Emission reduction must fall within the schedule of asset renewal
For a group whose main business is transportation, the vast majority of emissions come from the actual operation of aircraft, locomotives and industrial equipment. Therefore, there is only one feasible path for emission reduction: embedding low-carbon requirements into the established cycle of asset renewal, rather than setting up additional emission reduction projects in addition to existing assets.
Scope 1 and 2 emissions intensity (compared to 2015 baseline)
Railway network electrification rate
Sustainable aviation fuel (SAF) blend ratio
Supplier code of conduct signing rate
Data source: 2025 Sustainability Report (released April 22, 2026).
Two nodes, two certainties
The group unveils its net zero roadmap in 2023. We also specify the degree to which both goals are achievable—including variables that we do not yet fully control.
Range One and Two Net Zero
The group's emissions from its own operations and purchased energy have achieved net zero, mainly through the electrification of road networks, electrification of ground equipment and green power procurement.
Net zero across the entire value chain
The entire value chain, including Scope 3, will achieve net zero. The key variables are the large-scale supply of sustainable aviation fuel and the collaborative emission reduction of the supply chain.
"We will not cover up an uncertain variable with a pretty road map. If the SAF supply curve does not change, the 2050 target needs to be re-discussed - we will tell it like it is, rather than wait until closer to explain."
— 覃天轶 集团首席公共关系官
environment
Put emissions reductions in asset renewal schedules, not statements.
- 01
The electrification transformation of the railway network is promoted according to the order of line load, with priority given to the transformation of trunk line sections with the largest traffic volume.
- 02
Yellow Airlines replaces high-fuel-consuming models with a new generation of wide-body aircraft, and the average age of the fleet and unit fuel consumption are simultaneously included in quarterly disclosures.
- 03
The electrification transformation of ground equipment, station vehicles and subway auxiliary systems is included in the fixed annual plan.
- 04
The supply of sustainable aviation fuel is locked in long-term purchase agreements, and the blending ratio is disclosed year by year.
society
Public service obligations are not cost items and are one of the reasons for the existence of the group.
- 01
The basic service frequency and affordable fares of remote railway lines are not based on the profit or loss of a single line.
- 02
The new station Tsing Shing Metro is 100% designed according to barrier-free standards, and the renovation of existing stations is included in the year-by-year promotion plan.
- 03
Yellow Medical takes the number of people covered by services and the number of accesses to grassroots institutions as the primary assessment criteria.
- 04
Yellow Philharmoniker arranges low-cost performances and outdoor concerts for the public every performance season.
governance
Make compliance a process, not a training.
- 01
Safety, compliance and sustainable development indicators are included in the assessment of the person in charge of each member company, and have the same weight as operating indicators.
- 02
Major investment decisions are submitted to the Group Investment Committee for review, and member companies do not have the right to make decisions independently.
- 03
The reporting channel is operated by an independent third party and is not relayed by member company management.
- 04
The principle of "facts first, position later" will be followed when disclosing information involving the interruption of security and public services.
Indicators enter the assessment and reports enter the same time point
Safety, compliance and sustainable development indicators are included in the assessment of the person in charge of each member company, and have the same weight as operating indicators. The Group Sustainability Committee monitors the implementation progress and disclosure quality of the net zero roadmap, and reviews the annual breakdown of emission reduction targets.
Starting from 2025, the group's annual report and sustainability report will be disclosed at the same time so that investors can obtain financial and non-financial information at the same time.