Business
Canadian Solar Releases 2022 Corporate Sustainability Report
GUELPH, ON, July 31, 2023 /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ) today announces the release of its 2022
About this update from Canadian Solar Inc.
[{"type":"text","content":"GUELPH, ON, July 31, 2023 /PRNewswire/ -- Canadian Solar Inc. (the \"Company\", or \"Canadian Solar\") (NASDAQ: CSIQ) today announces the release of its 2022 Sustainability Report, which highlights the Company's progress toward advancing its sustainability strategy from an environmental, social, and governance (ESG) perspective.\nThe sustainability disclosure in this report are aligned with global standards set by the TCFD (Task Force on Climate-Related Disclosures), SASB (the Sustainability Accounting Standards Board) and GRI (Global Reporting Initiative). The full report is available here.\nHighlights of the report include:\nRecognition by external ESG rating agencies. Canadian Solar received a Prime ESG rating from Institutional Shareholder Services (ISS) in early 2023, placing the Company among the top 5 percentile of the nearly 100 global companies rated in the same industry. Canadian Solar also received an Excellent ESG rating from Achilles, a reputable UK agency evaluating environmental, social and governance factors across supply chains.Significantly expanded the Company's participation in international ESG initiatives. Canadian Solar recently joined United Nations Global Compact (UNGC), committing to support and adhere to the Ten Principles of the UNGC on human rights, labor, environment, and anti-corruption. Canadian Solar has also recently submitted a commitment letter to the SBTi (Science Based Targets initiative) indicating its intention to set the near-term and net-zero science-based climate targets. In addition, the Company has completed CDP Climate Change 2023 Questionnaire, providing data on how climate-related issues are addressed in alignment with the TCFD recommendations.On track to achieve the Company's environmental goals and targets. In 2022, Canadian Solar reduced its year-over-year greenhouse gas (GHG) emissions, energy, water, and waste intensity by 3%, 7%, 30% and 15% respectively. Specifically, on GHG emissions, the Company has made further progress towards climate impact transparency by disclosing certain scope 3 emissions. The Company is also on track to achieve the goal of powering all global operations with 100% of renewable energy before 2030.Ensuring ethical labor practices in the Company's operations and suppliers. In 2022, the Company conducted 122 supplier ESG audits and initiated a third-par...