With the publishing of Microchip 2023 Sustainability Report, which includes information on its environmental and social impact initiatives, Microchip Technology demonstrates its dedication to this value and demonstrates transparency to its employess, clients, and other stakeholders.
The company’s ESG initiatives and advancements are across five pillars—known as Microchip’s 360° Sustainability Approach—are detailed in Microchip 2023 Sustainability Report. Our Company, Our Planet, Our Supply Chain, Our Products, and Our People are the five pillars.
“Professional Ethics and Social Responsibility Are Practiced” is one of Microchip’s guiding values, which states that the company conducts business and acts honorably toward its suppliers, channel partners, investors, shareholders, customers, and the government, affirmed its official release.
In Microchip 2023 Sustainability Report mentions that Microchip’s Environmental, Social, and Governance (ESG) activities are designed to stimulate good change along its value chain through strategic partnerships, aggressive targets, and strong teamwork.
They are also in line with its commercial objectives. In addition to continuously investing in its worldwide workforce, Microchip has been working to promote economic growth while protecting the environment and laying the groundwork for a sustainable future for coming generations mentioned the official release.
“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.”
“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 2023 Sustainability Report
- Microchip 2023 Sustainability Report reiterated its aggressive goal of being net zero by 2040 and reducing greenhouse gas emissions from scope 1 and scope 2 by 50% by 2030.
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In order to demonstrate Microchip’s commitment to sustainable energy practices, a state-of-the-art 3.8 MW floating solar farm was built at its Thailand facility. This was accompanied by the signing of a 20-year Power Purchase Agreement (PPA) to obtain 16% of the company’s electricity demands from the solar farm.
- The ongoing adoption of Microchip’s supply chain management strategy, which assesses the values and policies of supply chain partners to ensure transparency and lower risk
An outline of Microchip’s several programs designed to promote an inclusive and varied work environment, with an emphasis on professional growth and employee well-being. -
Microchip has been recognized by numerous third-party publications and organizations, including Newsweek and Forbes/Statista, which rated it as one of “America’s Most Responsible Companies” and “World’s Top Female-Friendly Companies.” The company also prides itself on its focus on STEM education and support of the FIRST® Robotics program.
Continuous improvement is essential, which is the company’s guiding value. To further decrease its environmental impact, improve its social contributions, and fortify its governance standards, Microchip aggressively seeks out new opportunities.
The firm places a high priority on creating cutting-edge goods and solutions that can support sustainability ecosystems including energy production, e-mobility, and sustainable homes and cities through its Sustainability Megatrend team.
Further Info on Microchip’s Sustainability Solutions, CLICK HERE
To Read Microchip 2023 Sustainability Report Know About its ESG initiatives, Corporate Responsibility website.
