Credo Technology Group Holding Ltd

Credo Technology Group Holding Ltd: Climate Commitments & Emissions Overview

Credo Technology Group Holding Ltd, a Cayman Islands-headquartered company in the Radio, television and communication equipment and apparatus industry, is actively addressing its climate impact.

For 2024, Credo Technology Group Holding Ltd reported Scope 1 emissions of 98,000 kg CO2e and Scope 2 emissions of 1,088,000 kg CO2e. This resulted in combined Scope 1 and 2 emissions of 1,187,000 kg CO2e. In 2023, the company's combined Scope 1 and 2 emissions were 1,488,000 kg CO2e. The company has not yet disclosed its Scope 3 emissions.

Credo Technology Group Holding Ltd has set a near-term absolute reduction target to decrease its Scope 1 emissions by 50% between 2023 and 2030. In 2023, its direct Scope 1 emissions were approximately 93,000 kg CO2e, primarily from stationary fuel usage. The company also aims for a 50% reduction in its Scope 2 emissions between 2023 and 2030, with indirect emissions from purchased electricity totalling approximately 1,235,000 kg CO2e in 2023. Additionally, Credo is pursuing intensity reduction targets for Scope 2 emissions, aiming for a 50% reduction in power consumption compared to competing DAC solutions between 2021 and 2025. Credo is also committed to net-zero goals for Scope 1 and Scope 2 emissions by 2030, aligning with the city of San Jose’s carbon neutrality objective.