St Microelectronics has been placed at the top of the best management practices category and among the top 10 companies of the decade as the result of research conducted by Innovest strategic value advisors, in cooperation with The Climate Group and a panel of business leaders and academic experts.
The research, the result of which was published in BusinessWeek, was carried out with the aim of identifying and ranking the companies that have shown the greatest initiative in cutting their greenhouse gas emissions and have exhibited best policies and practices in the effort to eliminate global warning.
The Climate Group and BusinessWeek recognised and acknowledged ST’s best-in-class management practices, initiated by former CEO and honorary chairman Pasquale Pistorio and continued by current CEO Carlo Bozotti.
With its aggressive carbon roadmap as a top executive priority, ST has succeeded in reducing its CO2 emissions by 50 per cent over the past 10 years, targeting carbon neutrality and total accumulated energy savings of $900 million by 2010. Last year alone, the company saved $173 million in energy, water and chemical costs, in relation to its 1994 per unit benchmarks.
The jury also rated ST’s honorary chairman, Mr Pistorio, as one of the most influential individual achievers in the fight against global warming.
The Climate Group CEO Steve Howard said: “These awards are a clear recognition of how important leadership is in tackling climate change.
“STMicroelectronics is a leading example of a company that has taken a dynamic and proactive approach to the issue. Following many years of sustained commitment to environmental issues, the company has seen that solutions to climate change are possible, available, and cost-effective. Our global future will be driven by a low carbon economy, and by embracing now this future that ST is reaping the benefits of.”
ST’s corporate vice-president and director of total quality and corporate responsibility Georges Auguste said: “I am proud to think that ST’s top scores in BusinessWeek’s environmental survey confirm that we are doing the right things the right way. We will continue to develop new ways of making even greater contributions to global conservation efforts and setting ourselves ambitious targets that go beyond local and international environmental legislation.”
ST Malta is proud to have been able to make a sustainable contribution to this success.
The Malta operation has consistently exceeded all environmental targets set by ST and in many areas has shown leadership in environmental programmes.
This leadership was recognised by the European Union when it presented the
company with the award for the Best Managed Company in Europe in the field of sustainable development.