$6.75 billion sustainability-linked loan secured In FY25, HKBN secured a $6.75 billion sustainability-linked loan (HKD) tied to SBTi-validated GHG reduction targets, employee phishing resilience, and Scope 3 supply chain decarbonisation. Interest rate incentive adjustment mechanism rewards target achievement.
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Scope 3 Category 1 calculation methodology change to goods receipt amount Starting from FY25, goods receipt amount used instead of purchase order value for spend-based Scope 3 Category 1 calculations to better reflect actual spending. Prior year (FY24) data was not restated as goods receipt amounts were unavailable at required detail level.
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China Mobile Hong Kong takes control; full board replacement On 5 September 2025, China Mobile Hong Kong Company Limited (CMHK) completed a voluntary general cash offer and replaced the entire senior leadership, including new Chairman Ling Hao and CEO Li Xin from China Mobile. CMHK owned 74.84% of HKBN by 31 October 2025. All previous executive directors resigned.
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Primary: SBTi-validated emission reduction targets linked to executive pay and sustainability-linked financing HKBN has set near-term science-based targets validated by the SBTi in FY24: a 50.65% absolute reduction in Scope 1 and 2 GHG emissions and a 25% absolute reduction in Scope 3 GHG emissions (Categories 1 and 11) by FY2030 from a FY2022 baseline. These targets are directly linked to C-suite remuneration and embedded in the $6.75 billion sustainability-linked loan, which uses an interest-rate incentive adjustment mechanism to lower borrowing costs when targets are met.
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No renewable electricity sourced; 0% renewable energy mix in FY25 HKBN currently sources 0% of its energy from renewable sources, with 99.40% of energy consumption being grid electricity in FY25. The company has identified the use of new technologies and lower-emission energy sources as a medium-term climate opportunity and states it will 'identify energy consumption hotspots and collaborate with vendors to implement new technologies and lower-emission energy sources.' No formal renewable energy procurement targets or PPAs have been disclosed as of FY25.
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PwC limited assurance on ESG KPIs retained for FY25 PricewaterhouseCoopers conducted limited assurance (ISAE 3000/3410) on selected sustainability KPIs including Scope 1&2 GHG emissions, energy consumption, workforce and health & safety data for FY25, consistent with prior years.
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Primary: Network energy efficiency: GPON migration and cooling upgrades HKBN's primary decarbonisation lever is reducing electricity consumption across its network operations, which account for the majority of its Scope 2 emissions. The company has completed a strategic migration from Metro Ethernet (ME) to Gigabit Passive Optical Network (GPON), reducing heat dissipation in hub and switching rooms. Upgrades to data centre chiller and air-conditioning systems using IoT API enable real-time temperature control. In FY25, electricity consumption was reduced by 22.50% compared to the FY2022 baseline, driving a 24.07% reduction in Scope 1 and 2 emissions.
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Primary: Direct fleet and fuel emission reduction via Smart Fleet Management HKBN introduced a Smart Fleet Management System in FY25 to optimise vehicle routing for field service teams, reducing travel time and shortening service response cycles. This directly reduces Scope 1 GHG emissions from vehicle fuel combustion. Vehicle, generator and mobile generator fuel consumption is tracked as direct energy and has been declining from 621,106 kWh (FY23) to 491,685 kWh (FY25).
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Dependent: Supply chain decarbonisation via supplier ESG assessment and carbon footprint tracking HKBN's largest Scope 3 emissions categories — purchased goods and services (Category 1) and use of sold products (Category 11) — account for ~89% of its Scope 3 footprint. Since November 2024, all procurement tender participants complete an ESG questionnaire covering climate risk management and decarbonisation strategies. From February 2025, selected high-emission suppliers must complete a detailed carbon footprint tracking questionnaire. 20 SME suppliers improved ESG scores in FY25.
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Dependent: Low-carbon product and service development for enterprise customers HKBN develops and sources low-carbon solutions to meet growing customer demand for carbon reduction and to capture transition opportunities. For enterprise customers, this includes low-carbon hardware, Software-as-a-Service, cloud-based managed IoT solutions, virtualisation to reduce energy consumption, and promoting cloud initiatives to transition on-premises infrastructure to more energy-efficient cloud. The company also partnered with Global Switch to provide access to a data centre featuring direct-to-chip liquid cooling technology for AI compute workloads.
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