ENCAVIS AG improves carbon footprint and documents emission levels

Corporate News

ENCAVIS improves carbon footprint and documents emission levels

Hamburg, 2 May 2023 – MDAX-listed wind and solar park operator Encavis AG (Prime Standard, ISIN: DE0006095003, ticker symbol: ECV) today publishes its carbon footprint for fiscal year 2021 and continues its goal to record and sustainably reduce its emissions. To this end, the Group has been reporting emissions in accordance with the recognised Greenhouse Gas Protocol (GHG Protocol) since 2020. The 2022 carbon footprint is scheduled for publication before the end of 2023.

In calculating Encavis' corporate carbon footprint, all emissions were included – Scope 1, Scope 2 and Scope 3 emissions:

Scope 1 emissions include direct emissions resulting from the combustion of fuels in corporate facilities or vehicles.

Scope 2 emissions refer to indirect emissions that result from the purchase and consumption of electricity, heat or steam produced by an energy supplier.

Scope 3 emissions are all other indirect emissions in the upstream and downstream value chains that result from activities outside a company's control but related to its business activities. Examples include the production of raw materials, the supply chain, and the disposal of waste products. The latter are usually the main drivers of corporate emissions, as is the case with ENCAVIS.

"The emissions balance sheet provides us with transparency about our emission sources and thus serves as a basis for identifying, planning and implementing suitable measures. Our primary goal is to avoid emissions altogether, if possible, or at least to reduce them," says Dr Christoph Husmann, Spokesman of the Executive Board and CFO of Encavis AG.

In fiscal year 2021, Encavis Group greenhouse gas emissions were reduced by 15% year-on-year to a total of 474,907 tonnes of CO₂e. In 2020, emissions were still at 558,644 tonnes CO₂e. In addition to the significant decrease in commuter trips - also due to COVID-19 - and less acquisitions of Renewable Energy plants, the savings measures already implemented in the previous year had a positive impact on the carbon footprint. These include, in particular the increased purchase of Renewable Energy for the operation of the wind and solar parks (97%).

From 2020 to 2021, the release of Scope 1 emissions almost doubled, but they remain at a very low level. At ENCAVIS, these arise exclusively from the use of company vehicles. Overall, direct Scope 1 emissions amount to well below one percent in relation to total CO₂ emissions.

Scope 3 emissions account for 99% of total emissions. Scope 3 emissions arise in the upstream supply chains. In particular, the construction activities of new wind and solar parks drive up emissions. Reducing these emissions is only possible in cooperation with suppliers. The goal of a climate-neutral energy supply can only be achieved together.

"The focus of our climate protection measures is on decarbonising our supply chains, based on improved data collection and processing of our Scope 3 emissions, work on a uniform data architecture for the entire Group, and close cooperation with our suppliers and project partners," explained Dr Christoph Husmann.

However, these emissions are then offset by significant savings from the CO₂-free electricity production of the Encavis Group's wind and solar parks. To date, this has enabled a total of over 1.1 million tonnes of climate-damaging greenhouse gas to be avoided each year.

More information about climate management at Encavis sites is available in the Encavis AG Sustainability Report, which will be published on 22 May 2023.

ENCAVIS is advised by DFGE for the preparation of its corporate carbon footprint.

About ENCAVIS:
Encavis AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) is a producer of electricity from Renewable Energies listed on the MDAX of Deutsche Börse AG. As one of the leading independent power producers (IPP), ENCAVIS acquires and operates (onshore) wind farms and solar parks in twelve European countries. The plants for sustainable energy production generate stable yields through guaranteed feed-in tariffs (FIT) or long-term power purchase agreements (PPA). The Encavis Group's total generation capacity currently adds up to around 3.5 gigawatts (GW), of which more than 2.1 GW belongs to the Encavis AG, which corresponds to a total saving of around 0.8 million tonnes of CO₂ per year stand-alone for the Encavis AG. Within the Encavis Group, Encavis Asset Management AG offers fund services to institutional investors.

Encavis is a signatory of the UN Global Compact as well as of the UN PRI network. Encavis AG's environmental, social and governance performance has been awarded by two of the world's leading ESG rating agencies. MSCI ESG Ratings awarded the corporate ESG performance with their "A" level and ISS ESG with their "Prime" label.

Additional information can be found on www.encavis.com

Contact:
Encavis AG
Tanja Van den Wouwer
Head of Sustainability & Communications   
Phone +49 89 44230 6025    
Email tanja.van_den_wouwer@encavis.com