Wallbox Commits to Company-Wide Net Zero Greenhouse Gas Emissions Goal by 2030

Rhea-AI Summary

Wallbox (NYSE:WBX) aims to achieve Net Zero greenhouse gas emissions by 2030, nearly 20 years ahead of the Paris Climate Agreement goals. The company has implemented a three-phase plan, starting with measuring and beginning to reduce its emissions, which totaled 110 tons in 2021. Last year, Wallbox reduced emissions from its headquarters by 18% through solar installations and energy management solutions. The firm plans to sign the Global Compact and pursue UN Sustainable Development Goals.

Positive

• Goal to achieve Net Zero emissions by 2030, ahead of Paris Agreement.
• Reduced headquarters emissions by 18% through sustainable practices.
• Comprehensive three-phase plan to measure and decrease emissions.
• Utilizes proprietary energy management software for real-time tracking.

Negative

• None.

Wallbox to reduce its global climate impact and exceed Paris Climate Agreement goals by almost two decades

BARCELONA, Spain--(BUSINESS WIRE)-- Wallbox (NYSE:WBX), a leading provider of electric vehicle (EV) charging and energy management solutions worldwide, today 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

• 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. You can learn more about Wallbox’s NetZero journey here.

About Wallbox Chargers
Wallbox is a global company, dedicated to changing the way the world uses energy in the electric vehicle industry. Wallbox creates smart charging systems that combine innovative technology with outstanding design and manage the communication between vehicle, grid, building and charger. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public and public use in more than 98 countries. Founded in 2015, with headquarters in Barcelona, Wallbox’s mission is to facilitate the adoption of electric vehicles today to make more sustainable use of energy tomorrow. The company employs over 900 people in Europe, Asia, and the Americas. For additional information, please visit www.wallbox.com.

Wallbox Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding Wallbox’s goal to achieve Net Zero greenhouse gas emissions by 2030, its three phase plan to achieve that goal, its plan to offset residual emissions only where it cannot reduce greenhouse gas emissions any further through other means and its intentions regarding the Global Compact and US’s Sustainable Development Goals. . In some cases, you can identify forward-looking statements by terminology such as "anticipate," "believe," "may," "can," "should," "could," "might," "plan," “goal,” "possible," "project," "strive," "budget," "forecast," "expect," "intend," "will," "estimate," "predict," "potential," "continue" or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that statement is not forward-looking. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements.

These forward-looking statements are based on management’s current expectations and beliefs. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause Wallbox’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: Wallbox’s history of operating losses as an early stage company; the adoption and demand for electric vehicles including the success of alternative fuels, changes to rebates, tax credits and the impact of government incentives; Wallbox’s ability to successfully manage its growth; the accuracy of Wallbox’s forecasts and projections including those regarding its market opportunity; competition; energy and fuel prices; technological innovations; legislative and regulatory changes; risks related to health pandemics including those of COVID-19; losses or disruptions in Wallbox’s supply or manufacturing partners; Wallbox’s reliance on the third-parties outside of its control to perform; the compliance of various third parties with Wallbox’s policies and procedures and legal requirements; risks related to Wallbox’s technology, intellectual property and infrastructure; Wallbox’s ability to successfully implement various initiatives throughout our company and full value chain under expected time frames; Wallbox’s ability to gather and verify data regarding environmental impacts and emissions; risks related to the Russia-Ukraine War, and other important factors discussed under the caption "Risk Factors" in Wallbox’s final prospectus on Form 424(b)(3) filed with the SEC on November 12, 2021, as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Wallbox’s website at investors.wallbox.com.

These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statement that Wallbox makes in this press release speaks only as of the date of such statement. Except as required by law, Wallbox disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20220505005544/en/

Wallbox Public Relations Contact

Elyce Behrsin

Public Relations

Press@wallbox.com

+34 622 513 358

Source: Wallbox

FAQ

What is Wallbox's goal regarding greenhouse gas emissions?

Wallbox aims to achieve Net Zero greenhouse gas emissions by 2030.

How much did Wallbox reduce emissions in 2021?

Wallbox's emissions totaled 110 tons in 2021.

What sustainability initiatives has Wallbox implemented?

Wallbox reduced emissions from its headquarters by 18% through solar panel installations.

What is Wallbox's three-phase plan for emissions reduction?

The plan includes impact measurement, emissions reductions, and achieving Net Zero.

Is Wallbox aligned with the Paris Agreement?

Yes, Wallbox's goals exceed the Paris Agreement by nearly two decades.