BEIJING, May 31 (Xinhua) -- Trina Solar Co., Ltd. (688599. SH), one of the world's leaders in smart photovoltaic (PV) and energy storage solutions, recently released its 2023 Sustainability Report, reflecting important progress and evolution of milestones surrounding Trinasolar's commitment to become a more sustainable company. As a company with its mission of Solar Energy for All, the 2023 report provides more information on sustainability management and performance of Trinasolar's commitments to address environmental, social and governance (ESG) priorities, while building long-term value for Trinasolar stakeholders with incredible business growth being seen over the past year.
"As the world moves steadily towards a sustainable future, green energy and environmental innovation have become critical drivers in shaping the world of tomorrow. Under this global trend, Trinasolar is leading the way in the global energy revolution with technological innovations and sustainable development strategies. We utilize green technology products to advance global low-carbon development and join hands with our global partners to create a beautiful new net-zero world. The company has been practicing six key strategies of 'innovation, branding, globalization, platformization, intellectualization, and industry-finance synergy' to lead the development of the industry," Gao Jifan, chairman & CEO of Trinasolar, wrote in his opening remarks of the report.
As an early adopter of sustainable development management in the PV industry, Trinasolar has formed a mature top-down governance and management structure. In recent years, it has further integrated ESG into the decision-making process and daily operations. Stemming from its vision and mission, more sustainable goals with ambition have been gradually formalized -- reinforced through a strong foundation of ESG governance -- that will guide Trinasolar sustainability strategy moving forward.
Highlights of the report include:
Keeping extensive R&D investments to advance rapid and quality innovation. According to the report, Trinasolar continues advancing in technological innovation. In 2023, the company's investment in R&D reached 785 million U.S. dollars. With the latest carrier enhanced sintering technology and edge passivation technology, the Vertex N-type Modules can reach a maximum power of 720.53W, an efficiency of 23.2 percent, and have been certified by a third-party organization.
Products carbon footprint has achieved significant reduction compared to baseline. Trinasolar has been committed to carbon emissions management and strict implementation of environmental compliance goals. In 2023, Trinasolar's GHG emissions intensity of cell was reduced to 27.66 tCO2e/MW, decreased by 43 percent from the 2020 baseline and the GHG emissions intensity of module was 9.30 tCO2e/MW, decreased by 61 percent from the 2020 baseline. The GHG emissions intensity of module (tCO2e/MW) has reached or even exceeded the established target ahead of schedule.
The first zero-carbon factory certificate has been granted in the PV industry. In April 2023, Yiwu Technology was granted the Zero-Carbon Factory (Type 1) Certificate for 2022 by Ti Testing and Certification Group, becoming the first zero-carbon factory certified by an authoritative agency in the PV industry. As a pilot zero-carbon factory, Trinasolar's Yiwu Technology Factory has laid out a green zero-carbon supply chain in all aspects, from product design, carbon footprint management, energy management, equipment modification, process upgrades to digital intelligent management system optimization.
Trinasolar's products have received international certification. Full range of Trinasolar's modules, including Vertex, Vertex N and Vertex S+ series, have obtained carbon footprint certification by international agencies. Trinasolar's Vertex and Vertex N series modules are granted Environmental Product Declaration certifications, EPD Italy certification and Carbon Footprint of Products certification. Trinasolar's Vertex modules received the Life Cycle Assessment (LCA) Certificate and Carbon Footprint Certificate by TÜV Rheinland.
Always striving for a better community by continuously promoting diversity, equity and inclusiveness. As an international enterprise, Trinasolar's business footprint extends to many countries and regions, with employees from diverse backgrounds. Trinasolar is committed to working with all forces to build better communities characterized by shared benefits and create a better future. As of the end of 2023, the proportion of female employees of Trinasolar reached 26.06 percent, the total number of foreign employees was 3,429, and the total number of ethnic minority employees was 1,875.
Operating to the highest standards of business practices with effective governance. Trinasolar upholds the principles of compliance, ensures the legitimacy and transparency of business activities, promotes interaction and cooperation among stakeholders, aiming to enhance the company's social responsibility and reputation. Trinasolar has been awarded the ISO 37301:2021 international standard certification for compliance management by the British Standards Institution. This powerfully demonstrates Trinasolar's ability to fulfill global business partners' compliance management requirements.
During the 2023 reporting period, Trinasolar has received several awards and recognitions for its outstanding performance in ESG and sustainability including 2023 Forbes China Top 50 Innovative Enterprises, 2023 Bloomberg Green ESG 50, Decarbonisation Leader by the European Union Chamber of Commerce in China, etc. Furthermore, Trinasolar has joined the United Nations Global Compact (UNGC), which is committed to adhering to more international and higher standards of sustainability.
"Looking forward, Trinasolar will not forget our original aspiration and stick to the corporate mission of 'Solar Energy for All'. We will make every effort to be the global leader in smart solar energy and storage solutions and work together to build and embrace the high-quality development of the PV industry, contributing to a low-carbon, high-efficiency, and sustainable future," Gao added.
The 2023 Sustainability Report refers to the reporting disclosure requirements of the latest Global Reporting Initiative (GRI) Standards 2021 and the reporting framework of the Task Force on Climate-Related Financial Disclosures (TCFD).
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