Today, STMicroelectronics, a global leader in semiconductor technology catering to diverse electronics applications, unveils its annual sustainability report, shedding light on its performance throughout 2023 concerning pivotal environmental, social, and governance (ESG) factors. These factors are instrumental in fostering long-term value creation for all stakeholders and ensuring sustainable business growth.
Jean-Marc Chery, President and CEO of STMicroelectronics, underscores the company’s commitment to sustainability as integral to its core values, driving benefits for the company, customers, and society at large. He expresses pride in the strides made in innovation, resilience, employee engagement, and the pursuit of the ambitious target to achieve carbon neutrality on scopes 1 and 2, and partial neutrality on scope 3 emissions by 2027. Chery acknowledges the collaborative efforts of partners and empowered employees in accelerating sustainable transformation across technology and beyond.
Key ESG highlights for 2023 include:
- A remarkable 45% reduction in greenhouse gas (GHG) emissions for scopes 1 and 2 since 2018, surpassing the 40% reduction achieved in 2022.
- Increased sourcing of renewable electricity to 71%, up from 62% in 2022, alongside the signing of a significant power purchase agreement (PPA) in Italy, set to generate 250GWh of renewable energy annually, totaling 3.75TWh over 15 years starting from 2024.
- 96% of the company’s waste was either reused, recovered, or recycled, marking a 1% improvement over 2022.
- Outstanding scores in CDP water security and climate change assessments.
- Substantial investment in research and development (R&D), with 12.2% of net revenues (US$2.1 billion) dedicated to fostering innovation.
- Active involvement in 195 R&D partnerships worldwide.
- Over 610 STEM (Science, Technology, Engineering, and Mathematics) events and initiatives, a 35% increase from 2022, engaging over 100,000 students and educators globally.
- A high employee satisfaction rate, with 87% of employees recommending ST as an excellent workplace, reflecting a 4% increase from 2021.
In 2023, ST prioritized the establishment of voluntary, employee-led Employee Resource Groups (ERGs) to champion inclusion in the workplace. Notably, WISE (Women Inspiring Supporting and Empowering), the first ERG dedicated to women, experienced rapid growth, boasting over 1,400 members across 60 locations.
Furthermore, ST maintained its presence in major sustainability indices such as the Dow Jones Sustainability Indices, FTSE4Good, EuroNext VIGEO Europe 120, CAC 40 ESG, MIB ESG, ISS ESG Corporate Ratings, and Bloomberg Gender Equality Index. It also received an MSCI ESG Rating of AAA.
The 27th annual report provides comprehensive insights into ST’s sustainability performance in 2023, outlining the company’s aspirations and long-term objectives aligned with the United Nations Global Compact Ten Principles, Sustainable Development Goals, and the Science Based Targets initiative (SBTi). The report adheres to Global Reporting Standards (GRI), Sustainability Accounting Standards Boards (SASB), and Task Force on Climate-Related Financial Disclosures (TCFD) guidelines, with third-party verification.
For further details on ST’s sustainability endeavors, visit https://www.st.com/content/st_com/en/about/sustainability.html.
