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Sustainability Report 2011
2011 Highlights
Our Business
2011 was a record year for the Towngas Group. Cementing our role as a nation-wide
energy supplier and service provider, we operated 138 project companies in mainland
China and our market value reached over HK$150 billion. Together with our 38,000
employees, we served some 15 million customer accounts, which translated into
services for some 50 million people in Hong Kong and mainland China.
Re-iterating our financial strengths, we received a cnAAA rating on Standard & Poor’s
Greater China Credit Rating Scale as well as a cnA rating for Towngas China during
the year. We also became the first Hang Seng Index Constituent Stock in Hong Kong
to raise funds through the offshore renminbi debt capital market with the issue of a
RMB 1 billion 5-year bond in March 2011.
Strengthening our leadership as the largest city-gas group in mainland China, we grew
our city-gas operations by a further seven businesses in 2011 to reach a total of 100
city-gas ventures serving over 13.2 million customers. Gas sales grew to 10.3 billion
cubic metres, an increase of 21% over the previous year.
Supporting the Environment
At the end of 2011, our environmentally-friendly energy arm, ECO’s operations had
grown to a total of 20 projects. In addition to our clean energy projects such as our
landfill gas and coalbed methane operations, our clean coal activities received a major
boost with the commencement of operations of our new methanol plant together with
a coal resources project in Inner Mongolia. We also acquired a coal-mining project in
Inner Mongolia, as well as a logistics hub for coal transportation in Shandong.
Building on the success of our “Carbon Reduction Project Competition” on the
mainland, the competition was held once again in 2011. Based on the 47 submissions
received, carbon emissions were reduced by a further 10,000 tonnes during the year.