#China #Beijing #Carbon Credits #EV Charging #NaaS Technology

NaaS Technology Inc. Achieves Milestone in Carbon Reduction

NaaS Technology Inc., the first U.S.-listed electric vehicle (EV) charging service provider operating in China, has successfully completed the nation’s inaugural transaction for carbon emission reduction credits within the electric vehicle charging sector. Announced on January 30, 2025, this landmark achievement came in collaboration with Hubei Zhongtan Asset Management Co., Ltd., leading to the sale of 1,962 tons of carbon reductions derived from increased EV charging adoption.

This achievement carries significant implications for sustainable mobility solutions in China, demonstrating the capacity of carbon credits to advance the environmental goals of businesses and consumers alike. Since its inception in 2021, NaaS has pioneered the integration of carbon reduction strategies into its EV charging operations, including the launch of an industry-first EV charging carbon accounting system. This innovative platform allows EV users to track and redeem carbon points earned through their charging activities, thereby encouraging participation in environmental initiatives.

The carbon emission reductions sold—totaling 1,962 tons—were generated between September 24 and October 29, 2024, through collaboration with Kuaidian, a strategic partner of NaaS. Through the Kuaidian app and associated mini-programs, users can manage their accounts to support green mobility efforts. By engaging in this initiative, users not only accumulate carbon reduction points—redeemable for benefits like discounts on charging fees—but also contribute to a self-sustaining ecosystem that bolsters motivation for climate-friendly practices.

As of June 30, 2024, more than 800,000 users had adopted NaaS's carbon accounting system, underscoring the platform's leading role in promoting environmental sustainability within the EV sector.

Ms. Yang Wang, the Chief Executive Officer of NaaS, highlighted the significance of this transaction, stating, "Executing this inaugural transaction validates the market potential of carbon credits generated from EV charging for our customers. By leveraging our scalable platform and forming key partnerships, we are not only enhancing our business growth but also taking active measures against climate change."

Looking to the future, NaaS is committed to furthering its carbon reduction initiatives and accelerating the transition to greener mobility solutions in China. With the rising importance of carbon credits in EV charging, the company is positioned to lead the charge for transportation decarbonization and support China's overarching carbon neutrality targets.

About NaaS Technology Inc.

NaaS Technology Inc. operates as a subsidiary of Newlinks Technology Limited, specializing in providing comprehensive energy solutions and services related to EV charging. The company supports energy asset owners through every phase of the lifecycle of their energy assets, fostering the transition to sustainable energy practices.

Looking Ahead

As the EV market continues to evolve, NaaS's innovative approach to integrating sustainability into its business model may serve as a blueprint for other companies aiming to contribute to environmental goals while ensuring business viability. As global demand for sustainable practices grows, initiatives such as those embarked upon by NaaS Technology Inc. will likely become increasingly vital in shaping the future of transportation and energy use in China and beyond.