Sunrun’s Net-Zero and Emissions Reductions Targets Approved by Science Based Targets Initiative

Rhea-AI Summary

Sunrun (Nasdaq: RUN), the leading U.S. clean energy subscription service provider, has received approval from the Science Based Targets initiative (SBTi) for its greenhouse gas emissions reduction targets and net-zero goal by 2050. The company commits to:

• Reduce absolute scope 1 and 2 emissions by 54.6% by 2033
• Cut scope 3 emissions from purchased goods and services by 61.1% per megawatt of solar energy capacity installed
• Achieve net-zero greenhouse gas emissions across its value chain by 2050
• Reduce absolute scope 1, 2, and 3 emissions by 90% by 2050 from a 2022 base year

Sunrun CEO Mary Powell emphasized the company's commitment to prioritizing these aggressive emission-reduction targets while helping households adopt clean energy solutions through home solar and storage.

SAN FRANCISCO, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Sunrun (Nasdaq: RUN), the nation’s leading provider of clean energy as a subscription service, announced today that its near and long-term greenhouse gas emissions reductions targets have been assessed and approved by the Science Based Targets initiative (SBTi). The SBTi has also verified Sunrun’s net-zero science-based target by 2050.

The SBTi is a corporate climate action organization that enables companies and financial institutions worldwide to play their part in combating the climate crisis. Sunrun’s net-zero target is the most ambitious designation available through the SBTi process.

“We know urgent action is needed to cut global emissions, and we are proud to have Sunrun’s overall net-zero target validated as in line with the climate science with the SBTi,” said Sunrun CEO Mary Powell. “These targets go through careful review, and Sunrun is committed to prioritizing our aggressive emission-reduction targets as we help households across the country adopt a clean energy lifestyle with home solar and storage.”

More on Sunrun’s approved targets:

• The SBTi has validated that Sunrun’s science-based greenhouse gas emissions reductions targets conform with the organization’s criteria and has classified Sunrun’s scope 1 and 2 target ambition as in line with the Paris Agreement’s aim to limit global warming to 1.5 degrees celsius.
• Sunrun has committed to reduce absolute scope 1 and 2 emissions 54.6% by 2033 and to reduce scope 3 emissions from purchased goods and services 61.1% per megawatt of solar energy capacity installed.
• The SBTi has validated that Sunrun’s emissions reductions targets conform with the SBTi Corporate Net Zero Standard.
• Sunrun has committed to reaching net-zero greenhouse gas emissions across its value chain by 2050 and to reduce absolute scope 1, 2 and 3 emissions 90% by 2050 from a 2022 base year.

About the Science Based Targets initiative
The Science Based Targets initiative (SBTi) is a corporate climate action organization that enables companies and financial institutions worldwide to play their part in combating the climate crisis. We develop standards, tools and guidance which allow companies to set greenhouse gas (GHG) emissions reductions targets in line with what is needed to keep global heating below catastrophic levels and reach net-zero by 2050 at latest. The SBTi is incorporated as a charity, with a subsidiary which will host our target validation services. Our partners are CDP, the United Nations Global Compact, the We Mean Business Coalition, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF). Read more at www.sciencebasedtargets.org

About Sunrun
Sunrun Inc. (Nasdaq: RUN) revolutionized the solar industry in 2007 by removing financial barriers and democratizing access to locally-generated, renewable energy. Today, Sunrun is the nation’s leading provider of clean energy as a subscription service, offering residential solar and storage with no upfront costs. Sunrun’s innovative products and solutions can connect homes to the cleanest energy on earth, providing them with energy security, predictability, and peace of mind. Sunrun also manages energy services that benefit communities, utilities, and the electric grid while enhancing customer value. Discover more at www.sunrun.com

Media Contact
Wyatt Semanek
Director, Corporate Communications
press@sunrun.com

Investor & Analyst Contact
Patrick Jobin
SVP, Deputy CFO & Investor Relations Officer
investors@sunrun.com

FAQ

What emissions reduction targets has Sunrun (RUN) set for 2033?

Sunrun has committed to reduce absolute scope 1 and 2 emissions by 54.6% by 2033, as approved by the Science Based Targets initiative (SBTi).

What is Sunrun's (RUN) net-zero target date?

Sunrun has committed to reaching net-zero greenhouse gas emissions across its value chain by 2050, as verified by the Science Based Targets initiative (SBTi).

How much does Sunrun (RUN) plan to reduce its scope 3 emissions?

Sunrun aims to reduce scope 3 emissions from purchased goods and services by 61.1% per megawatt of solar energy capacity installed.

What is Sunrun's (RUN) long-term emissions reduction goal for 2050?

Sunrun has committed to reduce absolute scope 1, 2, and 3 emissions by 90% by 2050 from a 2022 base year.

Who validated Sunrun's (RUN) science-based targets?

The Science Based Targets initiative (SBTi) has validated and approved Sunrun's greenhouse gas emissions reduction targets and net-zero goal.