GlobalData offers a comprehensive analysis of Enphase Energy, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Enphase Energy‘s ESG performance. GlobalData’s company profile on Enphase Energy offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.

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Enphase Energy, a renewable energy company's primary objective is to advance a sustainable future that benefits everyone. The company prioritizes technology and products that improve quality of life while maintaining a steadfast commitment to sustainability. Its products and services directly address challenges posed by climate change and the transition to a low-carbon economy. Enphase Energy's environmental management system (EMS) is consistently enhanced to align with business strategy, foster positive environmental outcomes, and mitigate adverse effects. Through the EMS, the company takes a proactive approach to evaluate environmental risks and opportunities, establish crucial performance indicators (KPIs) and targets, and gauge progress in achieving environmental objectives.

Enphase Energy completed its second year of a greenhouse gas (GHG) emissions inventory. The calculations adhere to the guidance outlined in the GHG Protocol Corporate Standard, encompassing direct (Scope 1), electricity-indirect (Scope 2), and specific Scope 3 emissions categories. Operating under their "OpEx Lite" model, where no large factories are owned or operated, the company regards Scope 1 emissions as negligible. Scope 2 emissions originate from energy consumption in leased facilities worldwide. They actively collaborate with upstream and downstream partners to minimize Scope 3 emissions. The company remains dedicated to measuring and exploring opportunities for further reductions in Scope 3 emissions.

In 2022, Enphase Energy reported its greenhouse gas (GHG) emissions, both location- and market-based, as follows: direct emissions (Scope 1) amounted to 0 MTCO2e, electricity-indirect emissions (Scope 2) totaled 10,603 MTCO2e, and other indirect emissions (Scope 3) reached 53,542 MTCO2e. The overall GHG emissions for the year stood at 64,145 MTCO2e. Additionally, the combined emissions intensity for Scope 1 and 2, measured in MTCO2e per million dollars of revenue, was reported at 4.55. The company has also set a target to reduce its Scope 1 and Scope 2 economic emissions intensity by 30% by 2030.

Enphase Energy has taken steps to reduce emissions and work towards maintaining its sustainability vision. The company has made investments in renewable energy projects, including research, development, acquisitions, manufacturing, distribution, maintenance, and operation of solar energy generation products and systems. Enphase Energy has also issued green bonds to fund eligible green projects. The company's philanthropic activities include providing solar energy for low-income communities through a partnership with GRID alternatives.

Enphase Energy's efforts align with the United Nations Sustainable Development Goals, particularly in promoting sustainable economic growth, resilient infrastructure, and combating climate change. The company's work in deploying renewable energy systems in emerging markets supports economic growth in developing countries and contributes to increasing the global renewable energy mix.

In terms of governance, Enphase Energy ties CEO compensation to increasing on-site generation capacity and preventing emissions resulting from product deployments. The company has a low-carbon transition plan in place, which includes transitioning operations to renewable energy and building resilience into the value chain through cooperation with suppliers, contract manufacturers, and customers.

In conclusion, Enphase Energy is committed to achieving sustainability in its operations and has taken steps to reduce its carbon and GHG emissions. The company's investments in renewable energy projects and philanthropic activities contribute to sustainable economic growth and the global deployment of renewable energy technologies. Enphase Energy's governance practices align with its climate goals, and it has a low-carbon transition plan in place.

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