Credo Technology Group Holding Ltd Sustainability Profile
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 76% 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 reported total emissions of approximately 1,328,000,000 kg CO2e. This figure includes 93,360,600 kg CO2e from Scope 1 emissions, primarily attributed to stationary fuel usage across its offices, and 1,235,031,800 kg CO2e from Scope 2 emissions, which are mainly due 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. Additionally, the company is targeting a 50% reduction in its Scope 1 emissions, contributing to the city of San Jose’s carbon neutrality goal by 2030. These initiatives reflect Credo's commitment to sustainability and reducing its carbon footprint, aligning with industry standards for climate action. As of now, there are no reported Scope 3 emissions, indicating a focused approach on direct and indirect operational emissions.
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| 2023 | |
|---|---|
| Scope 1 | 93,360,600 |
| Scope 2 | 1,235,031,800 |
| Scope 3 | - |
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Credo Technology Group Holding Ltd's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Credo Technology Group Holding Ltd has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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