NaaS Technology Inc. Releases 2023 Environmental, Social and Governance Report

Rhea-AI Summary

NaaS Technology Inc. (Nasdaq: NAAS), the first U.S. listed EV charging service company in China, has released its 2023 Environmental, Social and Governance (ESG) report. The report highlights NaaS's progress towards its long-term ESG goals, including:

- Achieving a carbon emission reduction of 3.29 million tons through new energy charging
- Procuring 305 million kWh of clean energy, accounting for 81.14% of total electricity consumption
- Scoring 60 points in the S&P Global Corporate Sustainability Assessment, ranking in the top 2% globally and second in the industry in China

The report also details NaaS's strategic initiatives in sustainability, technological advancements in autonomous charging solutions, and commitment to sound governance and employee development.

Positive

• Achieved carbon emission reduction of 3.29 million tons through new energy charging
• Clean energy procurement reached 305 million kWh, accounting for 81.14% of total electricity consumption
• Scored 60 points in S&P Global Corporate Sustainability Assessment, ranking in top 2% globally and second in the industry in China
• Upgraded autonomous charging solution with deep learning, V2X, and 3D vision capabilities

Negative

• None.

BEIJING, Aug. 2, 2024 /PRNewswire/ -- NaaS Technology Inc. ("NaaS" or the "Company") (Nasdaq: NaaS), the first U.S. listed EV charging service company in China, today released its 2023 Environmental, Social and Governance report (the "report"). The report outlines NaaS's progress in 2023 toward its long-term ESG goals, central to the Company's vision and mission.

The report details NaaS's strategic initiatives to weave sustainability into various sectors, aligned with its vision to "Empower the World with Green Energy." It features the Company's innovative business model driving energy transitions, efforts toward green and low-carbon development, and strategies to rejuvenate rural areas sustainably. It also spotlights NaaS's recent technological enhancements, particularly its upgraded autonomous charging solution. With the integration of deep learning, vehicle-to-everything (V2X), and 3D vision capabilities, these advances are pivotal in reducing carbon emissions and boosting energy efficiency in mobility systems. Furthermore, it highlights the Company's dedication to sound governance, comprehensive employee development, and active stakeholder engagement, marking a balanced and effective approach to sustainability.

In 2023, NaaS achieved a carbon emission reduction of 3.29 million tons through new energy charging. Our annual clean energy procurement reached 305 million kWh, accounting for 81.14% of our total electricity consumption. Additionally, NaaS participated in the S&P Global Corporate Sustainability Assessment (CSA), scoring 60 points and ranking in the top 2% globally and second within the industry in China.

Ms. Yang Wang, chief executive officer of NaaS, commented, "As we elevate NaaS's role in shaping sustainable energy landscapes, our commitment extends beyond technological innovation. Our aim is to deliver solutions that not only address current energy challenges but also set new standards for environmental stewardship. We are dedicated to nurturing a supportive workplace, fostering industry collaboration and driving progress that advances our company and contributes positively to communities and ecosystems globally."

For more information on the Company's ESG initiatives and to access the complete ESG report in Chinese and English, please visit the ESG section of the Company's investor relations website at https://ir.enaas.com/ESG.

About NaaS Technology Inc.

NaaS Technology Inc. is the first U.S. listed EV charging service company in China. The Company is a subsidiary of Newlinks Technology Limited, a leading energy digitalization group in China. The Company provides one-stop solutions to energy asset owners comprising charging services, energy solutions and new initiatives, supporting every stage of energy asset's lifecycle and facilitating energy transition.

Safe Harbor Statement

This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as "will," "expects," "believes," "anticipates," "intends," "estimates" and similar statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. All information provided in this press release is as of the date hereof, and the Company undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NaaS' goals and strategies; its future business development, financial conditions and results of operations; its ability to continuously develop new technology, services and products and keep up with changes in the industries in which it operates; growth of China's EV charging industry and EV charging service industry and NaaS' future business development; demand for and market acceptance of NaaS' products and services; NaaS' ability to protect and enforce its intellectual property rights; NaaS' ability to attract and retain qualified executives and personnel; the COVID-19 pandemic and the effects of government and other measures that have been or will be taken in connection therewith; U.S.-China trade war and its effect on NaaS' operation, fluctuations of the RMB exchange rate, and NaaS' ability to obtain adequate financing for its planned capital expenditure requirements; NaaS' relationships with end-users, customers, suppliers and other business partners; competition in the industry; relevant government policies and regulations related to the industry; and fluctuations in general economic and business conditions in China and globally. Further information regarding these and other risks is included in NaaS' filings with the SEC.

For investor and media inquiries, please contact:
Investor Relations
NaaS Technology Inc.
E-mail: ir@enaas.com
Media inquiries:
E-mail: pr@enaas.com 

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SOURCE NaaS Technology Inc.

FAQ

What were NaaS Technology's key ESG achievements in 2023?

NaaS Technology achieved a carbon emission reduction of 3.29 million tons through new energy charging, procured 305 million kWh of clean energy (81.14% of total consumption), and scored 60 points in the S&P Global Corporate Sustainability Assessment, ranking in the top 2% globally and second in the industry in China.

How has NaaS Technology (NAAS) improved its charging technology in 2023?

NaaS Technology upgraded its autonomous charging solution by integrating deep learning, vehicle-to-everything (V2X), and 3D vision capabilities, aimed at reducing carbon emissions and improving energy efficiency in mobility systems.

What percentage of NaaS Technology's (NAAS) electricity consumption came from clean energy in 2023?

In 2023, NaaS Technology's clean energy procurement reached 305 million kWh, accounting for 81.14% of its total electricity consumption.

How did NaaS Technology (NAAS) perform in the S&P Global Corporate Sustainability Assessment for 2023?

NaaS Technology scored 60 points in the S&P Global Corporate Sustainability Assessment for 2023, ranking in the top 2% globally and second within the industry in China.