KSTAR Releases 2023 Environmental, Social, and Governance (ESG) Report, Again Highlighting its Commitment to Sustainable Development

KSTAR News, 2024.5.16

KSTAR, as a leading brand in the power electronics and new energy sections, announced the release of its 2023 Environmental, Social, and Governance (ESG) Report, outlining the company's progress and achievements in the areas of environmental stewardship, social impact, and corporate governance.

The report highlights KSTAR’s unwavering efforts in daily operations and business practices to reduce carbon emissions, increase renewable energy adoption, and support local communities. As a provider of photovoltaic (PV) inverters and energy storage solutions, the company has been at the forefront of clean energy technology and is dedicated to creating a more sustainable future.

With regard to the environmental aspect, KSTAR details its achievements in managing GHG emissions and taking energy-saving measures such as the utilization of clean energy and the introduction of innovative machinery. The company has implemented various initiatives, investing RMB 5,466,300 in environment protection, up by 45% YoY.

Regarding the social realm, KSTAR contributes to rural revitalization and supports public welfare, dedicating 2,478.36 service hours to charitable and volunteer activities. The company actively expands the application of "photovoltaic +" in agriculture, fishery, forestry, and hydropower, promoting green rural development. Concrete actions are taken by the company to aid rural revitalization, increasing job opportunities for locals and ensuring steady household income growth.

The governance content outlines KSTAR’s commitment to robust corporate governance practices. As a listed entity, KSTAR persistently refines the governance structure to underpin enduring growth, establishing a three-tiered ESG management system, ensuring the organic integration of sustainable development practices with the operational activities. The company adheres to strict ethical standards and ensures that its operations are transparent and accountable. KSTAR also prioritizes the health and safety of its employees and works to create a diverse and inclusive work environment.

Product excellence remains a cornerstone for KSTAR. Dedicated to innovation and prioritizing quality, KSTAR steadfastly pursues the development of high-performance, eco-friendly products, with R&D investment reaching RMB 259.1 million in 2023. The patent portfolio encompasses 304 valid patents and 102 software copyrights, with 75 new patents and 26 software copyrights obtained in 2023. Furthermore, KSTAR has received a number of prestigious national honors and certifications, reflecting recognition of its achievements.

"We are excited about the progress we have made in sustainability and look forward to continuing our efforts in the future. At KSTAR, we believe that sustainability is not just a buzzword; it's a core value that drives our decision-making and operations," said Baishan Liu, CEO of KSTAR New Energy. "By focusing on environmental, social, and governance aspects, we believe that KSTAR can better deliver smart energy solutions to customers and play a vital role in shaping a more sustainable world."

For more detailed information about KSTAR’s ESG strategies and achievements, please download the complete report through the following link: https://www.kstar.eu/about/investor-report.html