17 June 2022
IQE commits to net zero carbon neutrality by 2050
Epiwafer and substrate maker IQE plc of Cardiff, UK has announced 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 1.5°C. 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. The announcement marks a step for IQE’s ESG Committee following its establishment in January, as it continues to build on IQE’s strategy to deliver sustainable growth. The board-level group oversees ESG activities and performance against commitments for the long-term benefit of all stakeholders.
“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,” says CEO Americo Lemos. “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.’’