UMC's Climate Goals Validated by Science Based Targets Initiative (SBTi)
United Microelectronics Corporation (NYSE: UMC; TWSE: 2303) ("UMC") announced today that the Science Based Targets initiative (SBTi) has approved its emissions reduction targets, making the Company the first semiconductor foundry globally to obtain SBTi validation of climate goals. This marks a critical step in UMC's roadmap to achieve net zero emissions by 2050.
SC Chien, Co-President and Chief Sustainability Officer of UMC, said: "In 2021, we became the first semiconductor foundry to pledge net zero, while also gaining membership to RE100. SBTi's approval is a confirmation of our intended pathway to achieve net zero while also ensuring our reduction targets are in line with what the latest climate science says is needed to prevent the worst impacts of climate change. UMC's efforts to combat global warming started more than two decades ago, and we have achieved progressive goals to cut greenhouse gas emissions over the years. We will continue to drive further reductions at our operations as well as work with partners to address value chain emissions as we strive towards our scientifically verified targets."
With 2020 as the base year, UMC targets 25% reduction in direct greenhouse gas emissions (Scope 1) and indirect emissions from electricity consumption (Scope 2) by 2030. The Company also aims to lower emissions from its value chain (Scope 3) by 12.3% in the same period. These targets are confirmed by the SBTi. UMC was able to complete the validation process in less than six months, demonstrating the Company's solid foundation in and management of greenhouse gas inventory, as well as the determination to honor its climate pledge.
The SBTi is a partnership between CDP, the United Nations Global Compact, Wold Resources Institute, and the World Wide Fund for Nature. It defines and promotes best practice in science-based target setting and independently assesses companies' targets. UMC is among the 1,400-plus companies and institutions that have had their science-based targets validated.
To minimize emissions associated with both wafer manufacturing and usage of end products, UMC will continue to invest in advanced foundry technologies, and seek ways to boost energy and resource efficiency. As a RE100 member, the Company is actively pursuing its 2030 goal of increasing renewables to 30% of total energy consumption, which will contribute to reductions in Scope 2 emissions. In addition, UMC is engaging with partners in order to reduce upstream and downstream emissions to achieve a low-carbon value chain.
UMC (NYSE: UMC, TWSE: 2303) is a leading global semiconductor foundry company. The company provides high quality IC fabrication services, focusing on logic and various specialty technologies to serve all major sectors of the electronics industry. UMC's comprehensive IC processing technologies and manufacturing solutions include Logic/Mixed-Signal, embedded High-Voltage, embedded Non-Volatile-Memory, RFSOI and BCD etc. Most of UMC's 12-in & 8-in fabs with its core R&D are located in Taiwan, with additional ones throughout Asia. UMC has total 12 fabs in production with combined capacity over 800,000 wafers per month (8-in equivalent), and all of them are certified with IATF 16949 automotive quality standard. UMC is headquartered in Hsinchu, Taiwan, plus local offices in United States, Europe, China, Japan, Korea & Singapore, with worldwide total 20,000 employees. For more information, please visit: https://www.umc.com.
Note from UMC Concerning Forward-Looking Statements
Some of the statements in the foregoing announcement are forward-looking within the meaning of the U.S. Federal Securities laws, including statements about introduction of new services and technologies, future outsourcing, competition, wafer capacity, business relationships and market conditions. Investors are cautioned that actual events and results could differ materially from these statements as a result of a variety of factors, including conditions in the overall semiconductor market and economy; acceptance and demand for products from UMC; and technological and development risks. Further information regarding these and other risks is included in UMC's filings with the U.S. Securities and Exchange Commission. UMC does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.