Wallbox (NYSE:WBX), a leading provider of electric vehicle (EV) charging and energy management solutions worldwide, announced its goal to achieve Net Zero greenhouse gas (GHG) emissions across its global footprint by 2030. This announcement comes on the heels of the release of the company’s first sustainability report since listing on the New York Stock Exchange.
Sustainability is a driving force behind everything we do at Wallbox, and climate change is a global issue. As a global company, we feel propelled to lead by example,” said Enric Asunción, CEO and co-founder of Wallbox. “While this is our first official pledge, it is just one example of how sustainability is part of our DNA. Last year alone we reduced the emissions from our HQ by 18%, through the installation of solar panels and the use of our proprietary energy management solution.”
Wallbox’s plan is intended to not only account for all emissions emitted from its buildings and internal operations, but also take into account its footprint throughout the full value chain of its products. To achieve this ambitious target the company has outlined a three-phase plan:
Phase 1
Impact measurement: Measured GHG emissions from our internal operations in our offices and facilities (scope 1 and 2), which amounted to 110 tons of carbon emissions in 2021.
Emissions reductions: Begin implementing GHG emissions reduction plan.
Phase 2
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Reduce emissions from our offices and factories to achieve a carbon free internal footprint.
Continue to assess and reduce upstream and downstream emissions.
Phase 3
Net Zero: Reduce emissions as much as possible and offset residual emissions to reach Net Zero by 2030.
Asunción continued, “while some carbon offsetting may be necessary, our ESG strategy will be primarily based on reducing greenhouse gas emissions as much as possible, and we plan to offset residual emissions only where we cannot reduce greenhouse gas emissions any further through other means.”
Wallbox expects to sign the Global Compact and plans to undertake the UN’s Sustainable Development Goals. Wallbox is not only aligning to the Paris Agreement but, based on its plans, is on an accelerated track, with an aggressive goal of Net Zero GHG emissions by 2030, 20 years ahead of the Paris Agreement. Using Wallbox’s proprietary energy management system, Sirius, the company has been able to track emissions in real time in its headquarters (HQ) in Barcelona and its two Barcelona manufacturing facilities. In just the past year the company has been able to reduce its HQ emissions by 18%. The data from this software is being used to identify the main greenhouse gas impacts along the value chain to start implementing meaningful measures to reduce emissions.