Microchip 2023 Environmental and Social Contributions

 

#Microchip is committed to conducting its business with honesty, ethics, and integrity. This commitment extends to all stakeholders, including employees, customers, shareholders, investors, suppliers, channel partners, communities, and governments. In line with this commitment, Microchip Technology (Nasdaq: MCHP) has published its 2023 Sustainability Report, providing a comprehensive overview of its environmental and social impact initiatives.

 

Microchip’s Environmental, Social, and Governance (ESG) projects align with its business goals, driving positive change across its value chain through strategic initiatives, robust partner collaborations, and ambitious targets. The company consistently invests in its global workforce, striving to stimulate economic growth while conserving natural resources and fostering a sustainable future for upcoming generations.

Ganesh Moorthy, President and CEO of Microchip, stated, “Our vision to be the leading provider of smart, connected, and secure embedded control and processing solutions includes a corporate commitment to ethical and responsible actions. This commitment permeates our daily operations, ethical global supply chains, and our investment in new technologies and products to ensure a more sustainable world.”

Microchip’s 2023 Sustainability Report details its ESG efforts and progress across five tenets, collectively referred to as Microchip’s 360° Sustainability Approach. These tenets encompass Our Company, Our Planet, Our Supply Chain, Our Products, and Our People.

Ewa Rickey, Associate Director of Microchip’s ESG program, said, “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.”

Key Highlights of Microchip’s 2023 Sustainability Report

• Microchip’s reaffirmation of its ambitious target to achieve a 50% reduction in Scope 1 and 2 Greenhouse Gas (GHG) Emissions by 2030 and to be Net Zero by 2040.
• The completion of a state-of-the-art 3.8 MW floating solar farm at Microchip’s Thailand facility, demonstrating the company’s commitment to sustainable energy practices.
• The ongoing application of Microchip’s Supply Chain Management Approach to ensure transparency and minimize risk.
• An overview of Microchip’s initiatives aimed at fostering a diverse and inclusive workplace.
• The company’s community involvement initiatives, including charitable donations and employee volunteer hours.
• Microchip’s recognition by numerous third-party publications and organizations.

In line with the company’s Guiding Value, “Continuous Improvement is Essential,” Microchip actively seeks new ways to further reduce its environmental impact, enhance its social contributions, and strengthen its governance practices.

To learn more about Microchip’s sustainability solutions and ESG initiatives, visit the Sustainability Solutions and Corporate Responsibility websites.

FAQs

1. What is the main focus of Microchip’s 2023 Sustainability Report?

   • The report focuses on Microchip’s environmental and social impact programs, detailing its efforts and progress in these areas.

2. What are some of the key highlights of the report?

   • The report highlights Microchip’s commitment to reducing greenhouse gas emissions, its construction of a solar farm in Thailand, and its initiatives for a diverse and inclusive workplace.

3. Where can I read Microchip’s 2023 Sustainability Report?

   • You can read the report on Microchip’s Corporate Responsibility website.

4. What is Microchip’s vision?

   • Microchip’s vision is to be the leading provider of smart, connected, and secure embedded control and processing solutions.