Last year was a challenging year with great turbulence for the energy sector. The effects of climate change and current global energy crisis have highlighted the importance of developing renewable energy and the urgency of energy transition. As a multinational clean energy group, CTGI also noticed this situation and continued developing our generation capacity to meet the upsurging energy demand. By the end of 2023, we have reached a total installed capacity of 19.06GW, almost all are clean.
We pay high attention to the targets of The Paris Agreement and keep moving towards net zero by providing reliable and affordable clean energy to the world as well as embedding sustainability in our business and management performance.
Last year also marked a new beginning of CTGI. Throughout the year, we have carried out three transformations to guarantee our firm steps to the UN's 17 Sustainable Development Goals. First, we have incorporated a bold ESG ambition in our strategy that focused on environmental protection, social development and people's well-being. We have worked out an ESG Action Plan as well as two ESG guidelines for M&A and greenfield projects respectively. Second, we have constituted a diverse and efficient Board of Directors with 11 rich-experienced and professional directors, which strongly drives the Company towards energy transition. The Board has established the ESG and Related-party Transaction Committee, headed by Ms. Liu Yangyang, our female director, to look after the key issues, themes and actions of ESG. Third, we have carried forward our digitalization journey by introducing ERP (Enterprise Resource Planning) system into the Company's operation and management, which will help us to record, analyze and optimize our business in a more sustainable model.
Last year also marked the Company's progress towards sustainable development. We were awarded Europe's Best Renewable Energy Company and Germany's Most Innovative Energy Plant by the World Economic Magazine, indicating high recognition for our professional operational development in the industry. Our projects in Pakistan and Brazil were enrolled as the best cases in the Second and Third Global Poverty Reduction Case Collection Activity respectively, reflecting our fulfillment of the commitments to our stakeholders.
We could not make the aforesaid achievements alone, without the contribution and dedication of our talented global teams. We highly appreciate our shareholders, customers, suppliers, regulators, partners and local communities for your constant trust and supports on our mission and development journey. CTGI is poised to collaborate with more partners and promote global energy transition based on common principles and values.
