SINGAPORE, July 9, 2024
/PRNewswire/ -- Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN), a
global leader in solar innovation and channels, today announced the
publication of its Sustainability Report for 2023, as well as its
annual Modern Slavery Statement, both of which highlight the
Company's continuing accomplishments in Powering Positive
Change.
Maxeon's fourth annual Sustainability Report outlines the
company's comprehensive approach, commitment, and progress in
sustainable business operations. 2023 brought Maxeon well-deserved
recognition for its industry leadership, including the APEX Award
for Most Sustainable Business awarded by the United Nations Global
Compact Singapore. Maxeon also rose to the Top 50 Most Sustainable
Companies in the world as ranked by Corporate Knights. In addition,
MSCI continues to rate Maxeon as AA and ISS rates the Company as
Prime in their respective sustainability indices.
"As more countries and corporations pledge to achieve net-zero
emissions, renewable energy will play a pivotal role in enabling
this transition," said Bill
Mulligan, Maxeon's Chief Executive Officer. "Maxeon is
delighted to be a key player in the race to achieving net-zero by
supporting the growing demand for solar energy, coupled with our
exceptional sustainability and governance best practices."
2023 was a year of change at Maxeon that included significant
innovation in its solar energy solutions, and the Sustainability
Report details how the Company's achievements are focused on
shaping a better future for our planet and for Maxeon's
stakeholders.
Additional highlights from the 2023 Sustainability Report
include:
- Launching a circular economy partnership with Nanyang Technological University in Singapore to improve the recycling process for
solar panels
- The introduction of its SunPower home energy system empowering
consumers to optimize their home energy consumption and their use
of self-generated clean energy
- The launch of the Maxeon 7 solar panel with over 24% efficiency
and superior shade tolerance
- LEED Gold Certification for Maxeon's Singapore headquarters
- Establishing Maxeon Impact Areas in Gender Equity,
Sustainability and Mental Wellness
- A 25% improvement in customer NPS scores, reflecting
exceptional customer focus
Maxeon's latest Modern Slavery Statement provides further
transparency and goes in depth examining the Company's human rights
protections throughout its supply chain, including detailed insight
into its traceability measures for key raw materials.
"I am proud to continue Maxeon's tradition of leading the solar
industry by issuing robust, comprehensive and transparent reporting
on our performance," said Lindsey Wiedmann, Chief Legal &
Sustainability Officer at Maxeon. "Our values include Holding
Ourselves to a Higher Standard, and
in doing so, we are raising the bar for the industry and promoting
the importance of corporate action to address climate change and
its negative impacts."
The latest edition of the Sustainability Report adheres to the
highest international reporting standards of the Global Reporting
Initiative (GRI) and the Sustainability Accounting Standards Board
(SASB) as well as the UN Global Compact and the Singapore Exchange
Sustainability Reporting requirement. Maxeon's Modern Slavery
Statement is aligned to Australia,
California, and United Kingdom standards.
Maxeon's 2023 Sustainability Report can be found on the
Company's website here, and the Modern Slavery Statement is also
available here.
About Maxeon Solar Technologies
Maxeon Solar Technologies (NASDAQ: MAXN) is Powering Positive
Change™. Headquartered in Singapore, Maxeon leverages over 35 years of
solar energy leadership and over 1,900 patents to design innovative
and sustainably made solar panels and energy solutions for
residential, commercial, and power plant customers. Maxeon's
integrated home energy management is a flexible ecosystem of
products and services, built around the award-winning
Maxeon® and SunPower® branded solar panels.
With a network of more than 1,700 trusted partners and
distributors, and more than one million customers worldwide, the
Company is a global leader in solar. For more information about how
Maxeon is Powering Positive Change™ visit us
at www.maxeon.com, on LinkedIn and on
Twitter @maxeonsolar.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, including,
but not limited to, statements regarding our expectations and plans
for short- and long-term strategy, including our product and
technology focus, our technology outlook and future performance;
the effectiveness of our environmental and sustainability efforts
and our ability to achieve the expected benefits; the incorporation
of governance-led, sustainable or environmentally beneficial
features in our management, during development of new projects or
processes, or the implementation of improvements to existing
projects and processes; demand and growth projections; our
relationships with our stakeholders, and our ability to develop and
maintain them; and our goals, commitments, expectations, prospects
as well as external ESG commitments, initiatives,
and future plans. Among other things, the quotations from
management in this press release contain forward-looking
statements. These forward-looking statements are based on our
current assumptions, expectations and beliefs and involve
uncertainties that may cause results, performance, or achievement
to materially differ from those expressed or implied by these
forward-looking statements. A detailed discussion of these factors
and other risks that affect our business is included in filings we
make with the SEC from time to time, including our Form 20-F,
particularly under the heading "Item 3.D. Risk Factors." Copies of
these filings are available online from the SEC or on the
Financials & Filings section of our Investor Relations website
at www.maxeon.com/financials-filings/sec-filings. All
forward-looking statements in this press release are based on
information currently available to us, and we assume no obligation
to update these forward-looking statements in light of added
information or future events.
©2024 Maxeon Solar Technologies, Ltd. All Rights Reserved.
MAXEON is a registered trademark of Maxeon Solar Technologies, Ltd.
Visit https://corp.maxeon.com/trademarks for more information.
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SOURCE Maxeon Solar Technologies, Ltd.