Despite affecting fuel supply in Hong Kong, the Strait of Hormuz tension hasn't significantly impacted CLP (0002)'s operations or financials, said CLP's chairman, Michael Kadoori, at the 2026 annual general meeting on Friday.
The AGM had about 1,000 shareholders in attendance, both in person and online. Kadoori said the company's challenges from last year have carried over into this year, including conflicts in the Middle East, but he emphasized that the company will do everything to minimize the impact amid uncertainties.
Regarding CLP's business operations, Kadoorie said that Hong Kong, the core market, has seen growth in returns on electricity investments. He highlighted two growth areas in data centers and transportation electrification, and expects this trend to continue into 2026.
On the decarbonization front, he said, with coal consumption reduced by more than 10 percent and a zero-carbon energy mix further expanded, CLP's greenhouse gas emission intensity has continued to decline. He said the company will also launch a new round of review of its Climate Vision 2050 this year.
Kadoorie said CLP is launching a new digital strategy for AI development, including involving AI and data analysis in daily operations to improve efficiency and customer service. He emphasized that CLP has strict policies, procedures, and conduct in AI operations.
Kadoorie pointed out that CLP's development stems from the family's firm commitment to Hong Kong, reflecting the company's continued investment to support Hong Kong's development, including the capacity expansion of the clean energy transmission system, plans to receive and handle more zero-carbon electricity from the mainland, and preparatory work to provide power infrastructure for the Northern Metropolis.
𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓
