Micron Releases 2024 Sustainability Report Highlighting Progress and Long-Term Vision

Rhea-AI Summary

Micron Technology (Nasdaq: MU) has released its 2024 sustainability report, outlining significant progress in environmental sustainability, equality, inclusion, and innovation. The company achieved an 11% reduction in scope 1 greenhouse gas emissions compared to its 2020 baseline and is on track for 100% renewable electricity in the U.S. by 2025. Micron also reported improvements in water reuse and aims to divert 95% of its waste from landfills by 2030. The company has maintained pay equity since 2018 and expanded its analysis to include race, disabilities, and veterans. In addition, Micron spent $510 million on diverse suppliers in FY23 and invested over $11 million in STEM initiatives. Innovation highlights include the HBM3E memory solution, which reduces power consumption by ~30% while offering superior performance.

BOISE, Idaho, June 27, 2024 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq: MU), a global leader in innovative memory and storage solutions, today announced the release of its 2024 sustainability report. This report details Micron’s sustainability advancements, highlighting its award-winning efforts and reinforcing its commitment to sustainability and cutting-edge technology.

“Micron is helping drive technological advances that will create significant new opportunities in the years ahead,” said Micron President and CEO Sanjay Mehrotra. “Our 2024 sustainability report reflects our current commitments and future ambitions to employ technology to benefit our communities and the planet. Through significant dedication, we have made steady improvements, and I look forward to helping lead even greater gains across the semiconductor industry and ecosystem. We will continue to invest in initiatives that sustain our long-term vision to enrich life for all.”

Committing to environmental sustainability goals
Micron’s dedication to its environmental goals has yielded substantial progress. In 2023, the company reduced scope 1 greenhouse gas emissions by 11% compared to its 2020 baseline. The company is on track to source 100% renewable electricity in the U.S. by the end of 2025. Micron also maintained 100% renewable electricity use in Malaysia, achieved 100% renewable electricity for operations in mainland China in the last quarter of calendar year 2023, and expanded renewable energy efforts in Singapore, Taiwan and other locations.

Additionally, new water projects have boosted Micron’s water reuse, recycling and restoration rates to 66%, up from 50% in 2020. Micron is also making strides toward its goal of diverting 95% of its total waste from landfills by 2030 and eliminating hazardous waste disposed in landfills.

Fostering equality and inclusion
Micron remains steadfast in building a diverse workforce and inclusive team culture. The company engaged in critical partnerships with educational and government institutions around the world to expand the global applicant pool of diverse and exceptional talent. Membership in the company’s 10 actively engaged employee resource groups (ERGs) grew to more than 47% of its global workforce in fiscal year 2023 (FY23), representing a broad cross-section of the company across all geographies.

Since 2018, Micron achieved pay equity for women and has every year since. In 2020, the company expanded its pay equity analysis and ongoing achievement to include race/ethnicity, people with disabilities and U.S. veterans. This commitment extends to fostering thriving communities in all operational locations. As a founding member of the White House’s Economic Opportunity Coalition, Micron is part of a public-private partnership focused on unlocking the potential of communities of color, low-income areas, rural regions, and other historically underserved communities. Additionally, Micron is committed to building a robust and sustainable supplier ecosystem, having reached nearly $510 million in total diverse supplier spending in FY23.

Investing in community engagement
In 2023, the Micron Foundation invested more than $11 million in STEM education and community enrichment initiatives, with nearly $2.5 million directed through team member matching gifts. Micron’s robust culture of giving is demonstrated by more than 80% of team members participating in giving or volunteering activities and logging more than 200,000 volunteer hours in 2023.

Innovating for the future
Micron continues to set reduced power consumption benchmarks for the industry with its latest product innovations. Building on this trend, Micron’s new high-bandwidth memory solution (HBM3E) demonstrates Micron’s leadership in energy efficiency without sacrificing superior performance. Customers continue to provide strong feedback highlighting that Micron’s HBM3E memory leads the industry with ~30% reduction in power consumption compared to competitive offerings. With pin speed greater than 9.2 gigabits per second (Gb/s), Micron HBM3E delivers more than 1.2 terabytes per second (TB/s) of memory bandwidth, enabling lightning-fast data access for AI accelerators, supercomputers and data centers. Additionally, Micron was first to market with its low-power memory solution, LPCAMM2 for AI-powered PCs and the LPDDR5X for AI-ready mobile devices. Both solutions are designed to deliver exceptional performance with reduced energy usage. For more information, read Micron's 2024 sustainability report.

About Micron Technology, Inc.
We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND and NOR memory and storage products through our Micron® and Crucial® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence (AI) and compute-intensive applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com.

© 2024 Micron Technology, Inc. All rights reserved. Information, products, and/or specifications are subject to change without notice. Micron, the Micron logo, and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners.

Micron Media Relations Contact
Erica Rodriguez Pompen
Micron Technology, Inc.
+1 (408) 834-1873
epompen@micron.com

Micron Investor Relations Contact
Satya Kumar
Micron Technology, Inc.
+1 (408) 450-6199
satyakumar@micron.com

FAQ

What are the key highlights of Micron's 2024 sustainability report?

Micron's 2024 sustainability report highlights an 11% reduction in greenhouse gas emissions from its 2020 baseline, progress towards 100% renewable electricity in the U.S. by 2025, and significant innovations like the HBM3E memory solution.

How much did Micron reduce its greenhouse gas emissions by 2023?

Micron reduced its scope 1 greenhouse gas emissions by 11% compared to its 2020 baseline.

What renewable energy goals has Micron achieved?

Micron aims to source 100% renewable electricity in the U.S. by 2025 and has already achieved 100% renewable electricity use in Malaysia and mainland China.

What is Micron's target for waste diversion by 2030?

Micron aims to divert 95% of its total waste from landfills by 2030.

How has Micron promoted pay equity?

Micron achieved pay equity for women since 2018 and has expanded this analysis to include race, disabilities, and veterans.

How much did Micron invest in STEM education in 2023?

Micron invested more than $11 million in STEM education and community enrichment initiatives in 2023.

What performance benefits does Micron's HBM3E memory solution offer?

Micron's HBM3E memory solution offers a ~30% reduction in power consumption while providing over 1.2 terabytes per second of memory bandwidth.