EQS-News: ENCAVIS AG continues to reduce its carbon footprint in 2022
EQS-News: ENCAVIS AG
/ Key word(s): Sustainability/ESG
Corporate News ENCAVIS continues to reduce its carbon footprint in 2022 Hamburg, 4 October 2023 – The MDAX-listed wind and solar park operator Encavis AG (Prime Standard, ISIN: DE0006095003, stock symbol: ECV) is making steady progress in reducing its emissions: In comparison to the previous year, CO2 emissions were reduced by more than 30 percent in 2022. The carbon footprint of the Encavis Group decreased to 326,437 tonnes of CO2e in the fiscal year 2022 (FY 2021: 474,907 t CO2e). A significant reduction can be observed in market-based Scope-2 and Scope-3 emissions. Emissions of the Encavis Group in tonnes of CO2 equivalents: "By 2030, we will reduce our entire Group's Scope-1 and Scope-2 emissions by 100 percent compared to the year 2020. We calculate our corporate carbon footprint according to the recognised Greenhouse Gas Protocol (GHG-Protocol)," stated Dr Christoph Husmann, spokesman of the Management Board and CFO of Encavis AG. "Fortunately, our measures are having an impact - we have been able to reduce CO2 emissions in our park portfolio by 95 percent compared to the base year (2020) through the switch to green electricity supply."
Due to the acquisition of Stern Energy in 2022, direct Scope-1 emissions increased to 223 tonnes of CO2e (FY 2021: 39 t CO2e), with the increase primarily attributable to business-related travel activities. In absolute terms, most of the Group's emissions (99 percent) fall under Scope 3. This category encompasses all emissions from indirect sources that a company does not directly control. Within the Encavis Group, these emissions arise in the upstream supply chains, particularly due to the construction activities of new wind and solar parks, driving emissions upward. However, these emissions are offset significantly by the CO2-free electricity production from the Group's wind and solar parks, known as "avoided emissions". In 2022, the wind and solar parks prevented the release of a total of over 1.1 million tonnes of climate-damaging greenhouse gases - a growing trend. CO2 savings of the Encavis Group in thousand tonnes of CO2 equivalents: "A contribution to the fight against climate change" is one of twelve action areas of the sustainability strategy of the Encavis Group. In the sustainability Report 2022, you can also find information about the other eleven key topics. You can access the sustainability Report 2022 here:
https://www.encavis.com/en/newsroom/downloads
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.
04.10.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | |
Große Elbstraße 59 | |
22767 Hamburg | |
Germany | |
Phone: | +49 4037 85 62 -0 |
Fax: | +49 4037 85 62 -129 |
E-mail: | [email protected] |
Internet: | https://www.encavis.com |
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: | 1740475 |
End of News | EQS News Service |
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1740475 04.10.2023 CET/CEST
Encavis AG Stock
Currently there is a rather positive sentiment for Encavis AG with 4 Buy predictions and 1 Sell predictions.
On the other hand, the target price of 17 € is below the current price of 17.01 € for Encavis AG, so the potential is actually -0.06%.