SINGAPORE, October 27, 2022 /PRNewswire/ — Maxeon Solar Technologies (‘Maxeon’), a global leader in solar innovation and channels, today announced the initiation of supplier sustainability monitoring with Singapore-headquartered environmental, social, and governance (‘ESG’) fintech Hashstacs Pte Ltd (‘STACS’) through its ESGpedia platform, which powers the ESG Registry of the Monetary Authority of of Singapore (‘MAS’) Project Greenprint.
Maxeon and STACS started the project to use holistic ESG data and digital tools in ESGpedia for monitoring the sustainability performance of suppliers in Maxeon’s end-to-end supply chain. The ESGpedia platform enables Maxeon to select suppliers based on their emissions and provide greater transparency of its carbon footprint for its stakeholders.
Lindsey WiedmannChief Legal Officer and ESG Executive Sponsor, said: “Companies like Maxeon have an important role to play in accelerating the transition to a low-carbon world. Thanks to STACS’ ESGpedia platform, we can now track our carbon footprint and potentially access new financing targeted for sustainable companies. STACS’ ESGpedia platform is also expected to enable financiers and investors to make better green investment decisions, resulting in a positive ESG cycle.”
A typical company’s supply chain accounts for most of its greenhouse gas (‘GHG’) emissions. Gradually, companies are starting to address ESG concerns to reduce their supply chain’s GHG emissions, while also improving working conditions, efficiency and cost savings. However, there is a deep disconnect between the ESG data companies need for effective supplier sustainability monitoring and decision making, and what is available to them.
Sharon YuenChief Commercial Officer at STACS, said: “At STACS, we aim to support the diverse needs of corporations on their journey towards net zero through holistic ESG data and digital tools at ESGpedia. We are delighted to be able to Maxeon Solar Technologies to achieve better Monitoring ESG credentials throughout their end-to-end global supply chain, driving the company forward in its strong commitment to sustainability.”
Valda TsangDirector, Global Indirect Sourcing, Supply Chain at Maxeon, said: “We look forward to what this new STACS collaboration project will bring for Maxeon and our customers and investors. Through STACS’ ESGpedia platform we are able to We search for company profiles of our suppliers digitally, request key ESG data points and certifications such as CDP scores and more, to ensure they meet their ESG targets and are in line with our own sustainability commitments.”
As a registry with a reliable record of sustainability certifications and verified ESG data in various sectors, ESGpedia provides corporations like Maxeon, financial institutions, and regulatory authorities with a common point of access for holistic ESG data. This facilitates better monitoring and evaluation of suppliers’ sustainability commitments, measuring impact, and preventing fears of greenwashing. As an aggregator of the most trusted data underlying the financial sector’s ESG reviews, it also helps improve the management of ESG financial products, enhancing trust and potentially mobilizing much-needed ESG capital for sustainable companies such as of Maxeon.
For more information on Maxeon’s ESG strategy and practices, visit: https://corp.maxeon.com/esg
About Maxeon Solar Technologies
Maxeon Solar Technologies (NASDAQ: MAXN) is Powering Positive Change™. Headquartered in SingaporeMaxeon designs and manufactures Maxeon® and SunPower® brand solar panels, and has sales operations in more than 100 countries, operating under the SunPower brand in certain foreign countries The united state. The company is a leader in solar innovation with access to more than 1,000 patents and two best-in-class solar panel product lines. Maxeon products cover the global rooftop and solar power plant market through a network of more than 1,700 trusted partners and distributors. A pioneer in sustainable solar manufacturing, Maxeon leverages a +35 year history in the solar industry and numerous awards for its technology. For more information about how Maxeon enables Positive Change™ visit us at www.maxeon.comin LinkedIn and on Twitter @maxeonsolar.
About STACS https://stacs.io/
STACS (Hashstacs Pte Ltd) is a Singapore-headquartered FinTech company focused on ESG FinTech, operates ESGpedia, which powers the Monetary Authority of of Singapore (MAS) Greenprint ESG Registry. STACS serves as ESG Finance’s Nexus with multi-industry ESG data and digital tools for the financial sector to measure decarbonization financing, as well as a platform to provide quality carbon offsets for mitigation residual emissions. Its clients and partners include global financial institutions and corporations. STACS is an Award Winner of the MAS Global FinTech Innovation Challenge Awards 2020, and a two-time awardee of the Financial Sector Technology and Innovation (FSTI) Proof of Concept (POC) grant, under the Financial Sector Development Fund administered by MAS.
Maxeon’s Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding: (a) the effectiveness of our environmental efforts; and sustainability and our ability to achieve expected benefits; and (b) the incorporation of sustainable or beneficial environmental features during the development of new projects or processes, or the implementation of improvements in existing projects and processes. These forward-looking statements are based on our current assumptions, expectations and beliefs and involve uncertainties that could cause results, performance or success to differ materially from those expressed or implied by the statements. this in the future. A detailed discussion of these factors and other risks affecting our business is included in the filings we make with the SEC from time to time, including our Form 20-F, which the SEC declared effective on August 4, 2020, specifically under the heading “Item 3.D. Risk Factors.” Copies of these filings are available online from the SEC or in 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 undertake no obligation to update these forward-looking statements in light of new information or future events.
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