NXP's Annual Sustainability Report: ESG Commitment

Published on:
KnowESG_Sustainability report
Image courtesy of https://www.gettyimages.in/

NXP Semiconductors 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.

Kurt Sievers, president and CEO of NXP, said: "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. We are proud of the goals we’ve set and the progress we’ve made, and we look forward to advancing our commitment to sustainability through measurable, impactful results.”

NXP is committed to advancing and realising 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 its carbon footprint by 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.

Jennifer Wuamett, Executive Vice President, General Counsel, and Chief Sustainability Officer at NXP, said: "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. This report illustrates meaningful progress towards achieving carbon neutrality in our operations and prioritising sustainability at every level.”

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 normalised 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 the longer-term goal of reaching a water recycling rate of 60% by 2027.

Diversity, Equality, and Inclusion: The NXP Diversity Council was created in August 2022 to serve 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 the semiconductor-industry average.

Green Investing: In May 2022, NXP issued a third Green Innovation Bond for USD 1 billion, 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.

Read NXP’s 2022 Corporate Sustainability Report

To view and compare company ESG Ratings and Sustainability Reports across sectors, follow our Company ESG Profiles page.

For more investor-related news

Source: NXP

Share:
esg
esg
esg
esg

Investors Headlines

Bath & Body Works Publishes 2023 ESG Report

Bath & Body Works Publishes 2023 ESG Report

Li-Cycle Releases 2023 Sustainability Report

Li-Cycle Releases 2023 Sustainability Report

NGFS' Reports Guide Central Banks to Invest Sustainably

REC Group Earns EcoVadis Silver Medal for Sustainability

Climate-Focused Fintech Ekko Raises $2.5 Million

Cooper Standard Publishes 2023 ESG Report

Woodspin Gets Certified for Sustainable Sourcing

HH Global Gets EcoVadis Gold Sustainability Rating

SoCalGas Publishes 2023 Corporate Sustainability Report

Ascot Racecourse Wins ECOsmart Accreditation