Understanding the Problem Helps Solving it
For ASMPT, the first important step in tackling climate change is transparent reporting in line with the TCFD framework. We have expanded our disclosure by providing deeper insights into the impact of climate-related risks on our business and strategy, using a range of climate-related scenarios.
Above all, this helps us to identify indirect scope 3 emissions and develop strategic initiatives to avoid these risks in the long term.
Examples of scope 3 Initiatives
- Explore renewable energy and other alternatives to reduce the reliance on local electricity grids.
- Proactively lead initiatives to increase low-carbon energy access and availability where we operate.
- Investing in R&D to ensure ASMPT stays ahead in green advancements and forging partnerships with universities and customers to bolster our R&D projects.
- Diversify rare elements’ supply chain and embed climate-related clauses to shield against future supply and price shocks.
- Operate various R&D and innovation centres striving to identify green and energy-efficient product designs that fulfill customers’ needs.
- Explore low carbon footprint product designs and incorporate emissions considerations into supply chain development and decision making.
Why Digital Transformation is essential
Supporting digital transformation is essential to ASMPT's climate risk management. Here are 4 reasons why:
#1 Climate Mitigation
This enables us to better assess, track and mitigate climate-related risks through advanced data analytics, real-time monitoring and predictive modeling.
#2 Data-Driven Insights
Digital tools, such as AI and cloud computing, enhance the ability to process large datasets, identify trends and simulate climate scenarios, helping us anticipate risks and take proactive measures.
#3 Sustainable Design
The use of AI technology also enables us to create more sustainable product designs with optimised material flow, which will decrease material use and streamline supply chains and manufacturing processes.
#4 Enhanced Transparency
Additionally, digital transformation improves our transparency and reporting, ensuring ASMPT can align with frameworks like TCFD and meet regulatory demands, while optimizing resource efficiency and reducing carbon footprints.