An investor-led initiative, called the Asian Utilities Engagement Program, has been launched to assist electric utility companies in Asia to transition towards net-zero emissions by 2050. The initiative will work with five companies in its first year by enhancing their capabilities in disclosure, governance of climate-related risks and ensuring utilities back policies align with global climate goals. It is backed by 13 institutional investors and stewardship service providers overseeing US&8.8 trillion in assets. The utility companies were chosen based on their greenhouse has emissions, vast reserves of coal fleets, or strategic role in curbing emissions. The five firms selected include China Resources Power Holdings (China), CLP Holdings (Hong Kong), Chubu Electric Power Co. (Japan), Electric Power Development Co. (J-Power) (Japan) and Tenaga Nasional Berhad (Malaysia).

Posted by

Eco Business