IQE PLC Iqe Plc: Iqe Announces Commitment To Net Zero And Science Based Targets
June 16 2022 - 2:00AM
UK Regulatory
TIDMIQE
IQE plc
Cardiff, UK
16 June 2022
IQE announces commitment to Net Zero and Science Based
Targets
-- IQE to become carbon neutral across operations by 2050
-- Net Zero commitment in alignment with the Science Based Targets
initiative
-- Ongoing Board-level oversight of IQE's ESG practices
IQE plc (AIM: IQE, "IQE" or the "Group"), the leading supplier
of compound semiconductor wafer products and advanced material
solutions to the global semiconductor industry, is pleased to
announce a formal commitment to Net Zero carbon neutrality across
its operations by 2050, in accordance with the Science Based
Targets initiative ("SBTi").
As part of this commitment, IQE will formulate science-based
targets to reduce greenhouse gas emissions in line with the SBTi
Net Zero Standard, which seeks to limit global warming to 1.5degC.
The SBTi defines and promotes best practice in emissions reductions
and Net Zero targets in line with climate science.
IQE and its Board remain committed to the implementation of
Environmental, Social and Governance ("ESG") best practice across
the Group. Today's announcement marks a significant step for IQE's
ESG Committee following its establishment in January 2022, as it
continues to build upon IQE's strategy to deliver sustainable
growth. The Board-level group oversees the Group's ESG activities
and performance against commitments, such as those announced today,
for the long-term benefit of all stakeholders.
Americo Lemos, Chief Executive Officer of IQE, commented:
"We recognise the unprecedented challenge posed by climate
change and the part we all need to play in the fight against global
warming. This commitment is an important milestone for IQE in our
journey towards improving our own operations, delivering
sustainable growth and being a truly responsible business for the
benefit of all. Over and above this, we also strongly believe that
the world's Net Zero targets will not be met without the widespread
uptake of compound semiconductors, which are vital in enabling next
generation efficient technologies, such as those needed for the
mass adoption of electric vehicles, in the power electronics
industry and smart power grids."
Contacts:
IQE plc
+44 (0) 29 2083 9400
Americo Lemos
Tim Pullen
Amy Barlow
Peel Hunt LLP (Nomad and Joint Broker)
+44 (0) 20 7418 8900
Edward Knight
Paul Gillam
James Smith
Citigroup Global Markets Limited (Joint Broker)
+44 (0) 20 7986 4000
Christopher Wren
Peter Catterall
Headland Consultancy (Financial PR)+ 44 (0) 20 38054822
Andy Rivett-Carnac: +44 (0) 7968 997 365
Antonia Pollock: +44 (0) 7789 954 356
embedded PR (Non-Financial PR)
Europe: Anja-Maria Hastenrath
Phone: +49 89 / 64913634-1
E-mail: ah@embedded-pr.de
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United States: Cynthia Hoye
Phone: +1 408-858-2602
E-mail: ch@embedded-pr.com
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ABOUT IQE
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http://iqep.com
IQE is the leading global supplier of advanced compound
semiconductor wafers and materials solutions that enable a diverse
range of applications across:
-- handset devices
-- global telecoms infrastructure
-- connected devices
-- 3D sensing
As a scaled global epitaxy wafer manufacturer, IQE is uniquely
positioned in this market which has high barriers to entry. IQE
supplies the whole market and is agnostic to the winners and losers
at chip and OEM level. By leveraging the Group's intellectual
property portfolio including know-how and patents, it produces
epitaxy wafers of superior quality, yield and unit economics.
IQE is headquartered in Cardiff UK, with c. 685 employees across
nine manufacturing locations in the UK, US, Taiwan and Singapore,
and is listed on the AIM Stock Exchange in London.
(END) Dow Jones Newswires
June 16, 2022 02:00 ET (06:00 GMT)
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