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KLA Corporation released its 2021 Global Impact Report, highlighting its most recent environmental, social and governance (ESG) progress and goals. Its purpose is to promote the sustainable growth of the business and inform KLA's stakeholders about the company's approach to managing and measuring its ESG performance.
"In 2021, we remained steadfast in our commitment to fulfill our mission of being positive stewards and living our values," commented Rick Wallace, president and chief executive officer of KLA Corporation. "Our 2021 Global Impact Report is a testament to KLA's dedication to continuous innovation and a summary of the environmental, social and governance strides we have made in just one year."
Reducing KLA's Environmental Footprint
Following the UN Intergovernmental Panel on Climate Change (IPCC) recent warnings around the catastrophic impact of global warming, KLA recognized the urgent call to action for businesses to do their part to reduce global emissions. Therefore, the company set a target to reduce its Scope 1 and 2 emissions by 50% by 2030 from its 2021 (third-party verified) baseline and achieve net zero Scope 1 and 2 emissions by 2050. These scope 1 and 2 emissions targets were set in reference to the Science Based Targets Initiative's (SBTi) Corporate Net-Zero Standard Criteria. In addition, KLA will evaluate and announce progress toward the development of Scope 3 emissions reduction goals by the end of 2023.
These developments follow a previously announced goal to use 100% renewable electricity across KLA's global operations by 2030.
KLA Invests in The Community, Strengthens Inclusion & Diversity Efforts
Through the KLA Foundation grants program, KLA invests in local organizations to create upstream solutions for sustainable change. In 2021, the KLA Foundation made a total of $3.9 million in grants and donated $550,000 to support COVID-19 relief in India, building upon its prior $2 million contribution toward COVID-19 relief efforts. Through the KLA Social Equity Fund established in 2020 in partnership with the American Heart Association, $530,000 in grant funding was made to five nonprofits in the South Bay/Silicon Valley and Metro Detroit areas.
The report also highlights the company's efforts to strengthen its engagement around Inclusion and Diversity (I&D) to address unconscious bias, non-discrimination and anti-harassment throughout the organization.
The development of the 2021 Global Impact Report was guided by stakeholder expectations and took into consideration recommended disclosures from the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB) standards for the semiconductor industry and the Task Force on Climate-Related Financial Disclosures (TCFD).