LITE-ON Technology’s GHG Emission Reduction Targets Approved by SBTi
LITE-ON Technology (2301-tw) is pleased to announce that its greenhouse gas emission reduction targets have been approved by SBTi (Science-Based Targets initiative), becoming one of the SBTi approved 50 Asian companies. LITE-ON is devoted to showing the world the determination and contribution to help prevent the world temperature from rising 2 °C.
SBTi is an organization co-founded by CDP, United Nations Global Compact, WRI (World Resources Institute) and etc. From 2016 to this April, there have been 554 companies worldwide that submitted the carbon reduction commitment to SBTi, but only 40% of them were qualified to pass the examination, indicating that carbon management is challenging for most of the companies. Considering environmental progress and risk control as one of its operational priority management, LITE-ON cooperated with PwC and applied SBT method to set the target of 39.3% carbon reduction per unit revenue by 2025 based on 2014 levels. Afterwards, the target was reviewed by SBTi and met the criteria.
LITE-ON applied two major programs, “Mitigating operation environmental impact” and “Implementing circular economics” as its Green Operation Strategy to accommodate the risk of global climate change and innovative technology. In terms of mitigating operation environmental impact, LITE-ON has kept refining manufacturing processes and factory operations by energy saving project to enhance energy efficiency. To effectively control energy consumption, LITE-ON introduced energy management system, the automated energy saving model in factories and offices, as well as innovative clean energy technology. Additionally, the spirit of low carbon is embedded in product R&D process to optimize the resource utilization through the value chain. To increase the use of renewable energy, besides installing rooftop solar panels and procuring renewable energy certificate (REC), LITE-ON cooperates with local businesses in Power Purchase Agreement (PPA) to support the development of renewable energy in Taiwan and implements charity power plants to achieve production decarbonization.
In response to sustainable development, LITE-ON also upheld the entrepreneur spirit to practice the circular economic. In the charity project “STYRO CYCLE” of assisting Penghu Environmental Protection Bureau cleaning up the discarded Styrofoam on the beach, LITE-ON cooperated with a social enterprise, and applied the specific dissolution method to reduce the volume of Styrofoam. The waste was reproduced to plastic pellets HIPS (high impact polystyrene) and was successfully made into products like keyboards and mice. In the future, LITE-ON plans to obtain environmental-friendly-related certification with the material and promote the concept to customers, expecting to connect the participation of suppliers and build up a comprehensive sustainable value chain.
Senior Director, Investor and Public Relations