Nextracker Releases Inaugural Sustainability Report

Rhea-AI Summary

Nextracker (NXT) has released its first Sustainability Report for 2024, marking a significant milestone since becoming independent in January 2024. The report outlines the company's comprehensive Environmental, Social, and Governance (ESG) strategy and achievements, including completion of its first materiality assessment.

Key highlights include environmental initiatives such as ISO 14001 certification in Brazil, emissions measurement, and climate risk assessment. Social achievements encompass ISO 45001 certification for U.S. operations, DEI policies, and community programs. The company has established governance structures including an ESG Executive Council and is committed to the Science Based Targets initiative (SBTi) for emissions reduction.

• First Sustainability Report since becoming a fully independent company in January 2024, highlighting Nextracker’s commitment to corporate responsibility and its mission to make clean, affordable renewable energy accessible to all
• Report features insights from the company’s first materiality assessment, guiding the development of a robust Environmental, Social, and Governance (ESG) strategy

FREMONT, Calif.--(BUSINESS WIRE)-- Nextracker (Nasdaq: NXT) today released its inaugural Sustainability Report for 2024. This report outlines Nextracker's progress in building a comprehensive ESG program and strategy. The report also reflects the Company’s commitment to sustainability, highlighting key milestones such as the completion of its first materiality assessment.

Nextracker Inaugural Sustainability Report 2024 (Graphic: Nextracker)

“Our inaugural Sustainability Report is a significant milestone that reflects our commitment to ambitious ESG standards, further fueling our vision and mission,” said Dan Shugar, founder and CEO of Nextracker. “At Nextracker, we have embedded strong ESG principles across our global operations and business execution. We are proud to advance sustainability, foster social responsibility, and deliver long-term value for our stakeholders.”

Nextracker is committed to setting future sustainability targets, including long-term, company-wide emissions reductions aligned with climate science and the Science Based Targets initiative (SBTi). To drive this effort forward, Nextracker has built a robust sustainability team with deep industry expertise, guiding ESG initiatives across every stage of its customers’ project lifecycle and operations. This commitment positions Nextracker at the forefront of technology innovation, advancing both its mission and the broader energy transition.

The 2024 Sustainability Report is available on Nextracker’s website to explore interactively and as a downloadable PDF.

The report marks Nextracker’s first independent alignment with the Sustainability Accounting Standards Board (SASB) standards for the Electrical and Electronic Equipment Industry and reflects its adherence to the United Nations Sustainable Development Goals (SDGs).

2024 Sustainability Report Highlights

Environmental

• Published an official Environmental Policy
• Completed Climate Risk Assessment
• Achieved ISO 14001 Environmental Management System certification in Brazil
• Measured and inventoried Scope 1, 2, and 3 emissions
• Achieved third-party¹ assurance for Scope 1 and 2 emissions for CY2023

Social

• Earned the ISO 45001 Occupational Health and Safety certification for U.S. operations
• Published key policies on Workplace Health and Safety, and Diversity, Equity, and Inclusion (DEI)
• Established a DEI and culture leadership role to further champion inclusivity
• Expanded community programs and staff volunteerism, focused on energy equity in rural health clinics and schools, clean energy workforce development, and developing the next generation of clean energy leaders
• Launched employee-led resource groups to foster an inclusive culture worldwide

Governance and Accountability

The report underscores Nextracker’s commitment to ethical governance, essential to responsible business operations. Aligned with UN Sustainable Development Goal 16, the company emphasizes transparency, accountability, and continuous improvement. Key governance highlights include:

• Board of Directors Oversight: Diverse perspectives guiding decision-making
• ESG Executive Council: Led by an executive sponsor to ensure top-level sustainability leadership
• ESG Steering Committee: Participation from cross-functional teams to drive forward sustainability and ESG initiatives

For more information on Nextracker’s governance, visit Investor Relations.

About Nextracker

Nextracker is a leading provider of intelligent, integrated solar tracker, foundations, and software solutions used in utility-scale and ground-mounted distributed generation solar projects around the world. Our products enable solar PV power plants to follow the sun’s movement across the sky and optimize plant performance. With power plants operating in more than forty countries worldwide, Nextracker offers solar tracker technologies that increase energy production while reducing costs for significant plant ROI. For more information, please visit Nextracker.com.

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¹ TUV third party assurance for Nextracker, 2024.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241029325359/en/

Investors, Financial Media

Mary Lai

VP, Investor Relations, Financial Comm., ESG

investor@nextracker.com

Media

Kristan Kirsh

SVP, Global Marketing

Media@nextracker.com

Source: Nextracker

FAQ

What are the key environmental achievements in Nextracker's 2024 Sustainability Report?

Nextracker's environmental achievements include obtaining ISO 14001 certification in Brazil, completing a Climate Risk Assessment, publishing an Environmental Policy, measuring Scope 1, 2, and 3 emissions, and achieving third-party assurance for Scope 1 and 2 emissions for CY2023.

How is Nextracker (NXT) addressing social responsibility in its 2024 report?

Nextracker is addressing social responsibility through ISO 45001 Occupational Health and Safety certification in U.S. operations, implementing DEI policies, establishing DEI leadership roles, expanding community programs, and launching employee-led resource groups globally.

What governance structures has Nextracker implemented according to its 2024 Sustainability Report?

Nextracker has implemented a Board of Directors with diverse perspectives, an ESG Executive Council led by an executive sponsor, and an ESG Steering Committee with cross-functional team participation to drive sustainability initiatives.

Which sustainability standards does Nextracker's 2024 report align with?

The report aligns with the Sustainability Accounting Standards Board (SASB) standards for the Electrical and Electronic Equipment Industry and the United Nations Sustainable Development Goals (SDGs).