Technology

Covestro publishes climate neutrality targets for scope 3 emissions

Published

2 years ago

February 29, 2024

Reduction of 10 million metric tons of greenhouse gases produced in upstream and downstream supply chains (scope 3) by 2035, climate neutrality for scope 3 by 2050 Climate strategy for reducing greenhouse gases complete Concrete plan for implementation to reduce emissions, transformation along the entire supply chain required

LEVERKUSEN, Germany, Feb. 29, 2024 /PRNewswire/ — Covestro has published its climate neutrality targets for scope 3 emissions, completing its climate strategy for reducing greenhouse gas emissions. As a short-term goal, the company plans to reduce greenhouse gases by 10 million metric tons by 2035. This corresponds to a drop in emissions of 30 percent compared to the base year 2021, with some growth-related emissions through 2035 included in the calculation. In the long-term, Covestro plans to be climate-neutral in terms of scope 3 emissions by 2050.

Covestro previously published ambitious targets for scope 1 and scope 2 emissions in 2022, which included achieving operational climate neutrality by 2035. Scope 1 emissions come from Covestro’s own production processes, while scope 2 emissions result from purchased energy sources. Scope 3 emissions include all other greenhouse gases produced in the upstream and downstream supply chains. These make up around 80 percent of the company’s total greenhouse gas emissions. Raw materials purchased by Covestro are responsible for the greatest share of scope 3 emissions.

Reducing scope 3 emissions will require a transformation of the entire supply chain. A variety of factors influence one another – including the availability of alternative raw materials, renewable energies, technological advancements and new processes, as well as market transformations – and play a key role in this process. To achieve net zero emissions, Covestro expects to make targeted investments amounting to several hundred million euros over the next 10 years.

“Our Scope 3 targets are both ambitious and realistic supported with aconcrete implementation plan. This is an essential building block of our climate strategy. Completing our climate neutrality targets is another major milestone in aligning all of our activities with our vision of becoming fully circular. In this way, we are demonstrating once again that we take a leading role in transforming the chemical industry,” says Dr. Markus Steilemann, CEO of Covestro.

Four levers for achieving our target and reducing scope 3 greenhouse gases

In its climate strategy, Covestro is concentrating on four scope 3 categories in the short to medium term1. By managing these four categories, which together make up 21.3 million tons of greenhouse gases per year (as of 2021), Covestro will be able to reduce scope 3 emissions by 10 million metric tons by 2035. To do so, Covestro has identified four key levers. Projects related to these are already ongoing, with additional concrete implementation measures to follow.

“Calculating scope 3 emissions is challenging for us as a chemical company. This is because such emissions are generated both upstream, when we purchase raw materials and downstream, after we sell our products. Because of this, measures to reduce scope 3 emissions impact our suppliers as well as our customers and will require a transformation of the entire supply chain,” explains Dr. Torsten Heinemann, Head of Innovation and Sustainability at Covestro. “Through innovation, cooperation with our partners along the supply chain, and a detailed plan of action involving all four levers, we will achieve our scope 3 targets,” Heinemann continues.

The first lever requires suppliers to reduce their scope 1 and scope 2 emissions. Many of Covestro’s raw material suppliers have already defined their own scope 1 and scope 2 targets, which in turn can count towards Covestro’s scope 3 targets. Covestro is continuing its discussions with its suppliers on this issue, for example during a scope 3 supplier event the company will hold on March 4, 2024. Additionally, the company recently executed a long-term supplier agreement for chemically recycled raw materials with Encina. The January 2024 agreement covers the supply of raw materials produced from end-of-life plastics, which reduce Covestro’s scope 3 emissions. Other important short-term changes include, for instance, electrification, improving efficiency, and carbon capture and storage (CCS) in supplier production processes.The second lever is the profitable sale of products made from alternative raw materials. Covestro already has circular solutions in its product portfolio under the CQ (circular intelligence) label. CQ products are made of at least 25 percent alternative, non fossil-based raw materials.Covestro’s third lever to reduce scope 3 emissions are its MAKE projects. These are investment projects in which Covestro manufactures alternative raw materials with a smaller carbon footprint. These projects include, for instance, manufacturing bio-based aniline or using proprietary recycling technologies to make it possible to use recycled raw materials. Another example of a MAKE project is Covestro’s Evocycle CQ technology, which is used to recycle mattresses.The fourth lever encompasses a large number of different factors that help to reduce scope 3 emissions. These include, for instance, increasing recycling rates to reduce emissions from waste incineration, and changes to logistics and primary energy extraction. In addition, Covestro will accelerate innovation processes through digital research and development and artificial intelligence.

Climate neutrality can only succeed through close cooperation along the entire supply chain. Covestro’s scope 3 climate neutrality targets are an important part of this and will be implemented alongside customers and suppliers.

About Covestro:

Covestro is one of the world’s leading manufacturers of high-quality polymer materials and their components. With its innovative products, processes and methods, the company helps enhance sustainability and the quality of life in many areas. Covestro supplies customers around the world in key industries such as mobility, building and living, as well as the electrical and electronics sector. In addition, polymers from Covestro are also used in sectors such as sports and leisure, telecommunications and health, as well as in the chemical industry itself.

The company is geared completely to the circular economy. In addition, Covestro aims to achieve climate neutrality for its Scope 1 and Scope 2 emissions by 2035, and the Group’s Scope 3 emissions are also set to be climate neutral by 2050. Covestro generated sales of EUR 14.4 billion in fiscal year 2023. At the end of 2023, the company had 48 production sites worldwide and employed approximately 17,500 people (calculated as full-time equivalents).

You can find more information on the Covestro Homepage.
You can also read our Corporate Blog.
Follow us on the Covestro social media channels:
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https://www.linkedin.com/company/covestro

Forward-looking statements

This press release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG management. Various known and unknown risks, uncertainties, and other factors could lead to material differences between the actual future results, financial situation, development, or performance of the company and the estimates provided here. These factors include those discussed in Covestro’s public reports. These reports are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

1 Raw materials (part of category 3.1); end-of-life (EoL) handling (category 3.12); fuel and energy-related (category 3.3); upstream transportation (category 3.4)

Contact
Russell Glorioso
Telephone
+1 724 799 0321
E-mail
Russell.Glorioso@
covestro.com

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SOURCE Covestro

Technology

AdaKami Contributes to National Dialogue on Strengthening Fraud Risk Management

Published

14 minutes ago

April 24, 2026

JAKARTA, Indonesia, April 24, 2026 /PRNewswire/ — The continued rise in digital fraud highlights increasing risks to consumer protection and the sustainability of Indonesia’s digital financial ecosystem. Data from Indonesia Anti-Scam Centre (IASC) under the Financial Services Authority of Indonesia (OJK) recorded over 432,000 digital fraud reports between November 2024 and January 2026, with total losses reaching approximately IDR 9.1 trillion.

In response, AdaKami, a licensed fintech lending platform by OJK, continues to strengthen its fraud risk management framework through enhanced technology capabilities, ongoing user education, and collaborations with stakeholders.

This was reflected at the Executive Policy Collaborative Forum on Handling Digital Fraud and Scams, organized by The Indonesian Digitalization and Cybersecurity Association (ADIGSI) which brought together regulators, cybersecurity authorities, and industry associations including IASC OJK, the National Cyber and Crypto Agency (BSSN), the Indonesia Fintech Lending Association (AFPI), and the Indonesia Fintech Association (AFTECH). The forum underscored the importance of coordinated efforts to strengthen fraud prevention and reinforce the anti-scam governance ecosystem.

Alongside industry and regulatory stakeholders, AdaKami reiterated its commitment and efforts to strengthen fraud prevention, by integrating technology, education, and collaboration as core pillars of consumer protection.

“Fraud and digital scams have evolved into a systemic challenge that requires coordinated action across regulators, industry, and stakeholders,” said Hudiyanto, Head of Secretariat of IASC OJK.

Karissa Sjawaldy, Chief of Public Affairs AdaKami, added: “AdaKami remains committed to strengthening consumer protection by enhancing technology-driven security systems, reinforcing user education, and maintaining close collaboration with regulators and industry partners.”

AdaKami continues to strengthen its security infrastructure through technology advancement, including AI, machine learning, and big data, to protect users on the platform and mitigate cyber threats. Concurrently, AdaKami recognizes the importance of user awareness in reducing fraud risks. Through ongoing educational initiatives such as the #SelaluWaspada campaign, AdaKami educates users to stay vigilant against evolving fraud schemes, including safeguarding personal information, recognizing common fraud tactics, and engaging only through official verified channels.

AdaKami remains focused on strengthening risk management, enhancing consumer trust, and supporting a more resilient digital financial ecosystem in Indonesia.

***

About AdaKami

Established in 2018, AdaKami is a licensed fintech lending platform in Indonesia, operated by PT Pembiayaan Digital Indonesia and supervised by OJK. AdaKami provides accessible financing through technology-driven, fast, and reliable services, bridging the gap between traditional financial institutions and underserved communities. More information: www.adakami.id

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Technology

RWA.LTD Announces Comprehensive Consumer Goods Token Ecosystem Layout at Hong Kong Web3 Festival, Leading the Launch of the Consumer RWA Alliance

Published

1 hour ago

April 24, 2026

HONG KONG, April 24, 2026 /PRNewswire/ — During the Hong Kong Web3 Festival, RWA.LTD, the world’s first platform dedicated to consumer goods RWA (Real World Assets), officially announced the completion of its comprehensive consumer goods token ecosystem layout. At the event, the platform spearheaded the unveiling of the “Consumer RWA Alliance”. Positioned as the “Asian Consumer Goods Asset Trading Center,” RWA.LTD aims to enhance consumption efficiency through AI, reconstruct value distribution via Web3, and connect cross-city and cross-country consumer networks through tokens to accelerate the arrival of the “Smarter Consumer” era.

RWA.LTD stated that consumer goods RWA is not a single product, but a set of new infrastructure developed around consumption scenarios, the circulation of consumer rights, and brand interaction. Since CEO Fu, Rao Tony first proposed the concept of “Consumer Goods RWA” in late 2024, the team simultaneously prepared the RWA.LTD platform and completed Beta testing in September 2025. Following several months of iteration, the platform completed a comprehensive upgrade in mid-March 2026, marking RWA.LTD’s formal transition from the proof-of-concept stage to the ecological development stage.

RWA.LTD Ecosystem

In this public announcement, RWA.LTD systematically disclosed its four major ecological sectors for the first time. First, RWA.LTD | Mall (Winpoint Mall) was officially launched during the Hong Kong Web3 Festival, providing consumers with diverse brand rights driven by RWA Coin; current offerings include the CDAA (Chartered Digital Asset Analyst) Course, Matrix E-commerce Services, and more. Second, RWA.LTD | Exchange was fully launched in mid-March 2026 as a primary issuance and secondary trading market for consumer goods tokens, with plans to list 100 types of consumer goods tokens within the year to provide bidirectional exposure for brands and users. Third, RWA.LTD | Fund plans to collaborate with established VC funds to focus on brand token ecosystem construction and explore new paths for the synergistic development of consumer brands and on-chain capital. Fourth, RWA.LTD | Bot (rwaclaw.ai, rwabot.ai) has completed domain layout and is currently under development; it will provide consumers with real-time AI price comparisons, intelligent recommendations, and automated ordering tools to enhance decision-making efficiency and consumer experience.

RWA.LTD believes that the traditional consumer market has long suffered from information asymmetry, price opacity, and inactive membership systems, while the combination of blockchain and AI provides a new consumption model. By standardizing, digitizing, and placing consumer rights on-chain, consumers are no longer just end-buyers but can become active participants in the consumption network; brands are no longer limited to one-time interactions with consumers but can build stable, sustainable consumer relationships through on-chain tools.

Consumer RWA Alliance

At the Hong Kong Web3 Festival, the Consumer RWA Alliance, spearheaded by RWA.LTD, was inaugurated. The alliance aims to unite consumer brands, channel platforms, technology service providers, ecological partners, and cross-regional resource providers to jointly promote the co-construction of standards, ecological synergy, and scenario implementation for consumer goods RWA. The alliance members attending the unveiling ceremony included Dr. and Professor Lawrence Yu, Founder and Chairman of the Asia Pacific Economic Leaders’ Confederation; Dr. Wang Ping, President of the RWA Ecological International Federation and Chairman of the Asia Pacific M&A Fund; Dou Jun, Secretary General of the Hong Kong RWA Global Industry Alliance and Executive Secretary General of the Blockchain Professional Committee of the China Communications Industry Association (CCIA); Dr. Yu Jianing, Principal of Uweb Business School (Hong Kong) and Rotating Chairman of the Academic Committee of the Hong Kong Certified Digital Asset Analysts Association (HKCDAA); Dr. Jingle, Founder of Hong Kong Meta Strategy; Dr. Qiu Yueying, CEO of Winchain Technology; Tongjian Sun, CEO of INOVAI TECH K.K.; and Wen Hua, Director of the Australia & New Zealand Center of the Hong Kong RWA Global Industry Alliance, with RWA.LTD CEO Fu, Rao Tony serving as the Chairman. The establishment of the alliance marks an important step for consumer RWA moving from platform exploration to industry collaboration, signifying that the RWA narrative is extending from the relatively singular field of financial assets to the consumer industry which is more closely related to real life.

Industry insiders pointed out that the establishment of the Consumer RWA Alliance holds industry significance beyond platform business. On one hand, it helps break the market’s inherent impression of RWA as being “over-financialized” and encourages the outside world to re-recognize the application value of RWA as digital infrastructure in real consumption scenarios. On the other hand, it provides a new organizational framework for the Asian consumer market, making cross-regional brand cooperation, mutual recognition of consumer rights, and on-chain circulation mechanisms more operational. RWA.LTD stated that it hopes to promote the formation of a more diverse, open, and sustainable RWA world through the alliance mechanism, making RWA not just a synonym for asset securitization, but also a key driver for consumer innovation and industrial upgrading.

Regarding compliance issues of market concern, RWA.LTD provided a brief explanation in this announcement. Consumer goods tokens do not fall within the definition of “virtual assets” under Section 53ZRA of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO), as they are neither payment tokens nor governance tokens. Even if there is overlap in certain characteristics, the relevant tokens can ultimately be defined as “Limited Purpose Digital Tokens” under Section 53ZR of the AMLO, which are explicitly excluded from the scope of “virtual asset” in the AMLO. Based on this, RWA.LTD does not fall within the regulatory scope of the Virtual Asset Trading Platform (VATP) licensing regime. Meanwhile, the U.S. SEC’s previous No-Action Letter to the Fuse project, along with the definition of “Digital Tools” in the regulatory interpretation published on March 17, 2026, further supports the stance that consumer goods tokens are non-securities, non-commodities, and are not regulated under the virtual asset framework. RWA.LTD emphasized that the company consistently adheres to advancing product design and business development within a compliance framework and will continue to monitor regulatory dynamics in different jurisdictions.

The RWA.LTD team possesses a rich international background and overseas market experience, having long followed the development trends of the Web3 and RWA markets in Europe and the United States. The team observed early on that the Asian RWA market has long been concentrated on financial narratives with relatively monotonous scenarios, and platforms that truly integrate deeply with mass consumption and high-frequency lifestyle scenarios remain scarce. Consequently, the team began preparing the consumer goods RWA platform as early as 2024, hoping to take the lead in completing infrastructure, model verification, and resource integration before an industry consensus was formed.

RWA.LTD CEO Fu, Rao Tony pointed out that consumer goods RWA is currently one of the directions most likely to land and scale quickly. Compared to financial RWA, consumer goods RWA has a stronger efficient foundation in terms of compliance structure, user understanding, scenario adaptation, and promotion paths. Its core value lies in using blockchain technology to release liquidity that the consumer industry has long lacked, allowing consumer rights—which were originally fragmented, dormant, non-tradable, or difficult to circulate across regions—to achieve more efficient allocation and redistribution. Through this mechanism, the relationship between brands, platforms, and consumers will be redefined.

Fu, Rao Tony further stated that as the digitalization of the Asian consumer market continues to improve, the combination of consumer RWA and the real consumer industry is expected to release trillion-dollar economic potential in the future. For Hong Kong, this is not just an emerging Web3 track, but could become an important hub connecting international consumer networks with digital asset innovation. Hong Kong possesses unique advantages as an international financial center, an international trade center, and a highland for institutional innovation. If it can take the lead in forming scale synergy in the field of consumer RWA, it has the opportunity to occupy a leading position in the global wave of consumer asset digitalization.

In the future, RWA.LTD will continue to advance its layout around consumer goods RWA infrastructure construction, ecological cooperation expansion, alliance network improvement, and AI consumer tool research and development, exploring new on-chain paradigms for the consumer industry with more brands, institutions, and partners. As the Mall, Exchange, Fund, and Bot sectors gradually mature, RWA.LTD hopes to drive consumer RWA from concept to large-scale application, providing a more efficient, intelligent, and participatory new value network for the Asian and global consumer markets.

About RWA.LTD

RWA.LTD is positioned as the Asian consumer goods asset trading center, committed to enhancing consumption efficiency with AI, reconstructing consumer value distribution with Web3, and establishing cross-city and cross-country consumer alliance networks via tokens. The company focuses on the consumer goods RWA track, continuously promoting the digitalization of consumer rights, the circulation of consumer assets, and the synergy of the consumer ecosystem to explore the future consumption model of “Smarter Consumer”.

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SOURCE RWA.LTD

Technology

Fox ESS Ranks No. 1 Globally in Residential Energy Storage

Published

2 hours ago

April 24, 2026

WENZHOU, China, April 23, 2026 /CNW/ — Fox ESS, a global leader in renewable energy solutions, has been ranked No. 1 among residential energy storage providers worldwide for 2025, based on MWh shipments in S&P Global Energy’s Residential Energy Storage Market Tracker.

The report also places Fox ESS at No. 1 in Germany and the UK, highlighting the company’s momentum in key markets and expanding distribution footprint.

Compared with 2024, Fox ESS’s global market share rose 50% in 2025, reinforcing its position in a rapidly growing residential storage sector. The company has continued to scale internationally, with global headcount doubling from the end of 2024. As of April 2026, Fox ESS employs more than 5,000 people worldwide, and has added local support through new offices, including in Sydney, Australia.

“We’re thrilled for this remarkable achievement. It reflects our commitment to innovation and product quality, and to making clean, reliable energy practical for households around the world,” said Michael Zhu, CEO of Fox ESS. “We will continue pushing the boundaries to deliver solutions that help homes and businesses move toward energy independence.”

Notably, Fox ESS has launched the Champion’s Choice campaign globally, combining the endorsement of sports champions with recognition from prestigious organizations. With the first stop in Australia, the company signed Ian Thorpe, a five-time Olympic champion last December. The campaign underscores Fox ESS’s ambition to deliver better value for customers and partners.

Fox ESS is committed to building long-term trust with customers and partners. The company delivers reliable, high-quality energy storage systems engineered for consistent performance, supported by rigorous quality-control processes designed to help ensure every product meets the highest standards.

Fox ESS develops solutions that serve both installers and end users. With ongoing investment in R&D, the company stays ahead of evolving market needs, helping installers work more efficiently while enabling homeowners to move toward energy transition and reduce electricity costs.

With a team of more than 400 experts in R&D, Fox ESS continues to refine its product design for easier transportation, installation, and everyday use. The AI-powered FoxCloud app also makes energy management more intuitive, enabling users to monitor and control home energy consumption, manage smart devices, and track detailed generation and usage data in a single streamlined platform, delivering greater peace of mind.

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SOURCE Fox ESS