Synopsys Sets Target for 25 Percent Greenhouse Gas Emissions Reduction by 2024

Rhea-AI Summary

On June 23, 2020, Synopsys (Nasdaq: SNPS) announced its plan to reduce greenhouse gas emissions by 25% by 2024, using 2018 as a baseline. The company has achieved CarbonNeutral certification for the second consecutive year, offsetting approximately 90,000 metric tons of CO2 equivalent in 2020. This commitment aligns with the Paris Agreement to limit global temperature rise. Synopsys aims to enhance energy efficiency and increase the use of renewable energy to meet its emissions goals.

Positive

• Achieved CarbonNeutral certification for 2020, offsetting ~90,000 metric tons of CO2.
• Sets an ambitious target to reduce emissions by 25% by 2024 compared to 2018.
• Aligns emission reduction efforts with the Paris Agreement climate goals.

Negative

• None.

MOUNTAIN VIEW, Calif., June 23, 2020 /PRNewswire/ -- Synopsys, Inc. (Nasdaq: SNPS) today announced its commitment to reducing its greenhouse gas emissions by 25 percent by 2024, compared with its 2018 baseline. In addition, Synopsys has achieved CarbonNeutral^® certification across its global operations for the second consecutive year, offsetting approximately 90,000 metric tons of carbon dioxide equivalent in 2020. The reduction of emissions and neutralization of the company's carbon footprint reflect Synopsys' Corporate Social Responsibility (CSR) commitment to an environmentally sustainable future. 

"Measuring, reducing, and offsetting our carbon footprint and embracing clean energy are all about leaving a legacy of vitality to future generations," said Synopsys co-CEO Aart de Geus. "While our emissions target is ambitious, our whole team at Synopsys is committed to achieving these goals and expanding our leadership in combatting climate change."

Synopsys has used the best available science-based guidance in developing its new scope 1 and 2 emissions reduction target. The target, in line with the goal to keep global temperature rise within 1.5 degrees Celsius above pre-industrial levels, is based on the Paris Agreement under the United Nations Framework Convention on Climate Change. To meet its target, the company will focus primarily on implementing energy efficiency measures and increasing its use of clean and renewable sources of energy.

Synopsys' emissions reduction target is an important component of the company's carbon neutrality commitment initiated in 2019. Synopsys has undertaken its carbon neutrality initiative in accordance with The CarbonNeutral Protocol, and the company has again achieved certification as a CarbonNeutral company for 2020. Through the purchase of Renewable Energy Certificates (RECs) and investments in offset projects, Synopsys neutralized the 2020 carbon footprint of its global operations spanning 116 offices and more than 14,500 employees.

The CarbonNeutral certification is valid for one year and is based on data from the previous calendar year's actual emissions.

Additional details about Synopsys CSR initiatives can be found in its 2019 CSR Report.

About Synopsys

Synopsys, Inc. (Nasdaq: SNPS) is the Silicon to Software^™ partner for innovative companies developing the electronic products and software applications we rely on every day. As the world's 15th largest software company, Synopsys has a long history of being a global leader in electronic design automation (EDA) and semiconductor IP and is also growing its leadership in software security and quality solutions. Whether you're a system-on-chip (SoC) designer creating advanced semiconductors, or a software developer writing applications that require the highest security and quality, Synopsys has the solutions needed to deliver innovative, high-quality, secure products. Learn more at www.synopsys.com.

Editorial Contact:
Simone Souza                                                                  
Synopsys, Inc.
650-574-6454
simone@synopsys.com  

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SOURCE Synopsys, Inc.

FAQ

What is Synopsys' emissions reduction target for 2024?

Synopsys aims for a 25% reduction in greenhouse gas emissions by 2024, compared to its 2018 baseline.

How much carbon dioxide did Synopsys offset in 2020?

Synopsys offset approximately 90,000 metric tons of carbon dioxide equivalent in 2020.

What certification did Synopsys achieve for its carbon footprint?

Synopsys achieved CarbonNeutral certification for its global operations for 2020.

How does Synopsys plan to reduce its emissions?

The plan includes implementing energy efficiency measures and increasing the use of clean and renewable energy.

What global agreement does Synopsys' emissions target align with?

Synopsys' emissions reduction target aligns with the goals of the Paris Agreement.