Cornerstone Technology Contributes to Carbon Neutrality
As the world transitions towards a low-carbon economy, the demand for electric vehicles (“EVs”) continues to grow, along with the need for charging infrastructure in Hong Kong. Cornerstone Technologies Holdings Limited (“Cornerstone” or the “Group”) is dedicated to providing convenient and sustainable charging solutions for EVs. The Group continuously expands its EV charging network, seizes sustainable development opportunities and contributes to carbon neutrality goals through a comprehensive carbon management system.
Constructing Green and Low-carbon Transportation through TechnologyHong Kong has set a target of achieving carbon neutrality before 2050. According to the Hong Kong Environmental Protection Department, greenhouse gas emissions from the transportation sector accounted for 19.7% of total emissions in 2020, making it the second largest source of emissions in Hong Kong. Therefore, EV will be crucial to achieving the goal of carbon neutrality. In 2022, Hong Kong’s adoption rate of EV recorded an historic high in terms of sales, with more than half of all newly registered cars being electric. At the same time, Hong Kong and rest of Asia is lagging behind the popularisation of EV due to shortage of EV infrastructure. Cornerstone actively seizes sustainability opportunities and continuously develops and expands EV charging business in Hong Kong.
As one of partners of Link Asset Management Limited's EV Charging Programme, Cornerstone will provide EV charging points in respect of 33 of the 113 Link Hong Kong car parks, assisting Link in advancing its sustainability strategy. In addition, the Group intends to operate the EV charging infrastructure and integrate this network into its recently launched Cornerstone GO platform, website and mobile application to facilitate its customers to access and pay for these EV charging services.
Advancing Carbon Neutrality through Intelligent Management Platform
To promote the process of carbon neutrality, Cornerstone has launched a team intelligence solution - Cornerstone GO, which is a technology platform aggregating landlord, charge point operators (“CPOs”), EV drivers and marketers under one comprehensive platform. Cornerstone GO's proprietary charging solutions and operating system support the scalable network of charging locations all around Hong Kong, improving charging facilities utilisation of CPOs and customer satisfaction and promoting the adoption of EVs in Hong Kong. Under this platform, the Group currently has over 70 charge points as at the year ended of 2022, targeting to add an additional 33 from the Link project within the year.
Contribute to Dual Carbon Goals with Inevitable Responsibility
Cornerstone is committed to reducing its environmental footprint across all operations. It strictly implements energy-saving measures and establishes responsible resource management practices to minimise its impact on the environment. Cornerstone has purchased renewable energy from CLP Power and HK Electric for its own operations as well as for providing electricity to EV charging.
Looking ahead, the Group will continue to seize opportunities in the development of EV and expand its EV charging network in Hong Kong and Asia Pacific. Moreover, the Group believes in the potential of home charging in Hong Kong and continues to focus resources on getting EV charging systems installed in residential car parks all around Hong Kong, releasing the stress of public chargers, and promote the popularisation of EV in Hong Kong. With the rapid development of the Group's EV charging business, Cornerstone GO will play an important role. The Group will continue to upgrade and enhance Cornerstone GO's functionality to contribute more to carbon neutrality and sustainability.