EQS-News: VERBUND AG / Key word(s): ESG
VERBUND AG: Climate Transition Plan published – VERBUND plans to be
climate neutral by 2040 and achieve net zero by 2050
24.10.2024 / 11:08 CET/CEST
The issuer is solely responsible for the content of this announcement.
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As a leading Austrian energy company and one of the largest producers of
hydroelectricity in Europe, VERBUND is committed to becoming climate
neutral by 2040 and achieving net zero greenhouse gas emissions by 2050.
With the Climate Transition Plan published today, VERBUND has set a clear
path with measurable targets and actions to reduce greenhouse gas
emissions. VERBUND plans to achieve a 74% reduction in greenhouse gas
emissions by 2030, with a further reduction of at least 90% by 2040
compared with the base year 2020. Ultimately, the goal is to reach net
zero by 2050. Greenhouse gas emissions attributable to investing in the
decarbonisation of the energy system are the sole exception to this
commitment.
In order to achieve these ambitious targets, VERBUND has introduced
targeted measures along the entire value chain in accordance with Mission
V. They include the expansion of green energy generation and flexibility
in Europe, switching to green hydrogen and using former gas pipelines to
transport it, reducing indirect emissions, research and development as
well as electromobility.
By adopting this approach, VERBUND is pursuing a pathway to lower
emissions backed by science that aligns with the Paris Agreement objective
to limit global warming to below 1.5°C.
Top mark in Moody’s net zero assessment
The VERBUND Climate Transition Plan was awarded the best possible rating,
NZ-1 (leading), by Moody’s rating agency for the first time and as part of
a non-mandatory assessment which covered the topics ambition,
implementation and governance.
VERBUND Climate Transition Plan – the path to net zero
Short-term targets for 2030
• Reducing emissions: VERBUND is committed to reducing its Scope 1, 2
and 3 greenhouse gas emissions – with the exclusion of category 2 – by
74% between 2020 and 2030. Category 2 emissions refer to indirect
emissions arising from investments in the decarbonisation of the
energy system.
• VERBUND is committed to lowering the intensity of Scope 1 emissions
(direct emissions) attributable to electricity generation by 40% by
2030.
Long-term targets for 2040
• Climate neutrality: VERBUND is committed to becoming climate neutral
by 2040 by lowering its Scope 1, 2 and 3 greenhouse gas emissions –
with the exclusion of category 2 – by 90% by 2040 compared with the
base year 2020.
• First and foremost, this will be achieved by reducing the specific
greenhouse gas emissions classified as Scope 1 (direct emissions) by
90% and reducing Scope 3 emissions (electricity sales) by 98% compared
with the base year 2020.
Long-term targets for 2050
• Net zero: VERBUND is committed to achieving net zero greenhouse gas
emissions by 2050 (by reducing greenhouse gas emissions by at least
90% and avoiding residual emissions) compared with the base year 2020.
Greenhouse gas emissions arising from investments in the
decarbonisation of the energy system (expansion of renewable energy)
are the only form of emissions exempt from this commitment.
Contact: Andreas Wollein
Head of Group Finance and Investor Relations
T.: +43 (0)5 03 13 – 52604
F.: +43 (0)5 03 13 – 52694
investor-relations@verbund.com
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24.10.2024 CET/CEST This Corporate News was distributed by EQS Group AG.
www.eqs.com
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Language: English
Company: VERBUND AG
Am Hof 6A
1010 Wien
Austria
Phone: 0043-1-53113-52604
Fax: 0043-1-53113-52694
E-mail: investor-relations@verbund.com
Internet: www.verbund.com
ISIN: AT0000746409
WKN: 877738
Indices: ATX
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 2015467
End of News EQS News Service
2015467 24.10.2024 CET/CEST
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