published on 10/23/2023 at 08:14 from CapitalStage AG (isin : DE0006095003)

ENCAVIS AG: Science Based Targets initiative (SBTi) confirms climate targets of ENCAVIS

EQS-News: ENCAVIS AG / Key word(s): Sustainability/ESG
ENCAVIS AG: Science Based Targets initiative (SBTi) confirms climate targets of ENCAVIS

23.10.2023 / 08:14 CET/CEST
The issuer is solely responsible for the content of this announcement.

Corporate News

Science Based Targets initiative confirms climate targets of ENCAVIS

Hamburg, 23 October 2023 - The independent Science Based Targets initiative (SBTi), following a thorough review, has officially confirmed that the climate targets of MDAX-listed wind and solar park operator Encavis AG (Prime Standard, ISIN: DE0006095003, stock xchange symbol: ECV) are in line with SBTi’s pathway of limiting global warming to 1.5°C.

ENCAVIS has committed to reducing both direct emissions from fuel usage and indirect emissions from purchased energy (Scope 1+2) by at least 42% by 2030, starting from base year 2020. The goal is also to significantly decrease Scope 3 emissions, which ENCAVIS does not directly influence.

In 2040, ENCAVIS aims to reach "Net Zero" status by reducing its Scope 1+2+3 emissions by 95%. To reduce Scope 3 emissions, which currently make up 99% of ENCAVIS' total emissions, the Company collaborates with suppliers and business partners across the entire value chain to find solutions. Comprehensive analyses (life cycle assessments) are conducted to identify emission hotspots. Wherever possible, fossil fuels in production are replaced, recycled materials from the circular economy are used more extensively, and the use of low-emission transportation is further increased.

"It is our responsibility to positively contribute to combating climate change by reducing our greenhouse gas emissions and fulfilling our role as a leading independent renewable energy producer in Europe. With our transition plan for the coming years, we have deliberately based our specific goals on scientific insights. We are therefore delighted that the Science Based Targets initiative has officially confirmed our climate goals," commented Dr Christoph Husmann, Spokesperson of the Management Board and Chief Financial Officer (CFO) of Encavis AG.

ENCAVIS' climate targets are part of the Group's integrated sustainability strategy, which focuses on twelve key topics within four sustainability dimensions (economic, environmental, social and governance). Details can be found in the Sustainability Report 2022:

https://www.encavis.com/Dokumente/Nachhaltigkeit/Berichterstattung/Encavis-Sustainability-Report-2022.pdf

Further information on SBTi can be found here:

https://sciencebasedtargets.org/

Summary of Encavis AG's climate targets according to SBTi

	Organization Type	Sector	Target summary
	Small or Medium Enterprise	Electric Utilities, Independent Power Producers and Energy Traders (including fossil, alternative and nuclear energy)	Near term: 1.5°C by 2030 Long term: 1.5°C by 2040 Net zero: Committed by 2040

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 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

23.10.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

Language:	English
Company:	ENCAVIS AG
	Große Elbstraße 59
	22767 Hamburg
	Germany
Phone:	+49 4037 85 62 -0
Fax:	+49 4037 85 62 -129
E-mail:	info@encavis.com
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:	1754323


End of News	EQS News Service

1754323 23.10.2023 CET/CEST

See all CapitalStage AG news