INTRODUCTION
About this report
Reporting scope and period
We are pleased to present our third annual Sustainability Report (“Report”), published by Maxeon Solar Technologies, Ltd. (the “Company” or “Maxeon”), (NASDAQ: MAXN).
As a follow-up from our last published Sustainability Report on 30 June 2022, this Report highlights our sustainability performance and efforts across environmental, social and governance (“ESG”) considerations for the financial year that ended on 31 December 2022 (“FY 2022” or “2022”). The Report will exemplify our sustainability strategies, aspirations and advancements relating to our material ESG topics, across the financial year. We continue to hone and further our sustainability commitment to our valued stakeholders including our employees, investors, customers, business partners, suppliers, contractors, regulators, and the communities in which we operate, as demonstrated within this Report.
The Sustainability Report supplements Maxeon’s Annual Report 2022, reporting on the same period, which can be found on our website.
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Reporting standards
This Report has been prepared in accordance with the Global Reporting Initiative (“GRI”) Universal Sustainability Reporting Standards 2021 and is aligned to the Sustainability Accounting Standards Board (“SASB”): Solar Technology Project Developers Standard. We selected these widely accepted international reporting standards due to their ability to enable comparability in performance through an industry-specific lens and year-on-year internal analysis. Additionally, these standards aid in providing a robust framework for guiding our sustainability strategy whilst ensuring proper performance management, tracking and reporting. As we are headquartered in Singapore,
we also adhere to the reporting requirements set out by Singapore Exchange (“SGX”).
Furthermore, we have aligned our Report to the United Nations Sustainable Development Goals (“UN SDGs”) and continue to remain committed as a signatory of the United Nations Global Compact (“UNGC”). In FY 2022, we adopted the Task Force on Climate-related Financial Disclosures (“TCFD”) to further our sustainability performance, promote transparency and acknowledge the climate-related impacts associated with our organisation and its operations.
Quality of report and assurance
We engage external experts to verify alignment of our Sustainability Report content with the requirements of the GRI Standard. Whilst we do not seek external assurance for this Report, we have robust systems to ensure the accuracy of the information reported. We plan to seek external assurance within the next three years.
Publication date
This Report is published on 28 June 2023.
Restatement of information
We have restated our 2020 and 2021 training hours data in this Sustainability Report due to an update in Maxeon’s Learning Management System, which resulted in a more detailed and accurate breakdown of the training hours.
Feedback
Maxeon welcomes any questions or feedback on this Report. For more information, please contact our Global Environmental, Social and Governance Lead, Stella Chan, at esg@maxeon.com.
Memberships in associations
- United Nations Global Compact (“UNGC”)
- Australian Packaging Covenant (“APCO”)
- Supplier Ethical Data Exchange (“SEDEX”)
- Declare – International Living Future Institute (“Declare”)
- Cradle to Cradle Products Innovation Institute (“Cradle to Cradle”)
- Chief Financial Officer (“CFO”) Coalition for the SDGs
© 2023 MAXEON SOLAR TECHNOLOGIES
Introduction
Environmental
Social
Governance
Appendix
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