Trinasolar, a global leader in smart photovoltaic and energy storage solutions, has seen its Morgan Stanley Capital International (MSCI) ESG rating upgraded to BBB, placing it among the leaders in the PV industry.
The MSCI ESG rating system is widely recognized by global investment institutions and markets. The rating measures a company's management of financially relevant ESG risks and opportunities. This significant upgrade reflects Trinasolar's continuous improvement in ESG management. According to the MSCI ESG rating report, Trinasolar continues to lead the industry in key issues including opportunities in clean technology, corporate behavior and water stress. In governance, Trinasolar performance exceeds the industry average.
In the realm of clean technology opportunities, Trinasolar has consistently prioritized research and innovation within its development strategy, enabling the company to maintain a leading technological edge in the industry. In fact, Trinasolar has set or broken 26 world records in terms of PV cell conversion efficiency and module power output, and has more than 5,600 patent applications. With its mission of “Solar energy for all”, the company is constantly improving solar cell and module efficiency through technological innovation to facilitate the global transition to clean energy.
Trinasolar gives priority to sustainability in its development strategy and is dedicated to minimizing the environmental impact of its production and operational processes. Last year, the company adopted a net-zero system, covering net-zero operations, net-zero value chain and net-zero products. In addition, the company reaffirmed its commitment to achieving carbon neutrality in global organizational operations by 2030. Trinasolar's production plant in Yancheng, Jiangsu province, has been awarded zero waste landfill and zero-carbon factory certifications by TÜV Rheinland. Earlier the company's plant in Yiwu, Zhejiang province, became the first factory in the PV industry to be awarded zero-carbon certification by a third-party. The company continues to make substantial progress in implementing net-zero carbon operating practices.
Trinasolar regards managing water resources as a critical issue, acutely aware of the significance of sustainable water extraction and use. It has evaluated the water risk levels in areas in which 23 manufacturing plants operate and has adopted measures to make water use more efficient and reduce associated risks. In addition, Trinasolar's manufacturing plants have effectively improved water efficiency of their production and operational processes by implementing measures such as upgrading equipment, improving processes and using reclaimed water. Indeed, the company's water resource management makes it an industry leader. In September the online news and analytical service provider Environmental Finance recognized Trinasolar for its water stewardship, the only company in the Asia-Pacific region to win such an accolade.
In the field of corporate governance, Trinasolar has continued to improve the independence and diversity of its board of directors, resulting in continuing improvement in its rating performance. The company has developed a four-tier ESG structure covering governance, management, execution and supervision. The structure is characterized by clearly defined ESG management responsibilities and objectives at all levels of the organization. Improved processes have contributed to the company's continued improvement of its ESG performance and management capabilities.
Trinasolar resolutely opposes unethical business practices and is committed to improving its compliance management capabilities to ensure that all operations are transparent and adhere to legal standards. The company has implemented a comprehensive anti-corruption and business ethics training program that involves all employees, from directors to full-time employees throughout the world. In February, the company obtained ISO 37301 compliance management system certification.
Wu Xiao, Head of Risk Control and ESG Management at Trinasolar, said: “As a member of the United Nations Global Compact, Trinasolar is committed to playing its part in conserving energy, reducing carbon emissions and ensuring sustainable development by working with partners worldwide and adhering to the most stringent standards of sustainability.”
Trinasolar will continue to improve its ESG management by pursuing technological innovation and taking the lead in fulfilling its obligations to the environment and to society. The company endeavors to be a pioneer in the high-quality development of the smart PV and energy storage industry, aiming to help build a low-carbon energy system that is clean, efficient and secure.