Credo Technology Group Holding Ltd
Credo Technology Group Holding Ltd., commonly referred to as Credo, is a leading innovator in the semiconductor industry, headquartered in the Cayman Islands (KY). Founded in 2018, the company has rapidly established itself as a key player in high-speed connectivity solutions, primarily serving data centres and enterprise markets across North America and Asia. Credo's core offerings include advanced optical and electrical interconnect products, which are distinguished by their ability to enhance data transmission efficiency and reduce power consumption. With a commitment to cutting-edge technology, Credo has achieved significant milestones, including strategic partnerships and product launches that have solidified its market position. As a result, Credo continues to drive advancements in the semiconductor sector, catering to the growing demand for high-performance networking solutions.
DitchCarbon Score
How does Credo Technology Group Holding Ltd's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Communication Equipment Manufacturing industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Credo Technology Group Holding Ltd's score of 22 is lower than 73% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Credo Technology Group Holding Ltd's reported carbon emissions
In 2023, Credo Technology Group Holding Ltd, headquartered in Kentucky, reported significant carbon emissions, totalling approximately 1,329,000,000 kg CO2e. This figure includes about 93,606,000 kg CO2e from Scope 1 emissions, primarily from stationary fuel usage across its offices, and approximately 1,235,031,800 kg CO2e from Scope 2 emissions, which are largely attributed to indirect emissions from purchased electricity. Credo has set ambitious climate commitments, aiming for a 50% reduction in power consumption by 2025 compared to competing Direct Air Capture (DAC) solutions. This initiative not only enhances energy efficiency but also aligns with the city of San Jose’s carbon neutrality goal by 2030. The company is also targeting a 50% reduction in its Scope 1 emissions, which are expected to contribute approximately 93 metric tons of CO2 equivalent (tCO2e) in 2023. Overall, Credo's climate strategy focuses on reducing its greenhouse gas footprint through innovative technologies and renewable energy solutions, demonstrating a commitment to sustainability and environmental responsibility.
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| 2023 | |
|---|---|
| Scope 1 | 93,360,600 |
| Scope 2 | 1,235,031,800 |
| Scope 3 | - |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Credo Technology Group Holding Ltd is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
