Foxconn Pledges 100% Renewable Electricity by 2040, Joins RE100
April 22, 2024 | FoxconnEstimated reading time: 1 minute
Hon Hai Technology Group announced its worldwide operations will run fully on green electricity by 2040 and has joined the global initiative RE100, in a milestone on Earth Day 2024 that adds the world’s largest electronics manufacturer and technology solution provider among the most influential businesses committed to 100% renewable electricity.
The pledge, at the company’s 50th anniversary, is an acceleration of Foxconn’s determination to move its operations towards a more environmentally friendly and sustainable direction. Foxconn’s renewable energy ratio now exceeds 40%, two years after it first publicly pledged on Earth Day 2022 to use at least 50% green power by 2030.
Led by the Climate Group and in partnership with CDP, RE100’s mission is to accelerate change towards zero carbon grids at scale. Foxconn has joined multiple international sustainability initiatives, including environmental reporting non-profit CDP and the GHG validation Science Based Target initiative (SBTi), because it is the right thing to do for ensuring a safer, sustainable world.
"In promoting sustainability, Foxconn will continue to seek the most suitable international standards. This decision to respond to RE100 is based on this thinking. More importantly, we hope to set an example with our supply chain and partners so they will prioritize sustainable management as well,” said Foxconn Chairman and CEO Young Liu, who also heads the Group’s Sustainability Committee. “Foxconn will also promote green energy at its global locations to share, collaborate and thrive with all stakeholders. ‘Sustainable management = EPS + ESG’ is our ultimate vision.”
Earlier this month, Foxconn shared its latest CDP scoring for environment stewardship in 2023. It earned an (A-) in climate change and an (A) in supplier engagement rating, demonstrating leadership in both areas. It scored a (B) in water security, indicative of good environment management. All three metrics improved from the previous year.
In 2020, the Group formally responded to the three goals proposed by the Climate Action 100+ Steering Committee. Foxconn pledged to achieve net-zero emissions in the value chain by 2050, and in 2023 its short-term emission reduction pathway was validated by SBTi. Last year, Foxconn released its first Net Zero Vision Report, based on Task Force on Climate-related Financial Disclosures (TCFD) recommendations.
Suggested Items
The ICAPE Group Reports Revenue for Q1 2024
05/16/2024 | ICAPE GroupThe ICAPE Group, a global technology distributor of printed circuit boards (PCB) and custom-made electromechanical parts, announced its revenue for the first quarter of 2024.
Sypris Reports Q1 2024 Results; Revenue Up 10%
05/15/2024 | Sypris Solutions Inc.The Company’s first quarter 2024 consolidated revenue increased 10.1% to $35.6 million compared with the prior-year quarter, representing the 11th quarter of double-digit year-over-year growth during the past 12 quarterly periods.
Peters: Casting Compound Perfectly Protects Electronics from Overheating
05/15/2024 | PetersWith ELPECAST® VU 4545/101, Peters has recently added a casting compound to its product portfolio that is characterised by particularly high thermal conductivity.
Avnet to Exhibit at the 2024 Embedded Vision Summit
05/14/2024 | AvnetAvnet’s exhibit plans for the 2024 Embedded Vision Summit include new development kits supporting AI applications.
Kitron: Completed Share Buyback in Connection with Remuneration to the Board Members
05/14/2024 | KitronKitron ASA has completed share buyback in connection with remuneration to the board members. Reference is made to the stock exchange release by Kitron ASA published on 13. May 2024 regarding initiation of a share buyback program.