NXP Semiconductors (NXP) has published its annual Corporate Sustainability Report (CSR), highlighting its progress, accountability and ongoing commitment to further sustainable business practices.
Kurt Sievers, President and CEO, NXP, said, “Technology innovation is a key element in NXP’s DNA, driving positive change, sustainable growth, and ultimately our passion to enable a better, safer, more secure world.”
Last year, NXP announced its mid and long-term ESG goals, including reducing its carbon footprint by 35% by 2027 and becoming a carbon-neutral company by 2035. In early 2022, the company formally committed to the Science Based Targets initiative (SBTi) and appointed the company’s first Chief Sustainability Officer, Jennifer Wuamett.
Climate & Environment
The company noted that it continued its efforts to limit the emission of greenhouse gasses (GHGs) in 2022 and succeeded in reducing its normalised carbon footprint (Scope 1 & 2 emissions) by 9% compared to 2021. It also increased its renewable electricity usage from 31% in 2021 to 35% in 2022.
The semiconductor company is working to reduce its impact on water supplies by increasing its water recycling rate. Almost half (48%) of the total water the company used in 2022 was recycled. In 2022, NXP updated its roadmap to achieve a longer-term goal of reaching a water recycling rate of 60% by 2027.
Diversity, Equality & Inclusion
The NXP Diversity Council was created in August 2022 to serve as an advocate, resource and governing entity to advance the company's global, strategic diversity, equality, and inclusion initiatives. To make measurable progress, it has established aspirational goals for diverse representation by 2025 with interim milestones of achievement, including 25% women in research and development by 2025 and 50% underrepresented minorities in the US workforce by 2025
In May 2022, the company issued a third Green Innovation Bond for $1 billion, enabling communities globally to invest in sustainability activities.
Jennifer Wuamett, Executive Vice President, General Counsel, and Chief Sustainability Officer, NXP, said, “Our mission and strategy are dedicated to continuous improvement reflected in how we design and manufacture our technology and how we make the communities in which we work and live better.”
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