Faro Energy
Climate Impact & Sustainability Data (2018, 2021-04 to 2021-06, 2024)
Reporting Period: 2018
Environmental Metrics
ESG Focus Areas
- Climate Change
- Renewable Energy
Environmental Achievements
- Construction of distributed solar energy production facilities in Brazil to reduce greenhouse gas emissions and accelerate the transition to cleaner energy.
Governance Achievements
- Established internal processes and controls for managing bond funds and investments, including tracking of proceeds, managing unallocated proceeds, and earmarking funds to nominated projects.
Climate Goals & Targets
Environmental Challenges
- Limited access to capital for renewable energy projects in Brazil.
Mitigation Strategies
- Issuance of a green bond to finance the construction of distributed solar energy production facilities.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: Climate Bonds Standard version 2.1, Sector-specific criteria for Solar version 2.1
Third-party Assurance: Bureau Veritas UK Ltd.
Reporting Period: 2021-04 to 2021-06
Environmental Metrics
Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:26.9 GWh
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Climate Change
- Renewable Energy
Environmental Achievements
- Generated 26.9 GWh of renewable energy across five solar projects, resulting in a reduction of approximately 8,600 tons of CO2 emissions (calculated based on provided data and conversion factors).
Social Achievements
- Not disclosed
Governance Achievements
- Not disclosed
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Not disclosed
Short-term Goals:
- Not disclosed
Environmental Challenges
- System data collection errors in initial reporting for some projects.
Mitigation Strategies
- Historical data was edited to account for system data collection errors.
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Not disclosed
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: Climate Bonds Standard
Certifications: Null
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- Not disclosed
Awards & Recognition
- Not disclosed
Reporting Period: 2024
Environmental Metrics
Total Carbon Emissions:0 tCO2e/year (carbon neutral)
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:100%
Total Energy Consumption:450 GWh/year (cumulative since operations began)
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Renewable Energy
- Climate Change
- Sustainable Development
Environmental Achievements
- Became a carbon-zero company in 2024, with compensation for all activities.
- Generated over 450 GWh of solar energy since operations began.
Social Achievements
- 41% of positions occupied by women, 57% in management.
- Generates over 200 jobs in project development, implementation, and operation.
Governance Achievements
- Maintains a governance structure typical for closed-capital corporations, with a Board of Directors and a Management Board.
- Is a certified B Corp since April 2016.
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Not disclosed
Short-term Goals:
- Reach 300MWp installed capacity by 2025
Environmental Challenges
- Not disclosed
Mitigation Strategies
- Not disclosed
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Compliance with the Equator Principles and IFC guidelines
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: ICMA Green Bond Principles, LMA/APLMA/LSTA Green Loan Principles, ANBIMA Guide for Sustainable Bond Offerings, Climate Bonds Initiative (CBI) standards, UN Sustainable Development Goals (SDGs)
Certifications: B Corp
Third-party Assurance: Potential for independent auditor review post-emission
UN Sustainable Development Goals
- SDG 7 (Affordable and Clean Energy)
- SDG 9 (Industry, Innovation, and Infrastructure)
- SDG 13 (Climate Action)
Investments in solar power plants contribute to these goals.
Sustainable Products & Innovation
- Not disclosed
Awards & Recognition
- Best for the World: Governance (2018)
- Best for the World: Environment (2019, 2021, 2022)