Amkor Technology Submits Net Zero Goal to Science Based Targets initiative (SBTi)

Rhea-AI Summary

Amkor Technology, Inc. (Nasdaq: AMKR) commits to achieving net zero greenhouse gas emissions by 2050, aligning with the Science Based Targets initiative (SBTi) to limit global temperature rise to 1.5°C. Near-term targets include reducing absolute Scope 1 and 2 GHG emissions by 55% by 2033 and setting science-based targets for 67% of Scope 3 emissions by 2028. Amkor's president and CEO, Giel Rutten, emphasizes the commitment to decarbonization and collaboration with suppliers to achieve the net zero goal.

Positive

• Amkor's commitment to achieving net zero greenhouse gas emissions aligns with the rigorous standards set by the Science Based Targets initiative (SBTi), demonstrating a strong focus on sustainability and environmental stewardship.
• The establishment of near-term targets to reduce absolute Scope 1 and 2 GHG emissions by 55% by 2033 and set science-based targets for 67% of Scope 3 emissions by 2028 indicates a proactive approach to achieving the net zero goal.
• Amkor's long-standing commitment to sustainable business practices and the steady reduction of greenhouse gas emissions over the past decade through energy efficiency and renewable energy usage demonstrate a track record of environmental responsibility and progress towards sustainability goals.

Negative

• None.

TEMPE, Ariz.--(BUSINESS WIRE)-- Amkor Technology, Inc. (Nasdaq: AMKR), a leading provider of semiconductor packaging and test services, announced today that it has committed to achieving net zero greenhouse gas emissions by 2050. The net zero goal aligns with the rigorous standards set by the Science Based Targets initiative (SBTi), which aims to limit global temperature rise to 1.5°C.

To achieve the net zero goal by 2050, Amkor has established near-term targets:

• Reduce absolute Scope 1 and 2 GHG emissions by 55% by 2033 in its operations
• Suppliers in its value chain, covering 67% of Scope 3 emissions, will have science-based targets by 2028

These targets have been submitted to the SBTi for validation today.

“Setting a net zero goal aligned with SBTi is a significant step forward in our sustainability journey. It underscores our commitment to decarbonization, a priority echoed by our stakeholders, including customers, investors, and employees,” said Giel Rutten, Amkor’s president and chief executive officer. “We expect the key initiatives in achieving this goal include transitioning our energy consumption to renewable energy sources and collaborating with suppliers to reduce the carbon footprint in our supply chain.”

Amkor has a long-standing commitment to sustainable business practices, which are firmly embedded in its core values of Reliability and Trust. Over the past decade, since setting the initial emissions reduction target in 2013, Amkor has been steadily reducing its greenhouse gas emissions by implementing initiatives to improve energy efficiency and increase renewable energy usage at its manufacturing facilities.

Amkor expects to regularly report progress towards the net zero goal, reinforcing its commitment to transparency and environmental stewardship. By establishing a net zero goal aligned with SBTi, Amkor aims to contribute to a more sustainable future by advancing decarbonization efforts.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231212272416/en/

Investor Relations

Jennifer Jue

Vice President, Investor Relations and Finance

480-786-7594

jennifer.jue@amkor.com

Media Relations

Christina Parsons

Director, Marketing Communications

480-786-7653

christina.parsons@amkor.com

Social Media: @amkortechnology

Source: Amkor Technology, Inc.

FAQ

What is Amkor Technology, Inc.'s ticker symbol?

The ticker symbol for Amkor Technology, Inc. is AMKR.

What are Amkor Technology, Inc.'s near-term targets to achieve net zero greenhouse gas emissions?

Amkor aims to reduce absolute Scope 1 and 2 GHG emissions by 55% by 2033 and set science-based targets for 67% of Scope 3 emissions by 2028.

Who is the president and CEO of Amkor Technology, Inc.?

Giel Rutten is the president and chief executive officer of Amkor Technology, Inc.

What is the Science Based Targets initiative (SBTi)?

The Science Based Targets initiative (SBTi) aims to limit global temperature rise to 1.5°C and sets rigorous standards for companies to align with in their sustainability efforts.

What are Amkor Technology, Inc.'s core values?

Amkor Technology, Inc.'s core values are Reliability and Trust, which reflect its commitment to sustainable business practices.