SINGAPORE, Sept. 18, 2023 /PRNewswire/ -- The Asia Responsible Enterprise Awards (AREA) 2023 is pleased to honor 78 outstanding business leaders and enterprises for championing sustainable and responsible business practices. Presented by leading regional NGO Enterprise Asia, the AREA is the most reputable award recognition program recognizing organizational efforts in creating a culture of compassion, integrity, and in being socially responsible corporate citizens. The AREA serves as a badge of excellence to spur further innovation and best-practice sharing for organizations and the world at large.
Faraday Technology Corp. (Faraday) was among the recipients who were conferred with the Green Leadership and Corporate Sustainability Reporting Award. Faraday is a leading fabless ASIC design and silicon IP provider established in 1993, as the first Asian ASIC vendor.
For its Corporate Sustainability Reporting Award, "Joys and Pro Works in Harmony, Flourish Life in Green and Synergy for Excellence" is Faraday's sustainable business philosophy. It considers Corporate Governance, Winning Glory with Our Partners, Environmental Sustainability, Friendly Workplace, and Social Involvement as its CSR activities' key agenda. With its stakeholders, the company collaborates and mutually pursues sustainable growth for both corporation and society in the long term.
As a globally leading high-tech research and development company, talents are not only the assets of the company but the fundamental basis for its sustainable development. Thus, Faraday's key strategy for CSR is offering a safe, friendly, and healthy working environment where employees are respected and treated with dignity. The company also strives to assist employees in achieving work-life balance and provide competitive salaries and benefits.
Faraday continuously develops low-power design solutions to reduce product energy consumption and contribute to energy conservation and carbon reduction. Furthermore, Faraday continuously reviews and improves various aspects of its business such as technology, quality, delivery, environmental impact, human rights, safety, and health through supplier evaluation. The company is dedicated to building an environmentally friendly and sustainable semiconductor supply chain to provide customer-satisfied products.
To implement its CSR development strategy, Faraday has established indicators for promoting sustainability, and the committee holds regular meetings to review the effectiveness of previous initiatives, discuss future goals and plans, and report to the Board of Directors annually. Through continuous improvement and refinement, the company strives to achieve its sustainability goals.
For its Green Leadership Award, Faraday's "Flourish Life in Green Project" aims to promote a symbiotic relationship between humans and the environment. The company is dedicated to developing low-power chips for green energy products and utilizing energy-saving equipment. It also prioritizes ecological conservation and biodiversity protection through green space maintenance.
In partnership with its clients, the company has developed over 200 low-power IPs and manufactured over 40 million renewable energy chips and 600 million smart grid chips. The company also maintains a 1,000 square meter garden, cultivating over 300 species to promote biodiversity conservation.
The project has two strategies guided by the Faraday CSR committee. Firstly, to leverage Faraday's core technology to develop low-power IP and key chips for green energy products, implement green production, and update energy-saving equipment to reduce carbon emissions.
The second strategy includes Faraday responding to international conservation initiatives by protecting biodiversity and promoting ecological conservation through the maintenance of green spaces and the establishment of the Faraday Garden IG community.
With the establishment of the green supply chain management policy, Faraday is committed to integrating its partners in establishing an environmentally friendly supply chain.
Finally, the company functions on the philosophy of "take from society, give back to society". With this in mind, it focuses on education promotion, ecological sustainability, and support for the underprivileged as its main pillars. Through active initiatives by employees, Faraday is dedicated to the continuous promotion of social welfare activities.
About Enterprise Asia
Enterprise Asia is a non-governmental organization in pursuit of creating an Asia that is rich in entrepreneurship as an engine toward sustainable and progressive economic and social development within a world of economic equality. Its two pillars of existence are investment in people and responsible entrepreneurship. Enterprise Asia works with governments, NGOs and other organizations to promote competitiveness and entrepreneurial development, in uplifting the economic status of people across Asia and in ensuring a legacy of hope, innovation and courage for the future generation. Please visit https://www.enterpriseasia.org/ for more information.
About Asia Responsible Enterprise Awards (AREA)
The Asia Responsible Enterprise Awards program recognizes and honors Asian businesses for championing sustainable and responsible entrepreneurship in the categories of Green Leadership, Investment in People, Health Promotion, Social Empowerment, Corporate Governance, Circular Economy Leadership, Corporate Sustainability Reporting, and Responsible Business Leadership. For more information, visit: https://enterpriseasia.org/area/.
