Yahoo Finance Lam Research Highlights its Progress to Create a Better World Through Semiconductor Innovation in 2023 ESG Report
FREMONT, Calif., June 27, 2024 /PRNewswire/ -- Lam Research Corp. (Nasdaq: LRCX) today released its 2023 Environment, Social, and Governance (ESG) report, detailing accomplishments, and quantified results in these areas as the company continues to unleash the power of innovation for a better world.
"We have entered the era of artificial intelligence and semiconductors are transforming the world around us in new and remarkable ways," said Tim Archer, president and chief executive officer of Lam Research. "It is with great pride that we continue to work with our customers and ecosystem partners to make marked progress towards creating a more sustainable future enabled by semiconductors."
As a global leader of wafer fabrication equipment and services, Lam's technology is at the core of the semiconductor industry's most exciting innovations. Lam is focused on enabling a better world by driving towards ambitious ESG goals across its business operations, the leading-edge products it creates, the customers and partners with whom it collaborates, the diverse and inclusive workplace it strives to enable, and communities in which it operates.
The 11th annual report provides data and information on the company's ESG journey in 2023, including new breakthroughs and practices that are expected to further enhance the sustainability of the company's operations and products, bringing the company closer to its goal to achieve net zero emissions by 2050. Highlights of Lam's 2023 ESG results include:
An Energy Saving Mindset "Empowered" by Renewable Electricity: Lam saved ~2.8M kWh of energy worldwide through a range of initiatives. Increasing the usage of renewable electricity also continued to be a focus for Lam. Globally, Lam generated 5.5M kWh of electricity from solar and nearly doubled consumption of renewable energy.
Practicing Water Stewardship: Lam relies on water to operate many of its systems and is dedicated to using this resource responsibly and efficiently. This is especially true in regions that are deemed water stressed, where Lam saved 20.1 million gallons of water globally in 2023. In addition, Lam completed a multi-year wastewater reclamation project in Fremont, California, from which it intends to save millions of gallons of water per year.
Innovating While Reducing our Carbon Footprint: Lam identified a wafer-less auto-cleaning process for Lam etch products with the potential to reduce nitrogen trifluoride (NF3) emissions by up to 85%.1 Lam also used virtual solutions that accelerate problem-solving and harness AI as a tool for our scientists and engineers. Utilizing simulation in place of physical experimentation helped Lam reduce research and development emissions and chemical usage.
Product Enhancements Improve Sustainability for Customers: Lam developed features that can reduce its customers' NOx emissions by approximately 50% through deposition abatement and N2O emissions by approximately 30% via undercoat and pre-treatment steps.1 In addition, the company enhanced and expanded the availability of its ECO Mode feature to many of its product lines and customer tools in the field, which has the potential to reduce peripheral energy usage by 40% in idle state.
Powering Breakthroughs Together: Lam strives to build more inclusive societies, more resilient communities, and support transformative learning, with $6.8M donated by The Lam Foundation2. Additionally, through its $10M donation to FIRST® Global, Lam continues to strive to inspire and create opportunities for future innovators through science, technology, engineering, and mathematics (STEM) education.
Developing a Workforce with a Culture of Growth: Lam is dedicated to providing an environment where every employee has an opportunity to thrive, providing a range of workforce development opportunities and tools. For employees, Lam offers seven wide-ranging internal leadership development programs to provide tailored opportunities for growth throughout their career.
Awards and Accolades: Lam was honored to receive a wide range of recognitions from customers and industry in 2023, including being named one of the World's Most Admired Companies by Fortune Magazine and one of the World's Best Companies by Time Magazine. Ethisphere also named Lam among the World's Most Ethical Companies in 2023 – the only wafer fabrication equipment maker and one of only two companies in the semiconductor category to be included on the prestigious list in 2023.
More information about the company's sustainability goals and its environmental, social and governance accomplishments are available in Lam's 2023 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.
See the Lam Research 2023 ESG Report, page 73, for additional details regarding emissions methodology.
Includes $1.3M in corporate matches for employee monetary donations and volunteer time.
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 sustainability progress; the role and significance of our technology within our industry; the future sustainability of our operations and products; our ESG goals, including our net zero emissions goals and other sustainability goals and our ability to achieve them; and emissions and energy savings to be realized through the use of our technologies, products and solutions. Some factors that may affect these forward-looking statements include: trade regulations, export controls, trade disputes, and other geopolitical tensions 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; the actions of our customers and competitors may be inconsistent with our expectations; supply chain cost increases and other inflationary pressures have impacted and may continue to impact our profitability; supply chain disruptions or manufacturing capacity constraints may limit our ability to manufacture and sell our products; natural and human-caused disasters, disease outbreaks, war, terrorism, political or governmental unrest or instability, or other events beyond our control may impact our operations and revenue in affected areas; 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 25, 2023 and our quarterly report on Form 10-Q for the fiscal quarter ended March 31, 2024. 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.
Company Contacts:
Laura Bakken
Media Relations
(510) 572-9021
publicrelations@lamresearch.com
Ram Ganesh
Investor Relations
(510) 572-1615
investor.relations@lamresearch.com
Source: Lam Research Corporation, (Nasdaq: LRCX)
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