FREMONT, Calif. , July 18, 2023 /PRNewswire/ -- Lam Research Corp. (Nasdaq: LRCX) today announced that quantifiable progress has been made toward its environmental, social and governance (ESG) goals with the release of its 2022 ESG report.
"Semiconductors continue to play a critical role in shaping our future, but greater opportunity also means greater responsibility," said Tim Archer, president and chief executive officer of Lam Research. "As we continue to innovate the next generation of technology breakthroughs, we must do so while considering the long-term sustainability of our industry and our planet."
Lam's global ESG program is rigorous, transparent, and aligned with best-in-class practices. The ninth annual report illustrates the data and stories behind Lam's 2022 ESG accomplishments, which include becoming the first U.S.-based semiconductor equipment manufacturer to have its near-term emissions reduction targets approved by the Science Based Targets initiative.1
Lam's continued progress toward its ESG goals included exceeding its 2025 goals for water savings as well as surpassing its 2025 goal for employee volunteer hours, prompting the company to update its goals for both areas.
Promoting Future Innovation
Lam sponsors and participates in numerous industry and university events which collectively address the semiconductor industry's most pressing challenges. Its 2022 technical symposium event brought together industry and academia experts to share and discover leading-edge technologies aimed at advancing environmental sustainability for semiconductor fabrication. In addition, Lam's venture group, Lam Capital, hosted a start-up pitch competition during the event and offered the winning team – xLight – a $250,000 investment. xLight is developing an energy-efficient technology for photolithography.
Supporting a STEM Talent Pipeline
To increase its impact on the development of a strong pipeline of STEM talent, Lam pledged to donate $10 million to the nonprofit FIRST® Global to help bring science and technology education to youth around the globe. With this relationship, Lam is helping to create opportunities for continuous discoveries and inspire the next generation of innovators.
Increasing Industry Collaboration
Lam's efforts to build a responsible and sustainable semiconductor ecosystem include working closely with companies around the world and in its industry. Lam joined the UN Global Compact, the world's largest sustainability initiative, with an ambition for businesses to take shared responsibility for achieving a better world. Lam also worked with industry leaders to form the Semiconductor Climate Consortium, a new collaboration with SEMI to accelerate the industry's response to climate change.
Building a Sustainable Supply Chain
In addition to collaborating closely with customers on environmental sustainability opportunities, Lam works across its supply chain with a goal to increase supplier engagement and assess suppliers' performance on human rights and climate action. In 2022 Lam engaged 100% of its top-tier suppliers in sustainability opportunities through Lam's climate pledge, training, and events.
Expanding Green Product Features
Lam is focused on developing smarter, more efficient products and processes to measure and reduce the greenhouse gas emissions of its tools. New sustainability features in 2022 included the release of a new ECO Mode feature for its 2300® and Sense.i® etch tools which saves on peripheral energy in idle mode and results in faster tool time recovery.
Receiving Awards and Recognition
The company received several recognitions in 2022 for its ESG efforts. For the second year in a row, Lam was named to the Dow Jones Sustainability Index for North America, a ranking by S&P Global that reflects the top 20% of sustainability performers among the 600 largest U.S. and Canadian companies in the S&P Global Broad Market Index.
Lam proudly received top supplier awards from customers in 2022, and the company was also included in various industry recognitions, including Fortune's Worlds Most Admired Companies, Newsweek's list of America's Most Responsible Companies, Forbes World's Top Female Friendly Companies, and the Human Rights Campaign's Best Places to Work for LGBTQ+ Equality.
Further details on the company's environmental, social and governance strategies and accomplishments are available in Lam's 2022 ESG report.
About Lam Research
Lam Research Corporation (NASDAQ: LRCX) is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research is a FORTUNE 500® company headquartered in Fremont, California, with operations around the globe. Learn more at www.lamresearch.com.
Caution Regarding Forward-Looking Statements
Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, but are not limited to: our net zero emissions goals, renewable electricity goals, and other sustainability goals and our ability to achieve them; and projections on the amount and progress of our environmental footprint, sustainability in our industry, our social impacts, and our corporate giving and employee volunteerism. Some factors that may affect these forward-looking statements include: government actions such as trade regulations, and export controls; trade disputes, and other geopolitical tensions that may inhibit our ability to sell our products; business, political and/or regulatory conditions in the consumer electronics industry, the semiconductor industry and the overall economy may deteriorate or change; and technology demands and capabilities may not result in the changes that we anticipate, which are required for us to meet our future goals; as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our annual report on Form 10–K for the fiscal year ended June 26, 2022 and our quarterly report on Form 10-Q for the fiscal quarter ended March 26, 2023. These uncertainties and changes could materially affect the forward-looking statements and cause actual results to vary from expectations in a material way. The Company undertakes no obligation to update the information or statements made in this release.
Source: Lam Research Corporation, (Nasdaq: LRCX)
1 Lam's 2030 emissions reduction goal was validated in 2022 and was subsequently restated in 2023 in alignment with SBTi.
SOURCE Lam Research Corporation