STMicroelectronics Publishes 2023 Sustainability Report

STMicroelectronics released its annual sustainability report detailing 2022 performance, strategy, and ongoing action plans.

“We provide our customers with the key enabling products and technologies for decarbonization and a more sustainable society through digitalization and electrification. We are committed to doing so through a secure and responsible supply chain that prioritizes our people and the planet,” said Jean Marc Chery, president and CEO, STMicroelectronics. “Our strong commitment to sustainability is clear from the important progress we are making in all areas and from our ambition to drive further improvement to achieve all our sustainability goals, including our goal to be carbon neutral by 2027.”

The identification of ST’s priority sustainability topics is formalized through a regular multistakeholder materiality exercise and the company’s reporting is aligned with Global Reporting Initiative (GRI) Standards for stakeholder inclusiveness, sustainability context, materiality, and completeness.

ST’s performance across many areas was recognized again by multiple ESG rankings, indices and international certifications including, among others, Dow Jones Sustainability Index World and Europe, EuroNext VIGEO Europe 120, FTSE4Good, ISS ESG Corporate Rating and MSCI.

ST’s 2022 ESG achievements and progress include:

Sustainable Technology: ST technologies and products enable its customers to boost sustainability and seize opportunities with continued improvement of the Company’s social and environmental footprint at every stage of the product lifecycle (Sustainable technology). In 2022:
• 77% of new products were identified as responsible (responsible sourcing, eco-design, advanced EHS standards of manufacturing, responsible products, and applications) (vs 69% in 2021).
• 23% of total revenue derived from responsible products (vs 20% in 2021).

Sustainable Way: ST is on track to become carbon neutral by 2027 (energy and climate change) and, while continuing to expand manufacturing capacity, actively worked in 2022 to further reduce its environmental footprint, including the following achievements:
• A 40% decrease in GHG emissions for scopes 1 and 2 since 2018 in absolute terms (vs a 34% decrease in 2021).
• An increased sourcing of electricity coming from renewable sources to 62% (from 51% in 2021).
• The reuse, recovery, or recycling of 95% of the Company’s waste (vs 90% in 2021), reaching the 2025 target ahead of time.

ST also continued to put people first, with actions and training to support a more diverse and inclusive culture, along with continued progress on health and safety, and talent attraction and engagement, including the following achievements:
• Sustainability performance is now part of the incentive program for over 21,000 employees.
• More than 19,000 employees trained in 2022 on the new leadership model designed to support the transformation journey of the company.
• 86% of employees recommend ST as a great place to work (+3 points vs 2021) (Talent attraction and engagement.)
• A further decrease in the recordable case rate for employees (work-related injuries per 100 employees per year) to 0.10 (from 0.12 in 2021), a best-in-class performance.
• Reached the target of hiring 30% women for exempt positions for the second year in a row.

Sustainable Company: Innovation is the driving force that fuels ST’s growth and helps achieve the company’s business objectives. ST has a collaborative approach for profitable growth, working across ecosystems and communities and with academic, private, and public partners, to create market-leading products and solutions that enable the company’s customers to tackle tomorrow’s challenges and fuel their future growth:
• 12% of net revenues (US$1.9 billion) invested in R&D to support innovation.
• Involved in 186 active R&D partnerships worldwide.
• More than 450 STEM events and initiatives reaching over 100,000 students and teachers (community and education).

The 26th annual report contains highlights and details of ST’s sustainability performance in 2022 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).