Annual Report 2022

Transport International Holdings Limited 2022 Annual Report 60 SUSTAINABILITY REPORT with free 5G Wi-Fi internet connection services provided and ventilation windows installed. The majority of these buses have been deployed on routes passing through busy corridors to improve the roadside air quality in high-traffic areas. We have been replacing older bus models with the latest and more energy-efficient bus models to enhance our bus fleet’s longevity and environmental performance to achieve zero- emission. The average age of the KMB bus fleet is 6.91 years, while that of LWB is 3.97 years. Exploring Renewable Energy and Zero-emission Bus Technologies KMB and LWB strive to explore renewable energy and zero- emission technologies, demonstrating KMB and LWB’s determination to introduce green public transport in Hong Kong. Attaching great importance to pursuing the Government policy of achieving carbon neutrality by 2050, KMB and LWB has rolled out an electrification roadmap and are planning to install around 30,000 solar panels to put into practice its development blueprint for new energy and electric buses. KMB plans to introduce 500 electric buses in the coming three to five years, accounting for one-eighth of the whole bus fleet. In the long run, KMB hopes that new-energy buses will be deployed in the entire fleet by 2040 to help make Hong Kong a green city. Currently, KMB and LWB have 30 single-deck electric buses. Together with the 52 double-deck electric buses to be delivered by 2023, the two companies are expected to have over 80 electric buses by 2023; Green Finance KMB closed two HK$800 million sustainability-linked loan facilities with MUFG Bank Limited and Chong Hing Bank Limited in order to drive Hong Kong towards zero emissions through green finance. KMB has set out key sustainability performance targets in relation to the reduction of greenhouse gas emissions of buses, and an increment in green procurement and the average training hours for employees. KMB will continue identifying suitable financing solutions and lead Hong Kong’s transportation industry into a new green era. Greenhouse Gas Emissions Reduction KMB and LWB seek to minimise greenhouse gas emissions by judicious application of the latest technologies and interventions. Environmental Bus Fleet We invest in eco-friendly buses that meet the strict exhaust emission standards of the European Council of Environmental Ministers to create a better environment and minimise climate- related impacts. At the end of 2022, there were 776 Euro VI buses (including three Euro VI diesel-electric hybrid buses), 2,936 Euro V buses, 26 battery-electric buses, including a batch of 16 new- generation electric buses newly deployed in the KMB fleet, and 132 Euro VI buses, 116 Euro V buses and four battery- electric buses in the LWB fleet. The new electric buses are zero-emission buses. They meet the latest standards of KMB, KMB collaborates with business partners in launching the Decarbonisation Partnership Programme to promote green transportation and move towards carbon neutrality