{"id":527300,"date":"2021-08-12T08:18:09","date_gmt":"2021-08-12T12:18:09","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/first-solar-commits-to-science-based-emissions-targets-net-zero-emissions-by-2050\/"},"modified":"2021-08-12T08:18:09","modified_gmt":"2021-08-12T12:18:09","slug":"first-solar-commits-to-science-based-emissions-targets-net-zero-emissions-by-2050","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/first-solar-commits-to-science-based-emissions-targets-net-zero-emissions-by-2050\/","title":{"rendered":"First Solar Commits to Science-Based Emissions Targets, Net Zero Emissions by 2050"},"content":{"rendered":"

\nAction aligns emissions reduction targets with levels needed for global transition to net-zero economy
\n<\/h2>\n
\n

TEMPE, Ariz., Aug. 12, 2021 (GLOBE NEWSWIRE) — First Solar, Inc. (Nasdaq: FSLR) today announced a commitment to reduce its absolute Scope 1 and Scope 2 greenhouse gas (GHG) emissions by 20 percent by 2028, relative to its emissions in 2020. It has also committed to achieving net zero emissions by 2050 at the latest.<\/p>\n

The science-based targets further the company\u2019s previous 2021 GHG intensity reduction target, which was achieved three years in advance of its commitment. These new targets are in line with international efforts to limit the global temperature rise to below two degrees Celsius and pursuing efforts to limit it to 1.5 degrees Celsius above pre-industrial levels. Scope 1 accounts for direct GHG emissions from company-owned and controlled resources, while Scope 2 accounts for indirect GHG emissions from the generation of purchased electricity consumed by the company.<\/p>\n

Every year, First Solar products deployed globally are displacing more than ten times the amount of greenhouse gas emissions the company emits through its global operations and supply chain, assuming average worldwide irradiance and grid electricity emissions. The company\u2019s advanced photovoltaic (PV) modules feature the industry\u2019s smallest carbon and water footprints, and fastest energy payback time.<\/p>\n

\u201cAs this week\u2019s report from the Intergovernmental Panel on Climate Change showed, we need to treat the threat of climate change with a sense of urgency and do more than simply our part to accelerate the transition to a net-zero economy,\u201d said Mark Widmar, chief executive officer, First Solar. \u201cThe solar industry is on the forefront of the fight against climate change and has a responsibility to lead by example. While First Solar\u2019s technology addresses the need to decarbonize the global energy portfolio with ultra-low carbon solar, today, we\u2019re stepping up and pledging to reduce our already-low emissions to zero by 2050.\u201d<\/p>\n

This commitment is a continuation of First Solar\u2019s progress. Since 2008, company-wide GHG emissions intensity decreased by approximately 77% as a result of increased module efficiency, manufacturing throughput, and capacity utilization, decreased emissions intensity of purchased grid electricity, along with energy conservation and low carbon initiatives. In 2020, the company\u2019s GHG emissions intensity decreased by 31% compared to 2019 primarily due to the greater throughput and enhanced energy efficiency of its Series 6 module manufacturing process.<\/p>\n

First Solar aims to achieve its science-based targets through increased energy efficiency, going 100% renewable across its US operations by 2026 and globally by 2028, working on enabling the offsite solar market in Malaysia and Vietnam, and purchasing bundled RECs and offsets as a last resort, as outlined in its recently published 2021 Sustainability Report<\/a>. The report was developed in accordance with the Global Reporting Initiative\u2019s (GRI) Core Sustainability Reporting Standards and incorporates metrics from the Sustainability Accounting Standards Board (SASB) solar, as referenced in the sustainability leadership standard for PV modules and inverters (NSF\/ANSI 457 \u2013 2019).<\/p>\n

\n About First Solar, Inc.<\/strong>
\n
First Solar is a leading American solar technology company and global provider of responsibly produced eco-efficient solar modules advancing the fight against climate change. Developed at R&D labs in California and Ohio, the company\u2019s advanced thin film photovoltaic (PV) modules represent the next generation of solar technologies, providing a competitive, high-performance, lower-carbon alternative to conventional crystalline silicon PV panels. From raw material sourcing and manufacturing through end-of-life module recycling, First Solar\u2019s approach to technology embodies sustainability and a responsibility towards people and the planet. For more information, please visit www.firstsolar.com.<\/p>\n

\n For First Solar Investors<\/strong>
\n
This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements concerning First Solar\u2019s commitment to reduce its absolute Scope 1 and Scope 2 greenhouse gas (GHG) emissions by 20 percent by 2028, relative to its emissions in 2020, and to achieving net zero emissions by 2050 at the latest. These forward-looking statements are often characterized by the use of words such as \u201cestimate,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cproject,\u201d \u201cplan,\u201d \u201cintend,\u201d \u201cseek,\u201d \u201cbelieve,\u201d \u201cforecast,\u201d \u201cforesee,\u201d \u201clikely,\u201d \u201cmay,\u201d \u201cshould,\u201d \u201cgoal,\u201d \u201ctarget,\u201d \u201cmight,\u201d \u201cwill,\u201d \u201ccould,\u201d \u201cpredict,\u201d \u201ccontinue\u201d and the negative or plural of these words and other comparable terminology. Forward-looking statements are only predictions based on our current expectations and our projections about future events and therefore speak only as of the date of this release. You should not place undue reliance on these forward-looking statements. We undertake no obligation to update any of these forward-looking statements for any reason, whether as a result of new information, future developments or otherwise. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from those expressed or implied by these statements. These factors include, but are not limited to, the matters discussed under the captions \u201cRisk Factors\u201d and \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d of our most recent Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q, as supplemented by our other filings with the Securities and Exchange Commission. \u00a0<\/p>\n\n\n
\n Media<\/strong>
\n
\n Reuven Proen\u00e7a<\/strong>
\n
First Solar Media
reuven.proenca@firstsolar.com<\/a><\/td>\n		\n Investors<\/strong>
\n
\n Mitchell Ennis<\/strong>
\n
First Solar Investor Relations
mitchell.ennis@firstsolar.com<\/a><\/td>\n<\/tr>\n<\/table>\n

A photo accompanying this announcement is available at https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/a664bbc1-6a89-4f33-b69b-bf27ece2816e<\/a>.<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Action aligns emissions reduction targets with levels needed for global transition to net-zero economy TEMPE, Ariz., Aug. 12, 2021 (GLOBE NEWSWIRE) — First Solar, Inc. (Nasdaq: FSLR) today announced a commitment to reduce its absolute Scope 1 and Scope 2 greenhouse gas (GHG) emissions by 20 percent by 2028, relative to its emissions in 2020. It has also committed to achieving net zero emissions by 2050 at the latest. The science-based targets further the company\u2019s previous 2021 GHG intensity reduction target, which was achieved three years in advance of its commitment. These new targets are in line with international efforts to limit the global temperature rise to below two degrees Celsius and pursuing efforts to limit it to 1.5 degrees … <\/p>\n

Continue reading “First Solar Commits to Science-Based Emissions Targets, Net Zero Emissions by 2050”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-527300","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nFirst Solar Commits to Science-Based Emissions Targets, Net Zero Emissions by 2050 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/first-solar-commits-to-science-based-emissions-targets-net-zero-emissions-by-2050\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First Solar Commits to Science-Based Emissions Targets, Net Zero Emissions by 2050 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Action aligns emissions reduction targets with levels needed for global transition to net-zero economy TEMPE, Ariz., Aug. 12, 2021 (GLOBE NEWSWIRE) — First Solar, Inc. 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