Press release
Applied Materials Receives SBTi Validation of its Science-based Scope 1, 2 and 3 Emissions Reductions Targets
The validation marks a significant step towards Applied’s Net Zero 2040 Playbook – a collaborative approach to reducing the semiconductor industry’s carbon
About this update from Applied Materials, Inc.
[{"type":"text","content":"The validation marks a significant step towards Applied’s Net Zero 2040 Playbook – a collaborative approach to reducing the semiconductor industry’s carbon emissions\nSANTA CLARA, Calif., Dec. 01, 2023 (GLOBE NEWSWIRE) -- Applied Materials, Inc. today announced that its science-based Scope 1, 2 and 3 emissions reduction targets have received validation from the Science Based Targets initiative (SBTi). By setting a 1.5°C-aligned target, currently the most ambitious designation available through the SBTi process, Applied is aligning its emissions reduction program to the latest climate science, validated by a third party, and will report its progress annually. “Semiconductors are the foundation of technology advancements that are transforming the global economy and can improve peoples’ lives in so many ways. As demand for semiconductors increases, we must grow responsibly by collaborating broadly to reduce the industry’s environmental impact,” said Gary Dickerson, President and CEO of Applied Materials. “SBTi’s validation of our emissions reduction targets reflects Applied Materials’ commitment to minimize our own carbon footprint and to work closely with our suppliers and customers to help them achieve their climate goals.” Applied’s Scope 1 and Scope 2 greenhouse gas emissions are those produced directly by the company and by the energy it purchases. Its Scope 3 emissions, which make up more than 99 percent of Applied’s carbon footprint, consist of the upstream emissions from the company’s supply chain and the downstream emissions from the use of its products by customers. Following are Applied’s near-term science-based targets that have received SBTi validation: Applied Materials, Inc. commits to reduce absolute scope 1 and 2 GHG emissions 50% by FY2030 from a FY2019 base year.Applied Materials, Inc. also commits to increase active annual sourcing of renewable electricity from 36% in FY2019 to 100% by FY2030.Applied Materials, Inc. further commits to reduce scope 3 GHG emissions from use of sold products 55% per million USD of value added by FY2030 from a FY2019 base year. In order to achieve its ambitious emissions reduction targets, particularly Scope 3, Applied will collaborate closely with its customers, suppliers and industry partners, as outlined in the company’s Net Zero 2040 Playbook unveiled earlier this year. Areas of...