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ESG Ratings & Recognition
At SolarEdge, we are invested in being part of the solution to the global challenge of climate change, and to help the global transition to a low-carbon, renewable and smart energy market. In parallel, we have made significant progress in advancing our various ESG (Environment, Social, Governance) practices and progress towards our sustainability targets.
These efforts and progress have been receiving growing external recognition and awards in recent years from multiple stakeholders and globally known ranking agencies. Following are some prominent examples:
Corporate Knights’ 2024 Global 100
SolarEdge was included in the Corporate Knights’ 2024 list for the 100 Most Sustainable Corporations in the World. SolarEdge was recognized as a sustainability leader for creating smart and renewable energy products and solutions that promote a low-carbon economy, and for the company’s advanced ESG practices. The Corporate Knights Global 100 list is widely recognized as a leading global sustainability index. As part of the ranking process, over 6,700 global publicly traded companies with over US$1 billion in revenue are assessed across 25 key performance indicators. For more information see the full 2024 Global 100 ranking.
Sustainalytics
In September 2023, SolarEdge received an ESG Risk Rating of 16.4 and was assessed by Morningstar Sustainalytics to be at Low Risk of experiencing material financial impacts from ESG factors.
(Ratings range 0 – 100, the lower the better)
Morningstar Sustainalytics’ ESG Risk Ratings measure a company’s exposure to industry-specific material ESG risks and how well a company is managing those risks. Learn more about the ESG Risk Ratings here: https://www.sustainalytics.com/corporate-solutions/esg-solutions/esg-risk-ratings. (For more information on Sustainalytics’ Ratings see below).*
ISS
As of August 2023, SolarEdge holds ISS ESG Prime status and an ESG Corporate Rating of B-. SolarEdge is among the top 10% of the highest rated companies in the Electronic Components sector rated by ISS ESG. In addition, SolarEdge was awarded an ISS Governance QualityScore of ‘1’, the best possible score in this ranking, exhibiting advanced corporate governance practices.
(Corporate Ratings range D- to A+; QualityScores range from 1-10, the lower the better)
ISS ESG examines global businesses across a wide range of sustainable and responsible investment issues, including climate change, SDG-linked impact, human rights, labor standards, and more. For further information about ISS ESG ratings, please visit https://www.issgovernance.com/esg/ratings/
EcoVadis
In February 2024, EcoVadis awarded SolarEdge a Silver Medal for its ESG practices and performance. This medal places SolarEdge in the Top 15% among over 130,000 globally rated companies.
(Medals range from Bronze [top 35%] – Platinum [top 1%])
EcoVadis is a globally recognized assessment program, covering over 220 industries in 180 countries, that evaluates companies’ sustainability performance across various categories, including environment, labor and human rights, ethics, and sustainable procurement.
MSCI
As of 2023, SolarEdge received an MSCI ESG Rating of A.
(Ratings range from CCC – AAA)
MSCI ESG Research provides MSCI ESG Ratings on global public and a few private companies, according to exposure to industry-specific ESG risks and the ability to manage those risks relative to peers. Learn more about MSCI ESG ratings here. **
S&P
In the 2023 S&P Global Corporate Sustainability Assessment SolarEdge performed in the top 13% in the Semiconductor & Semiconductor Equipment industry. SolarEdge scored 43/100 (CSA Score date: 27/10/2023).
(Ratings range 0 - 100, the higher the better)
The S&P Global ESG Score measures a company’s performance on and management of material ESG risks, opportunities, and impacts informed by a combination of company disclosures, media and stakeholder analysis, modeling approaches, and in-depth company engagement via the S&P Global Corporate Sustainability Assessment (CSA).
CDP
SolarEdge submitted its first full CDP Climate Change Report in 2023, achieving a C score. Find SolarEdge’s CDP Climate Change Report here.
(Ratings range from D- to A)
The CDP organization operates a global disclosure system for companies, cities, states and regions regarding their environmental impacts (climate change, water security and deforestation). The CDP scores these reports based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets.
2023 Sustainability Leadership Award (BI Group)
SolarEdge was among the winners of the 2023 Sustainability Leadership Award from the Business Intelligence Group. SolarEdge was recognized as a sustainability leader for the contribution of its products to the worldwide transition from centralized, fossil fuel-based energy to clean, distributed, and renewable power generation and consumption. This contribution was facilitated by the millions of homes and variety of global businesses that are generating solar power using the SolarEdge solar systems, allowing for the annual voidance of over 31 million tonnes CO2e of emissions, every year.
2023 Solar Diversity Champion Award Finalist
SolarEdge was the winner of the bronze award for the 2023 Solar Diversity Champion Award from SolarPower Europe. SolarEdge was recognized as a leader in diversity after creating a training program specifically designed for Bedouin women from Zarzir, a Bedouin community in northern Israel. This program aims to tackle an Israeli case of intersectionality, by encouraging quality employment in technological fields among women who are also part of an underemployed minority group. Through the program, 14 Bedouin women were trained in ERP and CRM system automation by SolarEdge professionals, and now work for SolarEdge as external QA testers, with the aim of future hiring as full-time employees. The program also aims for the participating women to become role models in their communities and inspire others to seek meaningful careers and challenge traditional norms.
Page last updated March 2024.
*This multi-dimensional way of measuring ESG risk combines the concepts of management and exposure to arrive at an assessment of ESG risk, i.e. a total unmanaged ESG risk score or the ESG Risk Rating, that is comparable across all industries. Sustainalytics’ ESG Risk Ratings provide a quantitative measure of unmanaged ESG risk and distinguish between five levels of risk: negligible, low, medium, high and severe.
In no event shall information from this webpage be construed as investment advice or expert opinion as defined by the applicable legislation. Copyright © 2023 Morningstar Sustainalytics. All rights reserved. This webpage contains information developed by Sustainalytics (www.sustainalytics.com). Such information and data are proprietary of Sustainalytics and/or its third party suppliers (Third Party Data) and are provided for informational purposes only. They do not constitute an endorsement of any product or project, nor an investment advice and are not warranted to be complete, timely, accurate or suitable for a particular purpose. Their use is subject to conditions available at https://www.sustainalytics.com/legal-disclaimers.
**The use by SolarEdge technologies, Inc. of any MSCI ESG research LLC or its affiliates (“MSCI”) data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of SolarEdge technologies, inc. by MSCI. MSCI services and data are the property of MSCI or its information providers, and are provided ‘as-is’ and without warranty. MSCI names and logos are trademarks or service marks of MSCI.