Paragon Reinforces ESG Leadership by Unveiling One of Britain's Largest Private Solar Installations

Paragon today announced the successful completion and activation of a state-of-the-art solar panel installation at our Dagenham facility. This project, one of the largest private solar installations in Britain, underscores our unwavering commitment to Environmental, Social, and Governance principles and demonstrates how we are proactively exceeding evolving regulatory requirements and setting a new benchmark for corporate sustainability.

As businesses grapple with the growing demands of ESG reporting and stricter regulations, we have taken a decisive step to not just comply, but to lead. This move directly addresses frameworks like the Task Force on Climate-related Financial Disclosures and preempts the upcoming UK Sustainability Reporting Standards.

"The primary motivation behind the Dagenham solar installation was to significantly enhance Paragon's sustainability credentials and contribute to its broader environmental goals," said Lucy Klinkenberg, Group ESG Director at Paragon. 

"The new system is projected to generate an impressive 1.6 million kWh of self-generated electricity annually, leading to a substantial reduction of approximately 20% (331 tons) in Scope 2 carbon emissions a year. Beyond the immediate environmental benefits, this investment also bolsters Paragon's energy independence, mitigating exposure to volatile market energy prices and securing a more sustainable operational future." 

This project is a cornerstone of Paragon Group's wider ESG efforts:

• It covers over 7,500 square metres of roof space.
• It features a whopping 3,680 individual solar panels.
• This project is a key part of the Group's Carbon Net Zero target, aiming to cut Scope 2 emissions by 90% before 2030.
• Paragon is currently looking into putting similar solar setups at other suitable sites they own.
• To keep staff engaged, there are plans for a digital display at Dagenham, showing live data on how much solar energy is being generated.

"The completion of our Dagenham solar installation marks a pivotal moment in Paragon's sustainability journey," said David Phillips, business line Chief Operating Officer at Paragon UK. 

"We are immensely proud to implement one of the largest private solar arrays in the UK, significantly reducing our carbon footprint and driving us closer to our ambitious Net Zero targets. This investment is not just good for the planet; it's good for our business and our stakeholders. We implement locally to impact nationally."