ON Semiconductor Recognized by Newsweek for Its CSR and Sustainability Efforts
ON Semiconductor (ONSEM, NASDAQ: ON), a leader in smart power and smart sensing technologies, announced that it was named one of the most responsible companies in the United States in 2023 by Newsweek. This year marks its fourth consecutive year, cementing its reputation as a good corporate citizen.
Last year, ON Semiconductor made great progress in terms of environment, society and governance (hereinafter referred to as “ESG”), including a 5% reduction in water consumption year-on-year and a tripling of the number of female executives. By the end of 2022, the company’s contribution through the ON Semiconductor Foundation (part of ON Semiconductor’s Giving Now program) will exceed $1.3 million and is committed to advancing the Science Based Targets Initiative (SBTi). This commitment will ensure that the company’s near-term emissions reduction targets are aligned with the latest climate science.
Kim Luu, Senior Director and Division Head of Sustainability and ESG at ON Semiconductor, said: “Our products help solve the world’s greatest challenge, climate change. In addition to providing sustainable technology, we also ensure that operations are conducted in an environmentally and socially responsible manner.”
The most responsible companies in the United States in 2023 were selected based on key performance indicators (hereinafter referred to as “KPI”) disclosed in corporate social responsibility (hereinafter referred to as “CSR”) and sustainability reports. These KPIs focus on the company’s environmental, social and corporate governance performance. Additionally, an independent survey was conducted to assess corporate reputation by asking US citizens about their perceptions of their CSR-related activities. In the end, 500 American companies covering 14 industries were shortlisted for recognition.