"Against the backdrop of increasingly severe global climate change, we must take proactive measures to reduce carbon emissions," FinDreams said.

(Image credit: CnEVPost)

BYD's (OTCMKTS: BYDDF) battery manufacturing unit FinDreams Battery has committed to achieving carbon neutrality by 2045, the latest battery maker to announce such a goal.

"Recently, FinDreams unveiled its goal of achieving full value chain carbon neutrality by 2045, which is an important step in our environmental and sustainability efforts and a strong belief in the future application of green energy technologies," the company said in a statement today.

As the world's leading battery manufacturer, FinDreams understands the seriousness of environmental issues, its statement noted.

" Against the backdrop of increasingly severe global climate change, we must take proactive measures to reduce carbon emissions, drive towards sustainable development, and make efforts to improve productivity, reduce energy consumption, and promote renewable energy," FinDreams said.

FinDreams listed a series of measures it is taking to reach its carbon neutrality goal:

Establish a carbon emission management system, set up a carbon emission control committee, set up a carbon emission reduction department, and formulate a system related to carbon emission management.

Gradually promote the use of green electricity in all parks and actively build zero-carbon demonstration parks and factories.

Build a supply chain carbon management platform and collaborate with the supply chain for carbon emission reduction actions.

Develop low-carbon materials and low-carbon processes, promote the gradual utilization of power batteries and the construction of an intelligent recycling system for decommissioned batteries, and create green and low-carbon battery products.

Meanwhile, FinDreams is planning to explore and develop carbon sink projects.

"Realizing carbon neutrality is our common responsibility and mission, and FinDreams will ...... continue to improve the construction of its carbon management system, promote the development of green and low-carbon industries, and actively carry out the research and development of low-carbon products and the promotion of their application," it said.

China announced its carbon reduction targets in September 2020, saying the country would aim to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060.

BYD is the world's second-largest battery maker, with a 15.8 percent share in 2023, according to South Korean market researcher SNE Research. CATL is No. 1 globally, with a 36.8 percent share in 2023.

On April 19, 2023, CATL issued a commitment saying it aims to achieve carbon neutrality in its core operations by 2025 and in its value chain by 2035.

Other Chinese battery players are also working on carbon reduction, with Gotion High-tech (SHE: 002074) announcing on February 20 that it plans to set up a low-carbon technology institute in Hong Kong.

BYD achieves zero carbon emissions in industrial park at Shenzhen headquarters