STOCK TITAN

How Qualcomm is Addressing the Climate Challenge

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

Qualcomm has made commitments to achieve net-zero global emissions for Scopes 1, 2, and 3 by 2040, aligning with the Science Based Targets initiative. The company has initiated several strategies, including transitioning to renewable energy through long-term Power Purchase Agreements and decarbonizing operations by replacing high global warming potential gases. Notably, a partnership with Shell Energy has reduced emissions by 25,785 tCO2e, achieving a 10% reduction in total Scope 1 and 2 emissions. Qualcomm also reduced natural gas use by 50% at its German facility. The company has implemented an internal carbon price to encourage low-carbon innovation, furthering its sustainability initiatives.

Positive
  • Achieved a 10% reduction in total Scope 1 and 2 emissions through partnerships.
  • Committed to net-zero emissions by 2040, aligning with industry standards.
  • Implemented long-term renewable energy agreements to support sustainability.
  • Reduced natural gas consumption by 50% in its German manufacturing facility.
Negative
  • None.

NORTHAMPTON, MA / ACCESSWIRE / April 21, 2023 / Qualcomm

As published in Qualcomm's 2022 Corporate Responsibility Report

In fiscal 2022, we announced our plans to achieve net-zero global emissions for Scopes 1, 2 and 3 by 2040 and committed to the Science Based Targets initiative's (SBTi) Business Ambition for 1.5°C. These goals reflect our belief that environmental sustainability is extremely important, with significant social and economic benefits that require collective action and leadership from our Company and other corporate citizens.

In line with our commitments, our strategy to achieve net-zero includes transitioning to renewable energy in our top operational footprint regions via long-term Power Purchase Agreements (PPAs), decarbonizing our operations through the replacement of high global warming potential gases in our manufacturing processes and reducing natural gas usage at our San Diego, California, headquarters. We also joined the Climate Pledge, a cross-sector community of companies committed to be net-zero by 2040 - 10 years ahead of the Paris Agreement's goals.

During our first full year of implementing this strategy, we've already made progress. Our 10-year renewable energy agreement with Shell Energy North America (US), L.P. (Shell Energy) has reduced our emissions by 25,785 tCO2 e, or 10 percent, of our total Scope 1 and 2 emissions since last year. Our solar PPA in Bangalore, India, (which began in 2018) continues to make a substantial contribution to our Scope 2 emission reductions in the amount of 15,284 tCO2 e (17,855 MWhrs) annually. We are also seeking to enter into long-term renewable energy agreements in our other top operational footprint regions of Europe, the Middle East and Africa (EMEA), India and Singapore.

Furthermore, in 2022, we reduced our consumption of natural gas at our German manufacturing facility by 50 percent by shutting down our combined heat and power plant. The remaining 50 percent of natural gas is used in waste air treatment to reduce emissions of volatile organic compounds (VOCs) and GHG emissions from manufacturing processes exhaust. To mitigate the climate impact from the remaining natural gas, we offset our consumption through green biogas certificates, which are produced in Europe from renewable plant material.

Following the successful test phase of our Plasma Enhanced Chemical Vapor Deposition (PECVD) chamber clean project in 2021 at our German manufacturing facility, we continued to implement gas replacement in all PECVD chamber clean processes. The project replaces high global warming potential gases such as sulfur hexafluoride (SF6 ) and nitrogen trifluoride (NF3 ) with a fluorine-based gas mixture that has a global warming potential of zero, thereby reducing our Scope 1 GHG emissions.

Finally, we also implemented an internal carbon price across our three manufacturing facilities, as appropriate. This carbon price creates an assumed cost per ton of carbon emissions with an annual rate increase per year, with the objective of changing our internal behavior toward low carbon innovation.

Learn more in Qualcomm's 2022 Corporate Responsibility Report

Qualcomm, Friday, April 21, 2023, Press release picture

View additional multimedia and more ESG storytelling from Qualcomm on 3blmedia.com.

Contact Info:
Spokesperson: Qualcomm
Website: https://www.3blmedia.com/profiles/qualcomm
Email: info@3blmedia.com

SOURCE: Qualcomm



View source version on accesswire.com:
https://www.accesswire.com/750627/How-Qualcomm-is-Addressing-the-Climate-Challenge

FAQ

What is Qualcomm's target for net-zero emissions?

Qualcomm aims for net-zero global emissions for Scopes 1, 2, and 3 by 2040.

How much reduction in emissions has Qualcomm achieved?

Qualcomm has achieved a reduction of 25,785 tCO2e, which is a 10% decrease in total Scope 1 and 2 emissions.

What strategies is Qualcomm implementing for sustainability?

Qualcomm is transitioning to renewable energy, replacing high global warming potential gases, and reducing natural gas usage.

What internal measures has Qualcomm taken to promote sustainability?

Qualcomm has implemented an internal carbon price across its manufacturing facilities to encourage low-carbon innovation.

Qualcomm Inc

NASDAQ:QCOM

QCOM Rankings

QCOM Latest News

QCOM Stock Data

177.05B
1.11B
0.1%
80.14%
2.08%
Semiconductors
Radio & Tv Broadcasting & Communications Equipment
Link
United States of America
SAN DIEGO