GlobalData offers a comprehensive analysis of Enphase Energy, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of Climate Change and associated ESG keywords, GlobalData delivers valuable information on Enphase Energy‘s ESG performance. GlobalData’s company profile on Enphase Energy offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Enphase Energy, a solar energy technology company, has set a target to achieve a 30% reduction in its economic emissions intensity by 2030. The company aims to achieve this goal by transitioning its operations to renewable energy and building resilience into its value chain through enhanced cooperation with suppliers, contract manufacturers, and customers. Enphase Energy has also set specific targets related to scope 2 and scope 3 emissions. In 2022, the company’s Scope 2 and Scope 3 GHG emissions were reported at 10,603 and 53,542 (GHG in metric tonnes of CO2 equivalents) respectively. The company has already taken steps to reduce its emissions, including deploying renewable energy systems in emerging markets and implementing a low-carbon transition plan for facilities and key suppliers. Enphase Energy’s latest filings mentioned the keywords ‘Emissions’ and ‘Solar Energy’ most number of times in relation to ‘Climate Change’.
Enphase Energy has made significant investments in renewable energy, including research, development, acquisitions, manufacturing, distribution, maintenance, and operation of solar energy generation products and systems, solar energy storage systems, and enabling technologies for solar energy storage and optimization. The company has also issued green bonds to finance eligible green projects related to renewable energy and eco-efficient production technologies and processes. The company reported 100% recycling of hazardous waste which were diverted from landfill and amounted to 0.45 metric tonnes in 2022.
Enphase Energy's efforts to reduce its carbon emissions align with the United Nations Sustainable Development Goals, including promoting sustained, inclusive, and sustainable economic growth, full and productive employment and decent work for all, building resilient infrastructure, promoting inclusive and sustainable industrialization, and taking urgent action to combat climate change and its impacts. The company's CEO compensation for 2023 is explicitly tied to increasing on-site generation capacity across leased facilities and preventing emissions resulting from product deployments. Performance against climate metrics and targets is connected to remuneration at all levels of the organization.
In conclusion, Enphase Energy has been able to identify the ESG metrics by referring to Sustainability Accounting Standards Board and Global Reporting Initiatives and organized the collected content related to the concerned areas. Futher, the company has disclosed its actionable strategies aligned with TCFD and UNSDGs to achieve its GHG emissions target by 2030.