Maxeon Solar Technologies Earns "Sustainable Business" Apex Award at UN Global Compact Network Singapore Ceremony

09 Nov, 2023

Maxeon Solar Technologies Earns "Sustainable Business" Apex Award at UN Global Compact Network Singapore Ceremony

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN), a prominent global leader in solar innovation and channels, proudly announces its recent accolade as the recipient of the 'Sustainable Business' award at the United Nations Global Compact Network Singapore's (GCNS) Apex Award ceremony. The ceremony, held on November 3, 2023, witnessed the presence of Singapore's Minister for Sustainability and the Environment, Grace Fu.

The Singapore Apex Corporate Sustainability Awards, esteemed for recognizing corporate sustainability excellence, honor companies exemplifying the Ten Principles of the United Nations Global Compact. These principles encompass crucial aspects like environment, human rights, labor, and anti-corruption. Maxeon Solar Technologies stood out for its commitment to advancing the Sustainable Development Goals (SDGs), with a notable focus on environmental responsibility, human rights, and labor practices.

Judges emphasized Maxeon's leadership in sustainable solar technology and the company's serious consideration of social factors within its supply chain. Maxeon has undertaken rigorous measures to ensure a supply chain free of forced labor, a commitment recognized by the recent report from Sheffield Hallam University. The report, titled "OVER-EXPOSED: Uyghur Region Exposure Assessment for Solar Industry Sourcing," attests to Maxeon having zero exposure to forced labor risks.

CEO Bill Mulligan expressed enthusiasm, stating, "Maxeon is a mission-driven company, and we are thrilled that our sustainability efforts have been recognized by the Global Compact Network Singapore. We plan to continue to be a leader in sustainability in the solar industry, both in Singapore and globally."

Esther Chang, Executive Director of Global Compact Network Singapore, commended Maxeon's dedication since joining the Global Compact family in 2020. She emphasized Maxeon's role as an example of bold and innovative thinking, contributing significantly to advancing the SDGs.

This APEX Award is one of several recognitions of corporate sustainability excellence for Maxeon this year. The company secured a position among the top 1% of all global corporations in Corporate Knights' annual ranking of the world's most sustainable corporations. Additionally, Maxeon was acknowledged as the most sustainable solar company in Malaysia at the ESG Summit in Kuala Lumpur on August 22, 2023.

Lindsey Wiedmann, Chief Legal and Sustainability Officer at Maxeon, highlighted the foundational decision of joining the Global Compact and expressed pleasure at the meaningful sustainability program's recognition. Maxeon remains committed to leading the global corporate sustainability agenda in the years ahead.