onsemi released its annual Sustainability Report, previously known as the Corporate Social Responsibility (CSR) report. In a continuous effort to remain transparent with our investors, customers, stakeholders and employees, the report was prepared in accordance with the Global Reporting Initiative (GRI), Task Force on Climate-related Financial Disclosures (TCFD) and Sustainability Accounting Standards Board (SASB) standards.
In 2021, onsemi focused on its mission to push innovation to create intelligent power and sensing technologies that solve the most challenging customer problems, while emphasizing its commitment to create a better world for tomorrow. These efforts were recognized as onsemi was awarded eight accolades for 2021 including being listed on the Dow Jones Sustainability Index (North America) for the fourth consecutive year and being named one of the World’s Most Ethical Companies by Ethisphere for the seventh consecutive year.
“onsemi is committed to developing strategies and programs to address global climate change,” said Hassane El-Khoury, president and chief executive officer of onsemi. “We do this in two ways. One by introducing methods to reduce our greenhouse gas emissions and waste, as well as our air and water pollution. And two by creating intelligent power and sensing technologies that support a sustainable ecosystem and enable our customers to achieve their own sustainability goals.”
Highlights from the 2021 Sustainability Report include:
Net-Zero Pledge: To further cement the commitment to corporate sustainability, onsemi has pledged to achieve net-zero emissions by 2040, surpassing the Paris Agreement’s goal by a full decade. This ambitious strategy will focus on three key areas: capitalizing on efficiencies, investing in renewable energy and negating unavoidable emissions through offsets.
Record Sustainable Revenue: In 2021, onsemi reported $5.011B, which equates to almost 75% of its annual revenue, in sustainable product revenue. The company defines that as any products that are a core part of a sustainable ecosystem. This includes solar string inverters, power optimization in cloud and telecommunication infrastructure, lighter and longer-range electric vehicles (EVs) and products that enable efficient fast-charging systems for EVs. Additionally, they must contribute to environmental, social and governance (ESG) efforts toward the triple bottom line – people, planet, profit. The company’s intelligent power and sensing technologies enable emissions reductions and energy efficiencies.
Water and Energy Efficiencies: In 2021, onsemi reduced its energy consumption by 3% and water withdrawal by 5% year over year (YOY). High purity water and reliable energy supply are necessities for semiconductor manufacturing but there is also a need to ensure efficient use of these resources. onsemi frequently identifies efficiency opportunities within its operations and evaluates solutions to reduce water withdrawal and energy use such as recycling water and upgrading tools to be more energy efficient.
Diversity, Equity and Inclusion: onsemi expanded its approach to diversity and inclusion by adding a focus on equity in 2021. The company acknowledges that it is imperative to infuse equity as the integrator for seeking a diverse and inclusive workplace. With renewed emphasis, onsemi is creating access for all employees to have the same opportunities to develop skills consistent with its business objectives and core values. To that end, the company tripled the number of women on the executive staff team while its six employee resource groups continued to grow in numbers and facilitate equity in the workplace by ensuring representation of historically underrepresented communities.
To learn more about onsemi and its CSR initiatives, read the 2021 Sustainability Report