RATING
Outlook
Positive
SECTOR
Technology
Chief Sustainability Officer
T: N/A
E-mail: N/A
Stock Exchange and Ticker
Nasdaq: QCOM
Website
Contact
T: 858 587 1121
E.mail: N/A
Listing
- 3BL Media 100 Best Corporate Citizens
- Newsweek, America’s Most Responsible Companies
- Fast Company, Most Innovative Companies
- Forbes, America’s Best Employers for Diversity
- Forbes, America’s Best-In-State Employers
- Glassdoor, Best Places to Work
- Investor’s Business Daily, Best ESG Companies
- Women Engineer Magazine, Top 50 Employers
Awards
- Human Rights Campaign Corporate Equality Index
- Dow Jones Sustainability Index (DJSI), North America
- Sustainalytics – Low Risk (16.6)
- CES, Innovation Awards
Revenue
Market Capitalisation
Employees
Content source
Qualcomm Bank Sustainability Report
Evaluation of Qualcomm
Through the products Qualcomm is offering is encouraging a more sustainable future. From 5G networks and drones, to intelligent transportation systems or smart agriculture programs, these are together contributing to smart cities, smart transportation, smart agriculture and so on. However, these also require high energy and water consumption, which Qualcomm did not do a good job including in the report. On the other side they have ambitious goals to achieve net-zero GHG emissions from global operations by 2040 and positive progress can be identified in the report.
In terms of workforce and communities involvement, Qualcomm is failing on recording progress on women and minorities in management positions, however the company is involved with sponsoring education programs for the next generation of engineers through programs like ThinkaBit Lab, or through collaborations like First and Million Girls Moonshot.
Regarding the supply chain, according to the ESG Performance Summary, 100 of Qualcomm’s suppliers have completed completed a Responsible Business Alliance (RBA) Validated Assessment Program (VAP) audit in the last two years, 100% have provided data on greenhouse gas (GHG) emissions and on water use, and 100% have 14001 ISO Certification (environmental and management system).
And lastly, energy, air quality and GHG emissions data have been third-party verified. However, the report as a whole has not been externally assured.
Overall the company is rated a B, based on the lack of environmental goals (only emissions from Scope 1 and 2) and failing to measure progress on a diverse workforce. In terms of products and services they offer, managing supply chains and community involvement, Qualcomm is highly rated and receives a positive outlook.
Sustainability Scorecard
Qualcomm Bank Company Activity
Qualcomm Inc. is in the business of development and licensing of wireless technology, and designs chips for smartphones. It operates through the following segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI). Qualcomm’s IP is licensed by virtually all wireless device makers. The firm is a leader in 5G network technology and the world’s largest chip vendor, supplying nearly every premier handset maker with leading-edge processors. The company’s key patents revolve around CDMA and OFDMA technologies, the backbone of all 3G and 4G networks. The company was incorporated in 1985 and is headquartered in San Diego, California.
Qualcomm Bank Sustainability Activity - As per company declarations
At Qualcomm sustainability is reflected in the products and services the company offers, specifically the wireless technology, in the sustainability goals to achieve net-zero emissions by 2040, to drive a diverse and inclusive workforce and finally in fostering the tech pipeline through its partnership with FIRST. According to President and CEO, Cristiano Amon, “everyone is accountable for corporate responsibility at Qualcomm, from daily operations to our executive leadership and the Board of Directors”.
The company’s approach to corporate sustainability is strengthened by regular third-party materiality assessments that help prioritise corporate responsibility issues, most to the business and stakeholders.
Corporate’s focus areas integrate material priorities such as Purposeful Innovation, Diversity and Inclusion, Ethics and Governance, Sustainable Product Design, Privacy and Security and Public Policy and Regulation.
Certificate & Labels, Standards and Frameworks
- ISO9001 (quality management system)
- ISO45001 (occupational health and safety management system)
- ISO14001 (environmental management system)
- IATF 16949:2016 (automotive quality management system)
- LEED certification (four locations)
Qualcomm Bank in the news: Press Reviews and Social Media
No articles found to contribute to the rating of Qualcomm Sustainability Rating.
Highlights from Qualcomm Bank Sustainability Report
Achievements
- In 2021 signed a 10-year renewable energy agreement with Shell Energy North America (US) to provide approximately 115,000 megawatt-hours of 100% renewable energy annually, reducing Scope 2 GHG emissions
- Successfully completed the test phase of a Plasma Enhanced Chemical Vapor Deposition (PECVD) chamber clean project to replaces high global warming potential gases used in processes, such as sulfur hexafluoride (SF6) and nitrogen trifluoride (NF3), with a Fluorine-based gas mixture that has a global warming potential of zero, thereby greatly reducing direct Scope 1 GHG emissions. Implementation to follow in all chamber clean processes at German production site by the end of 2022
- Achieved The Climate Registry’s (TCR) Climate Registered™ Platinum status for the annual verified GHG emissions reporting
- Launched Qualcomm’s Accelerate Program and Mentoring Matters Program
Weaknesses and Setbacks
- No targets to manage energy consumption
- Very vagues description on the progress to achieve diversity in the workforce
Targets vs Progress Reported
| Target | Results reported |
|---|---|
| By 2025, ensure 100% of the primary semiconductor manufacturing suppliers are audited every 2 years for conformance to the Supplier Code of Conduct | - As of 2021, 78% of primary semiconductor manufacturing suppliers have received audits |
| By 2025, reduce power consumption by 10%, every year in the flagship Snapdragon® Mobile Platform product | - Year over year reduced power consumption by at least 10% in the flagship Snapdragon products, when averaged across all use cases - Improved modem’s power efficiency by 20% with each iteration, despite the power demanded by the underlying radio technology |
| By 2040, reach net-zero global Greenhouse Gas (GHG) emissions for Scopes 1, 2 and 3 | - This goal was set in 2021 and progress to be provided in the 2022 report |
| By 2025, reduce absolute Scope 1 and Scope 2 GHG emissions by 30% from global operations compared to a 2014 base year | - Through 2021 reduction in Scope 1 and 2 GHG emissions by approximately 24% |
| By 2030, reduce absolute Scope 3 GHG emissions by 25% from a 2020 base year | - This goal was set in 2021 and progress to be provided in the 2022 report - In 2021, CO2e, Scope 3 emissions accounted for 4,179,987metric tons |
| By 2025 engage 1.5 million students and teachers across the globe in the strategic STEM initiatives: home-grown Qualcomm® Thinkabit Lab™, collaboration with FIRST®, and STEM community partnerships | - In 2021, reached 561,063 students and 12,817 teachers through social investments in the future workforce - As of 2021, Thinkabit Lab™ program has inspired >85,000 to create >24,000 of their own inventions within a network of 22 Thinkabit Lab collaborators and more than 56 trained educators and instructors in 8 states - Collaboration with FIRST (For Inspiration and Recognition of Science and Technology) to provide 23,580 students in 13 countries with opportunities to innovate and drive solutions to real world problems - Collaborative funding model with Million Girls Moonshot where nearly 400,000 students, including >160,000 girls were enrolled in 20,990 after-school STEM programs to the Moonshot curricula |
| By 2025 Increase Representation of Women in Leadership by 15% | - In 2021, 29% women on the Board of Directors,
In 2021, in the U.S. 17% in women hold - management positions and above, while 18% hold technical positions |
| By 2025 increase underrepresented minorities (URM) leadership representation by 15% By 2025, Increase overall underrepresented minorities representation by 20% | - The progress is being recorded as a continued focus on talent acquisition, training and development to increase hiring rate for women and URM - Specifically for 2021, it is mentioned partnerships with 30 different organisations focus on the promotion and hiring of diverse candidates - Pathways Program,to provide employment opportunities for non-traditional experienced and early career talent |
| By 2025, enrich the lives of 27 million people by continuing to bring technology to underserved communities around the world through Qualcomm® Wireless Reach™ | - Qualcomm® Wireless Reach™ has impacted more than 24 million people, with over 132 projects across 49 countries |
UN SDGs Compliance Analysis
Progress made toward SDG targets
As reported by Qualcomm
- Smart agriculture programs that showcase the power of technology to help end hunger, improve food security and nutrition, promote sustainability and improve livelihoods:
- As of April 2021, the smart system has been deployed at a mango farm and red rice field in two rural counties in China and 5,000 farmers are projected to participate in this program
- Wireless Reach funded FarmPrecise mobile app to improve various aspects of their farming operations, help reduce risks to their crops related to climate change and weather uncertainty and increase their incomes. FarmPrecise is currently deployed in three states in India, Maharashtra, Telangana and Madhya Pradesh, provides advisories for 25 different crops and has been downloaded more than 48,000 times
- ColdTrace X to continuously monitor temperatures inside vaccine refrigerators and cold rooms, particularly valuable for the distribution of COVID-19 vaccines and for routine infant immunizations for diseases like measles, polio and pneumonia
- Following results of 2021 engagement surveys, introduced additional programs, resources and tools that helps employees with achieving balance and wellbeing. Examples include WorkWell, meQuilibrium, Live + Well Wellbeing etc.
- Qualcomm Smart Cities Accelerator Program, members can provide education as a service which allows school districts globally direct access to ecosystem members that work to enable smart classrooms and hybrid learning settings
- Conduct a global needs assessment on training, designed to identify top themes across professional, leadership and technical domains, for example managers expressed an interest in skills around motivating and engaging employees, while engineers highlighted 5G as a topic
- Qualcomm’s Accelerate Program, launched in 2021 for first-time managers and new leaders at Qualcomm to develop skills and knowledge that accelerate their readiness to manage and lead. 1,100 global managers have participated, with 95% of attendees saying that they would recommend the course
- Mentoring Matters program, launched in 2021
- Bank Again Program: This programme enables women to re-start their careers after a break. We reached out to over 3,000 women employees who had left from the bank over the past 5 years, out of which over 300 former colleagues have re-joined the Bank.
- The Career Accelerator Programme: aims at building and augmenting the women talent pipeline for senior roles, by incorporates learning elements like sponsorship, group coaching, virtual learning journey, leadership connect and employee resource groups
- Increase from 9% of women in Senior Management roles in 2021 to 11% in 2022
- Acquisition of three manufacturing facilities in Singapore increased water withdrawals for the Company. Audits have been conducted to map how water is used throughout the facilities
- In non-manufacturing facilities, gains in water conservation by using recycled water for irrigation and cooling plant systems.
- Decreased freshwater dependency at San Diego headquarters by 58% from 2016 to 2021 by expanding the recycled water system
- Key semiconductor manufacturing suppliers are required to report their water use via the Carbon Disclosure Project (CDP) Water Disclosure Survey or the RBA Environmental Reporting Initiative and 100% of these suppliers have clear goals and/or programs for reducing water withdrawal
- 5G networks are more energy efficient per traffic unit than 4G networks, helping reduce carbon emissions from mobile networks by 50% over the next 10 years
- 5G drone using artificial learning and machine learning to perform targeted weed eradication can reduce pesticide and herbicide usage by 50%
- Enabled intelligent transportation system can lead to 15% less traffic and as a result pollution emitted by vehicles
- A 5G enabled intelligent transportation system can lead to 15% less traffic and as a result pollution emitted by vehicles
- Designed specifically for transportation, Qualcomm® Cellular Vehicle-to-Everything (C-V2X) solutions can complement the use of 5G networks and together reshape the transportation sector by decreasing road incidents and improving traffic efficiency for lower GHG emissions
- Designed specifically for logistics, construction and smart city spaces, Qualcomm® Smart Cities Accelerator Program and Qualcomm® IoT Services Suite, enable users to create and deploy smart applications such as smart lighting, signage, parking etc
- Founding partner of Invent Together, a campaign dedicated to understanding diversity gaps in invention and patenting and supporting public policy and private efforts to close them
- In 2021, worldwide, female pay was 100 cents on the dollar in when compared to male employees
- In the U.S., non-white employees pay was 100 cents on the dollar, when compared to our white employees
- 2021 efforts to diversify the talent pipeline include partnerships with several organisations to diversify talent, training for recruiters, the launch of programs for career advancement or re-integration in the workforce etc.
- Found the Qualcomm Women Entrepreneur India Network (QWEIN) 2.0, a mentorship program to support female entrepreneurs in India
- Training for new hires on inclusion and diversity as part of the employee onboarding process
- Collaborations with organisations that champion inclusion and diversity in the workplace
- All semiconductor manufacturing suppliers are required to adopt either the Responsible Business Alliance (RBA) Code of Conduct or a similar code
- All semiconductor manufacturing suppliers to complete a RBA Self-Assessment Questionnaire (SAQ) at least annually. 100% of semiconductor manufacturing suppliers (representing the top 90% of total product-related spend) all have low-risk manufacturing facilities
- Total hazardous waste is 758 metric tons and 35% recycled.
- In 2021, 3,180 targeted employees participated in privacy training sessions that covered relevant internal policies and procedures as well as topics such as lawful basis, transparency, privacy-by-design, data subject rights, information security, contracting requirements, international data transfer restrictions, breach notice obligations and accountability
- In 2021, cybersecurity and privacy assessments performed for hundreds of vendors and key suppliers based on risk and total spend
- Member or sponsor of many organisations that work on advancing responsible privacy and security practices
- Qualcomm’s Cybersecurity Program is based on the National Institute of Standards and Technology (NIST) Cybersecurity Framework
- Supplier cybersecurity assurance program which is integrated with procurement processes, to assess and remediate cyber risks across supplier community
- conduct mandatory cybersecurity training for all employees worldwide to help them better understand cybersecurity threats and Company’s policies (41,329 employees trained in cybersecurity in 2021)
- Qualcomm did not experience any material information security breaches or cybersecurity incidents in 2021
- Employees and temporary workers are required to complete a policy training and certification process every 12-24 months covering the Code of Business Conduct and the Global Foreign Corrupt Practices Act (FCPA) and Anti-Corruption Policy and program.
- 69 instructor-led training sessions on Qualcomm’s Global FCPA and Anti-Corruption Compliance program were offered and attended by 3,603 employees in externally facing business functions
- China Foundation for Poverty Alleviation (CFPA)
- Global Education Coalition
- Association of Privacy Professionals
- Cyber Information Sharing and Analysis Centers
- Future of Privacy Forum
- Centre for Information Policy Leadership
- Information Systems Audit and Control Association
- San Diego Cyber Center of Excellence
Sustainability Certificates, Awards and Listings
