Keysight Technologies Commits to Net Zero Emissions by End of 2040

Rhea-AI Summary

Keysight Technologies (NYSE: KEYS) has committed to achieving net zero emissions in its operations by the end of fiscal year 2040, a decade ahead of the Paris Agreement. The initiative aims to align with global efforts to limit climate change, with interim goals including 55% renewable energy by 2030 and 100% renewable energy by 2040. Keysight's strategy emphasizes energy efficiency, conservation, and investment in renewable sources. The company also supports its customers in meeting their climate goals through sustainable solutions.

Positive

• Achieving net zero emissions a decade ahead of the Paris Agreement.
• Commitment to 100% renewable energy by 2040.
• Focus on energy efficiency and conservation initiatives.

Negative

• None.

Keysight Technologies, Inc. (NYSE: KEYS), a leading technology company that delivers advanced design and validation solutions to help accelerate innovation to connect and secure the world, has announced that it will achieve net zero emissions in its operations by end of fiscal year 2040, a decade ahead of the Paris Agreement’s timeline.

“Keysight is committed to help mitigate the worst impacts of climate change,” said Ingrid Estrada, Keysight’s chief administrative officer. “This commitment puts our environmental sustainability efforts in alignment with the Paris Agreement’s preferred goal to limit global warming to 1.5 degrees Celsius, which many of our customers and investors now expect from their strategic partners.”

Keysight’s strategy focuses on achieving net zero emissions in its operations (Scope 1 and Scope 2) through energy efficiency and conservation, investment in renewable energy and selective purchase of certified offsets to neutralize any residual emissions. In particular, the company’s renewable energy approach will consider a mix of on-site renewable energy installations, procurement of green energy from utility providers and power purchase agreements in solar and wind energy.

To ensure progress and accountability towards the net zero goal, Keysight has committed to the following interim measures:

• By the end of fiscal year 2030 – the company commits to 55% renewable energy and 10% energy reduction through efficiency and conservation initiatives (based on fiscal year 2019 baseline)
• By the end of fiscal year 2040 – the company commits to 100% renewable energy and 20% energy reduction through efficiency and conservation initiatives (based on fiscal year 2019 baseline)

Through this process, Keysight will commit to the Science Based Targets initiative to develop approved science-based targets across relevant scopes.

In addition to these operational targets, Keysight’s sustainably developed solutions and services enable its customers to meet their own climate goals. The company’s circular economy approach to its product lifecycle model helps mitigate environmental impacts with a focus on utilization longevity, maintenance service, reuse, remanufacturing and recycling. Keysight's design, test, manufacture and optimization solutions are also critical enablers for customers implementing disruptive technologies in automotive electro-mobility, renewable energy and smart infrastructures in support of global environmental sustainability.

"Our net zero goal sends a clear message to key stakeholders about our strategic direction in environmentally sustainable operations," said Ron Nersesian, Keysight chairman, president and CEO. "By connecting these operational efforts with our sustainably-developed solutions and services that empower the clean tech and eMobility transformation, Keysight continues to exemplify our commitment to a sustainable future.”

Additional information

• Keysight Net Zero Emissions in Operations Editorial Backgrounder
• Keysight 2020 CSR Report
• Keysight Environmental Sustainability
• Keysight's Response to Climate Change
• Keysight Solutions for Environmental Sustainability

About Keysight Technologies

Keysight delivers advanced design and validation solutions that help accelerate innovation to connect and secure the world. Keysight’s dedication to speed and precision extends to software-driven insights and analytics that bring tomorrow’s technology products to market faster across the development lifecycle, in design simulation, prototype validation, automated software testing, manufacturing analysis, and network performance optimization and visibility in enterprise, service provider and cloud environments. Our customers span the worldwide communications and industrial ecosystems, aerospace and defense, automotive, energy, semiconductor and general electronics markets. Keysight generated revenues of $4.2B in fiscal year 2020. For more information about Keysight Technologies (NYSE: KEYS), visit us at www.keysight.com.

Additional information about Keysight Technologies is available in the newsroom at https://www.keysight.com/go/news and on Facebook, LinkedIn, Twitter and YouTube.

Source: IR-KEYS

View source version on businesswire.com: https://www.businesswire.com/news/home/20210517005713/en/

FAQ

What is Keysight's plan for achieving net zero emissions?

Keysight plans to achieve net zero emissions in its operations by 2040, focusing on energy efficiency, conservation, and renewable energy investments.

When will Keysight reach its renewable energy goals?

Keysight aims for 55% renewable energy by the end of fiscal year 2030 and 100% by the end of fiscal year 2040.

How does Keysight support its customers in sustainability?

Keysight offers sustainably developed solutions that help customers meet their own climate goals.

What is Keysight's revenue for the fiscal year 2020?

Keysight generated revenues of $4.2 billion in fiscal year 2020.

What are the interim targets set by Keysight for emissions reduction?

Keysight commits to a 10% energy reduction through efficiency and conservation initiatives by 2030.