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.

In addition, NXP continues to work on increasing its water recycling rate in an effort to reduce its impact on water supplies. As of year-end 2023, NXP recycled 51% of the water used by projects initiated across its sites, with a longer-term goal of reaching a water recycling rate of 60% by 2027.

Sustainable Portfolio – In an effort to help NXP customers map and report on their own sustainability efforts, the company began development on an initial framework that qualifies products and solutions. By estimating the carbon footprint of its products, this program will help guide NXP’s strategic portfolio choices and investments related to sustainability.

Diversity, Equality and Inclusion – 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 (R&D) by 2025
• Achieve 50% underrepresented minorities in the U.S. workforce by 2025

In progressing toward our aspirational 2025 representation goals, NXP increased the percentage of women in R&D roles to 20% – a one percentage point increase over the previous year.

Safety— Providing team members with a safe and healthy work environment remains a top priority at NXP. In 2023, the company maintained a low Total Case Incident Rate (TCIR) of 0.10, remaining well below semiconductor-industry average.

Biodiversity– NXP is committed to protecting and preserving biodiversity in its operations and business relations. As such, the company adopted a dedicated Biodiversity Policy in 2023, which contains various commitments to help NXP and its partners contribute to the protection of biodiversity. These commitments include conducting local risk assessments of business operations and requesting business partners to align with these biodiversity commitments.

More information on NXP's ESG 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.

About NXP Semiconductors

NXP Semiconductors N.V. (NASDAQ: NXPI) brings together bright minds to create breakthrough technologies that make the connected world better, safer and more secure. As a world leader in secure connectivity solutions for embedded applications, NXP is pushing boundaries in the automotive, industrial & IoT, mobile, and communication infrastructure markets while delivering solutions that advance a more sustainable future. Built on more than 60 years of combined experience and expertise, the company has approximately 34,200 employees in more than 30 countries and posted revenue of $13.28 billion in 2023. Find out more at www.nxp.com.

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