Climate Change Data

REC Group

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:6.9 t GHG (CO2-eq)/MW Scope 1 emissions; 40 t GHG (CO2-eq)/MW Scope 2 emissions
Scope 1 Emissions:6.9 t GHG (CO2-eq)/MW
Scope 2 Emissions:40 t GHG (CO2-eq)/MW
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:101 MWh/MW of energy consumption in Singapore (+12% vs 2022)
Water Consumption:607 m³/MW of process water consumption in Singapore (-3% vs 2022)
Waste Generated:4.2 t /MW of waste generated in Singapore (-6% vs 2022)
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Environment
  • Social
  • Governance

Environmental Achievements

  • 142,540 m³ of water saved (equivalent to consumption of 2,472 people)
  • 941 t CO2 saved through own clean solar power generation
  • 100% recycling rate of scrap modules in Singapore (23,562 modules)
  • 4,125 t of total waste generated in Singapore (-29% vs 2022)
  • -50% of process water consumption intensity in Singapore in 3 years
  • -30% energy consumption intensity in Singapore within 3 years

Social Achievements

  • 1,029 new installers trained
  • 100% re-certification of employees on Code of Conduct and Anti-Corruption
  • 0.28 Total Recordable Incident/m man hours (-53% vs 2022)
  • 40 supplier audits (+11%)
  • 0 deviations for ESG and HSE identified at suppliers (stable)
  • 7 social projects supported by education and donations

Governance Achievements

  • 0 deviations identified from REC’s Fair Advertising and Promotion guidelines
  • 0 deviations identified from REC’s Trade Control Policy
  • No deviations on Conflict of Interest, Anti-competitive practices, Corruption, Fraud reported.

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • 40% Share of Female Employees
  • <0.3 TRI
  • 0 Deviations for ESG & HSE at Suppliers
Short-term Goals:
  • -50% Specific Process Water Consumption
  • -30% Specific Energy Consumption
  • -30% Specific Waste Generation
  • -30% Specific Scope 1 Emissions
  • -50% Specific HF Sludge Generation

Environmental Challenges

  • Significant waste streams from the solar PV industry in the early 2030s
  • Complete recycling of solar PV panels has yet to be fully implemented globally
  • Human rights violations in the solar industry
Mitigation Strategies
  • Extending the lifespan of solar panels by producing high-quality products
  • 100% recycling rate of scrap modules
  • Working closely with suppliers to source materials responsibly and ethically
  • Regular audits to examine labor practices, working conditions and HSE management systems
  • Integrating social and environmental clauses into supplier contracts

Supply Chain Management

Supplier Audits: 40 supplier audits (+11%)

Responsible Procurement
  • Strict supplier code of conduct that prohibits the use of conflict minerals
  • Social and environmental clauses integrated into supplier contracts
  • Assessing suppliers' progress with regards to the REACH requirements

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: ISO 26000

Certifications: ISO 14001:2015, ISO 45001:2018

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • SDG 7 (Affordable and Clean Energy)
  • SDG 9 (Industry, Innovation, and Infrastructure)
  • SDG 12 (Responsible Consumption and Production)

REC's efforts to promote sustainability and address global challenges

Sustainable Products & Innovation

  • REC Alpha Pure-RX solar panel

Awards & Recognition

  • Two Intersolar Awards for REC Alpha and Alpha Pure Series panels
  • PVEL Top Performer for 8 consecutive years
  • EcoVadis Silver Medal