Microchip Releases Its 2023 Sustainability Report Highlighting Its Environmental Stewardship and Social Affect

Considered one 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, workers, shareholders, traders, suppliers, channel companions, neighborhood and authorities in a fashion that exemplifies honesty, ethics and integrity. To exhibit its dedication to this worth and to supply transparency to its workers, 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) initiatives are aligned with its enterprise goals and are carried out to catalyze constructive change all through its worth chain through strategic initiatives, sturdy collaboration with companions and bold objectives. The corporate constantly invests in its international workforce and endeavors to drive financial development, whereas preserving pure sources and paving the best way for a sustainable tomorrow for future generations.

“Our imaginative and prescient to be the main provider of good, linked and safe embedded management and processing options features a company dedication to appearing in an moral and accountable manner. This permeates what we do, from day-to-day operations to moral international provide chains to investing and creating new applied sciences and merchandise to make sure a extra sustainable world,” mentioned Ganesh Moorthy, president and CEO of Microchip. “We’ve a devoted Sustainability Megatrend staff that’s targeted on empowering innovation for our prospects by way of a variety of merchandise and options that assist cut back energy consumption, enhance effectivity and cut back waste.”

The corporate’s 2023 Sustainability Report outlines its ESG efforts and progress throughout 5 tenets, known as Microchip’s 360° Sustainability Strategy. The 5 tenets embrace: Our Firm, Our Planet, Our Provide Chain, Our Merchandise and Our Folks.

“To guard our planet, we search modern and significant methods to enhance our environmental influence in 4 important areas: greenhouse fuel emissions, vitality effectivity, water administration and waste diversion,” mentioned Ewa Rickey, affiliate director of Microchip’s ESG program. “Our 2023 Sustainability Report demonstrates our dedication to being a great company citizen, not solely within the communities the place we function however all over the world.”

Highlights of Microchip’s 2023 Sustainability Report

• Microchip’s reaffirmation of its bold goal to realize a 50% discount in Scope 1 and a couple of Greenhouse Fuel (GHG) Emissions by 2030 and to be Internet Zero by 2040
• The finished development 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 vitality practices
• The continued utility of Microchip’s Provide Chain Administration Strategy, which is used to evaluate the practices and ethics of provide chain companions to make sure transparency and reduce threat
• An outline of Microchip’s many initiatives aimed toward fostering a various and inclusive office, with a selected give attention to worker well-being {and professional} growth
• The corporate’s neighborhood involvement initiatives similar to charitable donations and worker volunteer hours, in addition to its give attention to STEM schooling and help for the FIRST® Robotics program
• Microchip’s recognition by quite a few third-party publications and organizations that included rankings as certainly one of “America’s Most Accountable Corporations” by Newsweek and a “World’s High Feminine-Pleasant Corporations” by Forbes/Statista

In step with the corporate’s Guiding Worth, “Steady Enchancment is Important,” Microchip proactively pursues new avenues to additional cut back its environmental influence, improve its social contributions and strengthen its governance practices. By way of its Sustainability Megatrend staff, the corporate prioritizes creating modern options and merchandise that may contribute to sustainability ecosystems similar to vitality technology, E-Mobility, sustainable properties and cities. To study extra, go to Microchip’s Sustainability Options web site.

To learn Microchip’s 2023 Sustainability Report and to study extra about its ESG initiatives, go to the Company Duty web site.