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Ant Group Targets Carbon Neutrality by 2030

By Ding Yi / Mar 15, 2021 06:08 PM / Environment

Alibaba’s fintech arm Ant Group has announced plans to become carbon neutral by 2030, following a government call for companies to use advanced technologies to reduce emissions.

Ant Group will set up a fund to fund research and development of renewable energy and other green technologies, and will explore ways to use emerging blockchain technology to track its carbon reduction process in order to reach the proposed target, the company said in a statement released on Friday.

In a separate WeChat post issued the same day, Hangzhou-based Ant Group said that it will modify its existing buildings to raise their energy efficiency level and construct new facilities in accordance with China’s green building standards in efforts to meet its 2030 goal.

Meanwhile, an incentive mechanism will be established to encourage employees to follow low-carbon work practices, and technologies like liquid cooling will be used to reduce emissions in its data centers, Ant Group said in the WeChat post.

In September last year, Chinese President Xi Jinping pledged that China would reach peak carbon emissions by 2030 and carbon neutrality by 2060.

Besides Ant Group, many other companies, especially those in the tech sector, have also promised to contribute to the realization of the Chinese government’s environmental goals.

In January this year, internet giant Tencent unveiled plans to use its artificial intelligence and cloud computing technologies to reduce carbon emissions in its office buildings and data centers.

Contact reporter Ding Yi (yiding@caixin.com)

Related: China’s Iron Ore Futures Sag on Steel Curbs, Carbon-Cutting Worries


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