from Progress-Werk Oberkirch AG (isin : DE0006968001)
PWO locations in China switch to green electricity
EQS-News: PWO AG / Key word(s): ESG
PWO locations in China switch to green electricity
28.08.2023 / 08:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
Press Release
PWO locations in China switch to green electricity
Carlo Lazzarini (CEO): “Climate change is not just on its way – it is already here. Now decisive action is needed to limit further warming of our planet. We are therefore switching our locations in China to green electricity by 2026.”
- At the Suzhou location, a photovoltaic system with an estimated annual output of 400,000 kWh is to be installed
- The switch to green electricity will be further accelerated with other SBTi-recognized instruments
Oberkirch, August 28, 2023 – The PWO Group is to install a photovoltaic system with an annual output of around 400,000 kWh of green electricity at its location in Suzhou, China. This system will help make the location less dependent on the fluctuating electricity prices on the market.
In addition, we will use other instruments recognized by the Science Based Targets initiative (SBTi) – such as green electricity certificates in line with the I-REC standard for example – to switch both locations to green electricity by 2026.
The PWO Group’s ambitious climate protection targets
The locations in China are an important factor for reducing the greenhouse gas emissions of the entire PWO Group, as almost one-third of the Group’s expected emissions in 2023 will come from the Chinese locations. PWO has already reduced its greenhouse gas emissions by almost 40% throughout the Group compared with the base year 2019. In line with its SBTi-validated climate protection targets, greenhouse gas emissions are to be reduced by 46.2% in Scope 1 & 2 and by 28.0% in Scope 3 by 2030. In this way, PWO is implementing the Paris Agreement on climate action.
The PWO locations in China
Since 2009, the 2 locations in China have been supplying the Asian production sites of our customers there. With revenue of EUR 52 million, they accounted for approximately one-tenth of the PWO Group’s revenue in 2022. They supply our customers with our entire range of innovative product solutions in climate-friendly lightweight construction at the frontiers of what is technically possible and ensure local content with maximum delivery quality and reliability.
PWO AG
The Executive Board
Contact:
Charlotte Frenzel
Investor Relations & Corporate Communications
T. +49 179 6904 237
M. charlotte.frenzel.ext.ma@pwo-group.com
PWO Group: Pushing boundaries in lightweight metal solutions
1,200 PRODUCT SOLUTIONS | 3,000 EMPLOYEES | 9 LOCATIONS | OVER 100 YEARS OF EXPERIENCE
We are a global player in the mobility industry, that is shaping the environmentally friendly mobility of the future with innovations and is completely independent of the internal combustion engine.
With our expertise in climate-friendly lightweight construction, we are technology leaders and combine economic efficiency with sustainability. We develop and produce sophisticated metal components and complex subsystems at the limits of what is technologically feasible. With innovative and sustainable concepts, we meet the challenges of our time. But above all, we want to seize the opportunities that come with them.
As a values-based employer with accessible structures at the global level, we offer our employees a purpose-driven environment in which to realize their personal perspectives. Transparent and responsible corporate governance is part of our identity.
Our corporate strategy is summarized by the motto PEOPLE. PLANET. PROGRESS.
28.08.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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| Language: | English |
| Company: | PWO AG |
| Industriestraße 8 | |
| 77704 Oberkirch | |
| Germany | |
| Phone: | +49 (0)7802 84-844 |
| Fax: | +49 (0)7802 84-789 |
| E-mail: | ir@pwo-group.com |
| Internet: | www.pwo-group.com |
| ISIN: | DE0006968001 |
| WKN: | 696800 |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange |
| EQS News ID: | 1712299 |
| End of News | EQS News Service |
1712299 28.08.2023 CET/CEST