I’m thrilled to announce that we published our second annual Environmental, Social and Governance (ESG) report today. I’m proud to share the progress we have made across the company. ESG intersects with all parts of the business, so it really is a team effort. This past year, everyone stepped up to improve performance in their key areas and launch new initiatives that strengthen Marvell’s business and impact.
The report provides the latest updates toward meeting our goals during fiscal year 2023. For instance, we submitted a Science Based Target for external validation, carried out a climate scenario analysis, conducted a human rights impact assessment (ahead of schedule), and maintained an employee satisfaction score above the industry benchmark.
The report details positive developments in key metrics, for example:
This year’s report also includes some new features, such as FY23 highlights to show our annual ESG progress at a glance, and the role of Marvell product in society to better put our business in context of wider societal and technological challenges. We also graphically lay out our value chain flow chart and a community engagement map that showcases the way we are supporting local communities where we live and work. In addition, for the first time, our GHG emissions data has been assured by a third party, which is an important step to demonstrate accuracy and completeness of our GHG inventory.
The report is a snapshot of the great work that was done in fiscal year 2023. Over the past several years, the ESG program has come a long way but of course there is more work to be done. In the next year, I’m excited to conduct our first Life Cycle Assessment (LCA) to gain more quantitative insights into the environmental impacts of our products. We will also carry out a new impact assessment to ensure we continue to focus on the most important topics for the business.
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