STMicroelectronics Steps Up Its Sustainability Commitments And Programs

- Advertisement -
  • This includes setting the goal to become carbon neutral by 2027, one of the earliest dates anticipated for any semiconductor company globally, joining the Science Based Targets Initiative
  • It invested 15.2 per cent of revenues ($1.55 billion) in R&D to support innovation

STMicroelectronics has released its 24th sustainability report detailing the 2020 performance. ST’s inclusion, for the first time in 2020, in the CDP “A list” for climate change recognizes the company’s commitments and actions. This includes setting the goal to become carbon neutral by 2027, one of the earliest dates anticipated for any semiconductor company globally, joining the Science Based Targets Initiative (SBTi). By the end of 2020, ST was the only semiconductor company with approved targets to limit warming to no more than 1.5°C. It also includes purchasing 40 per cent of electricity coming from renewable sources, representing an increase of 50 per cent compared to 2019, with the commitment to use 100 per cent renewable energy by 2027.

Jean-Marc Chery, President and CEO, STMicroelectronics said, “Since early 2020 the world has changed, with the pandemic reshaping how we live, work and communicate. During these tough times, ST showed resilience at all levels, while continuing to create technology for a sustainable world in a sustainable way and to generate long-term value for our people and all stakeholders. In December 2020, we took an important step to accelerate our efforts with the announcement of our commitment to become carbon neutral by 2027. To achieve this very ambitious target we have built a comprehensive program and will mobilise the support of expert partners and stakeholders in a collaborative approach.”

Invested 15.2 per cent of revenues ($1.55 billion) in R&D to support innovation

- Advertisement -

To put people’s health at a priority in the pandemic, the company deployed the most stringent measures to protect the health and safety of employees who worked at ST sites to ensure continuity of operations, in line with global and local regulations. It enabled 15,000 employees to work from home. ST provided a new employee assistance program named ‘STCare’ to help them manage the constraints of working remotely. It donated in-kind and cash to support hospitals and protect stakeholders and increased the employee engagement score in 2020 with 81 per cent of employees recommending ST as a great place to work (+ 4 points vs 2019). It increased by 49 per cent in 2020 vs 2019 the number of suppliers audited according to the RBA standard and methodology.

It invested 15.2 per cent of revenues ($1.55 billion) in R&D to support innovation and produced 63 per cent of new products identified as ’responsible’ 18.5 per cent of total revenues were generated by ST’s responsible-products portfolio. It continued to progress on strategic programs based on Silicon Carbide- and Gallium Nitride- based technologies and products targeting improved energy efficiency and performance across all end-markets ST serves. It developed open innovation with 143 active R&D partnerships around the world.

The 24th report contains highlights and details of ST’s sustainability performance in 2020 and presents the its ambitions and longer-term goals for 2025 in alignment with the United Nations Global Compact Ten Principles and Sustainable Development Goals. It is aligned with Global Reporting Standards (GRI), Sustainability Accounting Standards Boards (SASB), and Task Force on Climate-Related Financial Disclosures (TCFD).

- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

Indian Automobile Industry Value Surges 19% In FY 2023-24

0
India's vehicle production grew by 10%, with a 19% increase in value.  The UV + SUV segment saw the highest growth, with a 23% rise...

Deadstock Or Forgotten Treasure?

0
In a world where technology is advancing at a breakneck speed, are the deadstock electronics components in your warehouse on the verge of becoming...

Breathing Through “First-Time Silicon Success”

0
No one is born a leader, but the choices we make in life propel us to become a leader. For Chitra Hariharan, an innocent...

Buzz

Vitesco Debuts Single-Module Rotor Lock Actuator For EVs

0
Integration of park lock, rotor position sensing, and brush system into a single module for electric axles simplifies design, reduces space requirements, and lowers...

Indian Automobile Industry Value Surges 19% In FY 2023-24

0
India's vehicle production grew by 10%, with a 19% increase in value.  The UV + SUV segment saw the highest growth, with a 23% rise...

Goenka Green’s ElectroRide To Raise $10-15M In FY25, Expanding To 4Ws

0
Electroride has set ambitious goals for FY25 to expand its business significantly. The company targets a revenue range of USD 12-15 million in FY25...

Important Sectors

Vitesco Debuts Single-Module Rotor Lock Actuator For EVs

0
Integration of park lock, rotor position sensing, and brush system into a single module for electric axles simplifies design, reduces space requirements, and lowers...

Goenka Green’s ElectroRide To Raise $10-15M In FY25, Expanding To 4Ws

0
Electroride has set ambitious goals for FY25 to expand its business significantly. The company targets a revenue range of USD 12-15 million in FY25...

MAHLE Launches X30 Drive System For Electric Bikes

0
The system maintains compatibility with all components, accessories, and the digital ecosystem of the existing X20 system. MAHLE SmartBike Systems has unveiled its X30 drive...

MeitY Plans Billion-Dollar Subsidy Scheme For Component Manufacturing

0
Reports indicate that the Government will offer subsidies for lands obtained to manufacture electronics components in categories where the investment-to-output ratio is not high. The...

Government Revamps PLI Scheme To Boost Telecom Manufacturing

0
The government revamps the PLI scheme for the telecom sector, boosting exports and incorporating more MSMEs, with increased allocation from Rs 1,000 crore to...

Manufacturing

Deadstock Or Forgotten Treasure?

0
In a world where technology is advancing at a breakneck speed, are the deadstock electronics components in your warehouse on the verge of becoming...

Honeywell Creates AI Software For Gigafactory Efficiency

0
Honeywell anticipates that its new battery manufacturing excellence platform will lower the costs of cell production, speed up the ramp-up cycles, and decrease material...

Raju B Ketkale Named CEO Of Lumax Industries

0
He takes over from Vishnu Johri, who is stepping down for personal reasons. Lumax Industries Limited, a Tier-1 automotive lighting system and component manufacturer within...

Schaeffler And Symbio JV Innoplate Starts Fuel Cell Plate Production

0
Starting with an initial production capacity of 4 million bipolar plates, the Innoplate joint venture is projected to achieve an annual output of 50...

Tesla Pushes Suppliers To Source Parts Beyond Taiwan And China

0
China and Taiwan are major global producers of essential electronics parts and components. Tesla has requested that its suppliers move the production of components and...