Lam Research Outlines Path, Progress to Net Zero Emissions
Lam Research Corporation (NASDAQ: LRCX) has released its 2021 Environment, Social and Governance (ESG) Report, detailing progress towards net zero emissions goals by 2050 and plans to operate on 100% renewable energy by 2030. Notable achievements include a 54% renewable energy usage in 2021, a 9% reduction in greenhouse gas emissions since 2019, and 99% diversion of hazardous waste from landfills. The company also introduced a new social impact framework and supported over 1,550 charitable organizations.
- 54% of energy used was renewable in 2021.
- 9% reduction in Scope 1 and 2 greenhouse gas emissions since 2019.
- 99% of hazardous waste was diverted from landfills in 2021.
- 6.3 million gallons of water saved in water-stressed regions.
- New social impact framework to enhance community support.
- Supply chain disruptions may limit product demand fulfillment.
- Inflationary pressures impacting profitability.
Semiconductor industry leader releases annual environmental, social and governance report, and unveils new program to empower social impact
FREMONT, Calif., June 29, 2022 /PRNewswire/ -- Lam Research Corporation (Nasdaq: LRCX), among the first companies in the semiconductor industry to proactively set a net zero emissions goal, today proudly released its 2021 Environment, Social and Governance (ESG) Report. The eighth annual report highlights how Lam is addressing its environmental footprint and advancing sustainability across the semiconductor ecosystem. Reflecting its commitment to "act with purpose for a better world," Lam also introduced its social impact framework to catalyze positive change in the community, inspire and educate tomorrow's future innovators, and foster a more inclusive society.
"As we transform the world through technology, we have a responsibility to help conserve our finite resources and take an active role in empowering a better future," said Tim Archer, president and chief executive officer of Lam Research. "Last year, we made big strides towards Lam's sustainability goals, established our net zero supply chain strategy and deepened our commitment to inclusion and diversity – all while growing our workforce by over 30 percent year-over-year and navigating the challenges of a global pandemic. I am proud of everything that we accomplished and am inspired to see what more we can achieve together."
Addressing our Environmental Footprint
Lam is taking a leadership role in driving sustainability in the semiconductor industry. Lam continues to demonstrate progress towards its previously announced goals to operate on 100 percent renewable energy by 2030 and achieve net zero by 2050. The company has implemented new practices and strategies that drive energy and water conservation, waste abatement, and greenhouse gas reductions. Sustainability is also a key consideration in the leading-edge products that Lam creates – from innovative development and design, to manufacturing responsibly, to delivering solutions that help support our customers' ESG goals. Examples of accomplishments in these areas include:
- Increased renewable energy usage – 54 percent of the energy used by Lam globally in 2021 was renewable, with sites in Ohio, U.S.; Penang, Malaysia; and China facilities reaching 100 percent renewable energy. *
- Decreased Scope 1 and Scope 2 greenhouse gas emissions by over 9 percent since 2019.
- Diverted 99 percent of hazardous waste from landfill in 2021.
- Saved 6.3 million gallons of water in water-stressed regions in 2021.
- Introduced a range of new and enhanced etch products that improved generator efficiency for NAND and foundry logic development by up to 15 percent, shortened clean times via chamber modifications by up to 30 to 50 percent, and decreased tool usage of helium by up to 80 percent.
- Established a new foundational strategy to propel sustainability throughout the supply chain, which spans over 25 countries. Lam also developed an engagement plan with ongoing training, support, and resources.
Powering Breakthroughs Together
Lam continues to deepen its commitment to making a meaningful impact through corporate giving and employee volunteerism. It supported communities and over 1,550 charitable organizations around the world in 2021.
Under the company's new social impact framework, Powering Breakthroughs Together, Lam is increasing its focus on advancing transformative learning, building resilient communities, and fostering inclusive societies. To support this effort, the company is introducing a new application system for Lam's grant program to make it easier for organizations to apply.
Lam was proud to be included in the 2021 Dow Jones Sustainability Index (DJSI) for North America, which recognizes the top 20 percent of sustainability performers among the 600 largest companies in the U.S. and Canada. The DJSI indices are widely considered to be among the world's leading benchmarks for corporate sustainability.
Further details on the company's environmental, social and governance strategies and 2021 accomplishments are available in Lam's 2021 ESG report.
Media Resources:
- Lam Research 2021 ESG Report
- Lam's blog, "Lam's 2021 ESG Report: acting with purpose for a better world"
- Lam's Net Zero Strategy
* 100 percent renewable energy at our Ohio, Malaysia and China achieved with the purchase of renewable energy credits (RECs). |
About Lam Research
Lam Research Corporation (NASDAQ: LRCX) is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research is a FORTUNE 500® company headquartered in Fremont, California, with operations around the globe. Learn more at www.lamresearch.com. (LRCX-B)
Caution Regarding Forward-Looking Statements
Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, but are not limited to: our net zero emissions goals, renewable energy goals, and other sustainability goals, our environmental footprint, sustainability in our industry, our social impacts, our inclusion and diversity initiatives, the performance of our products and our product development, and our corporate giving and employee volunteerism. Some factors that may affect these forward-looking statements include: supply chain disruptions have limited and are expected to continue to limit our ability to meet demand for our products; supply chain cost increases and other inflationary pressures have impacted and are expected to continue to impact our profitability; trade regulations, export controls, trade disputes, and other geopolitical tensions may inhibit our ability to sell our products; business, political and/or regulatory conditions in the consumer electronics industry, the semiconductor industry and the overall economy may deteriorate or change; the actions of our customers and competitors may be inconsistent with our expectations; the severity, magnitude and duration of the COVID–19 pandemic (and the related governmental, public health, business and community responses to it), and their impacts on our business, results of operations and financial condition, are evolving and are highly uncertain and unpredictable; and widespread outbreaks of illness may impact our operations and revenue in affected areas; as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our annual report on Form 10–K for the fiscal year ended June 27, 2021 and our quarterly report on Form 10-Q for the fiscal quarter ended March 27, 2022. These uncertainties and changes could materially affect the forward-looking statements and cause actual results to vary from expectations in a material way. The Company undertakes no obligation to update the information or statements made in this release.
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SOURCE Lam Research Corporation
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