Climate Change Data

Maxeon Solar Technologies, Ltd.

Climate Impact & Sustainability Data (2020, 2021, 2022, 2023)

Reporting Period: 2020

Environmental Metrics

Total Carbon Emissions:174,062 tCO2e/year
Scope 1 Emissions:399 tCO2e/year
Scope 2 Emissions:173,335 tCO2e/year
Scope 3 Emissions:328 tCO2e/year
Renewable Energy Share:2.94% of total energy use
Total Energy Consumption:276,044 MWh/year
Water Consumption:4,203,076 m3/year
Waste Generated:11,803 tons/year
Carbon Intensity:160 tCO2e/MWh produced

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Maxeon solar panels are Cradle to Cradle Certified and achieved Declare Label
  • Mexico solar manufacturing facility is certified as Landfill-Free
  • Fleet of five LEED-certified facilities
  • Enabled the avoidance of an estimated 10,147,576 tCO2e in 2020

Social Achievements

  • Supported the community with close to USD $70,000 of total community grants and donations and more than 190 volunteers
  • Total Recordable Incident Rate of 0.63
  • Average Training Hours per employee is 37.4

Governance Achievements

  • Zero incidents of bribery, corruption or other ethical issues
  • All of our manufacturing plants and R&D facilities are certified in ISO 9001: 2015 Quality Management System, ISO45001: 2018 Occupational Safety and Health Management System and ISO14001: 2015 Environmental Management System

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • COVID-19 pandemic's impact on business operations and supply chains.
  • Water scarcity in some operating regions.
Mitigation Strategies
  • Implemented a holistic COVID-19 response, including health and safety policies and community support initiatives.
  • Implemented internal water recycling processes and adhered to local water regulations.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Supplier Sustainability Guidelines, Code of Conduct, Conflict Minerals Policy

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather
Transition Risks
  • Regulatory changes
Opportunities
  • Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI, SASB, UN SDGs

Certifications: ISO 9001:2015, ISO 45001:2018, ISO 14001:2015, LEED

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Maxeon and SunPower brand solar panels

Awards & Recognition

  • 2019 pv magazine Sustainability Award
  • Prime Minister’s Hibiscus Award 2019/2020 (Malaysia)

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:150,303 tCO2e/year
Scope 1 Emissions:580 tCO2e/year
Scope 2 Emissions:149,282 tCO2e/year
Scope 3 Emissions:441 tCO2e/year
Renewable Energy Share:2.22% of total electricity
Total Energy Consumption:240,832 MWh/year
Water Consumption:3,486,450 m3/year
Waste Generated:10,763 tons/year
Carbon Intensity:167 tCO2e per MW produced

ESG Focus Areas

  • Climate Change
  • Diversity & Inclusion
  • Occupational Health and Safety
  • Fair Labour and Human Rights
  • Business Integrity and Ethics
  • Sustainable Innovation
  • Community Investment
  • Employee Engagement
  • Product Quality, Reliability and Safety
  • Circular Economy
  • Water Management
  • Waste Management
  • Energy and Emissions

Environmental Achievements

  • Maintained LEED Gold Certification in Philippines and Mexico facilities.
  • Introduced Maxeon Air System, a disruptive new technology.
  • Completed Energy Payback Time assessment for solar panels (less than a year).
  • Avoided an estimated 8,413,603 tCO2e in 2021 through solar solutions production.

Social Achievements

  • Launched Maxeon Leadership Training Programme (96.5% of leaders completed Module 1).
  • Introduced Career and Development Conversations and Individual Development Plans (IDPs).
  • Won Silver Award in Asia’s Best Sustainability Report (Human Rights) category by Asia Sustainability Reporting Awards (ASRA) 2021.
  • Increased Maxeon volunteering days from 2020.
  • Zero cases of verified non-compliance with human rights laws.

Governance Achievements

  • Identified zero incidents of bribery, corruption, or other ethical issues.
  • Opened new Reliability Testing Lab in Malaysia.
  • Introduced industry-leading 40-year solar panel warranty.

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Improve energy intensity by 20% from 2020 by 2030.
  • Improve water intensity by 5% from 2020 by 2030.
  • Improve waste recycling rate by 20% from 2020 by 2030.
  • Achieve Gold Cradle to Cradle Certification by 2030.
  • Improve emission intensity by 20% from 2020 by 2030.
Short-term Goals:
  • Improve energy intensity by 10% from 2020 by 2025.
  • Improve water intensity by 2.5% from 2020 by 2025.
  • Improve waste recycling rate by 5% from 2020 by 2025.
  • Achieve Silver Cradle to Cradle Certification by 2025.
  • Improve emission intensity by 10% from 2020 by 2025.

Environmental Challenges

  • Global supply chain disruptions due to the pandemic.
  • Decreased MW production output (17% decrease compared to 2020), leading to increased energy and emission intensity.
Mitigation Strategies
  • Implemented energy-efficiency measures (LED lighting, VFDs) in facilities.
  • Leveraged solar energy for operations (rooftop installations, solar-powered golf carts).
  • Increased automation in Mexico facility (90% by 2022).
  • Continued COVID-19 response, including high vaccination rates and strict safety protocols.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Supplier Sustainability Guidelines requiring risk assessments, audits, certifications, training, and accountability and management systems.

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Increased demand for renewable energy.

Reporting Standards

Frameworks Used: GRI, SASB, UN SDGs, UN Global Compact

Certifications: ISO 45001, ISO 14001, LEED Gold (Philippines, Mexico), Cradle to Cradle Certified®

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • SDG 7
  • SDG 10
  • SDG 12
  • SDG 16

Aligned with Maxeon's purpose of Powering Positive Change™.

Sustainable Products & Innovation

  • Maxeon Air System
  • High-efficiency solar panels

Awards & Recognition

  • Silver Award in Asia’s Best Sustainability Report (Human Rights) category by Asia Sustainability Reporting Awards (ASRA) 2021.
  • Distinction Award from Mexican Institute of Social Security (IMSS) for COVID-19 Prevention and Control.

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:240,076.9 tCO2e
Scope 1 Emissions:327.9 tCO2e
Scope 2 Emissions:239,391.1 tCO2e
Scope 3 Emissions:357.9 tCO2e
Renewable Energy Share:0.4%
Total Energy Consumption:370,346.8 MWh
Water Consumption:4,582,824 m3
Waste Generated:14,501 tons
Carbon Intensity:136.3 tCO2e per MW produced

ESG Focus Areas

  • Energy and emissions
  • Water management
  • Waste
  • Circular economy
  • Fair labour and human rights
  • Community investment
  • Business integrity and ethics

Environmental Achievements

  • Achieved Cradle to Cradle Silver certification for SunPower Maxeon DC solar panels.
  • Energy intensity decreased by 31.3% from 2020.
  • Emissions intensity decreased by 14.8% from 2020.
  • Water intensity decreased by 32.8% from 2020.
  • Avoided an estimated 16,473,076 tCO2e in 2022.

Social Achievements

  • Launched Maxeon Gives corporate social responsibility initiative.
  • Maintained zero cases of verified non-compliance with human rights law.
  • Increased Maxeon volunteering days from 2020.
  • Rolled out Leadership Training Programme and increased career and development discussions amongst employees.

Governance Achievements

  • Adopted the Task Force on Climate-related Financial Disclosures (TCFD) framework.
  • Launched Maxeon’s first Green Bond Framework.
  • Maintained zero substantiated incidents of corruption.

Climate Goals & Targets

Long-term Goals:
  • Net zero emissions (target year not specified).
Medium-term Goals:
  • Improve emissions intensity by 20% from 2020 baseline by 2030.
  • Improve water intensity by 5% from 2020 baseline by 2030.
  • Increase waste recycling by 20% from 2020 baseline by 2030.
  • Reduce DPPM by 50% from 2020 baseline by 2030.
  • Achieve Cradle to Cradle Certified Gold designation for solar panels by 2030.
  • Achieve 34% female leaders by 2025, 37% by 2030.
Short-term Goals:
  • Improve energy intensity by 10% from 2020 baseline by 2025.
  • Improve water intensity by 2.5% from 2020 baseline by 2025.
  • Increase waste recycling by 5% from 2020 baseline by 2025.
  • Reduce DPPM by 30% from 2020 baseline by 2025.

Environmental Challenges

  • Increased flooding from extreme precipitations and rising sea levels.
  • Increased cost of raw materials and discriminatory policies against Maxeon’s products.
  • Decreased recycling rate to 68% of total waste recycled.
Mitigation Strategies
  • Leveraging solar energy across operations, optimizing energy savings through new technologies, and using LEED-certified buildings.
  • Developing a decarbonization journey and setting long-term decarbonization targets.
  • Implementing several waste and recycling projects, including using metal waste for smelting, converting wood waste to furniture, and reusing foams for pillows and pellets.
  • Chemical reduction initiatives to manage and reduce the impacts of hazardous waste.

Supply Chain Management

Supplier Audits: 77% of relevant tier 1 suppliers completed RCOI in 2022.

Responsible Procurement
  • Conflict Minerals Policy
  • Supplier Sustainability Guidelines
  • Global Human Rights Policy and Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks
  • Floods
  • Heatwaves
  • Rising sea levels
Transition Risks
  • Increased cost of raw materials
  • Carbon pricing
  • Discriminatory public policies
Opportunities
  • Growth of solar energy markets
  • Shift in customer preferences
  • Public sector incentives

Reporting Standards

Frameworks Used: GRI Universal Sustainability Reporting Standards 2021, SASB: Solar Technology Project Developers Standard, UN SDGs, UNGC, TCFD

Certifications: ISO 9001, ISO 45001, ISO 14001, LEED Gold, Cradle to Cradle Silver, PROFEPA Clean Industry Certificate, NSF Landfill-Free Verification

UN Sustainable Development Goals

  • SDG 7
  • SDG 10
  • SDG 12
  • SDG 13

Initiatives contribute to affordable and clean energy, reduced inequalities, responsible consumption and production, and climate action.

Sustainable Products & Innovation

  • SunPower One ecosystem
  • Maxeon 6 solar panel

Awards & Recognition

  • Corporate Knights Top 100 Most Sustainable Company

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:162,256 tCO2e/year
Scope 1 Emissions:292 tCO2e/year
Scope 2 Emissions:161,286 tCO2e/year
Scope 3 Emissions:678 tCO2e/year
Renewable Energy Share:207%
Total Energy Consumption:311,102 MWh/year
Water Consumption:4,448,494 m3/year
Waste Generated:19,415 tons/year
Carbon Intensity:66 tCO2e per MW produced

ESG Focus Areas

  • Climate Change
  • Diversity, Equity, and Inclusion
  • Governance
  • Community Investment
  • Occupational Health and Safety
  • Fair Labor and Human Rights
  • Sustainable Innovation
  • Customer Engagement and Satisfaction
  • Circular Economy

Environmental Achievements

  • Achieved LEED Gold certification for Singapore corporate office
  • 3x increase in green power purchases
  • Innovative water recycling in Mexico
  • Emissions intensity decreased to 66 tCO2e per MW produced (59% decrease from 2020)
  • Energy intensity decreased to 127 MWh per MW produced (52% decrease from 2022)
  • Waste recycling rate increased to 83% of total waste generated
  • Achieved Cradle to Cradle Certified Silver designation for DC solar panels

Social Achievements

  • Launched Maxeon Social Impact Areas for community investment (Gender Equity, Sustainability, Mental Wellness)
  • Launched global Employee Assistance Program
  • 25% improvement in customer NPS scores
  • Maxeon volunteering days increased to 433
  • 63% of eligible Maxeon employees passed through the leadership development program
  • Female People Leaders at 32% in 2023

Governance Achievements

  • Zero substantiated incidents of corruption
  • Maintained zero cases of high-consequence injuries and fatalities
  • TRIR decreased to 0.4 (37% reduction from 2022)
  • Implemented blockchain software at factories

Climate Goals & Targets

Long-term Goals:
  • Achieve Cradle to Cradle Certified Gold by 2030
  • Increase Maxeon volunteering days to 7,500 by 2030
Medium-term Goals:
  • Reduce water consumption by 5% from 2020 by 2030
  • Increase waste recycling rate by 20% from 2020 by 2030
  • Achieve 37% female leaders by 2030
  • Achieve 70 NPS score for customer health by 2030
Short-term Goals:
  • Reduce water consumption by 2.5% from 2020 by 2025
  • Increase waste recycling rate by 5% from 2020 by 2025
  • Maintain industry-leading TRIR of 0.63 by 2025
  • Achieve 34% female leaders by 2025

Environmental Challenges

  • Waste generation increased due to a one-off change in a production line
  • Wastewater discharge exceeding prescribed limit of chemicals in Malaysia (resulting in a fine)
  • Scope 3 emissions increased due to new projects in China and increased employee travel
Mitigation Strategies
  • Enhanced heat exchanger capacity and streamlined operations in Malaysia to mitigate wastewater discharge risks
  • Actively seeking ways to increase the use of solar power and reduce emissions throughout the value chain
  • Implementing more stringent record keeping of employee hours at a supplier to mitigate risks associated with excessive working hours

Supply Chain Management

Supplier Audits: Social and environmental criteria screening for all new suppliers; Sedex’s SMETA methodology used for social audits

Responsible Procurement
  • Global Human Rights Policy
  • Code of Conduct
  • Supplier Sustainability Guidelines
  • Annual risk assessments and audits for suppliers
  • Compliance certifications

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI Standards 2021, SASB: Solar Technology Project Developers Standard, UNGC, UN SDGs

Certifications: ISO 9001, ISO 45001, ISO 14001, LEED Gold

Third-party Assurance: Independent specialists validated compliance with GRI Standards 2021; External assurance planned for 2026

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Maxeon 7 solar panel (24.1% efficiency)
  • SunPower One home energy system

Awards & Recognition

  • APEX Award for Most Sustainable Business (UN Global Compact Singapore)
  • Corporate Knights Top 50 Most Sustainable listed companies