TSMC accelerates renewable energy adoption
TSMC is accelerating its RE100 sustainability timetable, moving its target for 100% renewable energy consumption for all global operations forward to 2040 from 2050.
TSMC has also raised its 2030 target for company-wide renewable energy consumption to 60% from 40%. TSMC committed to net zero emissions by 2050 two years ago on the International Day for the Preservation of the Ozone Layer. And now this new timetable demonstrates TSMC’s determination to commit to its aspirations as the company actively pursues more opportunities and possibilities to meet environmental sustainability goals at a faster pace.
As a responsible corporate citizen, TSMC was the first semiconductor company to join the RE100, and regards renewable energy as an important strategy for achieving net zero emissions. After signing the world’s largest renewable corporate power purchase agreement, TSMC continues to pursue long-term green power procurement contracts in Taiwan with the aim of driving the development of a diverse renewable energy industry, attracting international renewable energy investment in Taiwan, and creating more supply for the domestic market.
TSMC celebrated the eve of Earth Day 2023 by leading the way in ESG innovation with a joint procurement model for domestic renewable energy. The company established a platform to match renewable energy with industrial power consumption and signed a 20-year, 20,000 GWh joint long-term renewable energy contract. This platform helps TSMC suppliers and subsidiaries secure a stable joint procurement price and lowers the barrier to renewable energy adoption, accelerating the green transformation of the domestic semiconductor supply chain.
At the same time, TSMC has also expanded the scope of its public welfare work, installing solar panels at social welfare organizations at no cost through the TSMC Charity Foundation’s “Public Welfare Green Energy Project”. The company then takes the proceeds from selling the power generated by the panels and returns them to these organizations. A total of 16 such installations are expected to begin operations in 2024, and TSMC will continue to build additional green power generation systems for social welfare organizations in the years ahead.
“TSMC has a deep understanding of its key position in the global semiconductor industry and its influence on many economies. We are keenly aware of our urgent responsibilities in sustainability that we shoulder as a corporate citizen,” said Dr. Mark Liu, Chairman of TSMC and Chairman of the Company’s ESG Steering Committee. “Facing the impact of climate change on the environment and society, TSMC has set green manufacturing as the foundation of its sustainability management. As a world-leading semiconductor company, we will continue to strengthen our green management and innovation, collaborate with the industry to build a green supply chain, and accelerate adoption of renewable energy to steadily reach our goal of net zero emissions by 2050.”
By carrying out its ESG Policy and Environmental Policy, TSMC has aligned with its value chain to jointly reach net zero emissions by 2050. TSMC’s sustainability roadmap is to reach zero-growth and gradual reduction in carbon emissions starting 2025, and to return to 2020 emissions levels by 2030. The company will evaluate progress each year and dynamically adjust or set more aggressive carbon reduction pathways to take action towards a sustainable zero-emissions future.