Qualcomm’s 2023 Corporate Responsibility Report: A Message From Our CEO
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Qualcomm's corporate responsibility report highlights several key areas where the company is making substantial progress, which could have a notable impact on its business operations and market perception. The early achievement of their GHG emissions goal and the approval of their corporate GHG reduction targets by the Science Based Targets initiative (SBTi) aligns with a growing market emphasis on environmental sustainability. This proactive approach to reducing environmental impact can enhance Qualcomm's reputation and potentially lead to cost savings through improved energy efficiency.
Moreover, the company's commitment to diversity and the early fulfillment of their goal to engage students and teachers in STEM education programs could strengthen their talent pipeline. This is particularly relevant as the tech industry faces a competitive labor market. A diverse and skilled workforce is crucial for fostering innovation and maintaining a competitive edge, which could translate into long-term business growth and investor confidence.
The focus on advancing intelligent computing and connectivity across various devices positions Qualcomm at the forefront of technological innovation. The company's emphasis on generative artificial intelligence and its application to a wide range of devices, including smartphones and IoT, underlines its role in driving the next wave of digital transformation. On-device intelligence is particularly noteworthy as it addresses growing concerns around data privacy and security and can provide a competitive advantage in the tech market.
Qualcomm's strategic partnerships and investments in digital transformation could lead to the development of new business models and revenue streams. As industries increasingly rely on advanced technologies for operational efficiencies and productivity gains, Qualcomm's role as an enabler of these technologies could result in increased demand for their solutions, potentially impacting stock performance positively.
The early achievement of Qualcomm's 2025 GHG emissions goal and the recognition from various environmental and corporate responsibility rankings reflect a strong commitment to sustainability. These accomplishments are significant as investors and consumers increasingly factor in corporate social responsibility (CSR) and environmental, social and governance (ESG) metrics when making decisions. Qualcomm's actions could lead to enhanced investor appeal, particularly among those with a focus on sustainable investing.
The company's efforts to bring technology to underserved communities through the Qualcomm Wireless Reach program could also create goodwill and strengthen stakeholder relationships. By aligning business strategy with societal needs, Qualcomm is not only contributing to social progress but also potentially expanding its market base to include previously untapped communities.
NORTHAMPTON, MA / ACCESSWIRE / February 15, 2024 / Qualcomm
Originally published in Qualcomm's 2023 Corporate Responsibility Report
Qualcomm engineers human progress. We relentlessly innovate to enable intelligent computing everywhere. Our solutions deliver powerful intelligence and connectivity across devices to make our lives better in new ways and transform industries.
Throughout the year, we remained focused on executing our strategy, prioritizing our future growth and setting the pace of innovation, while navigating the challenging macroeconomic environment. Building on our nearly 40-year history of era-defining technology breakthroughs, our proven technologies span across unrivaled connectivity, high-performance, low-power computing, and leading edge artificial intelligence (AI). Together with our ecosystem partners, we are creating opportunities designed to drive innovation, societal advancement and sustainability.
Empowering Digital Transformation
Qualcomm is playing a fundamental role in enabling industries to digitally transform leveraging our advanced technologies. As a new generation of always connected, smarter and more capable devices scale at the edge, they will help enterprises drive sustainable growth and innovation, unlock operational efficiencies, increase productivity, enable new business models and foster greater opportunities for participation in the digital economy.
The rapid development of generative artificial intelligence promises to accelerate this transformation and enable entirely new experiences and applications. Achieving this will require intelligent computing everywhere - in the cloud and on devices. Qualcomm is the company bringing the capabilities of generative AI directly to smartphones, PCs, virtual and mixed reality devices, vehicles, IoT and more. On-device intelligence will provide greater precision, personalization, reliability, efficiency and privacy.
Acting Responsibly
We strive to make our technology broadly available in an increasingly digital world. In collaboration with our ecosystem partners, we are working to deliver impactful solutions at scale to enrich lives, improve businesses and enable communities to progress. Providing broad access to technology and programs that strengthen economic and social development helps make quality education, entrepreneurial and employment opportunities, health care and other services more attainable for underserved communities globally.
Our success is rooted in the hard work and dedication of our people worldwide. While economic and industry-wide challenges required certain balancing actions, we remain committed to empowering our employees by providing support and resources to cultivate a company culture that celebrates continued growth, creativity and innovation. We continue to strive to be a workplace that reflects the world in which we do business, and we know that our diverse workforce increases our global awareness, creates an authentic sense of belonging and accelerates our ability to innovate.
Having a diverse talent pipeline helps enable future innovation. Last year, we announced that we had met our science, technology, engineering and math (STEM) education goal of engaging 1.5 million students and teachers across the world three years ahead of schedule. This year, I am proud to share that we have met our 2025 Qualcomm® Wireless Reach™ goal - one year early - to bring technology to underserved communities around the world. Since 2006, our Wireless Reach program has directly and indirectly supported over 27 million people.
Operating Sustainably
We believe that environmental sustainability is critical, and we continue our efforts to reduce our environmental footprint. This year, the Science Based Targets initiative (SBTi) approved our corporate GHG reduction targets as consistent with the latest climate science and the most ambitious goal of the Paris Agreement.
We met our 2025 GHG emissions goal two years ahead of schedule, reducing our Scope 1 and 2 by over 35 percent; we did this by switching to renewable energy and decommissioning one of our electricity cogeneration plants at our headquarters in San Diego, as well as pursuing other purchase power agreements in key markets.
We are honored that our hard work and commitment to environmental and social efforts continue to be acknowledged. This year, we have been recognized on lists such as America's Greenest Companies and the World's Best Employers. Once again, we made Newsweek's list of America's Most Responsible Companies, Fortune's Change the World list and led our industry at the top of The Best Corporate Citizen's ranking. Additional awards can be found in the Our Awards and Recognitions section of this report.
We are driving the world toward a more intelligently connected world. We will continue to focus on purposeful innovation to help enrich lives and shape a better future for all.
Cristiano Amon
Chief Executive Officer
View additional multimedia and more ESG storytelling from Qualcomm on 3blmedia.com.
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SOURCE: Qualcomm
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