SOURCE: 3BL Alerts
DESCRIPTION:
STMicroelectronics (NYSE:STM), a global semiconductor leader serving customers across the spectrum of electronics applications, announced the release of its 24th sustainability report detailing the 2020 performance.
“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 mobilize the support of expert partners and stakeholders in a collaborative approach.” said Jean-Marc Chery, President and CEO, STMicroelectronics.
For more than 25 years, sustainability has been an integral part of STMicroelectronics’ DNA, values and business model. Working together with customers and partners, ST creates innovative technologies that bring an important contribution to overcome the environmental and social challenges of the planet today.
Protecting the environment
ST has been actively working on reducing its environmental footprint through dedicated programs for many years. ST’s inclusion, for the first time in 2020, in the CDP 'A list' for climate change recognizes the company’s commitments and actions, including:
- 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[1]). By the end of 2020, ST was the only semiconductor company with approved targets to limit warming to no more than 1.5°C;
- Purchasing 40% of electricity coming from renewable sources, representing an increase of 50% compared to 2019, with the commitment to use 100% renewable energy by 2027.
Putting people first
Facing the COVID-19 pandemic, ST’s priority has been to protect its 46,000 employees, who in the past year, even more than ever, demonstrated their resilience as well as their commitment to the communities in which they live and work:
- 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;
- Donated in-kind and cash to support hospitals and protect stakeholders;
- Increased the employee engagement score in 2020 with 81% of employees recommending ST as a great place to work (+ 4 points vs 2019);
Creating innovation inspired by customers’ needs
ST continues to create a funnel of innovation that allows the development of the market-leading products and solutions that enable ST’s customers to fuel future growth. This allows ST to continue pushing the boundaries of disruption in technologies and applications, in line with ST’s strategic objectives:
- Produced 63% of new products identified as ’responsible’[2]; 18.5% of total revenues were generated by ST’s responsible-products portfolio;
- Invested 15.2% of revenues (US$1.55 billion) in R&D to support innovation;
- Created a new Innovation Office increasing both internal and external talent scouting and cooperation capabilities to sustain, stimulate, and facilitate the process of continuous innovation;
The 24th report contains details of ST’s sustainability performance in 2020 and the Company’s ambitions and long-term goals 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). This report has been verified by a third party.
The 2021 Sustainability Report (2020 performance) can be viewed here and downloaded as a PDF here.
About STMicroelectronics
At ST, we are 46,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An independent device manufacturer, we work with more than 100,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of the Internet of Things and 5G technology. Further information can be found at www.st.com.
For further information, please contact the CSR team at sustainable.development@st.com
[1] The Science Based Targets initiative is a collaboration between the Carbon Disclosure Project (CDP), the World Resources Institute (WRI), the World Wide Fund for Nature (WWF), and the United Nations Global Compact (UNGC). It encourages companies to set targets for reducing Greenhouse Gas emissions based on scientific data, in order to meet the goals of the COP 21 Paris Agreement. It already includes more than 1,000 companies worldwide.
[2] Responsible products are products that provide environmental and social benefits.
KEYWORDS: STMicroelectronics, ReportAlert
