Envision promises to be operation-level carbon neutral by 2022, value chain carbon neutral by 2028: Envision's first carbon neutrality report

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Apr 23, 2021, 07:52 ET

- Envision debuts "Envision Ark System", an end-to-end system on carbon management
- Sequoia Capital China, Envision launch eco-partner project to boost net-zero technology innovation and application

SHANGHAI, April 23, 2021 /PRNewswire/ -- Envision Group, a world-leading green technology company, today released its first carbon neutrality report. Envision commits to be carbon neutral in its operations by 2022 and in its entire value chain by 2028, which will make it the first Chinese company to reach the full value chain carbon neutrality goal. The renewable energy technology giant made the commitment at Envision's Net Zero Day in Shanghai.

Envision promises to be operation-level carbon neutral by 2022

Envision and Sequoia Capital China jointly launched the "Carbon Neutrality Key Technologies" Eco-Partners Project

Zhang Lei, CEO of Envision Group said "addressing the challenges posed by climate change are critical to the survival of humanity. As a green technology company, Envision's mission is to solve the challenges for a sustainable future. We have set up a challenging goal and roadmap for ourselves: we will take the lead in achieving carbon neutrality, empower our partners to accelerate carbon neutrality, and help build a net-zero economic system."

With the support of The Carbon Trust, an international independent consulting organization, Envision has calculated the carbon emissions across its global operations and value chain, and analyzed the emissions for different business sectors and regions Envision operates in.

The detailed report disclosed environmental data across Envision Group's operations and value chain: In 2020, the group's scope 1&2 emissions were approximately 97,225 tCO2e, primarily from the Envision AESC battery business. With the rapid growth in smart wind turbines, power batteries, and AloT, Envision Group's carbon emissions are expected to increase substantially in 2022. In order to become carbon neutral in operations by 2022, Envision is estimated to reduce or offset over 400,000 tCO2e through conserving energy, increasing green electricity consumption, purchasing carbon credits, etc.

"It is not enough for Envision to be an industry pioneer, but to become a net-zero technology partner as well. We want to help more companies and governments to achieve carbon neutrality together," Zhang Lei added.

At the "Net Zero Day" event, Envision debuted the "Envision Ark Carbon Management System". This system is based on AloT technology that can monitor the real-time carbon footprints of companies and organizations, and automatically generate carbon-emission reports. The Ark system can also simulate and optimize the emission reduction roadmap for future offset planning, while allowing users to directly purchase green electricity, obtain green certificates, and trade carbon sinks. With Envision's Ark Carbon Management System, companies and organizations benefit from an end-to-end solution that can accelerate their carbon neutral transformation.

In 2020, more than 95% of Envision's greenhouse gas emissions came from indirect emissions in the value chain, beyond Envision's day-to-day operations. Regarding the upstream and downstream emissions, Envision will speed up emission reduction from two-pronged approach: focusing internally on product optimization, and externally on supplier engagement. In the report, Envision pledges to join the "Business Ambition for 1.5°C" and set science-based targets aligned with the Paris Agreement. Envision will submit the targets to the Science Based Targets initiative (SBTi).

At the event, Envision and Sequoia Capital China jointly launched the "Carbon Neutrality Key Technologies" Eco-Partners Project, part of the Carbon Neutrality Fund jointly established by Envision and Sequoia Capital China. The project aims to help accelerate innovation of carbon neutrality technology, form new industrial chains and promote technology application.

Since its establishment in 2007, Envision has designed and manufactured more than 12,500 wind turbines connected to grids globally, with a cumulative output of over 150,000 GWh of clean electricity, which reduce about 100 million tCO2e. Nearly 600,000 electric vehicles have installed power batteries produced by Envision AESC. Compared with traditional internal combustion engine vehicles, these EVs are estimated to reduce carbon dioxide emissions by 660,000 tCO2e per year. Envision Digital's world-leading AloT operating system EnOS™ manages more than 200GW of renewable energy assets, equivalent to the newly added installed capacity globally in 2020 for wind and solar energy.

"The next ten years will be a critical time for humankind to respond to the global climate crisis. The release of the first carbon neutral report is not only to show our ambitions to our partners, but also to show confidence in our technological innovations and solutions," Zhang Lei said.

To download the Chinese and English versions of the report, please visit: http://www.envision-group.com/cn/zeroday2021.html

About Envision Group

Envision Group is a world leading greentech company. With the mission of 'solving the challenges for a sustainable future', Envision designs, sells and operates smart wind turbines and smart storage system through Envision Energy, AIoT-powered batteries through Envision AESC and the world's largest AIoT operating system through Envision Digital. It also owns Envision Virgin Racing Formula E team.

Envision Group was ranked among the Top 10 of the 2019 'World's 50 Smartest Companies' by the MIT Technology Review. As an innovation powerhouse, it leverages global network of R&D and engineering centers across China, Unite States, Germany, Denmark, Singapore and Japan, leading global green technology development. Envision Group joined the global 'RE100' initiative and became the first company in mainland China committed to 100% renewable electricity by 2025.

On April 22, 2021, Envision Group announced it will achieve carbon neutral in operations by 2022 and achieve carbon neutral throughout its value chain by 2028.

For more information, please visit: www.envision-group.com

SOURCE Envision