Business
Array Technologies Releases 2021 Environmental, Social and Governance Report
Achieved 13% Reduction in Water Usage and 12% Increase in Volume of Recycled AluminumTargets Environmental and Diversity Goals for 2025Moves Toward Alignment
About this update from Array Technologies, Inc.
[{"type":"text","content":"Achieved 13% Reduction in Water Usage and 12% Increase in Volume of Recycled AluminumTargets Environmental and Diversity Goals for 2025Moves Toward Alignment with the Global Frameworks for Enhanced Transparency ALBUQUERQUE, N.M., June 22, 2022 (GLOBE NEWSWIRE) -- Array Technologies (NASDQ: ARRY) (“Array” or “the Company”) has released its 2021 Environmental, Social and Governance (ESG) report that provides the renewable energy company’s mid-term ESG goals and its advances in reducing its environmental footprint. “Sustainability is the foundation of our business, motivating us to create products that improve the efficiency of solar photovoltaic arrays and helping to enable the critical transition to a low-carbon renewable energy future. In parallel with our environmental actions, Array’s governance recognizes the tantamount importance of advancing social actions for our workforce and the world at large,” said Array Technologies chief commercial officer Erica Brinker. “With our 2021 ESG report, we are providing more rigor and transparency by progressing toward widely recognized global ESG benchmarking frameworks.” The 2021 report also references the Sustainability Accounting Standards Board (SASB), the Global Reporting Initiative (GRI) and the Taskforce of Climate-Related Financial Disclosures (TCFD) frameworks to further our engagement with stakeholders across the ESG spectrum who increasingly seek more standardized reporting. Later this year, Array will also undertake its first materiality assessment to better illustrate its ESG priorities. Also significant in this year’s report is the establishment of goals to be achieved by year-end 2025: Deliver an additional 90,000 MW of solar powerReduce direct emissions intensity 30% from baseline year 2021Source 50% of our direct energy consumption from renewable energy sourcesIncrease total workforce woman representation by 10% from baseline year 2021Increase non-executive management racial and ethnic minority representation by 10% from baseline year 2021Increase board woman representation 22% from baseline year 2021 This is the second ESG report since Array became a public company in the fourth quarter of 2020. The 2021 ESG report release follows the announcement that Array joined the UN Global Compact, which established the 17 Sustainable Development Goals that focus on water, energy, ...