SOURCE: ON SemiconductorDESCRIPTION:
On April 22, ON Semiconductor marked two years as a Signatory to the United Nations (UN) Global Compact. As a UN Global Compact Signatory, ON Semiconductor participates alongside other global companies to make a difference in the communities where it operates. The company recently published its 2021 Communication on Progress (COP) report, reaffirming ON Semiconductor’s commitment to the UN Global Compact.
The participants developed a common vision of a sustainable world outlined in a resolution, which began with a “common vision”:
We, the Heads of State and Government, and high-level representatives, having met at Rio de Janeiro, Brazil, from 20 to 22 June 2012, with the full participation of civil society, renew our commitment to sustainable development and to ensuring the promotion of an economically, socially and environmentally sustainable future for our planet and for present and future generations.
With this document, the Sustainable Development Goals (SDGs), as we know them today, were established. The 17 Goals that we are familiar with were officially rolled out in 2015.
Although ON Semiconductor believes that all of the SDGs are vital, the company decided to prioritize five goals that are the most relevant to its sustainability strategy to make the largest global impact. When ON Semiconductor signed the UN Global Compact in 2019, its executive staff agreed to commit to the following five SDGs: SDG 6: Clean Water and Sanitation, SDG 8: Decent Work and Economic Growth, SDG 10: Reduced Inequalities, SDG 12: Responsible Consumption and Production and SDG 13: Climate Action. In 2020, the company baselined each target to track improvement and achievement of goals over time.
SDG 6 and SDG 12: ON Semiconductor’s environmental goals which target Clean Water and Responsible Consumption and Production are key to its long-term climate strategy. Our previous environmental goals expired in 2020. We are in the process of establishing new environmental goals.
SDG 8: Decent Work and Economic Growth align with the company’s commitment to the Responsible Business Alliance (RBA) Code and results are demonstrated through its RBA audit performance.
SDG 10: Reduced Inequalities are reflected inthe company’s Human Resources team’s reporting on diversity representation at various levels in the company. ON Semiconductor’s commitment to Human Right is outlined in its formal Human Rights Policy.
SDG 12: Responsible Consumption and Production the company’s Reclamation Center processes tons of scrap material and precious metals annually. Most of which is repurposed for other uses (e.g., circular economy) and its annual Corporate Social Responsibility (CSR) report is in its eighth year of reporting.
SDG 13: Climate Action – the company’s Climate Change Policy was approved in 2020 and includes educating its employees on climate/sustainability, ensuring sustainable manufacturing, producing sustainable products and challenging its employees to act sustainably while at work and in their personal lives. Additionally, the company is updating its long-term environmental strategy on climate.
Specifics regarding ON Semiconductor’s alignment to these five priority goals are detailed in the United Nations Sustainable Development Goals document.
ON Semiconductor’s CEO, Hassane El-Khoury, sent a signed statement to the UN Secretary General on April 27, 2021. In the statement, El-Khoury expressed ON Semiconductor’s continued support for the UN Global Compact and renewed the company’s ongoing commitment to the initiative and its Ten Principles.
ON Semiconductor is proud of the work it does to support the UN Global Compact. Please visit ON Semiconductor’s Social Responsibility Web page to learn more about the company’s commitment to the Sustainable Development Goals and the UN Global Compact.
Tweet me: .@onsemi marks its second year as a @globalcompact signatory and affirms its commitment with its recent Communication on Progress report. #CSRChampions #GlobalGoals #TenPrinciples https://bit.ly/3iQBAHy
KEYWORDS: Nasdaq:ON, ON Semiconductor, united nations, United Nations Global Compact