Chairman of the Board ESG Statement
TPI is a mission driven company. We recognize that climate change is one of the most pressing issues of our time. We are well positioned and fortunate to be a part of the solution, by advancing the decarbonization of the electric sector and supporting electrification of the vehicle fleet. In 2019, as the only independent composite wind blade manufacturer with a global footprint, we contributed to approximately 18% of the overall 53 GW global onshore wind energy market. Through our role in global clean energy growth, we believe TPI delivers planetary benefits. The wind blades we sold in 2019 have the potential to eliminate 303 million metric tons of CO2 throughout their average 20-year lifespan, equivalent to emissions from over 64 million cars driven for a year with over 751 billion miles driven.
Through our sustainability efforts, we have been positively impacting the communities in which we operate for years, while also improving efficiency and mitigating risk of our operations. We have embedded sustainability practices into our day-to-day operations to safeguard our people and the environment in which they work. We are extremely proud, that in 2019, TPI’s associates contributed over 23,000 hours of volunteered time to serve their communities.
The success and future of our organization depends on our associates and their safety. Safety is more than a priority at TPI, it is our most important Core Value. We are committed to securing the health and safety of our associates globally. This is demonstrated in our 82% decrease in recordable incident and 78% decrease in lost time incident rates over the last four years to 0.39 and 0.21, respectively. Our rates are well below the U.S. Bureau of Labor Statistics 2018 industry average of 2.0 and 0.6 and are key indicators of the effectiveness of our health and safety program.
At TPI, we view sustainability as more than a target, it is a principle that guides us to continuously improve our business and our impacts.
CO2 savings from the wind blades sold are calculated as follows: TPI Sold Estimated MWs x 1000 x Total Lifetime Hours x Estimated Turbine Capacity Factor (DOE/IRENA) x IEA emissions factor of 475 g CO2/kWh