EQS-News: ENCAVIS AG presents roadmap to full climate neutrality by 2040
EQS-News: ENCAVIS AG
/ Key word(s): Sustainability/ESG
Corporate News
Hamburg, 13 July 2023 – MDAX-listed wind farm and solar park operator Encavis AG (Prime Standard, ISIN: DE0006095003, stock market symbol: ECV) has set itself even more ambitious goals on the way to climate neutrality and wants to become carbon neutral by 2040. The Company has now presented a roadmap with specific steps and defined goals that will be implemented in the coming years to achieve this goal – the so-called “Encavis Transition Plan”. According to the International Renewable Energy Agency, 85% of the world’s energy production must come from renewable sources in order to meet the 2015 Paris Agreement climate goals and to limit the global average temperature increase to clearly below 2°C by 2050. This requires huge investments in wind power, solar energy and battery storage capacities. Today already, ENCAVIS contributes to this with a Group-wide capacity of more than 3.5 gigawatts (GW). By 2027, the portfolio of company-owned wind farms and solar parks is to be expanded to 8 GW. The Encavis Transition Plan comprises concrete steps and measures to show how the Company’s own emissions, i.e. Scope 1 and Scope 2 emissions, will be completely eliminated by 2030. This includes emissions from the Company’s vehicles, which are to be fully electric by 2030. The electricity and heat consumed by the Company's offices and the electricity used to operate its wind and solar power plants will also be generated exclusively from Renewable Energy sources by 2030. Scope 3 emission intensity is to be cut by 95% by 2040. In order, to reduce these Scope 3 emissions, which currently account for 99% of ENCAVIS' total emissions, the Company is working with suppliers and business partners along the entire value chain to find solutions that will help to achieve the goal of carbon neutrality by 2040. Measures include life cycle analysis to identify the main sources of emissions, substitution of fossil fuels in production wherever possible, increased use of recycled materials from the circular economy and increased use of low-emission transport. Encavis will review the effectiveness and target achievement level of this action plan on an annual basis and will adjust and optimise it as necessary.
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 specialised provider of technical services for the installation, operation, maintenance, revamping and repowering of photovoltaic systems across Europe.
13.07.2023 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: | 1678715 |
End of News | EQS News Service |
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1678715 13.07.2023 CET/CEST
Encavis AG Stock
Our community is currently high on Encavis AG with 3 Buy predictions and 1 Sell predictions.
However, we have a potential of -11.87% for Encavis AG as the target price of 15 € is below the current price of 17.02 €.