Our first Corporate Responsibility Report
As a climate-focused company, we’re defined not only by the environmental impact we create, but also by how we create that impact. That’s why we’re excited to publish our inaugural Corporate Responsibility Report.
The purpose of these reports is to provide visibility into our impact and our process, so that we can celebrate where we thrive and better understand and address where we want to improve. By creating this transparency with our employees, investors, partners, and customers we are committing to being held accountable. We aim to be a leader in best practices, which is why we are committed to publishing these reports annually as we continue to connect the clean energy future.
Several highlights can be found below, and we encourage you to download the full report here. The following stats, also featured in the report, highlight our performance as a company specifically during 2022:
- Our Arc platform spanned 300+ enterprise customers with coverage of over 95 percent of US utility data
- Community solar helped provide ~260 million kWh of solar energy to Arcadia’s subscribers and prevented ~179k tons of CO2 from being emitted
- Arcadia’s public policy team played a pivotal role in creating community solar programs in Virginia, California, New Mexico, and Delaware.
- We improved verification for low-to-moderate income (“LMI”) subscribers and subscribers in historically disadvantaged communities in virtually every active market, with ~14% of Arcadia’s subscribers coming from LMI households, amounting to over 24k LMI subscribers.
- Demographically, 38 percent of Arcadia employees identify as female and approximately 30 percent as Black, Hispanic, Indigenous, and Asian.
- At end of 2022, Arcadia’s Board had eleven members, including five independent members, four women, and three members from underrepresented groups.
- In FY 2022, Arcadia's emissions totaled 43 tCO2e for scope 1, 322 tCO2e for scope 2, and 8,462 tCO2e for scope 3.
We have chosen to report on our corporate responsibility practices in line with our company values — build for simplicity, build for all, build with urgency, build together, and build for good — in order to ensure that best practices are integrated into every part of the business. As this structure is authentic and unique to our company, we plan to follow this format as we report each year. This will allow for easy tracking and transparency of where we have been able to improve and expand within the values we have committed ourselves to.
We’re thrilled to share this look at our current operating state, but we’re also excited to open the door to new ideas. We plan to expand internal programming not only to optimize our impact on the environment, but also to establish best-in-class social and governance standards. As we share at the end of the report, we’re "excited to embark on another year of growth and progress toward a more sustainable future."