Sunrun Releases 2021 Impact Report, Accelerates ESG Progress
Sunrun, one of the largest solar companies in the world with over 4.7 gigawatts of Networked Solar Energy Capacity, provides increased reporting transparency aligned with the Task Force on Climate-related Financial Disclosures (TCFD) in company’s fifth annual Impact Report
SAN FRANCISCO, April 22, 2022 (GLOBE NEWSWIRE) -- Sunrun (Nasdaq: RUN), the nation’s leading home solar, battery storage, and energy services provider, today released its 2021 Impact Report, accelerating progress and setting ambitious goals for leading on Environmental, Social and Governance (ESG) initiatives. Notable achievements include providing over $800 million in energy cost savings to customers; increasing gender and Black, Indigenous, and People of Color (BIPOC) representation throughout the company; and Sunrun solar systems generating 20 billion kilowatt-hours of clean energy since 2007, helping avoid approximately 11.2 million metric tons of carbon dioxide equivalent (CO2e)—the equivalent of taking 2.4 million cars off the road for a year.
“Inspired by our mission to provide customers with more affordable and reliable clean energy, we are delivering meaningful impact while doing business responsibly and sustainably,” said Mary Powell, Chief Executive Officer of Sunrun. “We have made significant progress toward our goals and initiatives, and we are focused on how to have an even greater positive impact every single day cultivating a more inclusive workplace and delivering a more resilient, affordable and clean energy future to millions of homes across the country.”
The 2021 Impact Report details Sunrun’s recent efforts in priority areas such as talent attraction, retention, development, advancing diversity and inclusion initiatives, employee safety, as well as ways the company is delivering value to its customers through the electrification of homes and transportation. Furthermore, the Report spotlights Sunrun’s commitment to adopt science-based emissions reduction targets.
Additional highlights from Sunrun’s 2021 Impact Report include:
Updated Sustainability Goals for 2022 and Beyond
In the company’s 2020 Impact Report, Sunrun unveiled its initial corporate sustainability goals focused on mitigating the impacts of anthropogenic climate change; building a diverse, fair and equitable workforce; and improving environmental equity and justice. As part of its commitment to annual reporting, the 2021 Impact Report highlights Sunrun’s progress towards those goals as well as ESG updates to improve outcomes. Updated goals include:
- Decrease transportation emissions by transitioning half of the company’s vehicle fleet to either electric or hybrid by the end of 2025.
- Achieve 100% equipment recycling at each operating facility by the end of 2023.
- Foster a diverse workforce that represents the customers and communities in which the company’s employees live and work by:
- Increasing the representation of employees who identify as women in Director and above roles by 50% and increasing the representation of BIPOC leaders in Manager roles by 25% by the end of 2025.
- Reaching gender parity in Director and above roles and BIPOC representation parity in Manager roles by the end of 2030.
Sunrun is committed to comprehensive environmental stewardship, including supplier responsibility, resource efficiency, performance evaluation and reporting, pollution prevention, and employee awareness. In 2021:
- Sunrun deployed 792 megawatts of solar power. These systems can generate more than 31 billion kilowatt-hours of clean energy during the next 30 years, an equivalent of more than 17 million metric tons of CO2e avoided.
- More than 55 billion gallons of water were conserved based on the electricity generated by Sunrun’s solar systems, according to the U.S. Energy Information Administration estimates for thermoelectric power generation.
- Sunrun redeployed or recycled more than 2.6 megawatts of solar panels.
- Sunrun became a signatory to the United Nations’ Global Compact and The Climate Pledge.
Sunrun is committed to building an inclusive and diverse workforce. It provides career opportunities in the growing clean energy space and transforms the way people power their lives by expanding access to affordable, reliable energy through its innovative solar-as-a-service model.
- Through its completed and contracted multifamily work, Sunrun anticipates $13.5 million of annual solar savings directly to more than 115,000 low-and-moderate income residents in approximately 38,500 affordable housing units. Sunrun has also supported more than 5,700 hours of job training for residents in disadvantaged communities.
- Women make up 56% of the company’s Board of Directors, 50% of the executive management team, and one quarter of all Sunrun Director and above roles. Manager roles are approximately 35% BIPOC, and nearly half of the company’s workforce self-identifies as BIPOC.
- Sunrun had six Employee Resource Groups: Asian+, Black+, Latinx+, Pride+, Veterans+ and Women’s+. These groups have grown to include approximately 1,200 employees, a 40% increase over the prior year. In March 2022, Sunrun proudly launched its seventh Employee Resource Group, the Disability+ ERG.
Sunrun’s priority is to operate its business with integrity, responsibility, and accountability. Sunrun works to continually enhance the structures, policies, and internal controls that support and promote accountability, transparency, and ethical behavior. During 2021, Sunrun made further improvements to its corporate governance, including:
- Increasing the diversity of Sunrun’s Board of Directors, which now has a majority of female members, including CEO Mary Powell, as well as increasing the racial diversity of the Board.
- Adopting stock ownership guidelines for the company’s directors and executive officers.
- Introducing performance-based equity awards for its executive team.
Energy Independence & Resilience
Sunrun has installed more than 32,000 solar and battery systems nationwide, increasing installations by more than 100% in 2021 compared to the prior year. Home solar and battery systems give homeowners peace of mind and comfort with the ability to power through multi-day outages and protect against peak utility rates.
- In 2021 alone, Sunrun’s home solar and battery storage systems provided thousands of customers across the nation with more than 234,000 hours (~9,750 days) of backup energy, helping them power through 38,652 power outage events.
- Since the first quarter of 2019, Sunrun battery systems have dispatched more than 516,000 hours (~21,500 days) of backup energy during nearly 81,000 outage events.
Sunrun’s 2021 Impact Report was prepared in accordance with the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-related Financial Disclosures (TCFD) frameworks. For more information, including metrics related to additional financial, social and environmental sustainability, and an appendix that provides ESG-related disclosures, please see Sunrun’s 2021 Impact Report.
Sunrun Inc. (Nasdaq: RUN) is the nation’s leading home solar, battery storage, and energy services company. Founded in 2007, Sunrun pioneered home solar service plans to make local clean energy more accessible to everyone for little to no upfront cost. Sunrun’s innovative home battery solutions bring families affordable, resilient, and reliable energy. The company can also manage and share stored solar energy from the batteries to provide benefits to households, utilities, and the electric grid while reducing our reliance on polluting energy sources. For more information, please visit www.sunrun.com.
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Released April 22, 2022