Nextracker Releases Inaugural Sustainability Report

October 29, 2024 at 16:09 PM EDT

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

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.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241029325359/en/

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.