A US-based chip maker is one of the many companies that are getting energized by the flow of ESG current. Through its commitment to the ESG principles, the chip MNC is not only contributing to a greener and a more equitable world but is also reaping substantial benefits in business terms.
The chip giant is committed to this energy efficiency and carbon reduction. By the end of 2022, the company's global renewable electricity usage soared to 93%, surpassing the 80% mark it recorded in 2021. This allowed the company to conserve a staggering 970 million kWh of electricity between 2020 and 2022.
In 2022, the company spent $2.2 billion on supplies from diverse-owned suppliers. Under its ‘Know the Chain’ assessment programme for the supply chain. In 2022 it was rated as the Most Transparent Company in the US by a leading global communications firm Labrador’s survey. The company was at 2nd position, out of 60, in a survey on ‘Public Information & Communications, Technology Firms’. Apart from the sustainability agenda, inclusivity and empowering of women too is on top of its agenda.
By the end of 2022, the company 1,646 women at the helm, surpassing its own target of 1,500.
In 2022, the company announced a $1.25 billion-Green Bond issue as part of the overall public offering plan. There’s a business sense in such offerings – the borrowing from public comes at a lower price than borrowing from a financial institution. This is just one of the many spillover benefits of ESG practices for the corporates.
