China Resources Power Holdings Co Ltd
CRPJY
Utilities
2
exclusion reasons
2 themes
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
China Resources Power Holdings Co Ltd operates a power generation fleet that is approximately 83% coal-fired, based on its 2024 Sustainability Report. The company’s core business is thermal coal power generation, an activity intrinsically linked to documented environmental destruction through coal mining, ash disposal, and water contamination.
The company’s 2024 report details its efforts to manage environmental impacts, yet its ongoing reliance on coal generation perpetuates systemic ecological harm. This includes the landscape degradation and habitat destruction from associated coal supply chains, as well as the risks of soil and water contamination from coal ash, a byproduct of its primary operations. While the company publishes sustainability goals, its operational footprint remains anchored in the coal power sector, a leading source of toxic contamination and ecological damage in its regions of operation.
China Resources Power Holdings operates a generation fleet that is overwhelmingly dependent on coal. Its Thermal Power segment, which constitutes its primary business activity, is engaged in the investment, development, operation, and management of coal-fired power plants. Historical disclosures indicate the company has relied on coal for more than 92% of its power generation.
The company is also vertically integrated into coal extraction. Its operations include a Coal Mining segment, and it has historically pursued acquisitions of coal mining assets. In 2013, these activities drew significant regulatory scrutiny. A lawsuit filed in Hong Kong alleged the company "suffered serious loss and damage" from its acquisition of coal mining assets with expired permits, leading to a formal audit by Beijing authorities and the subsequent investigation of company president Wang Yujun in 2014 for allegations of overpaying for coal mines.
While the company has a Renewable Energy segment, its core business model remains anchored in the ownership and operation of coal-burning power plants, with an integrated coal mining operation supporting that fleet. There is no public commitment or plan to phase out its coal-based power generation.
Research Sources
1 organization
Related Exclusions
Wondering what we do invest in?
The Naughty List
A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.