NXP Reinforces Commitment to Environmental, Social and Governance Goals in Annual Corporate Sustainability Report
EINDHOVEN, The Netherlands, April 05, 2023 (GLOBE NEWSWIRE) — NXP Semiconductors N.V. (NASDAQ: NXPI) has published its annual Corporate Sustainability Report (CSR), highlighting its progress, accountability and ongoing commitment to further sustainable business practices. The report outlines the company’s year-over-year progress in reaching its short and long-term Environmental, Social, and Governance (ESG) goals.
“Technology innovation is a key element in NXP’s DNA, driving positive change, sustainable growth, and ultimately our passion to enable a better, safer, more secure world,” said Kurt Sievers, president and CEO of NXP. “We are proud of the goals we’ve set, the progress we’ve made, and look forward to advancing our commitment to sustainability through measurable, impactful results.”
NXP is committed to advancing and realizing its ESG goals in collaboration with employees, partners, governments, clients and customers globally. Last year, NXP announced its mid- and long-term ESG goals, including reducing carbon footprint 35% by 2027 and becoming a carbon-neutral company by 2035. In early 2022, NXP formally committed to the Science Based Targets initiative (SBTi) and appointed the company’s first Chief Sustainability Officer, Jennifer Wuamett.
“Our mission and strategy are dedicated to continuous improvement reflected in how we design and manufacture our technology and how we make the communities in which we work and live better,” said Jennifer Wuamett, Executive Vice President, General Counsel, and Chief Sustainability Officer at NXP. “This report illustrates meaningful progress towards achieving carbon neutrality in our operations and prioritizing sustainability at every level.”
Read NXP’s 2022 Corporate Sustainability Report.
The company’s 2022 ESG achievements and future aspirations include:
Climate and Environment – NXP continued efforts to limit the emission of greenhouse gasses (GHGs) in 2022 and succeeded in reducing its normalized carbon footprint (Scope 1 & 2 emissions) by 9% compared to 2021. NXP also increased its renewable electricity usage from 31% in 2021 to 35% in 2022.
NXP is working to reduce its impact on water supplies by increasing its water recycling rate. Almost half (48%) of the total water the company used in 2022 was recycled. In 2022, NXP updated its roadmap to achieve a longer-term goal of reaching a water recycling rate of 60% by 2027.
Diversity, Equality and Inclusion –The NXP Diversity Council created in August 2022, with the purpose of serving as an advocate, resource and governing entity to advance NXP’s global, strategic diversity, equality, and inclusion initiatives. To make measurable progress, NXP has established aspirational goals for diverse representation by 2025 with interim milestones of achievement, including:
- Achieve 25% women in research and development by 2025
- Achieve 50% underrepresented minorities in the U.S. workforce by 2025
Safety— Providing team members with a safe and healthy work environment remains a top priority at NXP. In 2022, the company maintained a low Total Case Incident Rate (TCIR) of 0.10 in 2022, remaining well below semiconductor-industry average.
Green Investing – In May 2022, NXP issued a third Green Innovation Bond for $1 billion USD, enabling communities globally to invest in sustainability activities. See the company’s 2022 Green Innovation Bond Report for details on the bond’s proceeds and impact on sustainability.
More information on NXP’s sustainability efforts can be found at nxp.com/sustainability.
Stay up-to-date with NXP’s ESG mission with Sustainability Stories magazine, spotlighting NXP technology, design and solutions that drive innovation to advance global sustainability.
About NXP Semiconductors
NXP Semiconductors N.V. (NASDAQ: NXPI) brings together bright minds to create breakthrough technologies that make the connected world better, safer and more secure. As a world leader in secure connectivity solutions for embedded applications, NXP is pushing boundaries in the automotive, industrial & IoT, mobile, and communication infrastructure markets while delivering solutions that advance a more sustainable future. Built on more than 60 years of combined experience and expertise, the company has approximately 31,000 employees in more than 30 countries and posted revenue of $13.21 billion in 2022. Find out more at www.nxp.com.
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