Entegris Launches First Corporate Social Responsibility Report

Rhea-AI Summary

Entegris (Nasdaq: ENTG) has released its inaugural Corporate Social Responsibility (CSR) report, titled Science Today for a Sustainable Tomorrow, detailing progress toward its ambitious 2030 goals. The report assesses 2020 baseline performance across four key areas: Innovation, Safety, Personal Development and Inclusion, and Sustainability, highlighting investments in R&D and safety enhancements. Entegris aims for 55% of operational expenses in R&D by 2030 and a 95% safety perception among employees.

Positive

• Invested over 35% of operating expenses in R&D with a goal of 55% by 2030.
• Achieved a reduction in total recordable incident rate (TRIR) to below 0.74 in 2020.
• Established the Entegris Foundation with $5 million contributed towards STEM scholarships, aiming for over $30 million by 2030.
• Began construction of a new manufacturing facility in Taiwan aimed at reducing water consumption by over 50%.

Negative

• None.

2020 Report Outlines Progress and Sets Plans for Achieving 2030 Goals

BILLERICA, Mass.--(BUSINESS WIRE)-- Entegris (Nasdaq: ENTG), a world-class supplier of advanced materials and process solutions for the semiconductor and other high-tech industries, today issued its first annual Corporate Social Responsibility (CSR) report. The report, Science Today for a Sustainable Tomorrow, is available online. It provides a comprehensive overview of Entegris’ progress toward reaching its 2030 CSR goals and outlines the company’s baseline performance in 2020 across the four pillars of its CSR strategy: Innovation, Safety, Personal Development and Inclusion, and Sustainability.

Entegris launches first Corporate Social Responsibility Report (Photo: Entegris)

“The overlapping and unprecedented crises of the past 18 months – from the COVID-19 pandemic to social unrest and growing concerns about climate change – have reaffirmed the need for us to engage proactively to confront these challenges, individually and collectively,” said Bertrand Loy, President and CEO of Entegris. “Entegris has a long-standing commitment to social responsibility and environmental sustainability, and the launch of our first Corporate Social Responsibility Report is an important milestone in our journey. Today we reflect on the progress we already are making and look ahead to the next phase of our efforts.”

In 2020, Entegris formalized its CSR commitment with the creation of a CSR framework and set ambitious 2030 goals aligned to each of the four pillars. Science Today for a Sustainable Tomorrow establishes baseline metrics for fiscal year 2020 and reports on the company’s action plans for operationalizing these responsible, inclusive, and sustainable practices across its business operations.

Highlights within the report include:

Innovation:

• Invested more than 35% of operating expenses in Research & Development (R&D). By 2030, Entegris expects to invest 55% in R&D, enhancing the company’s ability to develop breakthrough technologies that can transform society.
• Leveraged decades of experience in pure materials handling in the semiconductor industry to develop low-temperature storage bags that are being used by leading COVID-19 vaccine manufacturers to handle the production and distribution of vaccines around the world.

Safety:

• Fostered a workplace culture where safety is universally recognized as a top priority. In 2020, 90% of Entegris employees felt that “Entegris is a safe place to work,” and the company aims to reach 95% by 2030.
• Continued efforts to strive for an injury-free workplace by increasing participation among team members in reporting and eliminating hazards in the work environment. As a result, our total recordable incident rate (TRIR) in 2020 was less than 0.74 down from 1.19 in 2019 and 1.64 in 2018.
• Implemented health screenings, automated temperature scanning devices, and visitor management systems at all facilities to protect colleagues from the spread of COVID-19. Pandemic Preparedness Response Teams were formed at every location to manage protective measures and maintain ongoing communication across Entegris’ global organization.

Personal Development and Inclusion:

• Established the Entegris Foundation to fund STEM scholarships and internships for women and individuals from underrepresented communities. To date, Entegris has contributed $5 million to the fund with the goal of investing more than $30 million in STEM scholarships and internships by 2030.
• Completed more than 109,000 hours of real-time learning and development opportunities across the 6,600-strong Entegris workforce. By 2030, Entegris team members will complete five times the amount completed in 2020.

Sustainability:

• Implemented a new process for collecting and tracking usage of water, electricity, and natural gas across all Entegris locations, helping to establish 2020 baseline metrics and identify reduction opportunities to meet 2030 goals.
• Began construction in Taiwan on Entegris’ newest and largest global manufacturing facility that will integrate the company’s 2030 sustainability goals throughout its manufacturing processes. The facility aims to reduce water consumption by more than 50% from what is currently consumed at similar facilities.

The report also outlines the company’s CSR efforts across the supply chain, including engagement with suppliers to set sustainability goals and complete scorecards to improve performance and help suppliers make a positive impact on the industry and the communities they serve. Entegris is committed to advancing inclusion and diversity across its supply chain, and in 2020, more than 15% of Entegris’ spending was awarded to diverse suppliers.

Entegris’ CSR strategy is aligned with the UN Sustainable Development Goals (UN SDGs), a blueprint to achieve a better and more sustainable future for all. In addition, the company’s reporting approach will follow the Sustainability Accounting Standards Board (SASB) standards, which identify the environmental, social, and governance (ESG) issues most relevant to the semiconductor industry, enabling readers to compare and benchmark peer performance. The 2020 report includes initial disclosures of SASB metrics, and Entegris will continue to disclose additional metrics in future reports published annually. More information about SASB metrics can be found at the end of the report.

About Entegris:

Entegris is a world-class supplier of advanced materials and process solutions for the semiconductor and other high-technology industries. Entegris has approximately 6,600 employees throughout its global operations and is ISO 9001 certified. It has manufacturing, customer service, and/or research facilities in the United States, Canada, China, France, Germany, Israel, Japan, Malaysia, Singapore, South Korea, and Taiwan. Additional information may be found at www.entegris.com.

Forward-Looking Statements

This news release contains “forward-looking statements.” The words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “should,” “may,” “will,” “would” or the negative thereof and similar expressions are intended to identify such forward-looking statements. These statements include those related to Entegris’s 2030 CSR goals, plans to achieve such goals and reporting related thereto; the focus of Entegris’s engineering, research and development projects; Entegris’s ability to execute on its business strategies, including with respect to Entegris’s expansion of its presence globally; and other matters. Forward-looking statements address matters that are, to varying degrees, uncertain and subject to risks, uncertainties and assumptions, many of which that are beyond Entegris’s control, that could cause actual results to differ materially from those expressed in any forward-looking statements. These risks and uncertainties include, but are not limited to, those that are described in Entegris’s filings with the Securities and Exchange Commission, including under the heading “Risks Factors” in Item 1A of Entegris’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed with the Securities and Exchange Commission on February 5, 2021, and in Entegris’s other periodic filings. Except as required under the federal securities laws and the rules and regulations of the Securities and Exchange Commission, Entegris undertakes no obligation to update publicly any forward-looking statements or information contained herein, which speak as of their respective dates. Forward-looking statements are not guarantees of future results.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211021006077/en/

Media:

Connie Chandler

Director of Corporate Communications

T +1 978-436-6546

connie.chandler@entegris.com

Investor:

Bill Seymour

VP of Investor Relations

T +1 952-556-1844

bill.seymour@entegris.com

Source: Entegris

FAQ

What are the main highlights from Entegris' 2020 CSR report?

Entegris' 2020 CSR report highlights include over 35% investment in R&D, a TRIR of less than 0.74, and the establishment of the Entegris Foundation for STEM scholarships.

What goals does Entegris aim to achieve by 2030?

Entegris aims to achieve 55% of operational expenses in R&D, a 95% employee safety perception, and over $30 million in STEM scholarships by 2030.

How does Entegris plan to improve workplace safety?

Entegris plans to improve workplace safety by increasing employee participation in hazard reporting and aiming for 95% employee perception of safety by 2030.

Where is the new Entegris manufacturing facility being built?

The new Entegris manufacturing facility is being constructed in Taiwan.

What was the total recordable incident rate (TRIR) for Entegris in 2020?

Entegris reported a total recordable incident rate (TRIR) of less than 0.74 for 2020.