Module manufacturer Maxeon Solar Technologies today announced it has started monitoring supplier sustainability through ESGpedia, a platform designed by Singapore-based tech firm Hashstacs Pte Ltd (‘STACS’).
Maxeon will use the platform to leverage holistic environmental, social, and governance (ESG) data and digital tools to monitor the sustainability performance of its suppliers.
The ESGpedia platform will allow Maxeon to select suppliers based on their emissions and provide greater transparency of its carbon footprint for its stakeholders.
Lindsey Wiedmann, Chief Legal Officer and ESG Executive Sponsor, said: “Companies like Maxeon have a crucial role to play in accelerating the transition to a low carbon world. Thanks to STACS’ ESGpedia platform, we are now able to monitor our carbon footprint and potentially access new funding targeted for sustainable companies. STACS’ ESGpedia platform is also expected to enable financiers and investors to make better green investment decisions, resulting in a positive ESG cycle.”
A typical company’s supply chain accounts for majority of its greenhouse gas (‘GHG’) emissions. Progressively, companies are beginning to address ESG concerns to reduce the GHG emissions of their supply chain, while also improving labour conditions, efficiency and cost savings.
However, there is a profound disconnect between the ESG data that companies need for effective supplier sustainability monitoring and decision-making, and what is available to them.
Sharon Yuen, Chief Commercial Officer at STACS, said: “At STACS, we aim to support the diverse needs of corporates on their journey towards net zero via holistic ESG data and digital tools on ESGpedia.”
Valda Tsang, Director, Global Indirect Sourcing, Supply Chain at Maxeon, said: “Via STACS’ ESGpedia platform we are now able to search for our suppliers’ company profiles digitally, request key ESG and certification data points such as CDP scores and more, to ensure they are meeting their ESG targets and are aligned with our own sustainability commitments.”
As a registry with a reliable record of sustainability certifications and verified ESG data across various sectors, ESGpedia provides corporates like Maxeon, financial institutions, and regulatory authorities a common point of access for holistic ESG data.
This facilitates better tracking and analysis of suppliers’ sustainability commitments, impact measurement, and quelling of greenwashing fears. As an aggregator of the most trusted data underpinning the financial sector’s ESG analyses, this also helps improve the management of ESG financial products, enhancing trust and potentially mobilising the necessary ESG capital for sustainable companies like Maxeon.