Sungrow Releases Its 2023 Sustainability Report Highlighting Commitment to Greener Future

HEFEI, China, May 23, 2024 /PRNewswire/ -- Sungrow, a global leading PV inverter and energy storage system provider, has recently issued its 2023 Sustainability Report. This marks the 9th consecutive year that the company has publicly reported on its dedication to sustainable development.

Against the backdrop of global consensus on the need for renewable energy, Sungrow has doubled down on its commitment to promoting green energy solutions. The report highlights the company's focus on solar, wind, storage, hydrogen, and electric vehicle technologies, offering a range of power equipment solutions.

As a citizen of the Earth, Sungrow has actively practiced the ESG philosophy of "Green Mission, Better Life", continued to step up efforts in areas with professional influence, and strived to fulfil established corporate goals closely linked to the core areas of sustainability and business growth.

Excellent governance

• Sungrow expanded the Strategy Committee to the Strategy and Sustainable Development Committee, and established a three-level sustainable development governance structure.
• Sungrow has topped the rankings of global PV inverter shipments for years in a row and ranked No.1 among Chinese companies for 8 consecutive years in terms of the global shipments of energy storage systems.
• In the principle of innovation-driven development, we invested $347 million in research and development and delivered the world's first 2000V inverter for grid-connected power generation, the world's first 10MWh fully liquid-cooled energy storage system, and the industry's first Stem Cell Grid Tech White Paper.
• By the end of 2023, Sungrow's cumulative installed capacity of inverter and converter equipment had exceeded 515GW worldwide, over 300 million tons* CO₂ emissions can be avoided annually together with our customers.
• Sungrow released the Code of Conduct, initiated ISO37301 certification, strengthened compliance and business ethics training, and passed certifications of ISO27001 and ISO27701.

Towards net zero

• Sungrow had pledged to achieve carbon neutrality on the operational level by 2028, carbon neutrality across the supply chain by 2038, and net zero emissions across the supply chain by 2048.
• Sungrow actively carry out GHG inventory development, with Scope 1 of 3594 tons of CO₂ equivalent, Scope 2 of 38161 tons of CO₂ equivalent, and Scope 3 of 8953862 tons of CO₂ equivalent.
• Sungrow has built rooftop PV power stations in the plants, with a cumulative capacity of nearly 13MW and saved over 1,300MWh of electricity throughout the year and increased the proportion of green electricity consumption to 55%. Energy consumption per unit product decreased by 6.8% compared with 2020.

Eco-friendly development

• The SG320HX series products have won the world's first inverter Italy EPD environmental product declaration.
• Sungrow has invested $1.1 million in environmental protection efforts to continuously optimizing the pollution and waste management system.
• Compared to 2020, the VOC and particulate matter emissions per unit production capacity have decreased by 46.4% and 87.1% respectively compared to 2020.
• The general industrial solid waste utilization rate stood at 60.1%, representing a year-on-year growth of 7%.
• The water consumption intensity per unit product has decreased by 37.3% compared to 2020.

Mutually beneficial collaboration

• The customer satisfaction rate for Sungrow stood at a commendable level of 93.9%.
• Sungrow remains continuously focusing on the compliance and sustainability of supply chain management, with a signing rate of 96.8% for the Supplier Code of Conduct.
• Sungrow has successfully completed ESG audits for 33 suppliers.
• Sungrow has completed carbon inventory and product carbon footprint data collecting for 34 suppliers.

Diversity and inclusion

• Sungrow's organizational health stands at 86.8%, with employee engagement rated at 4.3 points (Full score: 5 points).
• Sungrow boasts 1,287 foreign employees, representing a 43% year-over-year increase. Female managers constitute 15.7% of the workforce, while the localized employment rate stands at an impressive 98.8%.
• Sun Forest has successfully planted a total of 200 acres and oversight the construction of 10 wild animal breeding holes.
• A total of 1352 registered employee volunteers, with a volunteer service duration of 3442 hours.

Cao Renxian, Chairman of Sungrow said, "Nowadays, the green energy represented by solar energy, wind energy, energy storage, and hydrogen energy is gradually replacing the 'impossible triangle' of traditional energy as clean, economic, safe, and sustainable energy. Sungrow will continue to uphold the mission of 'Clean power for all' and work together with all partners sharing a common vision for a sustainable future."

Please download the full sustainability report here.

*Avoided CO₂ emissions are calculated using the global average carbon intensity of electricity generation released by the International Energy Agency (IEA).

About Sungrow

Sungrow Power Supply Co., Ltd. ("Sungrow") is a global leading PV inverter and ESS provider with over 515 GW of power electronic converters installed worldwide as of December 2023. Founded in 1997 by University Professor Cao Renxian, Sungrow is a leader in the research and development of solar inverters with the largest dedicated R&D team in the industry and a broad product portfolio offering PV inverter solutions and ESS for utility-scale, commercial & industrial, and residential applications, as well as internationally recognized floating PV plant solutions, NEV driving solutions, EV charging solutions and renewable hydrogen production systems. With a strong 27-year track record in the PV space, Sungrow products power over 170 countries worldwide. For more information about Sungrow, visit: www.sungrowpower.com.