This article is reporting on the 2023 year. In future years, we will release our ESG report in mid-year.
As a forward-thinking renewable energy company, PureSky Energy is deeply committed to Environmental, Social, and Governance (ESG) principles. These goals are the backbone of the company’s mission to drive the transition to renewable energy while supporting the communities and ecosystems where their solar projects operate. These goals are more than what we’ve aimed to accomplish in 2023, it’s about how we can model a path forward, at the intersection of creating lasting value and sustainable growth.
Below, we outline PureSky Energy’s ESG priorities, and the initiatives designed to achieve them.
Environmental Goals
1. Expanding Renewable Energy Capacity:
PureSky Energy aims to accelerate the deployment of solar power across the U.S. to reduce reliance on fossil fuels. With solar farms in key markets like New York and expanding into newer markets such as Illinois, the company is scaling up its clean energy portfolio to address global energy needs sustainably.
In 2023, we generated more than 148 GWh1 of solar energy from 32 sites and 4 with battery storage: Enough to power 20,770 homes over the year and brought clean energy to communities often excluded from the green transition. Through the end of 2026, we have set ourselves a target of increasing our renewable energy capacity by 340%.
2. Reducing Carbon Footprint:
By focusing on efficient solar technology and sustainable construction practices, PureSky minimizes the environmental impact of its operations. In 2023, we started tracking our scope 1, 2 and 3 emissions as a company, using GRESB standards of reporting.
As a renewable energy company, we generate more renewable energy than we consume. Our solar farms have offset the equivalent of 254 million pounds of Co2 in 2023. That’s the equivalent of removing 23,248 cars from the road for a year.2
3. Biodiversity and Land Stewardship:
PureSky integrates ecological preservation into project planning by conducting thorough environmental assessments and implementing measures to protect local flora and fauna. For example, the company prioritizes co-location practices, such as planting pollinator-friendly vegetation beneath solar arrays.
In 2023, we had a net habitat gain of nearly 123 hectares, just exceeding our target for the year. For the subsequent year, we are targeting a 17% increase in net habitat gain.
Social Goals
1. Community Engagement and Support:
PureSky Energy works closely with local communities surrounding its solar projects, offering educational initiatives and economic opportunities. The company supports community solar legislation, enabling more households and businesses to access affordable clean energy.
We dedicated over 100 hours to community service projects in 2023, ranging from cleanups to education programs.
2. Workforce Development:
Recognizing the need for professional development in the renewable energy sector, PureSky is invested in workforce training programs, networking opportunities, and training specifically on sustainability.
We discovered that in 2023, we could do a lot better, with 14% of employees engaged in professional training and 3% in sustainability specific training. For 2024, we aim to have all 100% have training in sustainability-best practices.
3. Promoting Energy Equity:
PureSky is committed to expanding solar access to underserved communities, ensuring equitable participation in the benefits of renewable energy. Several of our solar farms are participating in programs that encourage solar energy expansion for all, including Solar for All in New York.
Governance Goals
1. Transparency and Accountability:
In its first year of submitting to the Global Real Estate Sustainability Benchmark (GRESB), PureSky achieved a score of 84, commendable for a first-year submission. The company is focused on improving this score annually by strengthening its reporting and sustainability metrics.
One of the ways we stay accountable is through regular feedback from our employees on leadership. In 2023, we had one company-wide survey with a 76% response and a Net Promoter Score of 25%. Our leadership team takes that feedback and incorporates it into improving best practices in the company.
2. Ethical Business Practices:
Under the leadership of CEO Jared Donald, PureSky maintains high standards of governance. The company emphasizes ethical operations, compliance with regulations, and fostering a culture of integrity among its employees and stakeholders.
3. Long-Term Value Creation:
PureSky Energy’s governance framework is designed to ensure sustainable growth and long-term value for stakeholders. By aligning financial performance with ESG priorities, the company demonstrates its commitment to responsible business practices.
Looking Ahead to PureSky's ESG Commitment
PureSky Energy is steadfast in its mission to be a leader in renewable energy and a model for ESG excellence. By focusing on measurable outcomes and maintaining a collaborative approach with stakeholders, the company aims to make a meaningful impact in the fight against climate change while fostering social and economic progress.
As the renewable energy landscape evolves, PureSky Energy will continue to refine and expand its ESG goals, setting a high standard for sustainability in the industry.
Footnotes
1. All numbers in this report, unless indicated otherwise, were submitted to GRESB for the 2023.
2. EPA Calculator was used to calculate the equivalent of CO2 avoided and cars driven for a year.
