Canadian Solar

Canadian Solar's latest disclosed emissions data is for 2024. In that year, the company reported total Scope 1 emissions of approximately 16.86 million kg CO2e, total market-based Scope 2 emissions of approximately 1.58 billion kg CO2e, and total Scope 3 emissions of approximately 27.32 billion kg CO2e. These figures reflect emissions across their operations in the 'Furniture; other manufactured goods n.e.c.' industry.

Looking at their climate commitments, Canadian Solar Inc. has set ambitious Science Based Targets initiative (SBTi) approved targets. The company commits to achieving net-zero greenhouse gas emissions across the entire value chain by 2050.

For near-term targets, Canadian Solar Inc. aims to reduce absolute Scope 1 and Scope 2 GHG emissions by 64.9% by 2035, using a 2023 base year. Additionally, they commit to reducing Scope 3 GHG emissions from purchased goods and services by 66.3% per MW of solar-related product produced within the same timeframe.

For long-term targets, Canadian Solar Inc. pledges to reduce absolute Scope 1 and Scope 2 GHG emissions by 90.0% by 2050 from a 2023 base year. They also commit to reducing Scope 3 GHG emissions by 97.0% per MW of solar-related product produced by 2050.

In terms of reduction achievements, Canadian Solar reported a significant reduction in 2024 compared to 2023:

• Total Scope 1 emissions decreased by 69%, or approximately 38.12 million kg CO2e.
• Total market-based Scope 2 emissions declined by 12%, or approximately 211.92 million kg CO2e, primarily due to increased adoption of green certificates and green electricity.

Canadian Solar has also set an intensity target to achieve a 37% reduction in its GHG emission intensity from 2020 levels, aiming for 92 tonnes CO2e/MW. They intend to achieve this by procuring more renewable energy and aiming for 100% renewable energy before 2030. Furthermore, the company has established annual and five-year rolling targets (from 2025 to 2029) to reduce the GHG intensity of their e-STORAGE manufacturing operations (including battery energy storage solutions and battery cell facilities) by 23% for both Scope 1 and Scope 2 emissions.