Axcelis Technologies, Inc. (NASDAQ: ACLS) announced that the Science Based Targets initiative has approved the company's greenhouse gas emissions reduction targets. The Beverly, Massachusetts-based semiconductor equipment supplier committed to achieve net-zero emissions across its value chain by 2050.

The approved targets include reducing absolute scope 1 and 2 emissions by 65.88% by 2030 from a 2022 baseline, and scope 3 emissions from sold products by 51.6% per dollar of value added by 2030. Long-term goals call for reducing scope 1 and 2 emissions by 90% by 2050, and scope 3 emissions by 97% per dollar of value added by 2050.

Scope 1 emissions are direct emissions from company operations, while scope 2 covers indirect emissions from purchased energy. Scope 3 encompasses all other indirect emissions in a company's value chain, including from the use of sold products.

"Axcelis is proud to take a leading role in the industry to drive efforts to mitigate climate change," said President and CEO Dr. Russell Low. "Holding ourselves accountable to drive sustainable growth is at the heart of what we do at Axcelis."

The Science Based Targets initiative is a corporate climate action organization that helps companies set emissions reduction targets aligned with climate science. Axcelis reports progress toward its climate goals in an annual sustainability report.

Axcelis supplies ion implantation solutions for semiconductor manufacturing and has operated for over 45 years. The information comes from a company press release.