NXP Publishes Annual Corporate Sustainability Report, Highlights Progress Toward Environmental, Social and Governance Goals

EINDHOVEN, The Netherlands, March 19, 2024 (GLOBE NEWSWIRE) -- NXP Semiconductors N.V. (NASDAQ: NXPI) has published its annual Corporate Sustainability Report (CSR), reinforcing its commitment toward transparency and sustainable business practices. Detailing NXP’s overall Environmental, Social and Governance (ESG) strategy and guiding principles, the report highlights the company’s year-on-year progress in reaching its mid-term and long-term ESG goals.

“As a global technology company, we have a special opportunity to pioneer and develop innovative solutions that help shape a more sustainable future,” said Kurt Sievers, President and CEO of NXP. “With the help and ongoing dedication of all our team members, partners and customers, we will continue to hold ourselves accountable and remain focused on achieving our ambitious long-term goals reflected in this report.”

NXP’s commitment to ESG is underscored by its ongoing efforts to address its mid- and long-term goals, including reducing its carbon footprint by 35% by 2027 and becoming a carbon-neutral company by 2035. In 2023, NXP continued to increase its use of renewable electricity and invested in technology to reduce harmful greenhouse gas (GHG) emissions. The company also began developing an ESG ratings system to qualify NXP products and solutions to help customers map and report on their own sustainability efforts.

“Our sustainability mission, as documented in our annual Corporate Sustainability Report, remains a guiding principle as we continue to drive positive change through innovative solutions while staying true to our core values” said Jennifer Wuamett, Executive Vice President, General Counsel, and Chief Sustainability Officer at NXP. “We approach our ESG journey with an understanding that progress is not possible without collaboration. We continue to invest in programs and initiatives that allow us to work closely with team members, partners and customers on a global scale to enable a more sustainable world for generations to come.”

Read NXP’s 2023 Corporate Sustainability Report.

The company’s 2023 ESG achievements and future aspirations include:

Climate and Environment – NXP continued efforts to reduce its carbon footprint in 2023 through investing in technology to reduce GHG emissions and by increasing the usage of renewable electricity. For 2023, more than 39% of the electricity used to manufacture NXP products came from renewable sources, compared with 35% in 2022.