- Assigns Management and Board-Level Oversight to ESG Program
- Intends to Launch Inaugural ESG Report in Early 2024
PROVO, UT / ACCESSWIRE / April 11, 2022 / Sunworks, Inc. (NASDAQ:SUNW), a leading provider of solar power and battery storage solutions for residential, agriculture, commercial, industrial, and public works markets, today announced that it has launched an integrated Environmental, Social and Governance (ESG) reporting program, consistent with the Company's long-term commitment to value creation through sustainable business practices.
In conjunction with the launch of the program, Sunworks has developed a corporate responsibility committee, named the ESG Advisory Committee, tasked with the management of all ESG activities, which will report to a dedicated, Governance and Sustainability Board-level committee responsible for program oversight. The ESG Advisory Committee is comprised of a diverse mix of accomplished Sunworks employees from throughout the organization, ensuring that the core values of Sunworks are firmly embedded within its ESG reporting function. Sunworks expects to issue its inaugural ESG report in early 2024, prepared in accordance with established, generally accepted ESG reporting frameworks. The Company intends to issue its annual ESG report at the conclusion of an internal audit of its reported data.
Beginning with Sunworks' inaugural ESG report, the Company intends to introduce measurable, multi-year targets that prioritize its sustainability objectives, with an emphasis on decarbonization and climate change, diversity and inclusion and the betterment of communities where it operates.
As a leading provider of photovoltaic and battery-based power and storage systems for the residential and commercial markets, Sunworks provides cost-effective, sustainable powering solutions. Since 2017, Sunworks systems have generated more than 195 megawatts of low-cost, reliable solar energy, serving to significantly reduce reliance on carbon-based sources of energy generation in communities across the United States. The Company believes these systems have prevented greenhouse gas (GHG) emissions totaling 939,713 metric tons of carbon dioxide equivalent (CO2e).
"As a leading participant in the global energy transition, we are pleased to announce the formal launch of our ESG reporting program," stated Gaylon Morris, Chief Executive Officer of Sunworks. "Since inception, we've built a purpose-driven organization committed to delivering innovative, sustainable energy solutions. Over time, we've demonstrated a palpable commitment to ethical, responsible business practices that advance the availability of clean, affordable electricity for all, a strategic imperative that remains integral to our corporate DNA. We believe our newly launched ESG program will bring an added level of intentionality around how we monitor and report on a variety of performance indicators, while highlighting how Sunworks continues to do the right thing for our environment, employees, customers, and communities."
"Our Board, management team and employees strongly support a robust ESG reporting function, one that we expect will further align our core values with responsible business practices, while ensuring long-term value creation for all stakeholders," stated Judith Hall, Chairperson of the Board of Sunworks. "Over time, we intend to refine and expand our ESG disclosures, providing an unprecedented level of transparency around how we do business, while outlining measurable performance targets that ensure continued accountability throughout the organization."
Sunworks is a premier provider of high-performance solar power systems. Sunworks is committed to quality business practices that exceed industry standards and uphold its ideals of ethics and safety. Sunworks continues to grow its presence, expanding nationally with regional and local offices. The company strives to consistently deliver high quality, performance-oriented solutions for customers in a wide range of industries including residential, agricultural, commercial, and industrial, federal, and public works. Sunworks' diverse, seasoned workforce includes distinguished veterans who bring a sense of pride, discipline, and professionalism to their interaction with customers. All Sunworks' employees uphold its guiding principles each day. Sunworks is a member of the Solar Energy Industries Association (SEIA) and is a proud advocate for the advancement of solar power. For more information, visit www.sunworksusa.com and www.solcius.com
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about the benefits of an integrated ESG program, our ability to collaborate with third parties and our ability to meet stated sustainability goals. These forward-looking statements are based upon the current beliefs and expectations of management and are inherently subject to significant business, economic and competitive uncertainties, and contingencies, many of which are beyond the control of Sunworks. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ materially from the anticipated results discussed in these forward-looking statements because of possible uncertainties. Factors that could cause actual results to differ materially from those expressed in the forward-looking statements are discussed in Sunworks' reports (such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K) filed with the SEC and available on the SEC's Internet site (http://www.sec.gov). We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
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SOURCE: Sunworks, Inc.
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