We have expanded the list of climate policies we assess company engagement with to incorporate land-use related policy, referring to legislative or regulatory measures to enhance and protect ecosystems and land where carbon is being stored. Assessments under this category are currently underweighted in terms of their contribution to the overall company metrics. This weighting will be progressively increased over the next 6 months.
We adjusted the terminology used to describe the queries running down the left-hand side of our scoring matrix and added additional explanatory text to the info-boxes. This has no impact on the scores and methodology. It has been done following user feedback to improve clarity.
In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.
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Climate Lobbying Overview: Power Assets Holdings does not appear to be actively engaging with climate change policy. The company supports the UN Paris Agreement, and government climate neutrality objectives in the UK, Australia and Hong Kong.
Top-line Messaging on Climate Policy: Power Assets Holdings’ engagement on climate change through its top-line communications is positive, despite being limited in number. In its 2021 Sustainability Report, accessed in August 2022, the company supported the Paris Agreement and limiting global warming to 1.5oC. In the same report, CEO of Power Assets Holdings, Tsai Chao Chung supported reaching net zero carbon emissions by the middle of the century and governments’ net zero commitments in Hong Kong, the UK, Australia, and the Netherlands.
Engagement with Climate-Related Regulations: Power Asset Holdings does not appear to transparently disclose positions on, or engagement with, specific climate-related policy and regulations. The company did not respond to any of CDP's Climate Change Information Requests from 2016-2021.
Positioning on Energy Transition: Power Assets Holdings has a mixed position on the energy transition, albeit with limited engagement. In its 2021 Annual Report, assessed in August 2022, Tsai Chao Chung, CEO of Power Asset Holdings supported an accelerated transition away from coal, electrification of vehicles, and an increased investment in renewable energy in order to meet the global climate neutrality goal. In its 2020 Sustainability Report, accessed in November 2021, Power Assets Holdings supported an expanded role for green hydrogen in the energy mix to help decarbonize the economy. In the same 2020 report, the company stated support for measures to help decarbonize and electrify the economy, including the roll-out of smart meters and electric vehicle charging infrastructure. However, in its 2021 Sustainability Report, accessed in August 2022, the company supported transition from coal to gas, stating natural gas is “a cleaner alternative to traditional fuels,’ however, without communicating clearly on the need for the deployment of CCS and methane abatement measures.
Industry Association Governance: Power Assets Holdings has not disclosed its industry association memberships and details on indirect climate-related lobbying activities including positions of industry associations, nor how the company is attempting to influence these positions. Power Assets Holdings has not published an audit of its alignment with industry links. InfluenceMap could not identify any memberships to industry associations in InfluenceMap's database.
Additional Note: Power Assets Holdings Ltd is headquartered in Hong Kong, where InfluenceMap’s LobbyMap platform can currently only make a provisional assessment of corporate climate policy engagement, due to limited capability to access publicly available data on this issue. As it is possible that InfluenceMap is not yet able to fully capture evidence of Power Assets Holdings Ltd's climate policy engagement activities, these scores should be considered provisional at this time.
InfluenceMap collects and assesses evidence of corporate climate policy engagement on a weekly basis, depending on the availability of information from each specific data source (for more information see our methodology). While this analysis flows through to the company’s scores each week, the summary above is updated periodically. This summary was last updated in Q3 2022.