GlobalData offers a comprehensive analysis of First Pacific, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of Net Zero and associated ESG keywords, GlobalData delivers valuable information on First Pacific‘s ESG performance. GlobalData’s company profile on First Pacific offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
First Pacific, a Hong Kong-based investment management and holding company and its investees (investee companies) have worked towards decarbonisation of their operations through the implementation of initiatives aiming to improve their energy efficiency and GHG emissions reduction, by aligning their sustainability approaches with the United Nations Sustainable Development Goals (“SDGs”). First Pacific's latest filings mentioned the keywords 'Emissions' and 'Climate Change' most number of times in relation to 'Net Zero'.
First Pacific's Head Office has the goal of building on reductions already made in its emissions by reducing its Scope 1 GHG emissions to zero by target year 2030 by the replacement of internal combustion engine vehicles by electric vehicles (“EVs”) as current equipment ends its useful life and requires replacement. The company reported a 15% decrease in its greenhouse gas emissions in 2022, over a 2019 baseline.
First Pacific has taken steps to reduce its emissions, including investing in renewable energy and energy efficiency measures. In 2022, the company reported its Scope 1 emissions at 10,173,636 tCO₂e, Scope 2 emissions at 1,315,573 tCO₂e, and Scope 3 emissions at 255.350,001 tCO₂e. The company has also implemented waste management and water conservation initiatives. For First Pacific's Head Office, the company has introduced energy-saving mechanisms, including the installation of high-efficiency LED lights in offices, the replacement of single-purpose electrical equipment by multi-function devices (printing, scanning, copying, and fax), and the raising of the central office temperature to above 25.5℃.
In addition to its environmental commitments, its investees have also started adopting various renewable or low carbon energy options, including purchasing renewable energy and self-generating green energy, sustainable agricultural, forestry, and livestock management practices.
In conclusion, First Pacific is committed towards decarbonisation of its operations and it monitors the GHG emissions performance of the portfolio by requiring the investees to monitor and report emissions data of their operations.