Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN), a global leader in solar innovation, today joined the United Nations Global Compact, the world's largest voluntary corporate sustainability initiative. The company committed to be a Signatory of the Global Compact in its first full quarter of operations from its global headquarters in Singapore, having become an independent entity at the end of August 2020.
As a special initiative of the UN Secretary-General, the United Nations Global Compact is a call to companies everywhere to align their operations and strategies with ten universal principles in the areas of human rights, labour, environment and anti-corruption, and to take action in support of the United Nations Sustainable Development Goals (the Global Goals or SDGs). It includes more than 10,000 companies and 3,000 non-business signatories based in over 160 countries, and more than 60 Local Networks.
"With less than ten years left to meet the UN's 2030 Agenda on sustainable development, renewable energy will be a key engine powering both Singapore's and the world's decarbonization agenda," said Esther Chang, Executive Director, Global Compact Network Singapore. "At Global Compact Network Singapore, enabling businesses to transition smoothly to a low-carbon future through community and capacity building is a key priority. We warmly welcome Maxeon Solar Technologies to the United Nations Global Compact and look forward to working alongside them to take decisive action for the SDGs."
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As part of its sustainability commitment to solving global issues, Maxeon will align its Environmental, Social, Governance (ESG) strategy with the United Nations SDGs as it continues to deliver industry-leading technologies to enable its customers' decarbonization initiatives. This global framework lays out 17 goals adopted in 2015 by all 193 Member States of the UN. According to the recent foreword from the UN Secretary-General in The Sustainable Development Goals Report 2020, the ongoing COVID-19 pandemic is threatening lives and livelihoods, exposing and exacerbating existing inequalities and injustices making the aspirations of achieving the Global Goals even more challenging.
"By broadening our sustainability strategy to the United Nations Global Compact and Sustainable Development Goals, we can make an even greater impact on the communities we serve in more than 100 countries - especially in this unprecedented time when urgent action to support the SDGs is key," said Jeff Waters, CEO of Maxeon Solar Technologies, in a blog posted today. "It's a commitment inspired by our company purpose, Powering Positive Change™ – our steadfast belief that, by constantly improving ourselves, we help create a better future for our planet, our stakeholders and our business."
To deliver its external commitments to the UN Global Compact, Maxeon has bolstered its internal team naming Lindsey Wiedmann, Chief Legal Officer, as the company's Global Environment, Social, Governance (ESG) Executive Leader. Wiedmann will head a team of ESG experts with direct experience with the UN Global Compact. Matthew Kasdin, Director, Senior Counsel, was a Legal Advisor to the UN Global Compact and Principles for Responsible Investment (PRI) initiatives, and was a member of the UN Development Program Stakeholder Advisory Committee on Climate Change. He was recently joined by Alvin Seo, Global ESG Lead, who was one of ten people worldwide honored in 2019 as an United Nations Global Compact SDG Pioneer to recognize individuals in businesses championing sustainability and mobilizing companies to be a force for good.
"At Maxeon, we are driven by the opportunity to give people everywhere the power to make a positive impact on our world, with intense focus on decarbonizing our planet. We are proud of our legacy in raising the bar for the entire solar industry, and eager to join the UN Global Compact and continue this important work with like-minded organizations and companies that prioritize environmental, social and governance stewardship through the advancement of the Sustainable Development Goals," concluded Wiedmann.
Source: Maxeon Solar Technologies, Ltd.
Date: Dec 14, 2020
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