ENCAVIS AG presents roadmap to full climate neutrality by 2040

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ENCAVIS presents roadmap to full climate neutrality by 2040

• Encavis AG to achieve net zero carbon emissions (Scope 1+2) by 2030
• Carbon emissions (Scope 1+2) to be halved as early as 2025
• Target of net zero carbon emissions (Scope 1, 2 and 3) set for 2040
   

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:
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 more than 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. 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.

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
Tel.: +49 89 442 30 60 25
Email: tanja.van_den_wouwer@encavis.com