Company Information
Name: China Resources Power Holdings Co Ltd (CRP)
Market: China
Installed capacity (as of 2023): 37.2 GW (Thermal), 22.6 GW (Non-thermal)
Climate-related targets committed:
Long-term: Achieve carbon neutrality before 2060
Medium-term: – Add 40 GW of grid-connected installed capacity for clean energy by 2025
Engagement Updates
CRP is another state-owned enterprise that AUEP investors engage with and the engagement had a positive start. The engagement group discussed adopting TCFD disclosure and shared sector-specific guidance to facilitate discussion. In 2022, CRP announced plans for a spin-off, publicly listing its renewable assets to raise funds for capital expenditure. Due to changes in investor holdings, CRP was kept under active monitoring within AUEP.
In 2023, CRP followed through on its plans to spin out the renewable assets, announcing the public listing of China Resources New Energy Holdings Co Ltd on the Shenzhen Stock Exchange¹ to raise more funds for wind and solar power project expansions in China.
This year, investors plan to restart engagement with CRP, focusing on its decarbonization strategy and having the company set climate-related targets and other AUEP investor expectations.