Fintech giant Ant Group has unveiled its own emission reductions targets amidst efforts by the Chinese central government to reduce the economy’s carbon footprint.
Ant announced on 12 March that it would commit to the implementation of scope 1 and scope 2 carbon neutrality in its business operations this year, as well as achieve net zero emissions by 2030.
Ant said that it would implement emission reductions and energy efficiency upgrades to its facilities, as well as apply green building standards to the design of new facilities and establish appropriate incentivization mechanisms.
Ant will also encourage staff to engage in “low carbon work behaviour,” actively drive green investment, and establish a “carbon neutral technological innovation fund.”
With regard to indirect emissions under scope 3, Ant will establish green procurement mechanisms to achieve carbon reductions in its supply chains, and make use of technologies such as liquid cooling to drive emissions reductions at its data centres.
Ant said that it would implement carbon offset plans such as forestry investments and other “nature-based” solutions for emissions that cannot be reduced by other means.
The Chinese government recently set the goals of achieving peak CO2 emissions before 2030, and achieving carbon neutrality prior to 2060.