Global semiconductor equipment and services company KLA Corporation announced today a new series of sustainability commitments, including a target to reduce Scope 1 and 2 emissions by 50% by 2030 from a 2021 baseline, and reach net zero Scope 1 and 2 emissions by 2050. The new commitments were unveiled with the release of the company’s 2021 Global Impact Report,
KLA stated that its new climate goals have been set in reference to the Science Based Targets Initiative’s (SBTi) Corporate Net-Zero Standard Criteria. SBTi is one of the key organizations focused on aligning corporate environmental sustainability action with the global goals of addressing and limiting climate change. The organization launched its Net Zero Standard last year, setting stringent criteria which it uses to assess and certify corporate commitments to achieve net zero emissions.
The new targets follow KLA’s commitment, announced last year, to use 100% renewable electricity across its global operations by 2030, and the issuance earlier this year of the company’s first sustainability-linked bond, with costs on the debt tied to performance against its goals to increase the use of renewable energy and cut CO2 emissions.
In addition to its newly operational emissions targets, KLA said that it is also planning to evaluate and announce progress toward the development of Scope 3 reduction targets by the end of next year.
KLA’s impact report also highlighted some of the company’s community efforts from the past year, which included making a total of $3.9 million in grants and donating $550,000 to support COVID-19 relief in India through the KLA Foundation grants program. The company also made $530,000 in grant funding to five nonprofits in the South Bay/Silicon Valley and Metro Detroit areas through the KLA Social Equity Fund.
Rick Wallace, President and Chief Executive Officer of KLA Corporation, said:
“In 2021, we remained steadfast in our commitment to fulfill our mission of being positive stewards and living our values. Our 2021 Global Impact Report is a testament to KLA’s dedication to continuous innovation and a summary of the environmental, social and governance strides we have made in just one year.”