Business Wire

Alibaba Group Announces Carbon Neutrality Goal by 2030

Share

Alibaba Group Holding Limited (NYSE: BABA and HKEX: 9988, “Alibaba” or “Alibaba Group”) today announced a pledge to achieve carbon neutrality in its own operations by 2030 and introduced a Scope 3+ target, a pioneering initiative aiming to facilitate 1.5 gigatons of decarbonization across its business ecosystem by 2035. Details about its goals, including thinking and definition of the newly introduced concept of Scope 3+, are shared in the inaugural Alibaba Carbon Neutrality Action Report. Alibaba aims to provide updates annually with progress verified by accredited auditors.

“We aspire to be a force for positive, innovative change in society. Our ESG strategy is predicated on our mission to be a good company that will live for 102 years and it is the vital foundation for Alibaba's future development,” said Daniel Zhang, Chairman and CEO of Alibaba Group. “We will leverage our unique influence as a platform operator to mobilize actions and behavioral changes among consumers, merchants and partners in China and around the world with our newly proposed Scope 3+ target of reducing 1.5 gigatons of carbon emissions by 2035.”

Carbon Neutrality Roadmap

Alibaba Group is committed to carbon neutrality for Scope 1 and 21 emissions by 2030, and has set a 50% carbon intensity reduction target for Scope 32 by 2030 using 2020 levels as baseline. Alibaba Cloud will bear responsibility for a higher Scope 3 target and aims to achieve carbon neutrality by 2030 in all three scopes.

Alibaba Group has committed to join the Science Based Targets initiative (SBTi), and has aligned its decarbonization measures and strategy with the “Business Ambition for 1.5°C” pledge, a critical target to avoid the catastrophic impacts of climate change as outlined by the 2015 Paris Agreement.

Alibaba will adopt a systematic and science-based approach to plan and manage decarbonization initiatives. It includes leveraging energy-saving and efficiency-improving technologies to reduce emissions; actively transforming the energy structure with progressive use of renewables; and exploration of carbon removal initiatives. As a general principle, the company prioritizes carbon reduction over removal, and removal over offset.

Pioneering “Scope 3+” Aspiration

In addition, as a global leading platform company, Alibaba is committed to taking greater responsibility to pioneer the concept of “Scope 3+,” which refers to the emissions generated by a broader range of participants in the platform's ecosystem, currently outside of the Scopes 1, 2, and 3. It has initiated the “1.5 Gigatons for 1.5°C” project, committing to facilitate 1.5 gigatons of decarbonization in its ecosystem by 2035.

“We believe the use of digital platforms can play a significant role in empowering a low carbon circular economic model that can lead to achieving the 1.5-degree target of the Paris Agreement. The concept of ‘Scope 3+’ is based on the potential of leveraging our digital platforms to influence and advocate for low carbon products, services and behavior among a wider group of stakeholders in our ecosystem, and share our energy-efficient technologies and innovative business tools with customers and business partners to reduce the carbon footprint together,” said Dr. Chen Long, Vice President of Alibaba Group and Chair of Alibaba’s Sustainability Steering Committee.

Alibaba will continue to improve its carbon reduction measurement and metrics in Scope 3+ by working and partnering with leading expert organizations globally.

Dedicated ESG Governance Body

Alibaba also announced today a new three-tier ESG governance framework to oversee, enable and support the achievement of its carbon neutrality targets and broader ESG goals. The dedicated ESG governance body includes:

  1. A Sustainability Committee at the board level chaired by Jerry Yang, an independent director. Other board members include Walter Teh Ming Kwauk, Joe Tsai and Maggie Wu
  2. A Sustainability Steering Committee responsible for strategic planning, goal setting and management
  3. An ESG cross-business action group consisting of representatives from each business unit at the working level responsible for coordination and execution

Meanwhile, Alibaba aims to continue to improve information and data disclosure and reporting mechanism. Starting in 2022, Alibaba will aim to release its ESG report annually, in which concrete and specific annual progress will be included. All reports will adhere to the most reputable metrics laid out in domestic and international standards and will be verified by accredited auditors.

Notes to the editor

Additional quotes from industry analysts are available on request.

About Alibaba Group

Alibaba Group's mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba, and that it will be a good company that lasts for 102 years.

1Scope 1 emissions are direct greenhouse (GHG) emissions that occur from sources that are controlled or owned by an organization (e.g., emissions associated with fuel combustion in boilers, furnaces, vehicles). Scope 2 emissions are indirect GHG emissions associated with the purchase of electricity, steam, heat, or cooling.
2Scope 3 emissions are the result of activities from assets not owned or controlled by the reporting organization, but that the organization indirectly impacts in its value chain.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Media Contacts
Luica Mak
Alibaba Group
+44 790 547 1332
luica.mak@alibaba-inc.com

Roger Zhang
Alibaba Group
+1 917 558 6457
roger.zhang@alibaba-inc.com

Gabbie Fu
Alibaba Group
+86 15601804303
funi.fn@alibaba-inc.com

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

PAN Finance Names Libertex ‘Global CFD Broker of the Year’29.3.2024 08:25:00 EET | Press release

As the first quarter of 2024 draws to a close, Libertex is thrilled to announce its first accolade of the new year! The established global financial publication PAN Finance has determined Libertex to be the ‘CFD Broker of the Year – Global 2024’ following a rigorous evaluation process conducted by the publication's highly experienced editorial and research teams. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240328235325/en/ (Graphic: Libertex) PAN Finance is a trusted source of global financial intelligence with an impressively wide readership across 150 countries. Its ecosystem includes a quarterly magazine, special reports, a news website, and various social media channels. As an organisation, PAN Finance is committed to providing concise, intelligent, and up-to-date news for a worldwide readership of specialists spanning the entire finance industry. The company's awards programme aims to serve as a true indicator of exc

Midea Group releases its first-ever ESG brand story with an unexpected VIP visit highlighting its commitment to sustainability.29.3.2024 04:39:00 EET | Press release

Midea Group: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240328526418/en/ Background: Midea Group, a leading global technology group, recently released its 2023 Environmental, Social, and Governance (ESG) Report with ambitious sustainable development goals set for 2030. They include achieving over 500 megawatts of photovoltaic power generation, reducing greenhouse gas emission intensity (scopes 1 and 2) by 0.040, secure Energy Management System Certification for 50 factories, and achieve 100% carbon footprint accounting for major categories of smart home appliances. This is aligned with the Sustainable Development Report Standards of the Global Report Standards of the Global Reporting Initiative (GRI). The new report and campaign focuses on four dimensions: Protect the Blue Planet, Build a Harmonious Community, Practice 'Bring Great Innovations to Life', and Jointly Create the Prosperous Ecology. The campaign: Midea’s ESG

DC Secretary Announces Annual Determinations Committees Outcome28.3.2024 23:14:00 EET | Press release

DC Administration Services, Inc. has today announced the composition of five regional Determinations Committees (DCs), effective from April 27, 2024. Voting Dealers (for all regions): Voting Non-Dealers (for all regions): Bank of America N.A. Citadel LLC Barclays Bank plc Elliott Management Corporation BNP Paribas Pacific Investment Management Company LLC Citibank, N.A. Deutsche Bank AG Goldman Sachs International JPMorgan Chase Bank, N.A. Voting Dealer for the Americas, EMEA, AEJ, and Japan Determination Committees: Mizuho Securities Co., Ltd. The process for selecting DC members is specified in the DC rules. The DC rules, along with more information about the Determinations Committees and what they do can be found at the Determinations Committees website: https://www.cdsdeterminationscommittees.org/. View source version on businesswire.com: https://www.businesswire.com/news/home/20240328441002/en/ Contact information Press Inquiries: Orlando Figueroa orlando.figueroa@citadelspv.com

Faster Recoveries, Improved Security: HTEC and G2 Risk Solutions Join Forces to Advance Bankruptcy Management28.3.2024 19:02:00 EET | Press release

HTEC, a global digital consulting, software engineering, and product development company, is announcing a strategic collaboration with G2 Risk Solutions (G2RS), the preeminent provider of end-to-end bankruptcy technology solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240328622816/en/ HTEC & G2 Risk Solutions Partnership (Photo: Business Wire) Under the agreement, G2RS will engage HTEC to incorporate its leading-edge technology into G2RS’ premier bankruptcy management platform. As the creators of the most comprehensive national bankruptcy database and the first bankruptcy management portal, G2RS is an industry pioneer. By adding HTEC’s premium engineering to the G2RS technology stack, G2RS will offer new and innovative functionalities to help clients expedite financial recoveries, increase data protection, and reduce operational inefficiencies in the bankruptcy management life cycle. “We are thrilled to be a part o

LambdaTest Launches The Phoenix Project, an Employee Resource Group for Women28.3.2024 18:00:00 EET | Press release

LambdaTest, a leading cloud-based unified testing platform, announced the launch of The Phoenix Project, an Employee Resource Group (ERG) dedicated to supporting and promoting the success of its female employees. “LambdaTest is committed to fostering a diverse, inclusive, and equitable workplace where all employees feel valued and empowered to reach their full potential,” said Chandini Chopra, VP of People and Culture at LambdaTest. “The Phoenix Project is a critical step towards achieving this goal by providing a platform for professional development, networking, and mentorship, especially for our women employees.” The Phoenix Project Aims To: Offer professional development workshops, networking opportunities, and dedicated time off for women to participate in ERG initiatives. Provide mentorship programs connecting senior female employees with mentees. Promote leadership development among women within the company. Create a sense of community for women in the workplace. Leadership and

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
HiddenA line styled icon from Orion Icon Library.Eye