jones Sustainability Asia Pacific Index for the third consecutive year.

The company also achieved an S&P Global ESG Score of 71, a six-point improvement from the previous year.

Towngas has implemented numerous initiatives to enhance its ESG performance, including expanding the supply of green methanol, hydrogen, and sustainable aviation fuel to provide eco-friendly fuel solutions for marine, land, and air transport, as well as industrial applications. 

The company is also participating in Hong Kong’s first green hydrogen production project at the SENT Landfill in Tseung Kwan O. The project aims to reduce carbon emissions across multiple sectors, with the first locally produced green hydrogen expected to come online next year.

Towngas has also launched the Towngas Green Supply Chain Finance Programme, encouraging its suppliers to manage and disclose their carbon emissions data, laying the groundwork for collecting Scope 3 greenhouse gas data.

On the social front, the Towngas Volunteer Service Team has contributed over 1 million service hours, assisting more than 8.5 million individuals. The team focuses on underserved community groups, organising events to foster broader social support.

To bolster risk management and resilience, Towngas has conducted climate risk assessments and strengthened its infrastructure. Key measures include installing flood gates, water pumps, and an early warning system at the Tai Po Gas Production Plant to mitigate risks from extreme weather events.

The company’s Board ESG Committee oversees ESG matters, ensuring effective supervision and management. To further drive performance, the remuneration packages of the managing director and senior executives are tied to achieving material ESG objectives.

Towngas was also recognised in the Hang Seng Corporate Sustainability Index, MSCI ESG Ratings, and CDP Climate Change, and has been featured for the second consecutive year in S&P Global’s Sustainability Yearbook (China Edition), ranking amongst the top 1% of Chinese companies in the corporate sustainability assessment within its industry. 

The company also topped four business sustainability indices by the Chinese University of Hong Kong Business School and has been included in the FTSE4Good Index Series for the first time.