11th May 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 1.5°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. 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
United States: Cynthia Hoye
Phone: +1 408-858-2602
E-mail: ch@embedded-pr.com
ABOUT IQE
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.