Applied Materials Reports Progress on Net Zero 2040 Playbook

Rhea-AI Summary

Applied Materials has released its latest Sustainability Report, highlighting its efforts to reduce carbon emissions in the semiconductor industry. The company announced its Net Zero 2040 Playbook aimed at achieving net zero emissions by 2040.

In 2023, Applied sourced 100% of its U.S. electricity from renewables and increased its global renewable energy sourcing to 70%. The company also installed a large rooftop solar array in Texas, expected to generate over 8.2 million kilowatt hours annually.

Applied's emission reduction targets for 2030 have been validated by the Science Based Targets initiative. The company is partnering with Schneider Electric's Catalyze program and is a founder of the Semiconductor Climate Consortium, advancing efforts to decarbonize the industry.

The full report is available on Applied Materials' website.

Positive

• 100% renewable electricity sourcing in the U.S. for 2023.
• Increased global renewable energy sourcing to 70%.
• Commissioned a large rooftop solar array expected to produce 8.2 million kilowatt hours annually.
• 2030 emission reduction targets validated by the Science Based Targets initiative.
• Collaboration with Schneider Electric's Catalyze program.
• Founding member of the Semiconductor Climate Consortium.

Negative

• None.

• Company’s latest Sustainability Report outlines efforts to reduce the semiconductor industry’s carbon emissions

SANTA CLARA, Calif., June 20, 2024 (GLOBE NEWSWIRE) -- Applied Materials, Inc. has published its latest Sustainability Report, detailing the company’s progress over the past year in reducing its carbon emissions and collaborating with customers and partners to drive a more sustainable semiconductor industry.

“As technology transforms our world at an unprecedented pace, the semiconductor industry needs to significantly scale up global chip manufacturing capacity while simultaneously finding a path to net zero,” said Gary Dickerson, President and CEO of Applied Materials. “These are complex challenges that no single company – or country – can solve alone, and Applied Materials is committed to collaborating across the semiconductor supply chain to define and deploy innovative solutions to reduce the industry’s environmental impact.”

The rise of the Internet of Things (IoT) and artificial intelligence (AI) is creating the opportunity for semiconductor industry revenue to double by around the end of the decade, yet data shows that the industry’s carbon footprint is on a path to quadruple in the same time period.* To help address this imbalance, Applied developed its Net Zero 2040 Playbook – a collaborative approach to reducing the company’s and the semiconductor industry’s carbon emissions.

Applied continued to source 100 percent of its U.S. electricity from renewables in 2023, and it increased its global sourcing to 70 percent. The company commissioned one of the largest rooftop solar arrays in Central Texas at its Austin Logistics Service Center, which is expected to produce more than 8.2 million kilowatt hours of electricity per year, enough to power approximately 1,100 homes.

Applied’s 2030 Scope 1, 2 and 3 emission reduction targets were validated by the Science Based Targets initiative (SBTi). Applied is collaborating closely with its customers, suppliers and partners to reduce the semiconductor industry’s carbon emissions. As an inaugural corporate sponsor of Schneider Electric’s Catalyze program, Applied is working alongside other leading organizations to accelerate access to renewable energy across the global semiconductor value chain. Applied is also a founder and Governing Council member of the Semiconductor Climate Consortium, a global, ecosystem-wide effort to decarbonize the semiconductor industry.

Applied Materials has been reporting on social responsibility and environmental matters since 2005. Applied’s 2023 Sustainability Report and additional information about the company’s environmental actions and efforts to advance its culture of inclusion and human rights initiatives are available on the Reports and Policies page of our website.

About Applied Materials
Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. Our expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality. At Applied Materials, our innovations make possible a better future. Learn more at www.appliedmaterials.com.

*Source: imec

Contact:
Ricky Gradwohl (editorial/media) 408.235.4676
Michael Sullivan (financial community) 408.986.7977

FAQ

What is the Net Zero 2040 Playbook by Applied Materials (AMAT)?

The Net Zero 2040 Playbook is Applied Materials' strategy to achieve net zero carbon emissions by 2040.

How much renewable energy did Applied Materials (AMAT) source in 2023?

Applied Materials sourced 100% of its U.S. electricity and 70% of its global electricity from renewables in 2023.

What is the significance of the rooftop solar array installed by Applied Materials (AMAT)?

The rooftop solar array in Texas is expected to generate over 8.2 million kilowatt hours of electricity annually, enough to power approximately 1,100 homes.

Have Applied Materials' (AMAT) emission reduction targets been validated?

Yes, Applied Materials' 2030 emission reduction targets have been validated by the Science Based Targets initiative.

What collaborative efforts is Applied Materials (AMAT) involved in to reduce carbon emissions?

Applied Materials collaborates with Schneider Electric's Catalyze program and is a founding member of the Semiconductor Climate Consortium to reduce carbon emissions.