22.4 C
Berlin

Maxeon starts monitoring supplier’s carbon footprint through ESGpedia

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 starts monitoring supplier’s carbon footprint through ESGpedia

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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

You Might Also Like

New research shows power deviation of solar modules reaching 14W, why?

On July 27th, the National Energy Administration released a report on the construction and operation of China’s photovoltaic power generation, showing that in the...

Nine top solar module manufacturers agree on standard module size

On July 7th, nine leading solar module manufacturers joined forces to establish standardized dimensions for rectangular silicon wafer modules, with their consensus set at...

Chinese solar enterprises create trillion worth solar market

China added 87.41 GW of solar in 2022, a year-on-year increase of 59.3%, according to National Energy Administration (NEA). Under the promotion of the...
Join Our Newsletter

Latest Event

Solar Focus | Unlock Vast Solar Power Potential in Indonesia

On June 29, Solarbe will invite experts from S&P Global, JA Solar and other leading players in the Latin American market to discuss the current status and future outlook of the region's solar market.

Latest article

DMEGC Solar Powers Module Production Entirely with 100% Green Energy

Recently, the globally recognized testing and certification body TÜV SÜD granted DMEGC Solar a certification confirming 100% renewable energy consumption and verified greenhouse gas...

Huawei, Sungrow, Solis, Growatt, and GoodWe secure top spots in global inverter shipments in 2022

Global solar photovoltaic (PV) inverter shipments reached a record high in 2022, surpassing 330 gigawatts (GWac), according to a recent analysis by Wood Mackenzie....

LONGi ventures into HPBC Pro cell technology with 12 GW facility

LONGi Green Energy has unveiled plans to invest in its first-ever HPBC pro solar cell facility in Tongchuan, China. This decision reflects LONGi's commitment...

JA Solar set to reach 57 GW n-type cell production capacity by 2023

JA Solar revealed in a recent investor briefing that the company’s n-type solar cell production capacity is expected to reach 57 GW by the...