Climate change is having tangible impacts to businesses: Extreme weather events can cause operational disruption and the cost of energy, water, and waste is increasing. We are also faced with rapid industry growth, rising technological complexity, and a global talent shortage with a particularly large deficit in science, technology, engineering, and math (STEM) careers. Attracting and retaining the workforce of the future has never been more important, and it requires strategic investment in the right workplace policies and social and environmental programs.
Led by our Guiding Principle to act with purpose for a better world, we are reimagining what is possible for our future. Conserving finite resources, championing inclusion and diversity, and driving product sustainability efforts – simultaneous progress in all these areas is required to maintain leadership and strengthen the company.
Led by our Guiding Principle to act with purpose for a better world, we are reimagining what is possible for our future.
Our business model has evolved to reflect that ESG is now an imperative, and we are committed to progress. I am proud to say that in 2021, for the first time, we were named to the North America Dow Jones Sustainability Index, which recognizes the top 20% of sustainability performers among the 500 largest companies in the U.S. and Canada.
We were among the first in the semiconductor industry to set a goal to reach net zero by 2050. In 2021, we took swift action to put a plan in place with a clear roadmap and strong governance and committed to setting a science-based target. We’re already making progress toward this goal, with our facilities in Ohio, US; Malaysia, China, and Austria operating on 100% renewable energy.
In keeping with integrating ESG into all that we do, we elevated Inclusion and Diversity to our Core Values, to formally reflect what we practice every day. We are rethinking philanthropic investments, recruiting tactics, and workplace practices to attract and retain the best people today and improve our STEM pipeline for the future. This includes a global, expanded parental leave program that puts Lam at the forefront of the industry, as well as a new On-Site and Flexible workplace policy designed to achieve our business goals, while supporting a better balance of how we live and where and when we work.
The stakes are high. Achieving net zero and creating a workforce representative of our population is a significant undertaking, on par with some of the biggest obstacles we’ve faced in semiconductor equipment manufacturing. At Lam, we have spent our first four decades diligently solving the unsolvable - and we remain committed to proving what we believe is possible for a better and brighter future. We hope you’ll join us.
President & Chief Executive Officer