ON Semiconductor Confirms Commitment to Climate Change Action and Transparency

March 18, 2021 – ON semiconductor (ON Semiconductor, NASDAQ: ON) announced that it has published its 2020 Sustainability Accounting Standards Board (SASB) for the semiconductor industry on its Social Responsibility webpage the result of. In addition, the company confirmed that its sustainability plan is aligned with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). These results reinforce ON Semiconductor’s commitment to developing strategies and programs to address global climate change.

Hassane El-Khoury, President and Chief Executive Officer (CEO) of ON Semiconductor, said: “Climate change remains one of the key issues facing all businesses around the world today, and we believe it is imperative to understand the potential risks to our company’s business, as well as recognize and Address the potential climate impact of our business. The more we can identify these risks and opportunities, the better we can mitigate climate challenges across our global business and serve our customers better. We are committed to driving sustainability within the company and continuing to Our investors and all other stakeholders are accountable for disclosing the status and plans for climate change action.”

In 2021 ON Semiconductor confirmed its climate change policy, highlighting its priority areas for climate change-related actions. Under the policy, the company intends to take action to address the carbon footprint of its global manufacturing facilities, provide products that help customers meet their climate goals, and educate and inform employees about sustainable living.

The TCFD recommendations are designed to provide lenders, insurers and investors with information useful for decision-making. The third-party analysis noted that the company’s well-established enterprise risk management program (ERM) has identified some of the climate risks associated with its business, noting the current awareness of climate change by the board, executive officers, and the company’s environment, health and safety (EHS) department .

“We are proud to have key elements to address the four pillars of TCFD, including governance, strategy, risk management, and metrics and objectives. Addressing these pillars requires a long-term commitment that can only be achieved by the board, leadership, and With the participation of employees, it can only be realized with a clear vision and strong execution.”

ON Semiconductor’s 2019 Corporate Social Responsibility (CSR) can be downloaded here. ON Semiconductor’s 2020 CSR report is expected to be released in June 2021.

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