{"id":64499,"date":"2024-07-05T13:20:22","date_gmt":"2024-07-05T05:20:22","guid":{"rendered":"http:\/\/www.upgrademag.com\/web\/?p=64499"},"modified":"2024-07-05T13:20:26","modified_gmt":"2024-07-05T05:20:26","slug":"microchip-releases-2023-sustainability-report","status":"publish","type":"post","link":"http:\/\/www.upgrademag.com\/web\/2024\/07\/05\/microchip-releases-2023-sustainability-report\/","title":{"rendered":"Microchip releases 2023 sustainability report"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>One of Microchip\u2019s Guiding Values is \u201cProfessional Ethics and Social Responsibility Are Practiced,\u201d which means that the company manages its business and treats its customers, employees, shareholders, investors, suppliers, channel partners, community and government in a manner that exemplifies honesty, ethics and integrity. To demonstrate its commitment to this value and to provide transparency to its employees, customers and all other stakeholders, Microchip Technology has released its <a href=\"https:\/\/www.microchip.com\/en-us\/about\/corporate-responsibility?utm_source=pressrelease&amp;utm_medium=pressrelease&amp;utm_campaign=sustainabilityreport&amp;utm_bu=esg\">2023 Sustainability Report<\/a> which details its environmental and social impact programs.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Microchip\u2019s Environmental, Social and Governance (ESG) projects are aligned with its business objectives and are implemented to catalyze positive change throughout its value chain via strategic initiatives, strong collaboration with partners and ambitious goals. The company consistently invests in its global workforce and endeavors to drive economic growth, while preserving natural resources and paving the way for a sustainable tomorrow for future generations.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u201c<\/strong>Our vision to be the<strong> <\/strong>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,\u201d said Ganesh Moorthy, president and CEO of Microchip. \u201cWe 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.\u201d&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company\u2019s 2023 Sustainability Report outlines its ESG efforts and progress across five tenets, referred to as Microchip\u2019s 360\u00b0 Sustainability Approach. The five tenets include: Our Company, Our Planet, Our Supply Chain, Our Products and Our People.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cTo 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,\u201d said Ewa Rickey, associate director of Microchip\u2019s ESG program. \u201cOur 2023 Sustainability Report demonstrates our dedication to being a good corporate citizen, not only in the communities where we operate but around the world.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Highlights of Microchip\u2019s 2023 Sustainability Report<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Microchip\u2019s 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<\/li>\n\n\n\n<li>The completed construction of a cutting-edge 3.8 MW floating solar farm at Microchip\u2019s Thailand facility, accompanied by signing a 20-year Power Purchase Agreement (PPA) to source 16% of its electricity needs from this solar farm to affirm the company\u2019s commitment to sustainable energy practices<\/li>\n\n\n\n<li>The ongoing application of Microchip\u2019s Supply Chain Management Approach, which is used to assess the practices and ethics of supply chain partners to ensure transparency and minimize risk<\/li>\n\n\n\n<li>An overview of Microchip\u2019s many initiatives aimed at fostering a diverse and inclusive workplace, with a particular focus on employee well-being and professional development<\/li>\n\n\n\n<li>The company\u2019s community involvement initiatives such as charitable donations and employee volunteer hours, as well as its focus on STEM education and support for the <em>FIRST<\/em>\u00ae Robotics program<\/li>\n\n\n\n<li>Microchip\u2019s recognition by numerous third-party publications and organizations that included ratings as one of \u201cAmerica\u2019s Most Responsible Companies\u201d by <em>Newsweek<\/em> and a \u201cWorld\u2019s Top Female-Friendly Companies\u201d by <em>Forbes\/Statista<\/em><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">In line with the company\u2019s Guiding Value, \u201cContinuous Improvement is Essential,\u201d Microchip proactively pursues new avenues to further reduce its environmental impact, enhance its social contributions and strengthen its governance practices. Through its Sustainability Megatrend team, the company prioritizes developing innovative solutions and products that can contribute to sustainability ecosystems such as energy generation, E-Mobility, sustainable homes and cities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>To demonstrate its commitment to this value and to provide transparency to its employees, customers and all other stakeholders, Microchip Technology has released its 2023 Sustainability Report which details its environmental and social impact programs.<\/p>\n","protected":false},"author":6,"featured_media":64505,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[7581,5972,96,2727,1656],"class_list":["post-64499","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-headlines","tag-microchip","tag-sustainability","tag-technology","tag-technology-adaption","tag-technology-investment"],"_links":{"self":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/64499","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/comments?post=64499"}],"version-history":[{"count":0,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/64499\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media\/64505"}],"wp:attachment":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media?parent=64499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/categories?post=64499"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/tags?post=64499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}