Climate Change Data

Credo Technology Group Holding Ltd

Climate Impact & Sustainability Data (2023, 2024)

Reporting Period: 2023

Environmental Metrics

ESG Focus Areas

  • Employee development, retention, and wellbeing
  • Supply chain management
  • Employee health and safety
  • Business ethics
  • Data privacy and security

Environmental Achievements

  • Consistent delivery of low-power SerDes solutions, affecting energy efficiency of data centers and network infrastructure.
  • Working with employees and customers to find solutions for effective recycling to ensure sustainable production and consumption.

Social Achievements

  • Commitment to supporting quality education opportunities through intern programs and partnership with Year Up.
  • High employee retention rates.

Governance Achievements

  • Evolved ESG oversight structure with Nominating & Corporate Governance Committee and cross-functional ESG Working Group.
  • Implementation of mandatory online harassment training for US employees.

Climate Goals & Targets

Long-term Goals:
  • Reduce GHG emissions (target not specified).
Medium-term Goals:
  • Implement a formal environmental management system.
  • Develop and implement a supplier code of conduct.
Short-term Goals:
  • Maintain a majority independent Board.
  • Strengthen DEI efforts with a formal program and diversity policy.

Environmental Challenges

  • Supply chain disruptions
  • GHG emissions footprint
Mitigation Strategies
  • Diversifying supplier base and co-investing with key vendors to overcome substrate shortages.
  • Engaging with enterprise carbon accounting experts to measure and disclose Scope 1 and 2 GHG emissions data and set a roadmap of appropriate actions.

Supply Chain Management

Supplier Audits: Annual reviews of supply chain resiliency for AEC business; co-investment with key vendor for IC chip business.

Responsible Procurement
  • Human Rights Policy; Conflict Minerals Policy; working towards a supplier code of conduct.

Climate-Related Risks & Opportunities

UN Sustainable Development Goals

  • SDG 4 (Quality Education)
  • SDG 5 (Gender Equality)
  • SDG 12 (Responsible Consumption and Production)
  • SDG 13 (Climate Action)

The report details how Credo's initiatives contribute to these goals.

Sustainable Products & Innovation

  • Low-power SerDes solutions; Active Electrical Cables (AECs)

Reporting Period: 2024

Environmental Metrics

Total Carbon Emissions:1328 tCO2e (Scope 1 & 2)
Scope 1 Emissions:93 tCO2e
Scope 2 Emissions:1235 tCO2e
Renewable Energy Share:100% (San Jose facility)
Total Energy Consumption:12,443 GJ

ESG Focus Areas

  • Energy Efficiency
  • Education and Talent Development
  • Waste Reduction and Recycling
  • Employee Well-being
  • Supply Chain Management
  • Data Security
  • Diversity, Equity & Inclusion
  • Climate Change
  • Greenhouse Gas Emissions

Environmental Achievements

  • Maintained industry leadership in energy-efficient connectivity solutions for the datacenter market, enabling partners to lower energy consumption.
  • San Jose facilities transitioned to 100% renewable energy.
  • Improved recycling efforts and implemented e-waste initiatives at facilities.
  • Completed inaugural greenhouse gas (GHG) inventory.

Social Achievements

  • Continued investing in intern programs, partnering with community organizations to increase diversity in the tech industry.
  • Expanded employee well-being program to include a wellness center and gym, and broadened mental health initiatives.
  • Launched employee engagement survey resulting in a 79% overall satisfaction rate and a 7% turnover rate.
  • Continued collaboration with Year Up United internship program.

Governance Achievements

  • Added Clyde Hosein to the Board of Directors.
  • 100% of employees completed required compliance and Code of Conduct training.
  • Implemented a vendor onboarding policy and Supplier Code of Conduct.

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Further reduce Scope 2 emissions.
Short-term Goals:
  • Expand renewable energy initiatives to other global offices.
  • Launch DEI training programs in 2025.

Environmental Challenges

  • Scope 3 emissions not yet fully quantified.
  • Long-term substrate shortages impacting the IC chip segment.
  • Potential supply chain disruptions.
Mitigation Strategies
  • Expanding GHG inventory to include Scope 3 emissions in the future.
  • Co-investing with key vendors to address substrate shortages.
  • Annual reviews of supply chain resilience with manufacturing partners.
  • Developed a Supplier Code of Conduct.

Supply Chain Management

Supplier Audits: Annual reviews of supply chain resilience for AEC products; RMAP assessments for conflict minerals.

Responsible Procurement
  • Salient Human Rights Policy
  • Supplier Code of Conduct
  • Conflict Minerals Policy

Climate-Related Risks & Opportunities

Opportunities
  • Development of energy-efficient products

Reporting Standards

Frameworks Used: Greenhouse Gas Protocol

Certifications: ISO 9001, ISO 12001, ISO 14001, ISO 45001

UN Sustainable Development Goals

  • Not disclosed

Sustainable Products & Innovation

  • Energy-efficient connectivity solutions (AECs and SerDes-based silicon products)

Awards & Recognition

  • 2024 ‘Top Places to Work’ award