STMicroelectronics has published an annual sustainability report that offers information on how the company acted in 2023 with regard to important environmental, social, and governance (ESG) issues. The ST’s annual sustainability report and ESG acitivity shares valuable insights on how the company promoted sustainable business growth and long-term value generation for all of its stakeholders.
“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.”
ST ESG Highlights During 2023 Include:
- An absolute drop in GHG emissions for scopes 1 and 2 of 45% since 2018 (compared to a 40% decline in 2022).
- The percentage of electricity sourced from renewable sources will grow to 71% (from 62% in 2022) and a major power purchase agreement (PPA) will be signed in Italy to produce 250GWh of renewable energy annually (3.75 TWh over 15 years) beginning in 2024.
- 96% of the company’s trash is recovered, reused, or recycled (1% more than in 2022).
- CDP water security and climate change received A-grades.
- R&D expenditures totaling US$2.1 billion, or 12.2% of net revenues, are made to foster innovation.
- Actively involved in 195 R&D collaborations globally.
- Over 610 STEM (science, technology, engineering, and mathematics) programs and events have been held worldwide, reaching over 100,000 instructors and students—a 35% increase from 2022.
- 87% of workers think ST is a wonderful place to work, which is 4% more than in 2021 (the last time we conducted a comprehensive poll).
- To encourage inclusivity in the workplace, the corporation placed a major emphasis on the establishment of voluntary, employee-led Employee Resource Groups (ERGs) in 2023. The first ERG for women, WISE (Women Inspiring Supporting and Empowering), has quickly expanded, now boasting over 1,400 members across 60
The Dow Jones Sustainability indexes, FTSE4Good, EuroNext VIGEO Europe 120, CAC 40 ESG, MIB ESG, ISS ESG Corporate ratings, Bloomberg Gender Equality Index, and others continued to add ST in their indices in 2023. The company also obtained an MSCI ESG Rating of AAA confirmed its official release.
Inside 27th Annual Report of ST’s ESG and Sustainability Performance in 2023
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.
Further Info on ST’s sustainability and ESG Efforts: https://www.st.com/content/st_com/en/about/sustainability.html
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