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China’s Alibaba pledges carbon neutrality by 2030 -Breaking

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© Reuters.

SHANGHAI (Reuters). Alibaba (NYSE:) Group pledged that by Friday, it will achieve carbon neutrality and reduce its emissions in the supply chain and transport networks by at least 50%.

Alibaba promised that it would bring to zero its direct carbon dioxide production, known as “scope 1”, and indirect “scope2” emissions, derived from heating or electricity consumption.

The company also stated that it will reduce the carbon intensity of “scope 3” emission – which are produced in transportation, bought goods and services as well as waste by half by 2030.

Additionally, the company pledged to decrease overall carbon dioxide emissions by 1.5 gigatonnes across all of its businesses by 2035.

Alibaba will use energy-saving technologies and renewable energy to reach its goal. They also plan on exploring carbon removal strategies that can remove greenhouse gases from the atmosphere.

Daniel Zhang, chief executive of the company, stated that the company sought to mobilize actions and behavioral changes among Chinese consumers, merchants, and other partners around the globe.

China’s President Xi Jinping stated last year that it would be carbon neutral in 2060. The announcement put the pressure on its giant corporations to develop their own strategies to get to “net zero”.

China’s huge tech companies are heavily dependent upon the country’s coal-dominated electricity system. Only a handful of them have yet committed to changing to renewable power sources.

Greenpeace, an environmental group published a report earlier in the year naming Tencent Holdings OTC: as China’s best cloud provider for procuring renewable energy. Baidu Inc. (NASDAQ:), third, and Alibaba fourth were ranked second by Huawei Technologies.

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