Canadian Solar

Canadian Solar reported total emissions of approximately 29.0 billion kg CO2e in 2024. This includes Scope 1 emissions of 16.86 million kg CO2e, Scope 2 market-based emissions of 1.58 billion kg CO2e, and Scope 3 emissions of 27.32 billion kg CO2e. In 2023, the company's total emissions were approximately 23.87 billion kg CO2e, comprising Scope 1 emissions of 54.99 million kg CO2e, Scope 2 market-based emissions of 1.80 billion kg CO2e, and Scope 3 emissions of 21.97 billion kg CO2e.

Canadian Solar has demonstrated significant emissions reductions. In 2024, Scope 1 emissions decreased by 69% compared to 2023, and Scope 2 market-based emissions declined by 12% due to increased adoption of green certificates and green electricity.

The company has set ambitious climate commitments validated by the Science Based Targets initiative (SBTi). Canadian Solar Inc. commits to achieving net-zero greenhouse gas emissions across its value chain by 2050.

Near-term targets include:

• Reducing absolute Scope 1 and Scope 2 GHG emissions by 64.9% by 2035 from a 2023 base year.
• Reducing Scope 3 GHG emissions from purchased goods and services by 66.3% per MW of solar-related product produced by 2035 from a 2023 base year.

Long-term targets include:

• Reducing absolute Scope 1 and Scope 2 GHG emissions by 90.0% by 2050 from a 2023 base year.
• Reducing Scope 3 GHG emissions by 97.0% per MW of solar-related product produced by 2050 from a 2023 base year.

Additionally, Canadian Solar aims to achieve a 37% reduction in its GHG emission intensity from 2020 levels to 92 tonnes CO2e/MW by procuring more renewable energy, with a goal of achieving 100% renewable energy before 2030. The company has also established annual and five-year rolling targets for its e-STORAGE manufacturing operations, anticipating a 23% reduction in Scope 1 and Scope 2 GHG intensity for battery cell production from 2025 to 2029.