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United Nations Global Compact and Sustainable Development Goals

Our Alignment to the United Nations Global Compact

Power Assets is a signatory of the United Nations Global Compact, a voluntary multi-stakeholder platform that convenes multinational companies to align against 10 principles covering environment, anti-corruption, human rights and labour standards.  As a signatory, the Group supports the 10 principles and is committed to making them part of its strategy, culture and day-to-day operations. It is also committed to an annual Communication on Progress, which will be incorporated in our future sustainability reports, to communicate the progress made in implementing the 10 principles and in supporting broader UN Sustainable Development Goals (“SDGs”).

What Are the SDGs?

The SDGs are a universal blueprint for prosperity for people and the planet, now and into the future. They represent the collective actions the world can take to address the most pressing issues we face as a global community – inequality, injustice, poverty, and climate change.

These global goals recognise the synergies between improving economic prosperity, health, education, and the environment to set society on a transformative path towards a more resilient and sustainable future.

Our Prioritisation Process

While we recognise that our business impacts most of the 17 SDGs to varying degrees, we evaluate our primary contribution by:

  • Connecting our long-term targets and annual progress to SDG targets
  • Analysing the 169 SDGs underlying targets and connecting them to our material focus areas and future strategic direction

The three goals and eight targets that resulted from this prioritisation represent where Power Assets has the greatest capacity for impact and action. We will continuously review and incorporate additional SDGs relevant to us in the future.

Goal 7 – Affordable and Clean Energy

7. Affordable and Clean Energy
  • Ensure universal access to affordable, reliable and modern energy services
  • Increase substantially the share of renewable energy in the global energy mix
  • Double the global rate of improvement in energy efficiency

Commitments

Power Assets is committed to providing modern forms of energy with environmentally sustainable and financially affordable options. We are committed to increasing our portfolio of cleaner energy assets.

Objectives:

Decarbonisation:

  • Replace or convert coal-fired units to gas-fired units
  • Expand renewable energy, waste to energy, renewable natural gas, and carbon capture capacity

Hydrogen economy:

  • Expand renewable energy portfolio
  • Blend hydrogen into existing gas distribution networks and ultimately replace natural gas with hydrogen to achieve zero emission
  • Support communities by providing affordable electricity

Goal 9 – Industry, Innovation and Infrastructure

9. Industry, Innovation and Infrastructure
  • Develop quality, reliable, sustainable and resilient infrastructure with a focus on affordable and equitable access for all
  • Upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally technologies

Commitments

  • We are committed to making significant investments in sustainable and resilient infrastructure. We aspire to have transformative impacts on the community

Objectives

Smart Cities:

  • Roll out smart meters, provide EV charging facilities, and educate the community on sustainability, energy efficiency, and renewable energy

Invest in technology and innovative solutions:

  • Digitise electricity networks and develop advanced automated low-voltage distribution

Goal 13 – Climate Action

13. Climate Action
  • Strengthen resilience and adaptive capacity to climate-related hazards and natural disasters
  • Integrate climate change measures into national policies, strategies and planning
  • Improve education, awareness-raising and human and institutional capacity on climate change mitigation, adaptation, impact reduction and early warning

Commitments

  • We recognise the urgency to combat climate change and impacts by identifying specific actions for mitigation and adaptation. We are committed to reducing the GHG emissions of  our operations.

Objectives

Climate impact assessment and climate strategy:

  • Expand renewable energy in the grid and carbon capture, usage and storage
  • Efficient operations and Demand-side management Decarbonisation of gas networks:
  • Blending hydrogen into existing gas distribution networks and ultimately replacing natural gas with hydrogen to achieve net zero targets

Modernising and digitising electricity networks