ENCAVIS AG continues to reduce its carbon footprint in 2022

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:

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:

https://www.encavis.com/en/newsroom/downloads

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. In addition, the Group currently has around 1 GW of capacity under construction, of which more than 600 MW are own assets.

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.

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
E-Mail: tanja.van_den_wouwer@encavis.com
http://www.encavis.com