Canadian Solar

Canadian Solar: Carbon Emissions and Climate Commitments

Canadian Solar, headquartered in CA and operating within the furniture and other manufactured goods sector, has demonstrated a commitment to reducing its environmental impact through various climate initiatives and emissions reporting.

Emissions Data:

• 2024: Canadian Solar reported total Scope 1 emissions of approximately 16,864,000 kg CO2e and Scope 2 market-based emissions of approximately 1,576,842,000 kg CO2e. Scope 3 emissions were approximately 27,324,256,000 kg CO2e.
• 2023: The company's Scope 1 emissions were approximately 54,987,000 kg CO2e, with Scope 2 market-based emissions at approximately 1,800,274,000 kg CO2e. Scope 3 emissions amounted to approximately 21,974,157,000 kg CO2e.
• 2022: Total Scope 1 emissions were approximately 75,647,000 kg CO2e, and Scope 2 market-based emissions were approximately 1,213,373,000 kg CO2e. Scope 3 emissions were reported as approximately 256,177,000 kg CO2e.
• 2021: Canadian Solar reported total emissions of approximately 1,224,568,000 kg CO2e. Scope 1 emissions were approximately 45,464,000 kg CO2e, Scope 2 emissions were approximately 952,591,000 kg CO2e, and Scope 3 emissions were approximately 226,512,000 kg CO2e.
• 2020: Total emissions were approximately 751,645,000 kg CO2e, comprising Scope 1 emissions of approximately 19,117,000 kg CO2e and Scope 2 emissions of approximately 732,528,000 kg CO2e. Scope 3 emissions were not disclosed for this year.
• 2018: The company reported total emissions of approximately 18,000,000 kg CO2e. Specific scope breakdowns were not fully available.

Climate Commitments and Reduction Targets:

Canadian Solar has established several significant targets to drive its decarbonisation efforts:

• Net-Zero Commitment: Canadian Solar commits to achieving net-zero greenhouse gas emissions across its value chain by 2050.
• Near-Term Absolute Emissions Reduction (2035):
  • A 64.9% reduction in absolute Scope 1 GHG emissions from a 2023 base year.
  • A 64.9% reduction in absolute Scope 2 GHG emissions from a 2023 base year.
  • A 66.3% reduction in Scope 3 GHG emissions from purchased goods and services per MW of solar-related product produced.
• Long-Term Absolute Emissions Reduction (2050):
  • A 90.0% reduction in absolute Scope 1 GHG emissions from a 2023 base year.
  • A 90.0% reduction in absolute Scope 2 GHG emissions from a 2023 base year.
  • A 97.0% reduction in Scope 3 GHG emissions per MW of solar-related product produced.
• Intensity Reduction Target: Canadian Solar aims for a 37% reduction in GHG emission intensity from 2020 levels, targeting 92 tCO2e/MW by 2030. This includes a goal to procure 100% renewable energy in its operations before 2030.
• Operational Achievements: In 2024, the company reported a 12% reduction in Scope 2 market-based emissions (approximately 211,917 tonnes CO2e) and a significant 69% decrease in Scope 1 emissions compared to 2023.