Maxeon Solar Technologies Starts Supplier Sustainability Monitoring with STACS Through ESGpedia
Maxeon Solar Technologies, a global leader in solar innovation and channels, has started monitoring its suppliers' sustainability with Singapore-based environmental, social, and governance (ESG) fintech Hashstacs Pte Ltd (STACS) via its ESGpedia platform, which powers the ESG Registry of the Monetary Authority of Singapore's (MAS) Project Greenprint.
Maxeon and STACS worked together on the project to look at the sustainability performance of Maxeon's end-to-end supply chain providers using ESG data and digital tools on ESGpedia. Maxeon can use the ESGpedia platform to choose suppliers based on their carbon footprint and give its stakeholders more information about their carbon footprint.
Lindsey Wiedmann, Chief Legal Officer and ESG Executive Sponsor, said:
"Companies like Maxeon have a crucial role to play in accelerating the transition to a low carbon world. With the ESGpedia platform from STACS, we can now track our carbon footprint and may be able to get new funding for sustainable businesses. STACS' ESGpedia platform is also expected to enable financiers and investors to make better green investment decisions, resulting in a positive ESG cycle."
The supply chain of a typical company is where most of its greenhouse gas (GHG) emissions come from. Companies are gradually addressing ESG concerns to reduce GHG emissions from their supply chain while also improving labour conditions, efficiency, and cost savings. But there is a big gap between what organisations want and what they can get to make good decisions and monitor the sustainability of their suppliers.
Sharon Yuen, Chief Commercial Officer at STACS, said:
"At STACS, we aim to support the diverse needs of corporates on their journey towards net zero via holistic ESG data and digital tools on ESGpedia. We are thrilled to have enabled Maxeon Solar Technologies to achieve better ESG credentials monitoring throughout their end-to-end global supply chain, propelling the firm forward in its strong commitment towards sustainability."
Valda Tsang, Director, Global Indirect Sourcing, Supply Chain at Maxeon, said:
"We're looking forward to what this new project in partnership with STACS can bring for Maxeon and our customers and investors. Via STACS' ESGpedia platform, we are now able to search for our suppliers' company profiles digitally, request key ESG and certification data points such as CDP scores and more, to ensure they are meeting their ESG targets and are aligned with our own sustainability commitments."
As a registry with a good track record of sustainability certifications and verified ESG data from a wide range of industries, ESGpedia gives companies like Maxeon, financial institutions, and regulatory bodies a single point of access to all ESG data. This makes it easier to keep track of and analyse suppliers' sustainability promises, measure their impacts, and avoid greenwashing.
As a collection of the most trusted data used in the financial sector's ESG analyses, this also helps improve the management of ESG financial products. This increases trust and could help sustainable companies like Maxeon get the ESG capital they need.
Source: Maxeon Solar Technologies
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