2040 Emissions Goal for onsemi
September 22, 2021 at 05:15 AM EDT
onsemi has committed to achieving net-zero emissions by 2040 and we are implementing an aggressive strategy to reach this goal. But what does net zero mean? How does this compare to what our competitors and other companies are doing around climate change?
Not all climate pledges are created equally. You have likely seen companies commit to being carbon neutral or net zero, but what is the difference?
With this commitment, we have set the most ambitious goal among our competitors and will surpass the Paris Agreement’s goal by a full decade. Our strategy has been developed in partnership with BSR, a global nonprofit organization that works with its network of more than 250 member companies to develop sustainable business strategies and solutions through consulting, research and cross-sector collaboration. Our strategy is broken down into three pillars:
The corporate social responsibility (CSR) team will work closely with the environmental health and safety, and facilities teams to ensure processes and frameworks are in place to measure our progress against our net-zero goal. Our CSR Report will be a key resource for anyone wanting to see our progress. You will notice that we report our emissions on a scope 1, 2 and 3 basis. The scope of the emissions tells us what kind of emission they are and how they relate to our business operations:
All of our emissions data is verified by a third-party company, Trucost. Trucost, a subsidiary of S&P Global, is a leader in carbon and environmental data and risk analysis. You can read our assurance statement on pages 47-48 of our 2020 CSR Report.
While there is going to be some learning around our net-zero goal and it might take time to see results, we will measure our progress and we will do better. We have a plan and are dedicated to its execution from the top down. Committing to net-zero is the right thing to do.
Please visit the onsemi Climate and Sustainability Web page to read more about how the company is committed to a greener tomorrow.
Tweet me: As leaders in the #industrial and #automotive industries, @onsemi understands that reducing our carbon footprint should be at the forefront of our mission. By 2040, we aim to achieve net-zero emissions. #weAREonsemi #CSRChampions https://bit.ly/3lIHWdO
KEYWORDS: Nasdaq:ON, ON Semiconductor, onsemi, Emissions Goal for onsemi, Emissions, net-zero, GHG