Lately, NaaS (NASDAQ: NaaS) released its 2022 carbon emissions reduction data: over 1.84 million tons of carbon emissions were reduced in the year, a 106% increase from the previous year, the newly-released financial report of NaaS said.The reduced carbon emissions are equivalent to 70,000 mu (≈46.67 sq km) afforestation. NaaS’ carbon emission initiative applies to the entire new energy charging service chain, ranging from upstream energy supply links, such as renewable energy trading, to midstream links such as energy saving and emissions reduction for charging stations, and downstream links such as incentives to car owners’ carbon emissions reduction.

According to statistics of the Ministry of Public Security, in 2022, China had 417 million motor vehicles, including 319 million automobiles. China is the world’s biggest energy consumer, representing 26.5% of the global total. The carbon emissions from transportation sector accounts for 23% and 10.4% respectively of the total carbon emissions in the world and China, and there is considerable room for emission reduction. Currently, “energy transition” in transport energy is speeding up. In 2022, China’s NEV sales surged 93.4% to 6.887 million vehicles, with penetration of 25.6%; in Q1 2023, China sold 1.586 million NEVs, with a market penetration rate of 26.1%. In 2023, China’s NEV sales will exceed 9 million with penetration of 30%, China Association of Automobile Manufacturers (CAAM) projects.

Focused on new energy, NaaS provides industry solutions to all NEV charging industry chain players. Taking multi-pronged measures of PV combined energy storage charging, BIPV, emissions management, and reasonable utilization of resources, NaaS takes the initiative to promote green sources, green stations and green uses, and contributes to green and low-carbon development of transport energy.

Regarding green energy source, NaaS provides clean energy (photovoltaic, wind power, hydropower) electricity trading services for charging stations. NaaS purchased 393 million kWh of clean energy, accounting for 89.5% of the total electricity purchased.

Regarding green charging station, NaaS is able to provide rooftop distributed photovoltaic construction for charging stations, apply the generated electricity to daily power consumption of charging stations, increase the ratio of clean energy consumption, and help charging stations solve the problem of green energy consumption.

Regarding green power usage, NaaS actively explores user incentives to help extend carbon emission reduction from the industrial side to the consumer side. NaaS's strategic partner Kuaidian has developed a carbon account function for drivers and car owners to encourage users to participate in carbon emission reduction. More than 460,000 people have used the function since its launch in August 2021.

Meanwhile, NaaS focuses on the whole life cycle of new energy charging services, optimizes and improves product quality by detection methods and evaluation methods, and continuously invests in intelligent charging networks, virtual power plants, automatic charging robots and other businesses and products to help with the standardized, intelligent and low-carbon development of EV charging services.

According to its financial report of Q4 2022 and the year of 2022, NaaS, as of March 31, 2023, had connected over 575,000 chargers and covered 55,000 charging stations.  In the first quarter of 2023, charging volume transacted through Company's network reached 1,023 GWh, accounting for 21% of China's public charging volume.