STMicroelectronics released its annual sustainability report, which provides insight into its 2023 performance related to priority environmental, social and governance (ESG) factors that support long-term value creation for all its stakeholders and sustainable growth for its business.

“Sustainability is at the heart of our value proposition, driving benefits for our company, customers, and society. We’re proud of our progress on innovation, resilience, employee engagement and the advancement towards our ambitious goal of becoming carbon neutral on scope 1 and 2, and partially on scope 3, by 2027,” said Jean-Marc Chery, President and CEO, STMicroelectronics. “Together with our partners and empowered employees, we’re accelerating sustainable transformation in technology and beyond.”

ESG highlights during 2023 include:

  • A 45% decrease in GHG emissions for scopes 1 and 2 since 2018 in absolute terms (vs a 40% decrease in 2022).
  • An increased sourcing of electricity coming from renewable sources to 71% (from 62% in 2022) and the signing of a significant power purchase agreement (PPA) in Italy to produce 250GWh renewable energy per year (3.75 TWh over 15 years) starting in 2024.
  • The reuse, recovery, or recycling of 96% of the Company’s waste (1% higher than in 2022).
  • A- scores for CDP water security and climate change.
  • 12.2% of net revenues (US$2.1 billion) invested in R&D to support innovation.
  • Involved in 195 active R&D partnerships worldwide.
  • More than 610 STEM (Science, Technology, Engineering, and Mathematics) events and initiatives (a 35% increase on 2022) reaching over 100,000 students and teachers globally.
  • 87% of employees would recommend ST as a great place to work, 4% higher than in 2021 (when we last had a full survey).
  • In 2023, the company established a strong focus on setting up voluntary, employee-led Employee Resource Groups (ERGs) to promote inclusion in the workplace. WISE (Women Inspiring Supporting and Empowering), the first ERG for women, has grown fast, with some 1,400+ members in 60 locations.

In 2023, ST maintained a strong 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, Bloomberg Gender Equality Index, and received an MSCI ESG Rating of AAA.

The 27th annual report contains highlights and details of ST’s sustainability performance in 2023 and presents the Company’s ambitions and longer-term goals in alignment with both the United Nations Global Compact Ten Principles and Sustainable Development Goals and the Science Based Targets initiative (SBTi). It is aligned with Global Reporting Standards (GRI), Sustainability Accounting Standards Boards (SASB), and Task Force on Climate-Related Financial Disclosures (TCFD). A third party has verified this report.

More information on ST’s sustainability efforts can be found at https://www.st.com/content/st_com/en/about/sustainability.html

Original – STMicroelectronics