NORTHAMPTON, MA / ACCESSWIRE / February 13, 2024 / Qualcomm Incorporated released its annual Corporate Responsibility Report today, reporting on the Company's environmental, social and governance (ESG) performance in 2023.
Qualcomm has a long history of transparency to stakeholders around its ESG performance. The report features successes achieved this past year, including progress made on companywide ESG targets, including goals around environmental sustainability, and power efficiency of our Snapdragon products. It also highlights the recognitions received for the Company's ESG performance, including being listed on the Dow Jones Sustainability North America Index and ranked as one of Newsweek's Most Responsible Companies for the fifth consecutive year.
"Throughout the year, we remained focused on executing our strategy, prioritizing our future growth and setting the pace of innovation, while navigating the challenging macroeconomic environment. Building on our nearly 40-year history of era-defining technology breakthroughs, our proven technologies span across unrivaled connectivity, high-performance, low-power computing, and leading-edge artificial intelligence (AI)." said Cristiano Amon, President and Chief Executive Officer, Qualcomm Incorporated. "Together with our ecosystem partners, we are creating opportunities designed to drive innovation, societal advancement and sustainability."
Qualcomm's ESG priorities include three areas of focus where the Company believes it can make the greatest impact - Empowering Digital Transformation, Acting Responsibly and Operating Sustainably.
Key highlights from 2023 include:
- The Company continued to invent and develop products that enable customers to make a positive impact. One of Qualcomm's 2025 goals is to reduce power consumption by 10 percent every year in the Company's flagship Snapdragon products. Thus far, year over year, the Company achieved a reduction in power consumption by 10 percent in Snapdragon products when averaged across all use cases.
- The Company's efforts around sustainable supply chain management maintained with the 2025 goal of auditing 100 percent of primary semiconductor manufacturing suppliers every 2 years for conformance to its Supplier Code of Conduct. As of 2023, 88 percent of our primary semiconductor manufacturing suppliers have received audits.
- In 2023, the Company achieved its 2025 global greenhouse gas (GHG) emissions goal- two years ahead of schedule. It has reduced Scope 1 and Scope 2 GHG emissions by over 35 percent compared to a 2014 baseline. The Company is also continuing efforts that are helping advance us towards our 2040 net-zero target.
- In line with the Company's conviction to address the environmental, social, and economic impacts of climate change, the Company continued its efforts and has other ambitious climate goals, including reaching net-zero global GHG emissions for Scope 1, 2 and 3 by 2040. The goals have been approved by Science Based Targets Initiative's (SBTi) Business Ambition for 1.5°C.
- The Company kept up its work to enrich people's lives by bringing technology to underserved communities around the world through its Qualcomm® Wireless Reach Initiative. During this past year, Wireless Reach reached its 2025 goal to positively impacted the lives of over 27 million people since 2006.
- The Company remains committed to its goal of inspiring the next generation of inventors by engaging over 1.5 million students and teachers across the globe through strategic STEM initiatives. While we achieved our goal in 2022, we carried on our efforts in STEM around the world. As of 2023, we've reached over 4.7 million students and teachers across the globe.
To learn more about Qualcomm's progress towards their goals and ESG performance in 2023, read the full report here.
Snapdragon and Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries.
View additional multimedia and more ESG storytelling from Qualcomm on 3blmedia.com.
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SOURCE: Qualcomm
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