One in every of Microchip’s Guiding Values is “Skilled Ethics and Social Duty Are Practiced,” which implies that the corporate manages its enterprise and treats its prospects, staff, shareholders, traders, suppliers, channel companions, neighborhood and authorities in a way that exemplifies honesty, ethics and integrity. To show its dedication to this worth and to offer transparency to its staff, prospects and all different stakeholders, Microchip Expertise has launched its 2023 Sustainability Report which particulars its environmental and social influence packages.
Microchip’s Environmental, Social and Governance (ESG) tasks are aligned with its enterprise goals and are applied to catalyze optimistic change all through its worth chain through strategic initiatives, sturdy collaboration with companions and bold objectives. The corporate constantly invests in its world workforce and endeavors to drive financial development, whereas preserving pure assets and paving the way in which for a sustainable tomorrow for future generations.
“Our imaginative and prescient to be the main provider of sensible, related and safe embedded management and processing options features a company dedication to performing in an moral and accountable method. This permeates what we do, from day-to-day operations to moral world provide chains to investing and creating new applied sciences and merchandise to make sure a extra sustainable world,” stated Ganesh Moorthy, president and CEO of Microchip. “Now we have a devoted Sustainability Megatrend staff that’s targeted on empowering innovation for our prospects by means of a variety of merchandise and options that assist scale back energy consumption, improve effectivity and scale back waste.”
The corporate’s 2023 Sustainability Report outlines its ESG efforts and progress throughout 5 tenets, known as Microchip’s 360° Sustainability Method. The 5 tenets embody: Our Firm, Our Planet, Our Provide Chain, Our Merchandise and Our Individuals.
“To guard our planet, we search progressive and significant methods to enhance our environmental influence in 4 important areas: greenhouse fuel emissions, power effectivity, water administration and waste diversion,” stated Ewa Rickey, affiliate director of Microchip’s ESG program. “Our 2023 Sustainability Report demonstrates our dedication to being a very good company citizen, not solely within the communities the place we function however around the globe.”
Highlights of Microchip’s 2023 Sustainability Report
- Microchip’s reaffirmation of its bold goal to attain a 50% discount in Scope 1 and a pair of Greenhouse Fuel (GHG) Emissions by 2030 and to be Internet Zero by 2040
- The finished building of a cutting-edge 3.8 MW floating photo voltaic farm at Microchip’s Thailand facility, accompanied by signing a 20-year Energy Buy Settlement (PPA) to supply 16% of its electrical energy wants from this photo voltaic farm to affirm the corporate’s dedication to sustainable power practices
- The continuing software of Microchip’s Provide Chain Administration Method, which is used to evaluate the practices and ethics of provide chain companions to make sure transparency and reduce danger
- An summary of Microchip’s many initiatives geared toward fostering a various and inclusive office, with a selected concentrate on worker well-being {and professional} improvement
- The corporate’s neighborhood involvement initiatives reminiscent of charitable donations and worker volunteer hours, in addition to its concentrate on STEM schooling and assist for the FIRST® Robotics program
- Microchip’s recognition by quite a few third-party publications and organizations that included rankings as considered one of “America’s Most Accountable Firms” by Newsweek and a “World’s Prime Feminine-Pleasant Firms” by Forbes/Statista
Consistent with the corporate’s Guiding Worth, “Steady Enchancment is Important,” Microchip proactively pursues new avenues to additional scale back its environmental influence, improve its social contributions and strengthen its governance practices. By way of its Sustainability Megatrend staff, the corporate prioritizes creating progressive options and merchandise that may contribute to sustainability ecosystems reminiscent of power era, E-Mobility, sustainable houses and cities. To be taught extra, go to Microchip’s Sustainability Options web site.
To learn Microchip’s 2023 Sustainability Report and to be taught extra about its ESG initiatives, go to the Company Duty web site.