SolarEdge Releases its annual Sustainability Report, Highlighting its Sustainable Energy Solutions and Responsible ESG Practices
MILPITAS, Calif. (BUSINESS WIRE) SolarEdge Technologies, Inc. (“SolarEdge” or the “Company”) (NASDAQ: SEDG), a global leader in smart energy technology, today announced the release of its 2021 sustainability report, detailing progress made towards realizing the Company’s sustainability strategy in all Environment, Society, Governance (ESG) fields and representing its commitment to accountability and transparency to stakeholders.
Zvi Lando, Chief Executive Officer of SolarEdge, commented: “The subject of ‘energy’ has dominated global headlines in 2021 and especially in recent months. Whether it’s energy uncertainty due to global conflicts, the rising energy prices or energy legislations set to reduce the impact of climate change - energy has become a key factor that will shape our future. As a company dedicated to building a sustainable future through use of renewable energy, our sustainability strategy guides us to conduct our business responsibly, ethically, inclusively and efficiently, and we intend to continue this path to further deliver on our sustainability commitments.”
The report was prepared in accordance with the Global Reporting Initiative (GRI) Standards and the Sustainability Standards Accounting Board (SASB) Standard for Solar Technology and Project Developers, and summarizes the Company's global sustainability activities, performance and results from calendar year 2021. SolarEdge’s sustainability strategy leverages high-performance, smart energy technology to power the future of energy and aims to deliver positive impact for people and society.
The following lists some of the Report highlights:
- 23 million tonnes CO2e are avoided annually through the usage of SolarEdge PV systems, equivalent to permanently removing ~5 million petrol cars off the roads, globally.
- Enhanced responsible procurement practices, requiring suppliers and contract manufacturers to meet environmental, social, and ethical requirements. First on-site audits conducted to assure compliance.
- Quantitative targets set and programs launched to enhance gender equality in the company’s workforce, with emphasis on R&D and managerial roles.
- While expanding its global operations, the Company is strengthening its efforts to reduce emissions, increase recycling and assure employees’ safety in its operations (8% reduction in emissions-per-revenues; 71% of waste is recycled/recovered; 19% reduction in safety incident rate).
SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, electric vehicle powertrains, and grid services solutions. SolarEdge is online at solaredge.com