GlobalFoundries Recognized on USA Today’s “America’s Climate Leaders 2024” List

Rhea-AI Summary

GlobalFoundries (Nasdaq: GFS) has been named to USA Today's 'America's Climate Leaders 2024' list, recognizing the company's commitment to sustainability. This accolade is part of GF's broader efforts, including a pledge to achieve net-zero greenhouse gas emissions and 100% carbon-neutral power by 2050. The company aims for a 25% reduction in emissions by 2030, aligned with the Paris Agreement goals. GF has also been recognized by Morningstar Sustainalytics, ISS, and Newsweek for its ESG performance and corporate responsibility.

Positive

• GlobalFoundries (GFS) named to USA Today's 'America's Climate Leaders 2024' list.
• GF commits to achieving net-zero greenhouse gas emissions and 100% carbon-neutral power by 2050.
• On track to meet a 25% reduction in emissions by 2030, aligned with the Paris Agreement.
• Recognized by Morningstar Sustainalytics, ISS, and Newsweek for ESG performance and corporate responsibility.

Negative

• No immediate financial gains or direct business benefits reported from the accolade.
• Long-term sustainability goals may require significant investment and resources, potentially impacting short-term profitability.

MALTA, N.Y., May 30, 2024 (GLOBE NEWSWIRE) -- GlobalFoundries (Nasdaq: GFS) (GF) has been named to USA Today’s “America’s Climate Leaders 2024” list. GF’s inclusion on the list, announced today and viewable here, is the latest recognition of the company’s longstanding commitment to sustainability and corporate responsibility.

“Our team works every day to find new efficiencies and innovate new ways to minimize our impact on the environment. It’s fundamental to who we are as a company,” said Brian Raley, director of sustainability at GF. “We are proud to have our efforts recognized by USA Today and to be included on its list of ‘America’s Climate Leaders 2024.’”

The “America’s Climate Leaders 2024” list is based on independent research and analysis of submitted and publicly available information, including data from the Carbon Disclosure Project and independent reports. The final list recognizes 450 companies across multiple industries.

Last month, GF announced it was furthering its commitment to sustainable operations and fighting climate change with new long-term goals to achieve net-zero greenhouse gas emissions and 100% carbon-neutral power by 2050. Aligned with Paris Agreement goals, GF's new goals build upon the company's Journey to Zero Carbon pledge in 2021 to reduce its greenhouse gas emissions by 25% from 2020 to 2030, even as the company continues to expand its global manufacturing capacity. GF is on track to meet this 25% reduction goal by 2030.

Other recent recognitions of GF’s sustainability and corporate responsibility efforts include being named to Morningstar Sustainalytics’ “2024 Top-Rated ESG Companies,” maintaining a “Prime” corporate ESG performance rating in 2023 from ISS and being named to Newsweek’s 2023 and 2024 lists of “America’s Most Responsible Companies.”

Learn more about sustainability and corporate responsibility at GF and see a full list of the company’s sustainability awards and recognitions at: https://gf.com/about-us/corporate-responsibility

About GF

GlobalFoundries (GF) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development, and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit www.gf.com.

©GlobalFoundries Inc., GF, GlobalFoundries, the GF logos and other GF marks are trademarks of GlobalFoundries Inc. or its subsidiaries. All other trademarks are the property of their respective owners.

Forward-looking Information

This news release may contain forward-looking statements, which involve risks and uncertainties. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. GF undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

Media Contact:
GlobalFoundries
Michael Mullaney
michael.mullaney@gf.com

FAQ

What recognition did GlobalFoundries (GFS) receive in 2024?

GlobalFoundries (GFS) was named to USA Today's 'America's Climate Leaders 2024' list.

What are GlobalFoundries' (GFS) long-term sustainability goals?

GlobalFoundries aims to achieve net-zero greenhouse gas emissions and 100% carbon-neutral power by 2050.

What intermediate sustainability target has GlobalFoundries (GFS) set for 2030?

GlobalFoundries aims to reduce greenhouse gas emissions by 25% from 2020 levels by 2030.

Which other sustainability recognitions has GlobalFoundries (GFS) received?

GlobalFoundries has been recognized by Morningstar Sustainalytics, ISS, and Newsweek for its ESG performance.