Amkor’s Science-Based Net-Zero Targets Approved by SBTi

Rhea-AI Summary

Amkor Technology (Nasdaq: AMKR), a leading provider of semiconductor packaging and test services, has received approval from the Science Based Targets initiative (SBTi) for its ambitious net-zero greenhouse gas (GHG) emissions targets.

Amkor commits to achieving net-zero GHG emissions across its value chain by 2050. By 2033, the company aims to reduce absolute Scope 1 and 2 emissions by 55% from a 2022 baseline. Additionally, 80% of its suppliers by emissions will have science-based targets by 2028. Long-term goals include a 90% reduction in Scope 1 and 2 emissions and a 97% reduction in Scope 3 emissions per million USD value added by 2050.

Giel Rutten, Amkor’s CEO, emphasized the importance of these targets in aligning with global climate goals and addressing the increasing energy use in the semiconductor industry. The company plans to increase renewable energy use and prioritize decarbonization across its value chain, with regular progress reports to ensure transparency.

TEMPE, Ariz.--(BUSINESS WIRE)-- Amkor Technology, Inc. (Nasdaq: AMKR), a leading provider of semiconductor packaging and test services, announced today that the Science Based Targets initiative (SBTi) has verified Amkor’s near- and long-term science-based emissions reduction targets.

Amkor’s science-based net-zero targets include:

• Overall Net-Zero Target: Amkor commits to reach net-zero greenhouse gas (GHG) emissions across the value chain by 2050.
• Near-Term Targets: Amkor commits to reduce absolute scope 1 and 2 GHG emissions 55% by 2033 from a 2022 base year. Amkor also commits that 80% of its suppliers by emissions covering purchased goods and services and capital goods will have science-based targets by 2028.
• Long-Term Targets: Amkor commits to reduce absolute scope 1 and 2 GHG emissions 90% by 2050 from a 2022 base year. Amkor also commits to reduce scope 3 GHG emissions 97% per million USD value added within the same timeframe.

The Science Based Targets initiative (SBTi) is a corporate climate action organization that develops standards, tools, and guidance which allow companies to set GHG emissions reduction targets in line with what is needed to limit global temperature rise and reach net-zero by 2050.

“The SBTi verification represents a significant milestone and demonstrates Amkor’s commitment to ambitious environmental stewardship and aligns with the global effort,” said Giel Rutten, Amkor’s president and chief executive officer. “It is incumbent upon Amkor to aggressively pursue climate action as the semiconductor industry continues to expand production of advanced technologies. As Amkor’s manufacturing footprint expands—in the US, Europe and in Vietnam—and our business grows, we anticipate increasing energy use in our operations. Consequently, decarbonization will become increasingly crucial for Amkor.”

With targets successfully approved by SBTi, Amkor’s focus now shifts to execution. This includes increasing use of renewable energy sources in our operations over the next decade and prioritizing collective work across the value chain toward the goal of scope 3 GHG reduction.

As part of SBTi’s approval, Amkor will regularly report progress towards its near- and long-term goals, reinforcing its commitment to transparency and a more sustainable future.

To learn more about Amkor’s ESG initiatives, please visit amkor.com/esg/.

About Amkor Technology, Inc.

Amkor Technology, Inc. is the world's largest US headquartered OSAT (outsourced semiconductor assembly and test) service provider. Since its founding in 1968, Amkor has pioneered the outsourcing of IC packaging and test services and is a strategic manufacturing partner for the world's leading semiconductor companies, foundries, and electronics OEMs. Amkor provides turnkey manufacturing services for the communication, automotive and industrial, computing, and consumer industries, including but not limited to smartphones, electric vehicles, data centers, artificial intelligence and wearables. Amkor's operational base includes production facilities, research and development centers and sales and support offices located in key electronics manufacturing regions in Asia, Europe and the United States. For more information visit amkor.com.

Forward-Looking Statement Disclaimer

This press release contains forward-looking statements within the meaning of the federal securities laws, including statements about growth and Amkor’s manufacturing footprint. You are cautioned not to place undue reliance on forward-looking statements. All forward-looking statements in this press release are made based on our current expectations, forecasts, estimates and assumptions. Because such statements include risks and uncertainties, actual results may differ materially from those anticipated in such forward-looking statements. Risk factors that could affect the outcome of the events set forth in these statements are discussed in the company’s reports filed with or furnished to the Securities and Exchange Commission. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this cautionary statement. We assume no obligation to review or update any forward-looking statements to reflect events or circumstances occurring after the date of this press release except as may be required by applicable law.

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Investor Relations

Jennifer Jue

Vice President, Investor Relations and Finance

480-786-7594

jennifer.jue@amkor.com

Media Relations

Christina Parsons

Director, Marketing Communications

480-786-7823

christina.parsons@amkor.com

Social Media: @amkortechnology

Source: Amkor Technology, Inc.

FAQ

What are Amkor Technology's net-zero targets?

Amkor Technology aims to achieve net-zero greenhouse gas emissions across its value chain by 2050.

By when does Amkor Technology plan to reduce its Scope 1 and 2 GHG emissions by 55%?

Amkor Technology plans to reduce its Scope 1 and 2 GHG emissions by 55% by 2033, using 2022 as the base year.

What is the Science Based Targets initiative (SBTi)?

The Science Based Targets initiative (SBTi) is an organization that helps companies set greenhouse gas emissions reduction targets in line with limiting global temperature rise and achieving net-zero by 2050.

How much does Amkor plan to reduce Scope 3 GHG emissions by 2050?

Amkor plans to reduce Scope 3 GHG emissions by 97% per million USD value added by 2050.

What percentage of Amkor's suppliers will have science-based targets by 2028?

Amkor commits that 80% of its suppliers by emissions will have science-based targets by 2028.

Why is Amkor Technology focusing on decarbonization?

Amkor Technology is focusing on decarbonization due to the increasing energy use in the semiconductor industry and its commitment to environmental stewardship and global climate goals.

Where can I find more information about Amkor's ESG initiatives?

More information about Amkor's ESG initiatives can be found at amkor.com/esg/.