JinkoSolar wins first SBTi-approved net-zero targets in solar industry

JinkoSolar received SBTi approval for its subsidiary's near and long-term emissions targets, becoming the world's first photovoltaic company with validated net-zero targets. The milestone signals tightening science-based-target expectations for manufacturers, relevant to Indian solar and industrial firms facing investor and supply-chain pressure to validate decarbonization commitments.

JinkoSolar Holding received Science Based Targets initiative (SBTi) approval for the near and long-term emissions reduction goals of its subsidiary Jinko Solar Co., Ltd., becoming the world's first photovoltaic company with officially validated net-zero targets, the second company in mainland China and third in the global semiconductor industry to achieve this status. The SBTi aligns corporate targets with climate science, aiming to halve emissions by 2030 and reach net-zero by 2050. JinkoSolar joined RE100 in late 2019 and committed to SBTi net-zero targets by end-2021. The approved target publishes on January 25, 2024.

The validation most directly affects JinkoSolar and signals rising expectations across the solar manufacturing and semiconductor industries, where over 7,000 companies worldwide, including Tesla, Apple, BASF, Lenovo and Tencent, have committed to the SBTi. As science-based targets become standard business practice indicating competitiveness and ESG responsibility, manufacturers in solar and adjacent supply chains face growing pressure to validate decarbonization roadmaps. JinkoSolar, which became the first PV company to deliver over 200 GW of solar modules in Q4 2023, manufactures roughly one in every eight solar modules globally per IHS Markit estimates.

Solar and industrial manufacturers should monitor the trend toward third-party-validated net-zero targets as a competitive and ESG differentiator, particularly given the SBTi's growing corporate uptake. Indian solar and manufacturing firms can track how SBTi validation influences procurement and investor decisions across global supply chains. Stakeholders should watch for the publication of Jinko Solar's approved net-zero target on the SBTi website on January 25, 2024, and consider the disclosure of climate roadmaps, as Jinko did in its 2022 ESG report.

Key figure — Status: world's first photovoltaic company with SBTi-validated net-zero targets