ENN Energy Releases the 2024 Edition of Decarbonisation Action 2030 – The Journey to Net Zero
- Written by Media Outreach
Achieving Several Low-Carbon Transition Targets Ahead of Schedule, Updating Net-Zero Roadmap
HONG KONG SAR - Media OutReach Newswire - 2 December 2024 - ENN Energy Holdings Limited (stock code: 2688; "ENN Energy" or "the Company"), one of the largest clean energy distributors in China, recently published the 2024 edition of "Decarbonisation Action 2030 – The Journey to Net Zero" (the "Decarbonisation Action 2024"). This report comprehensively reviews the progress of the targets set in the inaugural Decarbonisation Action 2021, highlights key actions taken in various business scenarios to reduce emissions, updates ENN Energy's net-zero roadmap, and sets more ambitious new targets. 
ENN Energy’s Net-Zero Roadmap – 2024 Edition
ENN Energy first released "Decarbonisation Action 2030 – Journey to Net Zero" in 2021, proposing a long-term goal of achieving net-zero emissions by 2050 without relying on the purchase of green certificates and other offsets. The publication of the Decarbonisation Action 2024 fulfils the Company's commitment to reviewing its decarbonisation action plan every three years, examining the progress and achievements, and adjusting key targets to ensure the smooth advancement of its low-carbon transition.
Smooth progress on low-carbon transition targets, with several targets achieved ahead of schedule
Over the past three years, the targets set in the Decarbonisation Action 2021 progressed smoothly, with some targets being achieved ahead of schedule. By the end of 2023, ENN Energy made significant strides in reducing greenhouse gas (GHG) emissions and optimising its energy structure, including:
- By continuously optimising methane control management, and promoting energy conservation and emission reduction, the GHG emission intensity of the city-gas business was reduced by 28.5% compared to 2019, surpassing the target of a 20% reduction by 2030 and achieving this significantly ahead of schedule.
- The GHG emission intensity per unit of energy generated in the integrated energy (IE) business decreased by 36.5% compared to 2019 through continuous exploration and promotion of renewable energy and diversification for a cleaner energy mix. The Company is making progress toward the target of a 48% reduction by 2030.
- By improving the energy efficiency of office buildings and implementing energy conservation measures, the energy consumption per unit area of office buildings was reduced by 11% compared to 2021, exceeding the target of a 10% reduction by 2025 and achieving this ahead of schedule.
- As of 30 June 2024, the annual biomass consumption reached 1.87 million tonnes, up 273.5% from 0.5 million tonnes in 2021. The Company is making progress toward the target of 3.27 million tonnes by 2030.
- In December 2023, the Company released its first Climate-Related Financial Disclosure Report, which disclosed its progress in terms of governance, strategy, risk management, metrics and targets by referencing the Task Force on Climate-Related Financial Disclosures (TCFD) framework.
- The updated investment and financing requirements and performance management methods for key green industry projects were included in the 2024 ENN Energy Green Finance Framework, which obtained an independent second-party opinion and certification provided by S&P Global in 2024.
Low-carbon transition driven by innovation in four key scenarios: Nature Gas, IE, Value Added Business and Low-Carbon Office
As a pioneer in the low-carbon transition, ENN Energy strives to promote the green development of industry and society through continuous innovation of its technology and business model. Based on customers' actual needs, the Company provides whole-chain, customised energy solutions across four key scenarios: natural gas, IE, value added business and low-carbon office.
In the Natural Gas scenario, the Company is constantly improving its methane emission control initiatives and exploring innovative technologies to further enhance the energy efficiency of natural gas. Meanwhile, the Company is actively exploring the application prospects of natural-gas-based hydrogen projects. This includes collaborating with customers to build the first hydrogen blending station at a project operation site, achieving the simultaneous development of natural gas and hydrogen. In the IE scenario, the Company is actively advancing the construction of low-carbon factories and industrial parks while providing cleaner energy to facilitate the low-carbon transition in industrial energy use. The Company also leverages its extensive experience in building services management to provide customised building energy-saving solutions. Additionally, the Company is expanding its clean energy solutions with a focus on photovoltaics and biomass energy. This includes customising a...