Microchip Releases Its 2023 Sustainability Report Highlighting Its Environmental Stewardship and Social Impact
June 26 2024 - 8:00AM
One of Microchip’s Guiding Values is “Professional Ethics and
Social Responsibility Are Practiced,” which means that the company
manages its business and treats its customers, employees,
shareholders, investors, suppliers, channel partners, community and
government in a manner that exemplifies honesty, ethics and
integrity. To demonstrate its commitment to this value and to
provide transparency to its employees, customers and all other
stakeholders, Microchip Technology
(Nasdaq: MCHP)
has released its
2023 Sustainability Report which
details its environmental and social impact programs.
Microchip’s Environmental, Social and Governance (ESG) projects
are aligned with its business objectives and are implemented to
catalyze positive change throughout its value chain via strategic
initiatives, strong collaboration with partners and ambitious
goals. The company consistently invests in its global workforce and
endeavors to drive economic growth, while preserving natural
resources and paving the way for a sustainable tomorrow for future
generations.
“Our vision to be the leading supplier of smart, connected and
secure embedded control and processing solutions includes a
corporate commitment to acting in an ethical and responsible way.
This permeates what we do, from day-to-day operations to ethical
global supply chains to investing and developing new technologies
and products to ensure a more sustainable world,” said Ganesh
Moorthy, president and CEO of Microchip. “We have a dedicated
Sustainability Megatrend team that is focused on empowering
innovation for our customers through a wide range of products and
solutions that help reduce power consumption, increase efficiency
and reduce waste.”
The company’s 2023 Sustainability Report outlines its ESG
efforts and progress across five tenets, referred to as Microchip’s
360° Sustainability Approach. The five tenets include: Our Company,
Our Planet, Our Supply Chain, Our Products and Our People.
“To protect our planet, we seek innovative and meaningful ways
to improve our environmental impact in four essential areas:
greenhouse gas emissions, energy efficiency, water management and
waste diversion,” said Ewa Rickey, associate director of
Microchip’s ESG program. “Our 2023 Sustainability Report
demonstrates our dedication to being a good corporate citizen, not
only in the communities where we operate but around the world.”
Highlights of Microchip’s 2023 Sustainability
Report
- Microchip’s reaffirmation of its ambitious target to achieve a
50% reduction in Scope 1 and 2 Greenhouse Gas (GHG) Emissions by
2030 and to be Net Zero by 2040
- The completed construction of a cutting-edge 3.8 MW floating
solar farm at Microchip’s Thailand facility, accompanied by signing
a 20-year Power Purchase Agreement (PPA) to source 16% of its
electricity needs from this solar farm to affirm the company’s
commitment to sustainable energy practices
- The ongoing application of Microchip’s Supply Chain Management
Approach, which is used to assess the practices and ethics of
supply chain partners to ensure transparency and minimize risk
- An overview of Microchip’s many initiatives aimed at fostering
a diverse and inclusive workplace, with a particular focus on
employee well-being and professional development
- The company’s community involvement initiatives such as
charitable donations and employee volunteer hours, as well as its
focus on STEM education and support for the FIRST® Robotics
program
- Microchip’s recognition by numerous third-party publications
and organizations that included ratings as one of “America’s Most
Responsible Companies” by Newsweek and a “World’s Top
Female-Friendly Companies” by Forbes/Statista
In line with the company’s Guiding Value, “Continuous
Improvement is Essential,” Microchip proactively pursues new
avenues to further reduce its environmental impact, enhance its
social contributions and strengthen its governance practices.
Through its Sustainability Megatrend team, the company prioritizes
developing innovative solutions and products that can contribute to
sustainability ecosystems such as energy generation, E-Mobility,
sustainable homes and cities. To learn more, visit Microchip’s
Sustainability Solutions website.
To read Microchip’s 2023 Sustainability Report and to learn more
about its ESG initiatives, visit the Corporate
Responsibility website.
Resources
High-res images available through Flickr or editorial contact
(feel free to publish):
- PR image:
www.flickr.com/photos/microchiptechnology/53776309978/sizes/l
- Application image:
www.flickr.com/photos/microchiptechnology/53776433779/sizes/l
About Microchip
Technology:Microchip Technology Inc. is a
leading provider of smart, connected and secure embedded control
and processing solutions. Its easy-to-use development tools and
comprehensive product portfolio enable customers to create optimal
designs which reduce risk while lowering total system cost and time
to market. The company’s solutions serve approximately 123,000
customers across the industrial, automotive, consumer, aerospace
and defense, communications and computing markets. Headquartered in
Chandler, Arizona, Microchip offers outstanding technical support
along with dependable delivery and quality. For more information,
visit the Microchip website at
www.microchip.com.
Note: The Microchip name and logo, the Microchip logo are
registered trademarks of Microchip Technology Incorporated in the
U.S.A. and other countries. All other trademarks mentioned herein
are the property of their respective companies.
Editorial Contact: |
Reader Inquiries: |
Kim Dutton |
1-888-624-7435 |
480-792-4386 |
|
kim.dutton@microchip.com |
|
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