China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
Contents
(1) Management of nature-related dependencies, impacts, risks and opportunities
(2) Integration of nature-related risks into corporate risk management .. 45
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
About this Report
This report is the first Nature-related Financial Impact Report (hereinafter
referred to as the "Report") published by China Merchants Port Group Co., Ltd.
(hereinafter referred to as "CMPort", the "Company" and "we"). Adhering to the
principles of objectivity, standardisation and transparency, the Report
systematically discloses the Company's nature-related strategic objectives,
initiatives and performance outcomes for the year 2025, addressing stakeholder
concerns.
Reporting Standards
The Report discloses information in accordance with the "Recommendations of the
Taskforce on Nature-related Financial Disclosures" published by the Taskforce
on Nature-related Financial Disclosures (hereinafter referred to as the "TNFD")
in September 2023. Additionally, the Company has made reference to the Guidance
on the Identification and Assessment of Nature-related Issues: The LEAP Approach
Version 1.1 (hereinafter referred to as the "LEAP") to disclose information
regarding impacts on and dependencies of natural capital, as well as associated
risks and opportunities.
Scope of the Report
The scope of the Report covers China Merchants Port Group Co., Ltd. and its
subsidiaries. Unless otherwise stated, the information disclosed in the Report
is consistent with the consolidated financial statements of CMPort
(001872/201872.SZ). To enhance the comparability and forward-looking nature of
the report, certain content has been expanded. The reporting period covered by
the Report is from 1 January 2025 to 31 December 2025 (hereinafter referred to
as the "Reporting Period").
Sources of Information
The information contained in the Report is derived from the Company's operational
statistics, internal documents, financial reports, policy statements and other
publicly available documents. Species data and data relating to protected areas
are sourced from domestic and international third-party databases; such data
will be noted where applicable. Unless otherwise stated, all monetary amounts
in the Report are denominated in RMB.
Report Availability
The Report is published in both Simplified Chinese and English. The electronic
version of the Report has been uploaded to the Company's website
(www.cmp1872.com) for public access and download. In case of any discrepancies
between the two versions, the Simplified Chinese version shall prevail.
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
LEAP Methodology Description
The Company conducts nature-related impacts and dependencies analysis in
accordance with the TNFD LEAP approach to identify and address nature-related
risks and opportunities.
Table 1 Key Elements and Process of the TNFD LEAP Approach
Locate (L) Evaluate (E) Assess (A) Prepare (P)
Interface with Dependencies and Risks and Response and
Nature Impacts Opportunities Reporting
L1 Span of the E1 Identification A1 Risk and P1 Strategy and
business model and of Opportunity resource
value chain Environmental Identification allocation plans
a. Define the Assets, a. Identify the a. The company's
company's Ecosystem company's decisions
industry, business Services and Corresponding regarding risk
activities and Impact Drivers risks and management,
geographical scope a. Identify the opportunities strategyand
of operations. environmental based on natural resource
b. Identify the assets,ecosystem Related allocation based
company's position services and dependencies and on the results of
within the value impact drivers impacts. the analysis.
chain and the associated with
business the company's
activities industry and
upstream and business
downstream of the activities.
value chain.
L2 Dependency and E2 Identification A2 Adjustment of P2 Target
Impact Screening of Dependencies Existing Risk Setting and
a. Screen for and Impacts Mitigation and Risk Performance
activities a. Identification and Opportunity Management
within the of the company's Management a. The company
company's dependencies on a. Describe the sets
industry, value and risk mitigation nature-related
chain and direct impacts on nature. measures and risk targets and
operations that and opportunity defines metrics
involve moderate management to measure them.
and high levels of processes and
inherent elements already
TNFD’s “Guidance on the Identification and Assessment of Nature-related Issues: The LEAP
Approach”
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
dependence on and implemented by the
impact on nature. company.
b. Describe the
company's
adjustments to risk
and opportunity.
management
procedures and
related elements.
L3: Interface with E3 Dependency and A3 Risk and P3 Reporting
nature Impact Opportunity a. Describe the
a. Identify Measurement Measurement and company's
sectors, value a. Measure the Prioritisation approach to
chains and direct scale and scope of a. Assess the disclosing
operational sites the company's priority of the information in
with moderate to dependence on company's relevant accordance with
high potential nature. risks and the TNFD
dependencies on and b. Measure the opportunities. recommendations.
impacts on nature. extent of the
b. Identify the key company's
biotic communities positive and
and specific negative impacts
ecosystems. on nature.
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
L4 Interfaces with E4 Impact A4 Risk and P4 Presentation
sensitive materiality opportunity a. Describe the
locations assessment materiality channels through
a. Describe the a. Assess the assessment which the company
company's company's a. Assess the discloses and
ecologically material impacts. materiality of the presents
sensitive sites in company's relevant nature-related
activities with risks and disclosures.
moderate and high opportunities.
dependence on,
and impact on, the
value chain and
industry.
b. Describe the
ecologically
sensitive areas in
which the company's
direct operations
are located.
Supports preparation of the TNFD recommended disclosures
Strategy D Strategy A Strategy A Governance A
Strategy D Strategy C Governance B
Risk and Impact Strategy D Governance C
Management A (i and ii) Risk and Impact Strategy B
Risk and Impact Management A (i and Strategy C
Management B ii) Metrics and
Metrics and Targets B Risk and Impact Targets C
Management B
Risk and Impact
Management C
Risks and Targets A
Risks and Targets B
For specific TNFD disclosure guidelines, please refer to the Appendix: TNFD Index Table
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
I. Governance
(1) Nature-related Governance Framework
CMPort has established a three-tier ESG governance framework comprising the
"decision-making, management and execution levels", with clearly defined
responsibilities at each level to ensure unified leadership, decision-making
and implementation of all sustainability initiatives. To strengthen ecosystem
and biodiversity conservation efforts, CMPort further clarified the management
responsibilities for nature-related topics at each level of the ESG governance
framework in 2025.
Organizational Structure for Nature-Related Topics Management
Decision-making Level
The Board of Directors serves as the highest supervisory and decision-making
body for nature-related topics. It oversees the assessment of impacts, risks
and opportunities associated with the management of nature-related topics,
integrates sustainability-related impacts, risks and opportunities into the
Company's development strategy, business strategy, major transaction decisions
and risk management considerations, and regularly receives reports from the
Strategy and Sustainability Committee on the management of nature-related topics
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
to ensure that management strategies are effectively implemented.
The Strategy and Sustainability Committee is a specialized committee
established under the Board of Directors, responsible for supervising,
reviewing, deciding upon, and providing guidance on the Company's management
strategies, objectives, and action plans related to nature-related topics. The
Committee reviews the annual assessment of nature-related impacts, risks, and
opportunities, reports significant nature-related impacts, risks, and
opportunities to the Board of Directors, and oversees the implementation of
nature-related topics management.
Management Level
The ESG Leadership Team is responsible for organising and leading the
formulation of management strategies for nature-related topics, and for guiding
the management and implementation of key topics such as ecosystems and
biodiversity. The Company reviews the development trends in nature-related
topics, and identifies, assesses and consolidates sustainability-related
impacts, risks and opportunities.
Execution Level
The ESG Working Team, acting as the primary body responsible for coordinating
and driving the implementation of ESG initiatives, is tasked with defining
responsibilities for managing nature-related issues, establishing
nature-related management objectives, planning and executing work, and ensuring
that nature-related issue management efforts are effectively implemented.
Headquarters departments participate in the formulation of nature-related
management objectives, regularly assess nature-related impacts, risks and
opportunities, identify significant impacts, risks and opportunities, plan
annual routine work and public welfare projects, and drive their implementation
by subsidiaries.
Subsidiaries, in accordance with the headquarters' planning requirements for
nature-related topic management, identify and assess nature-related impacts,
risks and opportunities; establish nature-related issue management systems;
implement work related to ecosystem and biodiversity conservation; continuously
advance local ecological conservation initiatives; and consistently address the
concerns of internal and external stakeholders.
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(2) Stakeholder Engagement
The support of stakeholders is crucial to the Company's sustainable development.
CMPort continues to pay attention to the expectations of stakeholders, including
local communities and residents, and has established a multi-channel,
diversified communication and feedback mechanism to maintain active and
effective communication with stakeholders. By gaining a thorough understanding
of their concerns, views and suggestions, we work together to build a sustainable
ecosystem.
Table 1 CMPort's Stakeholder Communication and Engagement
Stakeholder Communication and Expectations and
CMPort's response
category channels appeals
?Public ?Provide quality ?Innovate service
information service methods, optimise
disclosure ?Safeguard of service procedures,
?Customer visits information security diversify service
? Regular ?Enhanced risk formats, and respond to
customer meetings management customer appeals in a
? Responses to timely and efficient
and handling of manner
Customers
customer's ?Improve information
feedback security protection
? Customer systems to protect
satisfaction customer data
survey privacy
?Identify potential
risks and implement
effective risk
management
?Public ?Transparent ?Disclosure of interim
information financial information and annual financial
disclosure disclosure reports
?Shareholders' ?Good operating ?Maintain sustainable
meetings results growth in business
?Performance ?Asset preservation operation and
Shareholders
briefings and value appreciation profitability
and Investors
?Research and ?Enhanced risk ?Identify quality
exchange management assets and enhance the
activities management and
?Regular working operation of existing
meetings assets
?Identify potential
risks and strengthen
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risk control
?Public ?Good operating cash ?Maintain steady
information flow operations and
Creditors
disclosure ?Project financing performance growth
?Irregular work market opportunities ?Innovative financial
meetings cooperation models
?Public ?Compliant operation ?Strictly comply with
information ?Tax compliance laws and regulations in
disclosure ?Supporting local operating activities
Government and ?Industry economic development ?Tax compliance
regulatory exchange ?Protecting the local ?Create local
authorities activities ecological employment
?Daily environment opportunities
communication and ?Actively fulfill
reports corporate social
responsibilities
?Public ?Good development and ?Provide competitive
information promotion salaries and benefits,
disclosure opportunities clarify promotion
?Daily ?Secure basic mechanisms and
communication and employee rights pathways, and offer
meetings ?Work-life balance professional training
?Regular ?Safeguard employees'
training legal rights and
Employees ?Internal establish
feedback channels whistleblower
protection mechanisms
?Create a diverse,
equal, inclusive,
healthy and safe work
environment
?Organize employee
caring activities such
as holiday events
?Public ?Win-Win Cooperation ?Improve and establish
information ?Transparent cooperation
disclosure procurement and honest mechanisms
Suppliers and ?Project cooperation ?Build a sustainable
partners cooperation supply chain
?Regular
meetings
?Daily
communication
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?Public ?Reduce the negative ?Strengthen
information impact caused by identification of
disclosure operating activities external risks of
?Cooperation on ?Collaborate on operating activities to
public welfare charitable actions avoid and reduce
Public welfare
events negative impacts
organizations
?Cooperate with local
public welfare
organizations to carry
out tailored public
welfare activities
?Public ?Support local ?Promote local
information community development economic and social
disclosure ?Conduct public development through
?Charitable welfare volunteering investment and
events services operating activities
Communities ?Volunteering ?Collaborate with
services local communities and
public service
organizations to
conduct
context-specific
charitable activities
?Public ?Reduce the negative ?Actively respond to
information impact caused by media concerns and
disclosure operating activities conduct media
?Industry ?Industry influence interviews
exchange ?Business performance ?Improve the Company's
activities and sustainability business performance
Media
?External events performance and sustainability
of the Company influence in the
industry
?Invite media to
participate in the
Company's external
events
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
II. Strategy
(1) Positioning and Interfaces with Nature
CMPort is a core enterprise of the transportation and logistics sector under
China Merchants Group and an important implementation entity for the Group's
goal of building a "world-leading enterprise". The Company currently operates
and invests in 51 ports and 26 countries and regions globally. In accordance
with the WWF Biodiversity Risk Filter (WWF BRF) industry classification , the
Company identifies the industry distribution across the upstream, midstream and
downstream segments of its value chain, thereby clarifying the business
activities within its value chain.
Table 2 Industry Distribution and Business Activities of CMPort
within the Value Chain
Value Chain
WWF BRF Industry Classification Business Activities
Segment
Electricity generation – Electricity supply from
hydroelectric hydropower
Electricity generation – Electricity supply from solar
solar and wind and wind power
Upstream Oil, natural gas and consumable Oil, natural gas and other
fuels energy supplies
Manufacture of equipment such
Manufacture of motor vehicles,
as cranes, trailers, tractors,
electrical equipment and
hoists, forklift trucks and
machinery
stackers
Loading, unloading, stacking,
Transport Services – Port warehousing and ancillary
Midstream Operations services for containers and
bulk cargo
Land development and New construction,refurbishment
construction and expansion of ports
Downstream Transport Services – Maritime Maritime transport services for
The 26 sectors identified by WWF BRF have been derived from existing standard industry
classifications. As some broader Global Industry Classification Standard (GICS) Classification
(e.g. electricity generation) face diverse biodiversity-related risks, further segmentation (e.g.
breaking down into solar/wind power generation; hydropower; combustion, etc.) can better identify
the impacts of different sub-sector activities, whilst other sectors facing similar
biodiversity-related risks (such as professional services, software services, etc.) do not
require such breakdown and are therefore grouped into the same category.
The midstream and downstream segments of CMPort’s value chain are both classified under the
“Transport” sector in the WWF BRF industry classification. To distinguish them more clearly,
midstream transport services are further specified as “port operations”, whilst downstream
transport services are further specified as “shipping services”.
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
Services containers and bulk cargo
Logistics and supply chain
services
During the current year, CMPort conducted an identification of the distribution
of key species and ecologically sensitive locations for its subsidiaries. Taking
into account the actual circumstances of the subsidiaries and data availability,
we defined the data assessment scope with the location of the subsidiary as the
centre and radii of 2 km, 5 km, and 10 km, respectively. Due to limited
availability of data on species distribution and ecologically sensitive areas
overseas, the data assessment scope for overseas subsidiaries this year defined
the potential impact area with a radius of 50 km. In the future, the Company
plans to further narrow the assessment scope to improve data accuracy.
Table 3 CMPort's Subsidiaries
Abbreviation of
No. Name of Subsidiary Country and Region
Subsidiary
China Merchants Port (South China) China Merchants Port (South Guangdong Province,
Management Center China) Management Center China
China Merchants Port (South
China Merchants Port (South China) Guangdong Province,
Bulk Cargo Management Center China
Center
Guangdong Province,
China
Shantou China Merchants Port Guangdong Province,
Company Co., Ltd. China
Zhangzhou China Merchants Port Fujian Province,
Co., Ltd. China
Zhangzhou China Merchants Xiamen Fujian Province,
Port Affairs Co., Ltd. China
China Merchants Bonded Logistics Guangdong Province,
Co., Ltd. China
China Merchants International CMITQ Shandong Province,
Terminal (Qingdao) Company Ltd. China
China Merchants International CMIT Guangdong Province,
Technology Co., Limited China
Shenzhen Haiqin Engineering Haiqin Company Guangdong Province,
Management Co., Ltd. China
Sensitive sites, as defined by the TNFD, are areas of significant importance to biodiversity
(including species); areas with high ecosystem integrity; areas where ecosystem integrity is
rapidly declining; areas facing high physical water risks; and areas critical to the provision
of ecosystem services, which include benefits to local residents, local communities and
stakeholders.
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
Shenzhen China Merchants
Qianhaiwan Property Guangdong Province,
China
Limited
Hong Kong Special
China Merchants Container
Services Limited
Region, China
Colombo International Container
Terminals Limited
Hambantota International Port
Company (Private) Limited
(1) Distribution of Key Species
Self-Operational areas (within a 2 km radius): With the exception of Zhangzhou
Port, no species classified as Critically Endangered, Endangered or Vulnerable
under the International Union for Conservation of Nature Red List (IUCN) or the
Chinese Red List of Biodiversity (RCB) within a 2 km radius of the 11 subsidiaries
in China. 1 species classified as Vulnerable by the IUCN—Covus Torquatus —
inhabits the 2 km radius of Zhangzhou Port. Within a 2 km radius of the 12
subsidiaries in China, there are a total of6 39 species of Class II protected
animals and 249 species of "three benefit" animals7 as defined by the Wildlife
Protection Law of the People's Republic of China.
Self-operational and surrounding areas (within a 5 km radius): Our 12
subsidiaries in China are home to a total of 12 endangered species and 13
vulnerable species as defined by the IUCN within a 5 km radius, 9 species
classified as Endangered and 12 species classified as Vulnerable under the RCB,
as well as 12 Class I animals, 148 Class II animals and 1,005 "three benefit"
animals as defined by the Wildlife Protection Law of the People's Republic of
China.
Self-operational and adjacent areas (within a 10 km radius): The 12 subsidiaries
in Mainland China have, within a 10-kilometer radius, a cumulative total of 1
Critically Endangered species, 31 Endangered species, and 53 Vulnerable species
as defined by the IUCN, 24 Endangered species and 69 Vulnerable species as defined
This section presents aggregated data on the distribution of species within the designated areas
of each subsidiary.
“Three benefit” animals refer to terrestrial wildlife specified in the Wildlife Protection
Law of the People’s Republic of China as possessing significant ecological, scientific and social
value.
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
by the RCB, as well as 51 Class I protected animals, 294 Class II protected
animals, and 2,028 species of "three benefit" animals as defined by the Wildlife
Protection Law of the People's Republic of China. Among them, CMITQ has the
Critically Endangered species Emberiza Aureola, as defined by the IUCN, within
a 10-kilometer radius.
Overseas potential impact areas (within a 50 km radius): Within a 50 km radius
of the 5 overseas subsidiaries, there is a cumulative total of 147 critically
endangered species, 700 endangered species and 544 vulnerable species as defined
by the IUCN.
Table 4 Distribution Data of Key Species at CMPort's Subsidiaries
Species protected under
IUCN Endangered the Wildlife Protection
RCB Endangered Category
Category Law of the People's
Operationa
Republic of China
l Site Radius
Category Critic
Critical
Endange Endan Three
ally Vulne Vulne Class Class
ly Benefi
red rable gered rable I Ⅱ
Endang Endanger t
ered ed
Subsidiari
es Within 5km 0 12 13 0 9 12 12 148 1,005
China
Overseas
subsidiari 50km 147 700 544 — — — — — —
es
(2) Distribution of ecologically sensitive areas
There are no national parks or World Database on Protected Areas (WDPA) sites
within a 2 km, 5 km or 10 km radius of our 12 subsidiaries in China. Within a
The data on the distribution of endangered species and ecological conservation areas for CMPort’
s subsidiaries are aggregated totals of the figures for each subsidiary, to better reflect the
scale of species and ecological conservation areas that the Company should focus on and protect.
Data for subsidiaries within China are sourced from the Biodiversity Impact Assessment (BIA) tool,
whilst data for overseas subsidiaries are sourced from the Integrated Biodiversity Assessment
Tool (IBAT). As the geographical scope of data assessment for overseas subsidiaries this year
is limited to a 50 km radius, there is a significant difference in the scale of species distribution
compared to subsidiaries within China. Data on ecologically sensitive areas for overseas
subsidiaries covers only Key Biodiversity Areas (KBAs) and World Database on Protected Areas
(WDPA).
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
Nature Park in Zhangzhou, Fujian—and 1 Key Biodiversity Area (KBA)—the Qingdao
–Rizhao Coastal Wetlands and Islands—with a total of 1 nature reserve within
a 5 km radius—the Xiamen National Nature Reserve for Rare Marine Species in
Fujian—along with 7 nature parks and 3 KBAs; within a 10 km radius, there are
a total of 9 nature reserves, 14 nature parks, 3 Wetlands of International
Importance and 9 KBAs. Within a 50 km radius of the five overseas subsidiaries,
there are a total of 25 KBAs and 130 WDPAs.
Table 5 Distribution of Ecologically Sensitive Areas of CMPort
Operat World
Wetlands of Key
ional Nation World Network of
Nature Nature Internation Biodiversit
Site Radius al Natural Protected
Reserves Parks al y Areas
Catego Parks Heritage Areas
Importance (KBA)
ry (WDPA)
Subsid 2km 0 0 1 0 0 1 0
iaries
in
China 10km 0 9 14 0 3 9 0
World Database on Protected Areas (WDPA)
Non-
Man
World ASE legal
Operat EU and
Key Natio EU AN Measu
ional Natura Marine World Ramsa the
Biodiv nal Emer Her res
Site Radius 2000 Conserv Herit r Bios
ersity Prote ald ita For
Catego Ecologi ation age Wetla pher
Areas cted Netw ge Conse
ry cal Area Site nds e
(KBA) Areas ork Par rvati
Network Rese
k on
rves
Areas
Overse
as
Subsid 50 km 25 121 0 0 0 5 4 0 0 0
iaries
(2) Assessment of Nature-related Dependencies and
Impacts
Based on the identification and analysis of the Company's value chain business
footprint, we have selected 8 relevant sectors within the value chain and
utilized the WWF BRF to assess nature-related dependencies and impacts.
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
Table 6 Assessment of Nature-Related Dependencies and Impacts Across Industries
in the Value Chain of CMPort
Upstream Midstream Downstream
Autom Tran Trans
Tra
otive Lan spor port
nsp
, d t servi
Electr Oil, ort
Elect Dev serv ces
Electri icity natura ser
rical elo ices –
Impact/ city genera l vic
WWF BRF Indicators Equip pme – logis
Dependency generat tion gas es
ment nt mari tics
ion – – and –
and and time and
hydroel solar consum Por
Machi Con tran suppl
ectric and able top
nery str spor y
wind fuels era
Manuf uct t chain
tio
actur ion serv servi
ns
ing ices ces
Physical risks
Water
Dependency
availability
Forest
productivity Dependency
and distance
from markets
Availability
of limited Dependency
wildlife
resources
Availability
of limited Dependency
marine fish
resources
Soil
conditions
Water
resources
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
conditions
Wildfire
disasters
Plant/Forest
/Aquatic
pests and
diseases
Herbicide
resistance
Tropical
cyclones
Natural and
resources
Changes in
land,
Impact
and marine
use
Loss of
canopy
Invasive
species
Reputational risk
Protected
vation areas
Key
areas
Other
important
designated
areas
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
Ecosystem
status
Rarity
range
Local
residents;
local
communities
Land and
territory
Resource
scarcity:
food –
water
resources –
air
Labor/Human
rights
Financial
inequality
Media
censorship
Political
situation
Internationa
lly
significant
sites
Risk
provision
Very High
High
Medium
Low
Very low
Almost none
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
The various energy production activities covered within the upstream segment
of the Company's value chain rely on ecosystem provisioning, regulating and
maintenance services. At the same time, such activities have a significant impact
on nature and may entail substantial reputational risks.
Hydropower generation relies heavily on the water supply provided by ecosystems
to ensure sufficient water volume to drive power generation facilities.
Hydropower generation results in a significant increase in the area of open
freshwater bodies upstream within a river basin, while reducing the extent of
freshwater habitats downstream. The construction of hydropower stations alters
water flow and landforms. Reduced sediment supply to downstream river channels
may increase the likelihood of soil erosion. As the construction of hydropower
facilities involves large-scale alterations to landforms and hydrological
conditions, it may have a significant impact on ecologically sensitive areas
near the site and on the livelihoods and daily lives of local communities, thereby
leading to a high reputational risk.
Solar and wind energy rely moderately on ecosystem provisioning, regulating and
supporting services, and may have certain impact on ecosystems. The construction
of solar and wind power facilities generates substantial quantities of solid
waste, some of which (such as silicon trichloride and silicon tetrachloride
discarded during polysilicon production) are classified as hazardous waste. The
improper disposal of such waste causes severe environmental pollution. The
construction of wind power facilities may result in the destruction of natural
habitats.
The use of fossil fuels such as oil heavily depends on natural resource supply
and regulation services, and has a significant impact on the ecological
environment. Fossil fuel production relies on the water supply services provided
by ecosystems to ensure sufficient water for cooling systems, industrial
cleaning, daily operations and fire control. Fossil fuel production requires
large extensive land for infrastructure development (such as oil wells, canals
and roads, and waste storage and disposal facilities), which may lead to habitat
loss, decreased vegetation and land degradation. The production and use of fossil
fuels emits greenhouse gases (such as carbon dioxide) and non-greenhouse gases
(such as volatile organic compounds, nitrogen oxides, sulfur oxides, particulate
matter and toluene) into the environment, contributing to global climate change
and polluting local ecosystems. The production and use of fossil fuels are prone
to causing habitat destruction. Combined with the health and safety risks arising
from improper operations, this may trigger significant public and media concern
regarding adverse environmental impacts and occupational health and safety.
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
Beyond energy utilization activities, a key component of the upstream value chain
in which the Company operates is mechanical manufacturing. The installation of
industrial machinery and equipment relies on water supply services provided by
ecosystems to ensure adequate water quantity and quality for cleaning the
installation sites. Mobile transport equipment (such as trailers) relies on
natural rubber for tires, creating a dependency on limited plant resources. The
production of industrial machinery and equipment generates significant solid
waste, while the operation of such equipment releases air pollutants (such as
particulate matter and volatile organic compounds); if not managed properly,
this may result in environmental pollution and damage.
The Company's principal business consists of port operations, which are situated
in the midstream of the value chain. Port operations rely on the regulatory
services of ecosystems to maintain normal operations, mitigating damage to
infrastructure caused by natural disasters (such as typhoons, floods, wildfires
and strong winds) through the regulation of climate, rainfall, water flow and
storms.
Port operations may have a significant impact on the surrounding environment.
The construction of ports requires the use of large tracts of land, altering
the existing land conditions, which may destroy habitats and reduce vegetation
cover, thereby significantly impacting the local environment. Heavy machinery
used in port operations may release toxic air pollutants, causing air pollution,
while the transport and handling processes generate large quantities of solid
waste, which may also significantly impact on the environment. Port site
selection, construction and dredging activities may lead to coastal erosion,
seabed alterations and habitat destruction, while the continuous low-frequency
noise and light pollution generated by port operations may affect the quality
of life of local residents. The aforementioned activities may impact wildlife
habitats or local residential areas, thereby giving rise to certain reputational
risks. The Company's business activities also involve land development and
construction projects in the vicinity of port areas. Construction projects in
the vicinity of port areas rely on the ecosystem's timber supply services, whilst
also requiring the ecosystem to provide regulating and supporting services to
reduce the likelihood of extreme heat events and mitigate the impact of dust
and noise generated by construction works. Construction activities result in
land surface alterations and vegetation loss, placing significant pressure on
ecosystems within construction zones and potentially impacting the normal
business operations of local communities.
The downstream industry activities within the Company's value chain primarily
consist of maritime transport services and logistics and supply chain services.
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
Maritime transport activities depend on ecosystem water supply services to
ensure the water required for maritime transport operations, as well as for the
cleaning and maintenance of vessels and related infrastructure. Maritime
transport activities also depend on ecosystem regulating services that regulate
the global and local climate, thereby reducing the frequency and severity of
major extreme weather events that could damage vessels and disrupt shipping
operations. In respect of logistics and supply chain services, warehousing and
land transport activities rely on the ecosystem's soil and water conservation
functions to provide stable foundations, control soil erosion, and ensure the
structural integrity of warehouse buildings and transport infrastructure. Land
transport activities rely on the ecosystem's regulation of global climate and
rainfall patterns to prevent transport disruptions caused by extreme weather
and to safeguard transport continuity.
Maritime transport activities may place significant pressure on ecosystems. They
can alter hydrodynamic characteristics through ship wakes, thereby affecting
the movement patterns of marine life and habitats in the affected waters. Given
the current energy sources used by most vessels, maritime transport releases
substantial quantities of greenhouse gases and non-greenhouse gases (such as
carbon monoxide, sulphur dioxide, particulate matter and other air pollutants),
and the continued use of fossil fuels when docking exacerbates these emissions.
Maritime transport activities may generate toxic pollutants through the use of
chemicals for ship cleaning, as well as fuel or oil spills from engines and cargo,
and leaching from anti-fouling paint. Ballast water from ships may serve as a
conduit for the unintentional introduction of species into estuaries or
nearshore marine systems, potentially leading to the invasion of non-native
species.
In respect of logistics and supply chain services, both warehousing and road
transport activities generate greenhouse gas emissions, as well as noise and
dust pollution. Road transport, in particular, contributes to air pollution due
to fuel combustion and the use of chemicals, emitting gaseous pollutants such
as carbon monoxide, hydrocarbons, nitrogen oxides, sulphur dioxide, particulate
matter and volatile organic compounds. Furthermore, asphalt road surfaces may
emit volatile organic compounds when exposed to intense sunlight and high
temperatures. The infrastructure required to support warehousing and road
transport activities may alter natural habitats, creating barriers to animal
movement and migration or causing wildlife collisions, thereby impacting local
biodiversity.
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
(3) Management of Nature-Related Risks and
Opportunities
To further quantify the nature-related risks associated with our operations,
we conducted a nature-related dependency and impact analysis on 17 subsidiaries
using the WWF BRF, and then established a corresponding risk indicator hierarchy
based on the WWF BRF to derive the quantified assessment results of
nature-related risks for each subsidiary.
Overall, more than half of CMPort's subsidiaries are classified as high-risk
with respect to physical risks. Collectively, the subsidiaries exhibit
relatively low dependence on ecosystem provisioning, regulating and supporting
services (enabling services) and cultural services, while showing higher
dependence on ecosystem regulating services (mitigation services), reflecting
that the Company's overall operations are significantly affected by climate
change. The subsidiaries generally exhibit a high-risk level of impact on
ecosystems, indicating that the Company's operations require particular
attention to avoid and mitigate disturbances and impacts on the ecological
environment in terms of changes in land, freshwater and marine use, forest and
vegetation cover, and pollution.
Among the subsidiaries, CICT and NPH are classified as low-risk, while other
subsidiaries are at a medium-to-high risk level. Specifically, China Merchants
Port (South China) Management Center, China Merchants Port (South China) Bulk
Cargo Management Center, Zhangzhou Port, Xia Men Bay Terminals, CMBL and CMCS
all have the same physical risk score. These 6 subsidiaries have a high degree
of reliance on ecosystem regulation services (particularly regarding the
moderating effects of tropical cyclones) and exert significant pressure on
The biodiversity-related risks defined by WWF consist of two components: a company’s impacts
on and dependence on biodiversity, and the integrity of biodiversity in the region where it
operates. The WWF BRF risk hierarchy comprises four levels: Risk Type, Risk Category, Indicator
and Metric. The Risk Type aligns with the TNFD risk classification; the Risk Category is determined
by ecosystem service categories, ecosystem pressure factors, and socio-economic impact and
dependency factors; the Indicator encompasses the significance of biodiversity and regional
integrity information, which is converted into a risk score ranging from 1 to 5 following spatial
aggregation; the Metric consists of global raw datasets compiled by WWF, used to measure the
performance of biodiversity and ecosystems across different dimensions in specific regions and
to output measurement results. The WWF BRF assessment tool incorporates a standardized process
that converts raw data from different dimensions of metric into five risk levels (i.e. scores
from 1 to 5), enabling cross-comparison between indicators whilst facilitating integrated
analysis of different indicators. The WWF BRF assessment currently covers only physical risks
and transition risks. Among the transition risk assessment tools, the reputation risk assessment
is available, whilst the remaining transition risk sub-categories are still under development.
As such, this section on transition risks provides only the qualitative assessment conclusions
and quantitative assessment results for reputation risk.
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
ecosystems (particularly through their impact on forest vegetation), all of
which indicate that their physical risk is at a high level.
Overall, more than half of CMPort's subsidiaries are classified as high-risk
in terms of reputational risk. Collectively, the subsidiaries face high
reputational risk levels arising from both environmental and socio-economic
factors, with risk drivers centering on potential reputational risks arising
from development and construction in ecologically sensitive areas, relations
with local residents, and labor/human rights issues. This indicates that the
Company should proactively strengthen ecosystem compensation and restoration
within port areas, maintain close ties with local communities, actively address
community concerns, and ensure effective labor compliance management to avoid
negative public sentiment.
Table 7 Risk Assessment of CMPort's Subsidiaries
China China
Mercha Merchant
nts s Port Xia Men
Zhangz
Name of Port (South Zhanjiang Shantou Bay
hou CMBL CMITQ
Subsidiary (South China) Port Port Terminal
Port
China) Bulk s
Manage Cargo
ment Manageme
Center nt Center
Physical
risks
Provisioni
ng
services
Water
availabili
ty
Forest
productivi
ty and
distance
to market
Regulatory
and
support
services
–
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enabling
Soil
condition
Water
condition
Air
condition
Regulatory
services
–
mitigation
Landslides
Wildfire
hazard
Extreme
heat
Tropical
cyclones
Cultural
services
Natural
and
cultural
resources
Pressures
on
biodiversi
ty
Land,
fresh
water and
sea use
change
Forest
canopy
loss
Invasives
Pollution
Reputation
al risk
Environmen
tal
factors
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Protected
areas/Cons
ervation
areas
Key
biodiversi
ty areas
Other
important
designated
areas
Ecosystem
condition
Range
Rarity
Socio-econ
omic
factors
Indigenous
peoples
(IPs);
local
communitie
s(LCs)land
s and
territorie
s
Resource
scarcity:
Food –
Water –
Air
Labor/Huma
n rights
Financial
inequality
Additional
reputation
al factors
Media
scrutiny
Political
situation
Internatio
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nal focus
Risk
provisions
Table 7 Risk Assessment of CMPort's Subsidiaries (Continued)
Name of Qianhai
Haiqin
Subsidia Bay
CMIT Company CMCS CICT HIPG TCP LCT NPH
ry Properti
es
Physical
risks
Provisio
ning
services
Water
availabi
lity
Forest
producti
vity and
distance
to market
Regulato
ry and
support
services
–
enabling
Soil
conditio
n
Water
conditio
n
Air
conditio
n
Regulato
ry
services
–
mitigati
on
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
Landslid
es
Wildfire
hazard
Extreme
heat
Tropical
cyclones
Cultural
services
Natural
and
cultural
resource
s
Pressure
s on
biodiver
sity
Land,
fresh
water and
sea use
change
Forest
Canopy
Loss
Invasive
s
Pollutio
n
Reputati
onal risk
Environm
ental
factors
Protecte
d
areas/Co
nservati
on areas
Key
biodiver
sity
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
areas
Other
importan
t
designat
ed areas
Ecosyste
m
conditio
n
Range
Rarity
Socio-ec
onomic
factors
Indigeno
us
peoples
(IPs);
local
communit
ies (Lcs)
lands and
territor
ies
Resource
scarcity
:
Food –
Water –
Air
Labor/Hu
man
rights
Financia
l
inequali
ty
Addition
al
reputati
onal
factors
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
Media
scrutiny
Politica
l
situatio
n
Internat
ional
focus
Risk
provisio
ns
Non-dependence
and impact
Very low risk
Low risk
Medium risk
High risk
Very high risk
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
To effectively manage nature-related risks and opportunities, CMPort has
combined the assessment results of the WWF BRF to identify potential
nature-related dependencies and impacts, evaluate their effects on the Company's
business operations and financial position, and formulate and implement
proactive response measures.
Table 8 Identification and Response to Nature-related Risks
Risk Financi
Risk Timefr Business Mitigation
Risk Categoriza al
Description ame Impact Measures
tion Impact
Significant Develop typhoon and
damage to flood response
port plans and other
facilities, emergency
resulting contingency plans,
in and conduct regular
asset emergency drills.
losses or Enhance the
increased resilience of
repair large-scale
Weaken costs. Increas equipment against
ecosystem Ports are ed extreme weather,
regulatory unable to operati including
functions, carry out ng installing
Short-
and frequent normal costs, wind-proof devices
,
occurrence loading and reduced and wind-warning
Physical medium
of extreme unloading operati systems for
Risk Acute risk -, and
weather operations, ng shore-side
long-t
events (such leading to income, containers,
erm
as extreme business and conducting regular
heat and disruption. asset inspections and
tropical Temporary impairm maintenance of
cyclones) cancellatio ent braking equipment,
ns of vessel and intensifying
calls will equipment
result in a inspections to
reduction ensure the proper
in business functioning.
volume; Strengthen
delayed berthing and
vessel unberthing
calls will management during
cause berth extreme weather,
congestion including ensuring
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
and large terminal
operational equipment is
congestion berthed strictly in
for a period accordance with
following requirements,
The activating
typhoon, berthing indicator
affecting lights, and
loading, maintaining
unloading realtime
and communication
transport between
efficiency. supervisors and
Extreme pilots.
thunderstor
ms may cause
harm to
on-site
machinery,
equipment
and
personnel.
Increased
requirement
s
for
Replace pollutant
pollutant
Imbalance in treatment
treatment Increas
the facilities as
facilities ed
regulatory required and
and operati
functions of strengthen
management ng costs
the Medium cooperation with
capabilitie and
Chronic ecosystem, to long third parties for
s, making decreas
risk resulting in term waste recycling and
the ed
a reduced reuse. Undertake
constructio operati
capacity to appropriate
n, ng
degrade ecological
renovation income
pollutants restoration and
and
compensation
expansion
measures.
of
terminals
more
challenging
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
Tighter
carbon
emission
Increas
limits and
ed
enhanced
operati Timely identify
emission
ng relevant emissions
reduction
The costs, requirements,
requirement
government decreas formulate and
s in the
has ed refine internal
Medium global
strengthened operati pollution
Policy risk to long shipping
environmenta ng prevention and
term industry,
l revenue control systems,
coupled
requirements , and and strictly
with
and decreas implement central
stricter
oversight ed government
environment
operati requirements.
al policies
ng
from
profit
government
regulatory
Transforma
bodies.
tion
Risk
The Increas
Clients are Company's ed
increasingly business operati
Actively adapt to
focusing on model is ng
changing market
the shifting costs,
preferences and
Company's towards a decreas
respond to clients'
biodiversity nature-posi ed
nature-related
protection Short, tive operati
requirements,
issues and medium approach, ng
continuously
Market risk are making and improving income,
creating
demands long resource reduced
ecological value
regarding term utilization operati
through equipment
the and ng
upgrades,
eco-friendli avoiding profit;
management
ness of the disruption decline
innovation and
services to the in
external
provided by ecological financi
partnerships.
the Company. environment ng
. volume
Technical Alternative Medium Developing Increas Continued
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
risk port to long multimodal ed strengthening of
services term transport operati legal compliance
drive a and ng costs and government
reduction in shore-to-sh and support policies.
environmenta ip power decreas Identify key issues
l impact or supply to ed in ecological
dependence, promote operati protection and
creating a energy ng enhanced relevant
competitive conservatio profit facilities and
barrier. n and equipment.
emission
reduction
in the port
and
shipping
industries,
as well as
advancing
the
adoptionof
new and
clean
energy
sources
will
increase
R&D costs.
Reputational Increas Strictly comply
damage ed with laws and
arising from operati regulations;contin
the Clients ng uously monitor the
Company's reduce costs, environmental
failure to Short, order decreas management data and
adopt medium volumes; ed emissions of the
Reputation
proactive and investors operati Company's
al risk
ecological long decrease ng subsidiaries;
protection term investment income, actively respond to
measures or withdraw reduced government calls to
or from capital. operati participate in
breaches of ng public welfare
environmenta profit projects related to
l compliance and environmental
requirements decline protection and
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
. d community
financi development.
ng
amount
Regulatory
authorities Strictly comply
or local with laws and
non-profit The Increas regulations to
organization company's ed ensure compliance
s may impose reputation operati with local
Short,
administrati is damaged, ng costs environmental
medium
Liability ve penalties and it faces and policy and
and
risk or initiate penalties decreas regulatory
long
legal from ed in requirements;
term
proceedings regulatory operati actively engage
against the authorities ng with local
Company for . income stakeholders and
environmenta address to relevant
l concerns.
violations.
Table 9 Identification and Response to Nature-related Opportunities
Opportunity Financi
Opportunity Timefra Business
Opportunity Categorizat al Action Plan
Description me Impact
ion Impact
Adapt to
changes in
Promote the use
consumer
of shore power
demand for
Expansion of by ships in port
eco-friendl
product to reduce the
y services, Increas
market share fossil fuels
actively Medium e in
Business Products and and consumption,
develop to Long operati
Performance services enhancement thereby
services Term ng
of green assisting
that meet income
competitiven customers to
consumer
ess reduce their
expectation
carbon
s, enter the
emissions.
market early
and capture
market
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
share.
By
strengtheni
ng Reduce natural
operational resource
management, Reduced consumption and
we aim to Reduced operati improve
avoid or natural ng costs resource
Short,
reduce resource and utilization
Resource medium
dependencie consumption increas through
efficiency and long
s and and ed management
term
impacts on procurement operati innovation,
natural costs ng process
resources, income optimization
thereby and equipment
improving upgrades.
operational
efficiency.
Secure Establish
additional green/sustaina
financing Increased ble finance
opportuniti innovative frameworks,
es by financing focus on
Increas
mitigating Short, opportunitie innovative
Capital ed
nature-rela medium s, such as financing
flows and financi
ted impacts and long biodiversity methods such as
financing ng
and actively term finance, and biodiversity
volumes
pursuing reduced finance, and
projects financing pursue
that enhance costs sustainable
positive financing
environment opportunities.
al impacts.
Receive Proactively
Increase in
positive disclose
positive
feedback Increas information
public
from Medium ed regarding the
Reputational sentiment,
stakeholder to long operati Company's
capital driving
s by term ng sustainable
accelerated
effectively income development,
business
implementin address issues
growth
g ecological of concern to
conservatio stakeholders,
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
n and and implement
biodiversit relevant
y risk improvement
management. measures.
Improve service
Replace the delivery and
use of management
Reduced
non-renewab models to
operati
le natural enhance the
ng costs
Sustainable resources Short, utilization
Reduced and
use of with medium rate of
procurement increas
natural renewable and long renewable
costs ed
resources alternative term resources and
operati
s to improve the
ng
resource comprehensive
income
utilization utilization
efficiency. rate of solid
waste.
Sustainable
Maintain
Development
close ties
Performance Actively
with local
Opportuniti communicate and
Support communities,
es collaborate
activities actively
with
that participate
stakeholders
protect, in community
such as local
Ecosystem regenerate co-developme Increas
Short, communities and
protection, or restore nt, avoid ed
medium non-profit
restoration habitats and conflicts operati
and long organizations
and ecosystems, with local ng
term to strengthen
regeneration and improve communities income
ecological
sustainable and
conservation in
development residents,
the areas
performance and promote
surrounding the
. the
Company's
development
operations.
of local
business
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
(4) Ecosystem and Biodiversity Conservation Strategy
In alignment with the United Nations Convention on Biological Diversity, the
Kunming Declaration from the high-level meetings of the Convention on Biological
Diversity (COP15), the Glasgow Leaders' Declaration on Forests and Land Use from
the UN Climate Change Conference (COP26), and the Opinions on Further
Strengthening Biodiversity Conservation jointly issued by the General Office
of the CPC Central Committee and the General Office of the State Council, CMPort
is committed to building green ports and eco-friendly ports, engaging in
responsible business practices and ecological protection activities, and
striving to become a benchmark for ecosystem and biodiversity protection in the
port industry.
The Company revised its Biodiversity and Zero Deforestation Statement in 2025
and made the following commitments:
zero deforestation in the countries and regions where it operates, ensuring
lawful and compliant operations;
ecologically sensitive areas, such as nature reserves, key marine ecological
functional zones, and ecological protection red lines, as designated by
international organizations or the countries and regions in which it operates;
environment or have a negative impact on local biodiversity;
activities, and takes all necessary measures to minimize the negative impact
of port and logistics park operations on the ecological environment;
illegal development within designated forest conservation areas in the countries
and regions where we operate, and we actively participate in tree-planting and
afforestation initiatives and support forest restoration activities.
To fulfil the above commitments, the Company has formulated ecosystem and
biodiversity conservation strategies tailored to its actual operations and is
actively promoting their implementation. The main strategies and measures are
as follows:
conservation to protect rare wild flora and fauna and their natural habitats.
Specifically, this includes:
(1) Conducting comprehensive assessments of potential impacts on the ecosystem
and local communities during the site selection and planning stages of new,
refurbishment and expansion projects; prioritizing design and construction
solutions that minimize local environmental disturbance, particularly avoiding
adverse impacts on key biodiversity conservation areas;
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(2) Conducting biodiversity baseline surveys and assessments prior to the
implementation of new, refurbishment, expansion and acquisition projects;
stipulating reasonable working hours; ensuring the proper management of waste
generated from terminal operations, maintenance, development and construction;
and establishing and implementing strict waste disposal procedures and systems
at all operational sites to monitor the surrounding
environment, ensuring that construction and operational processes meet
ecological conservation requirements;
(3) Scientifically implement ecological compensation measures, such as habitat
restoration and restocking, in operational areas affected by disturbance to
restore ecosystem functions; continuously survey, monitor and assess the
ecological status of areas surrounding operational zones; and formulate targeted
management plans based on the findings.
(4) Support local public welfare activities for ecological and environmental
protection; collaborate with environmental organizations and communities to
resolve local environmental conflicts; enhance ecosystem service levels; and
focus on the survival of local endangered species and the protection of forest
vegetation.
supporting ecological restoration, addressing climate change risks, and
achieving triple benefits for the economy, environment and society.
When carrying out biodiversity work, the Company comprehensively considers,
through systematic solutions, the positive benefits of projects for climate
change adaptation and mitigation, as well as for the development of local
communities.
The Company promotes multi-dimensional spatial utilization, increases green
space at operational sites, minimizes the impact on natural land as far as
possible, and carries out land restoration work in accordance with local
conditions to create the basic conditions for local biodiversity conservation.
clearly defined by national laws and regulations unless the necessary filing
and approval procedures have been completed in accordance with these laws and
regulations.
Port development and construction must complete the relevant filing and approval
procedures in accordance with the law. Where port development and construction
involve the occupation of natural shorelines, corresponding ecological
Nature-based solutions (NbS) refer to the restoration and enhancement of ecosystem structure,
function, processes, health and services, thereby directly or indirectly maintaining biodiversity.
This can be achieved by improving the health and integrity of species and their habitats through
conservation, maintenance, management and restoration actions, thereby directly maintaining
biodiversity; or by adapting to and mitigating the impacts of climate change on species and the
ecological environment, thereby indirectly maintaining biodiversity and enhancing ecosystem
quality and stability.
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restoration and compensation measures must be implemented in accordance with
the law.
deforestation, and organize training activities on ecosystem and biodiversity
conservation for both internal and external stakeholders.
The Company is committed to enhancing the awareness and professional
understanding of biodiversity conservation among all staff, and encourages labor
subcontractors, suppliers and other relevant parties to assess and manage the
biodiversity risks associated with their business activities and to implement
mitigation measures.
conservation.
The Company will strengthen cooperation with environmental regulatory
authorities, international organizations, non-profit organizations and
third-party professional research institutions in the regions where it operates,
to jointly carry out ecological conservation work.
Case: Zhanjiang Port Carries out 6 Rounds of Proliferation and Release Activity
To further strengthen the conservation of aquatic biological resources and
restore the marine ecological environment, in accordance with the requirements
of Notice of the General Office of the Ministry of Agriculture and Rural Affairs
on Further Clarifying Matters Related to the Protection and Compensation of
Aquatic Biological Resources for Fishery-Related Construction Projects (N.B.Y.
[2018] No. 50) and Reply Letter Providing Opinions of the Guangdong Provincial
Department of Agriculture and Rural Affairs on the Implementation Plan for Stock
Enhancement and Release for Phase I Expansion Project of the Container Terminal
at Baoman Port Area, Zhanjiang Port, the Phase I expansion project of the
Container Terminal at Baoman Port Area, Zhanjiang Port carried out 6 batches
of proliferation and release activity in the sea area near Zhanjiang Port. Under
the guidance of the Zhanjiang Ocean and Fishery Bureau, Zhanjiang Port
implemented proliferation and release activities in the sea area of Zhanjiang
Port on 6 occasions on 23 May, 30 May, 18 June, 30 June, 11 July and 18 July
of 2025, for the Phase I expansion project of the Container Terminal at Baoman
Port Area, Zhanjiang Port. A total of 33.40 million black seabream, 84.67 million
kuruma prawns, 49.11 million blood cockles, 80.96 million Paphia undulata, and
marine ecological environment of Zhanjiang Port and protecting aquatic
biodiversity.
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
Case: New Construction Project of Shantou Port Plans Ecological Restoration
Compensation Scheme in Advance
Prior to the implementation of the Phase III project in the Guang'ao Port Area
of Shantou Port, a survey of the current status of the marine ecosystem and
ecological monitoring were conducted. A comprehensive assessment was conducted
to evaluate the nature-related impacts of the project on the marine ecosystem
during both the construction and operational phases. Based on the assessment
results, the "Implementation Plan for Marine Ecological Protection and
Restoration for the Phase III Project in the Guang'ao Port Area of Shantou Port"
was formulated, with plans to invest over RMB 20 million to support ecological
restoration and compensation measures in 3 areas, namely shoreline restoration,
stock enhancement and release, and the deployment of artificial reefs.
HIPG Ecological Management Facilitates the Formation of Microecosystems in
Artificial Reefs
On 29 August 2025, Hambantota International Port released the findings of a
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
baseline study conducted in collaboration with the University of Maritime
Sciences and Technology, Sri Lanka. The study found that the artificial reefs
formed beneath the port's breakwaters have now become one of the most biodiverse
coral reefs in southern Sri Lanka, with a live coral coverage of 35%, far
exceeding the local average of less than 20% and are home to more than eight
species of fish endemic to the region. The study indicates that, compared to
nearby natural reef areas, this site exhibits a higher diversity of reef-dwelling
fish, and demonstrates that appropriate ecological management during port
construction can foster the thriving development of "artificial habitats". These
findings not only enhance public awareness of the port's underwater ecology but
also provide a scientific basis for developing future biodiversity conservation
and ecotourism plans for the port.
Case: TCP Organizes "Environmental Kayaking" Event
In May 2025, TCP organized the Remada Ambiental "Environmental Kayaking" event.
The event took place on the Itiberê River, with 73 volunteers (including staff
and local residents) using kayaks, canoes and boats to clean up litter along
the river, ultimately collecting 988 kg of waste, of which 188 kg of recyclables
were sorted and handed over to a local recycling cooperative for processing.
The event also featured specially designed environmental education activities
for parents and children, including waste sorting games, storytelling and face
painting, aimed at fostering early awareness of environmental protection among
children. This initiative is part of TCP's "Internal Environment Week" (SIMA),
which aims to raise awareness among staff and the community regarding the
ecological value of rivers. Through regular river clean-ups and the promotion
of environmental education, the project contributes to the protection of the
aquatic ecosystems of the Itiberê River and its downstream area, Paranaguá Bay.
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
Case: CICT Announces Marine Environmental Protection Initiative
On World Maritime Day 2025 (observed on the last Thursday of September), CICT
issued an official statement emphasizing that "the ocean is not merely a trade
route, but a lifeline for humanity, the economy and the planet", and called on
employees and partners to protect the marine environment through responsible
port operations, emissions reduction, equipment electrification and innovative
measures. This public announcement reaffirms the company's commitment to
aligning with the United Nations Sustainable Development Goals (particularly
SDG 14: Life Below Water), encouraging all sectors of society to prioritize the
blue economy, clean oceans and ESG management.
Case: LCT Carries out a Mangrove Double-compensation Planting and Sea Turtle
Protection Program
To minimise the nature-related impact of the dock construction project, LCT
committed to a double-compensation planting plan for mangrove areas removed
during the project, meaning "remove one, replant two." For this purpose, LCT
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
partnered with local environmental organizations to jointly cultivate mangrove
seedlings and continue planting in suitable areas along multiple lakeshores.
In actively fulfilling ecological environmental responsibilities, LCT, starting
from October 2012, has partnered with professional partners, annual funding
special funds for sea turtle protection and rescue efforts along the Togo
coastline. The project includes nurturing and releasing juvenile turtles,
regularly monitoring changes in the state of nature in sea turtle habitats, and
conducting rescue operations for adult sea turtles.
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
III. Risk and Impact Management
(1) Management of nature-related dependencies,
impacts, risks and opportunities
As an active participant in the development of the marine economy, CMPort adopts
the LEAP approach to manage nature-related dependencies, impacts, risks and
opportunities in accordance with the four stages of Locate, Evaluate, Assess
and Prepare.
Regarding direct operational activities, the Company clearly defines its
industry sector, core business and geographical scope of operations. It utilizes
domestic and international biodiversity and nature reserve databases to identify
key species and ecologically sensitive areas in the vicinity of the Company's
headquarters and subsidiaries. It employs tools developed by international
organizations to assess the Company's nature-related dependencies and impacts,
and identifies nature-related risks and opportunities based on the Company's
actual operational circumstances, and actively implements responsive measures.
Regarding upstream and downstream value chain activities, the Company has mapped
the industries and activity types within its core value chains. Based on the
characteristics of these, we analyze their nature-related dependencies and
impacts. By considering the Company's cooperation with key participants in the
upstream and downstream value chains, the Company identifies nature-related
risks and opportunities within value chain activities and actively implements
collaborative response measures.
(2) Integration of nature-related risks into corporate
risk management
CMPort regularly conducts risk assessment activities, with the scope covering
departments at the Company's headquarters and its subsidiaries. Based on the
actual circumstances of the annual operational context and adhering to the
fundamental principles of truthfulness and objectivity, the Company focuses on
assessing risk factors that affect annual operational objectives. We identify
major risks faced by the Company, including strategic, market, financial, legal
and compliance, operational, and ESG risks, thereby informing decision-making
references for the Company's risk management decision-making. CMPort has
incorporated nature-related risks into the Company's annual top ten risk
assessment process and established a routine risk monitoring mechanism.
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
Table 10 CMPort's Nature-related Risk Management Process
Management Specific Process
Stage
Risk The Company identifies risks based on the progress of the
Identification current year's operations and the key priorities for the
following year, compiling an annual list of core risks to
provide a source of risk items for the risk assessment process.
Among these, natural-related risks are included in this risk
identification list.
Risk Screening In accordance with the risk classification management strategy,
a weighted scoring method is employed to determine the risk
prioritization. 20 higher-risk items are screened from the core
risk list to serve as the key risk areas for risk assessment,
and a risk assessment questionnaire for significant risks is
prepared. Notably, if nature-related risks are selected as
significant risk items in the current year, they will be
included in the risk assessment questionnaire.
Risk Using the twenty key risks identified in the risk assessment
Assessment questionnaire as the subject, a comprehensive score is
calculated based on the two dimensions of "impact" and
"probability". The Company assigns weights to the scores
provided by management at different levels, aggregates the
scores according to the results, and ultimately selects the top
ten risks. Where nature-related risks are selected as key risk
items for the year, they are subject to a comprehensive
assessment based on "impact" and "probability".
Risk The Company continuously monitors and tracks the management of
Monitoring the top ten risks and implements specific indicator monitoring.
Where nature-related risks are included in the annual top ten
risks, the Company implement specific indicator-based
monitoring for that year.
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
IV. Metrics and Targets
Based on the aforementioned analysis of dependencies and impacts, the Company
faces significant nature-related risks associated with climate change,
environmental pollution, and the use of land, freshwater and marine resources.
Consequently, the Company has established sustainability-related indicators and
targets for areas with concentrated risks, with a view to strengthening risk
management, adopting environmentally friendly business practices, and
diligently fulfilling its corporate social responsibilities.
Table 11 Nature-related Indicators and Targets
Progress
towards
Base Target targets
Topics Commitment Indicators Metrics
Year type during the
reporting
period
Peak greenhouse
Achieve gas emission
carbon primarily carbon
Total GHG
emission dioxide, by 2028,
Emissions
peaking by and achieve Long-term Routine work
(Scope 1 + 2022
Scope 2)
carbon greenhouse gas
neutrality emission,
by 2060. primarily carbon
dioxide, by 2060.
Actively By 2025, reduce
Climate optimize the Scope 1 intensity
Change industrial to 6.439 tons of
Respons structure CO2 equivalent per
e and energy RMB 1 million
Short-term 100% achieved
mix, 2024 revenue; reduce
vigorously Scope 2 intensity
develop GHG to 23.49 tons of
clean Intensity CO2 equivalent per
energy, RMB 1 million
improve revenue.
energy By 2027, reduce
efficiency, Scope 1 intensity
Medium-ter Continuous
and reduce to 5.710 tons of
carbon CO2 equivalent per
emissions RMB 1 million
intensity revenue; reduce
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
per unit of Scope 2 intensity
output. to 22.91 tons of
CO2 equivalent per
RMB 1 million
revenue.
Strict
compliance Number of
Environ with General Short-term
No general Level 3
mental environmenta Level 3 Ongoin Medium-ter
environmental 100% achieved
Managem l laws and Environment g m
incidents.
ent regulations, al Long-term
with no major Emergencies
incidents
reported
Strengthen By 2025, reduce
Short-term 100% achieved
the 2024 exhaust emissions
management intensity by 1%.
of the entire
exhaust gas
emissions
control
process,
Exhaust
optimize Emissions
Emissio
production intensity By 2027, reduce
ns Medium-ter Continuous
processes, exhaust emissions
improve intensity by
energy 2.97%.
utilization
efficiency,
and reduce
waste
emissions at
the source.
Through By 2025, reduce the
comprehensiv density of non Short-term 100% achieved
e management hazardous waste
Non-haz
of the entire Emission discharged by 2%.
ardous
process, density of
Waste
from source non-hazardo
Emissio By 2027, reduce the
control to us waste Continuous
ns density of non Mid-term
end of-pipe 2024 follow-up
hazardous waste by
treatment
management,
we are
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
committed to
minimize
waste
generation.
By
establishing
a strict
hazardous
waste
management
system and
adapting
advanced
Hazardo treatment
Hazardous
us technologies Short-term
waste Hazardous waste
Waste and Medium-ter 100% achieved
disposal 2024 disposal rate
Dischar equipment, m
rate maintains at 100%.
ge we ensure
that all
hazardous
waste is
treated in a
compliant
and
effective
manner
manner.
By By 2025, achieve a
implementing comprehensive
effective utilization rate Short-term 100% achieved
waste of 42.01% for
sorting and Comprehensi general solid
enhancing ve waste.
Waste
comprehensiv utilization
Recycli
e rate of
ng By 2027, achieve a
utilization general
comprehensive
rate of solid waste Medium-ter Continuous
utilization rate
general 2024 m follow-up
of 44.63% for
solid waste,
general solid
we will
waste.
improve this
rate
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
further, and
achieve full
utilization
of resources
Strengthen By 2025, reduce
Short-term 100% achieved
end-to-end 2024 water intensity by
management 1%.
of water
usage
Water
processes,
Resourc
continuously Water
es
optimize intensity
Utiliza By 2027, reduce Medium-ter Continuous
water use
tion 2024 water intensity by m follow-up
structure,
and reduce
water
consumption
per unit of
output.
Ensure that no
major
environmental
violations or
non-compliance
incidents occur by
The Company
implementing the
will avoid
following
business
measures: During
activities Number of
Land, Ongoin the site selection
that cause major Short-term
Freshwa g and construction
harm to the environment Medium-ter
ter and implem planning phases of 100% achieved
ecological al non m
Marine entati new, renovation
environment compliance Long-term
Use on and expansion
and incidents
projects, conduct
negatively
a comprehensive
impact on
assessment of
biodiversity
potential
nature-related
impacts and
prioritize design
and construction
plans that
minimize negative
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
disturbances;
prior to the
implementation of
new, renovation,
expansion, and
acquisition
projects, conduct
biodiversity
baseline surveys
and assessments to
ensure that
construction and
operational
processes comply
with ecological
protection
requirements; in
operational areas
affected by
disturbances,
scientifically
implement
ecological
compensation
measures such as
habitat
restoration.
Each subordinate
unit shall, at
The Company least once a year,
will conduct
regularly environmental
Ecosyst monitor the Ongoin impact monitoring,
Short-term
em and impacts of g species
Monitoring Medium-ter
Biodive its business implem distribution 100% achieved
frequency m
rsity activities entati monitoring, and
Long-term
Conserv on the on invasive species
ation surrounding monitoring within
ecological 5-kilometer radius
environment of the port area,
and species. to assess the
impact of their
operations.
Coverage of Ongoin For all new Short-term 100% achieved
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
biodiversit g construction Medium-ter
y impact implem projects, ensure m
assessments entati that a Long-term
for new on biodiversity
constructio impact assessment
n projects is conducted
annually prior to
construction to
identify the
project's
nature-related
impacts on the
ecological
environment.
Note: Target type includes short-term (1 year), medium-term (1-5 years) and long-term (over 5
years) targets.
Table 12 Performance of Nature-related Indicators
Addressing Climate Change
Indicators Unit 2022 2023 2024 2025
Total GHG Emissions
(Scope 1 + Scope 2 +
tCO2 e / 453,579.19 483,317.92 1,643,247.63
selected category
of Scope 3)
Total Operational
tCO2 e
GHG Emissions 486,555 453,522 483,241.01 472,965.04
(Scope 1 + Scope 2)
Scope 1 Direct GHG tCO2 e
Emissions
Scope 2 Indirect
tCO2 e 372,333 350,161 379,249.52 363,982.09
GHG Emissions
Scope 3 Other
Indirect GHG tCO2 e / / / 1,170,282.59
Emissions
The increase in total GHG emissions in 2025 compared to 2024 and 2023 is attributable to the
eight categories within Scope 3 in 2025. In 2023 and 2024, the Scope 3 accounting categories only
included emissions from air travel for business commuting.
Scope 3 Other Indirect GHG emissions here refer to all indirect emissions occurring within the
Company’s value chain (excluded from Scope 2). Scope 3 category include Category 1 – Purchased
goods and services, Category 2 – Capital goods, Category 3 – Fuel and energy-related activities,
Category 5 – Waste generated from operations, Category 6 – Business travel, Category 7 –
Employee commuting, Category 8 – Upstream leased assets and Category 13 – Downstream leased
assets. Given the nature of the Company’s business, the following categories are not applicable
for accounting purposes: Category 10 – Processing of sold products, Category 11 – Use of sold
products, Category 12 – Disposal of sold products and Category 14 – Franchising.
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
GHG Emission tCO2 e/RMB 1
Intensity (Scope 1 million 29.98 28.80 29.96 27.42
+ Scope 2) revenue
Environmental Management
Indicators Unit 2022 2023 2024 2025
Number of general
Level 3
incidents 0 0 0 0
environmental
emergencies
Pollution Emissions Management
Indicators Unit 2022 2023 2024 2025
kg/RMB
Exhaust Emission
million / / 831.02 778.37
Intensity
revenue
Wastewater tons/RMB 1
Discharge million 47.27 72.63 69.63 43.22
Intensity revenue
Non-hazardous tons/RMB 1
Waste Discharge million 0.8361 0.9804 0.8553 0.6737
Density revenue
tons/RMB 1
Hazardous Waste
million 0.0684 0.0470 0.0402 0.0514
Discharge Density
revenue
Comprehensive tons/RMB 1
Utilization Rate of million / / 40.51% 43%
General Solid Waste revenue
Water Resource Utilization
Indicators Unit 2022 2023 2024 2025
tons/RMB 1
Water Usage
million 333.03 280.96 295.68 223.77
Intensity
revenue
Land, Freshwater and Marine Use
Serious
Environmental cases 0 0 0 0
Violations
Ecosystem and Biodiversity Conservation
Indicators Unit 2022 2023 2024 2025
Coverage Rate of
Biodiversity
% 100% 100% 100% 100%
Impact Assessments
for New
Water Usage Intensity= Fresh Water Withdrawal (excluding Saline Water)/Operating Income
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
Construction
Projects
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
Appendix: TNFD Index Table
Pillar Disclosure Requirements Location
I. Governance
A. Describe the board's oversight of
(1) Nature-related
nature-related dependencies, impacts,
governance
risks and opportunities.
framework
I. Governance
B. Describe management's role in assessing
(1) Nature-related
and managing nature-related dependencies,
governance
impacts, risks and opportunities
framework
Governance
C. Describe the organization's human rights
policies and engagement activities, and
oversight by the board and management, with
I. Governance
respect to Indigenous Peoples, Local
(2) Stakeholder
Communities, affected and other
Engagement
stakeholders, in the organization's
assessment of, and response to,
nature-related dependencies, impacts,
risks and opportunities.
II. Strategy
(2) Assessment of
A. Describe the nature-related natural-related
dependencies, impacts, risks and dependencies and
opportunities the organization has impacts
identified over the short, medium and long (3) Management of
term. Nature-Related
Risks and
Opportunities
B. Describe the effect nature-related II. Strategy
dependencies, impacts, risks and (3) Management of
opportunities have had on the Nature-Related
Strategy
organization's business model, value chain, Risks and
strategy and financial planning, as well as Opportunities
any transition plans or analysis in place.
II. Strategy
C. Describe the resilience of the
(4) Strategies for
organization's strategy to nature-related
Ecosystem and
risks and opportunities, taking into
Biodiversity
consideration different scenarios.
Conservation
D. Disclose the locations of assets and/or II. Strategy
activities in the organization's direct (1) Positioning and
operations and, where possible, upstream Interfaces with
and downstream value chain(s) that meet the Nature
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China Merchants Port Group Co., Ltd. 2025 Nature-Related Financial Impact Report
criteria for priority locations.
A(i) Describe the organization's processes
for identifying, assessing and prioritising
nature-related dependencies, impacts,
III. Risk and
risks and opportunities in its direct
Impact Management
operations.
(1) Management of
A(ii) Describe the organization's processes
Nature-related
for identifying, assessing and prioritising
Dependencies,
nature-related dependencies, impacts,
Impacts, Risks and
Risk & risks and opportunities in its upstream and
Opportunities
impact downstream value chain(s) .
management B. Describe the organization's processes
for managing nature-related dependencies,
impacts, risks and opportunities.
III. Risk and
C. Describe how processes for identifying, Impact Management
assessing, prioritising and monitoring (2) Integration of
nature-related risks are integrated into Nature-Related
and inform the organization's overall risk Risks into
management processes. Corporate Risk
Management
A. Disclose the indicators used by the
organization to assess and manage material
nature-related risks and opportunities in a
manner consistent with its strategy and risk
management process.
Metrics & B. Disclose the indicators the organization IV. Indicators and
targets uses to assess and manage its dependencies Targets
on and impacts on nature.
C. Describe the targets and goals used by the
organisation to manage nature-related
dependencies, impacts, risks and
opportunities and its performance against
these.
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