Maxeon Solar Technologies Commences Supplier Sustainability Monitoring with STACS via ESGpedia

SINGAPORE, Oct. 26, 2022 /PRNewswire/ -- Maxeon Solar Technologies ('Maxeon'), a global leader in solar innovation and channels, today announced the commencement of supplier sustainability monitoring with Singapore-headquartered 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 embarked on the project to leverage holistic ESG data and digital tools on ESGpedia for monitoring the sustainability performance of suppliers in Maxeon's end-to-end supply chain. The ESGpedia platform enables Maxeon to select suppliers based on their emissions and provide greater transparency of its carbon footprint for its stakeholders.

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. Thanks to STACS' ESGpedia platform, we are now able to monitor our carbon footprint and potentially access new funding targeted for sustainable companies. STACS' ESGpedia platform is also expected to enable financiers and investors to make better green investment decisions, resulting in a positive ESG cycle."

A typical company's supply chain accounts for majority of its greenhouse gas ('GHG') emissions. Progressively, companies are beginning to address ESG concerns to reduce the GHG emissions of their supply chain, while also improving labour conditions, efficiency and cost savings. However, there is a profound disconnect between the ESG data that companies need for effective supplier sustainability monitoring and decision-making, and what is available to them.