Sunnova Energy International Inc., a leading U.S. residential energy service provider, announced the release of its second annual Environmental, Social and Governance (ESG) report, which highlights the critical steps the company took in 2021 to advance its ESG management through rigorous and transparent reporting of sustainability performance.
The report contains several key highlights of Sunnova’s ESG progress, including:
• Inaugural ESG Goals
• Materiality Assessment Results
• Alignment with the Taskforce on Climate-Related Financial Disclosures (TCFD)
• Value Chain (Scope 3) Greenhouse Gas Emissions Accounting
“The last year has been pivotal for the evolution of sustainability with a growing awareness of and interest in ESG issues,” said Kelsey Hultberg, Executive Vice President, Chief of Staff and ESG Steering Committee Chair at Sunnova. “Our focus in 2021 was on strengthening the foundation we built in our first year of reporting while continuing to strategically integrate ESG into our business with a look towards the future.”
“This year we tackled three main goals: we conducted our inaugural materiality assessment to align on a multitude of ESG topics with our employees, vendors, investors, community partners and other stakeholders; we developed multi-year ESG goals to commit ourselves to continuous improvement in areas of strategic importance; and we conducted our first climate risk assessment in alignment with the Taskforce on Climate Related Financial Disclosure (TCFD) recommendations and integrated it with our annual Enterprise Risk Management (ERM) process.”
Inaugural ESG Goals:
In 2021, Sunnova formalized its ESG goals, which seek to drive progress on the ESG priority areas for the company, as determined by its first ESG materiality assessment.
Sunnova plans to:
• Build a customer base by year-end 2023 whose systems will offset 52 million MTCO2e over their useful life.
• Quantify and disclose a complete Scope 3 inventory for all material categories of Scope 3 activities and set a climate target that includes all scope emissions by year-end 2023.
• Work to reduce year-over-year voluntary turnover to 15% by 2025.
• Work to improve estimated year-end 2021 racial/ethnic minority representation for mid-level leadership by 20% by 2025.
• Institute a supplier engagement system to quantify ESG impacts for all Tier 1 suppliers by 2023.
• Work to contribute 2,500 total employee volunteer hours to organizations whose causes align with our mission and ESG goals by year-end 2025.