Why We’re Joining the United Nations Global Compact
In its first full quarter, Maxeon Solar Technologies becomes a signatory to the world’s largest corporate sustainability initiative.
Going Solar
Jeff Waters, Chief Executive Officer
At Maxeon Solar Technologies, our highly advanced solar products are powering the fight against climate change in more than 100 countries around the globe. And yet, we make our debut in 2020 as an independent company amid a pandemic, rising inequality and an emerging climate crisis. As a purpose-driven global organization, we believe we can make the greatest impact by joining the 12,000 + companies in 160 countries who also believe that together, we can make the world a better place.
Today, Maxeon Solar Technologies is excited to announce that we will join the United Nations (UN) Global Compact, the world’s largest sustainability initiative. It’s a bold step towards a more holistic vision of ESG (Environmental, Social and Governance goals). Throughout the coming year you will see a series of actions designed to underscore our unwavering commitment to advancing environmental sustainability, social inclusion and good governance.
At Maxeon, we aspire to the highest standards, not just for the products we make, but also for the environmentally and socially responsible methods we use to make them. Our high-efficiency panels were the first to earn a ‘Cradle to Cradle’ product certification and first to have their ingredients shared through the Declare label. By adding our cell Fab 4 in August, we are now the owner / operator of five LEED®-certified solar facilities globally. And while we’re proud of our legacy as a sustainability pioneer, we believe there’s more we can do.
By broadening our sustainability strategy to a global Environmental, Social and Governance (ESG) platform, we can make an even greater impact on the communities we serve. It’s a commitment inspired by our company purpose, Powering Positive Change™ – our steadfast belief that, by constantly improving ourselves, we help create a better future for our planet, our stakeholders and our business.
Central to our UN commitment is the alignment of our ESG strategy with the United Nations Sustainable Development Goals (SDGs). This global framework lays out 17 goals adopted in 2015 by all 193 Member States of the UN. It is the ideal blueprint for broadening our approach to sustainability and decarbonisation across the more than 100 countries we serve.
While our operations impact each of the 17 SDGs directly and indirectly, Maxeon will be focusing on four specific goals:
- Affordable and Clean Energy
- Responsible Consumption and Production
- Peace, Justice and Strong Institutions
- Reduced Inequalities
These goals are consistent with the Maxeon Values that make us who we are, as a company and as a culture, and define what we stand for with our customers and investors. Uniting for a better world is not a bespoke effort for us – it is part of everything we do, and core to how and why we do it:
By the end of 2021, we plan to have specific 2030 targets and commitments for each of these four SDGs. We will be measuring our progress rigorously and also plan to disclose key investor metrics specific to our industry annually, ensuring that our reporting aligns with international standards.
With less than ten years left to meet the UN's 2030 Agenda on sustainable development, renewable energy will be a key engine powering both Singapore's and the world's decarbonisation agenda. At Global Compact Network Singapore, enabling businesses to transition smoothly to a low-carbon future through community and capacity building is a key priority. We warmly welcome Maxeon Solar Technologies to the United Nations Global Compact and look forward to working alongside them to take decisive action for the SDGs.
With decades of experience in sustainability under our belt, we’ve learned that thoughtful planning is everything. That is why we’re so excited about expanding our ESG efforts from our new Singapore home and around the globe. It will take time, and as with any worthy endeavor, there will be challenges. But there’s nothing more gratifying than helping to create a future that’s healthier, greener and more inclusive and just for everyone. We’re joining the UN Global Compact to help make that future a reality.
That’s what Powering Positive Change™ is all about.