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EQS-News: ENCAVIS AG
/ Key word(s): Sustainability/ESG
Corporate News Science Based Targets initiative confirms climate targets of ENCAVIS Hamburg, 23 October 2023 - The independent Science Based Targets initiative (SBTi), following a thorough review, has officially confirmed that the climate targets of MDAX-listed wind and solar park operator Encavis AG (Prime Standard, ISIN: DE0006095003, stock xchange symbol: ECV) are in line with SBTi’s pathway of limiting global warming to 1.5°C. ENCAVIS has committed to reducing both direct emissions from fuel usage and indirect emissions from purchased energy (Scope 1+2) by at least 42% by 2030, starting from base year 2020. The goal is also to significantly decrease Scope 3 emissions, which ENCAVIS does not directly influence.
In 2040, ENCAVIS aims to reach "Net Zero" status by reducing its Scope 1+2+3 emissions by 95%. To reduce Scope 3 emissions, which currently make up 99% of ENCAVIS' total emissions, the Company collaborates with suppliers and business partners across the entire value chain to find solutions. Comprehensive analyses (life cycle assessments) are conducted to identify emission hotspots. Wherever possible, fossil fuels in production are replaced, recycled materials from the circular economy are used more extensively, and the use of low-emission transportation is further increased.
"It is our responsibility to positively contribute to combating climate change by reducing our greenhouse gas emissions and fulfilling our role as a leading independent renewable energy producer in Europe. With our transition plan for the coming years, we have deliberately based our specific goals on scientific insights. We are therefore delighted that the Science Based Targets initiative has officially confirmed our climate goals," commented Dr Christoph Husmann, Spokesperson of the Management Board and Chief Financial Officer (CFO) of Encavis AG.
ENCAVIS' climate targets are part of the Group's integrated sustainability strategy, which focuses on twelve key topics within four sustainability dimensions (economic, environmental, social and governance). Details can be found in the Sustainability Report 2022: /Dokumente/Nachhaltigkeit/Berichterstattung/Encavis-Sustainability-Report-2022.pdf
Further information on SBTi can be found here: Summary of Encavis AG's climate targets according to SBTi
About ENCAVIS: Within the Encavis Group, Encavis Asset Management AG offers fund services to institutional investors. Another Group member company is Stern Energy S.p.A., based in Parma, Italy, a specialist provider of technical services for the installation, operation, maintenance, revamping and repowering of photovoltaic systems across Europe.
23.10.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | ENCAVIS AG |
| Große Elbstraße 59 | |
| 22767 Hamburg | |
| Germany | |
| Phone: | -0 |
| Fax: | -129 |
| E-mail: | |
| Internet: | |
| ISIN: | DE0006095003 |
| WKN: | 609500 |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1754323 |
| End of News | EQS News Service |
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1754323 23.10.2023 CET/CEST
