Reimagining what’s possible has been core to our successes throughout our 35-year history, but now, more than ever, we’ve seen the fundamental role wireless technology plays in helping us stay connected. During the ongoing COVID-19 health crisis, with people all over the world working beyond the office, learning beyond the classroom, and experiencing healthcare beyond the traditional doctor’s office, the potential for our technologies, especially 5G, to meet society’s needs has never been more evident.
In addition to a global health crisis, the events of 2020 brought other societal challenges to the forefront; from racial justice, to real-time impacts of the climate crisis, there is much more work to be done. For our part, we will continue to advocate for positive change on these issues in line with our core values of operating with unquestioned integrity and fostering a collaborative community.
To that end, we have established 2025 quantitative targets to increase representation within our Company of groups that are historically underrepresented in the technology sector, made donations in support of civil rights efforts to organizations such as the Lawyer’s Committee for Civil Rights Under Law, NAACP Legal Defense and Educational Fund, Inc., Center on Policy Initiatives, and, through our Global Diversity and Inclusion (GID) team and our Employee Networks, organized training and learning sessions for employees.
To better understand and address the climate-related risks and opportunities across our Company, we conducted our first climate scenario analysis and are pleased to include Task Force on Climate-related Financial Disclosures (TCFD) and Sustainability Accounting Standards Board (SASB) indices in this report.
Despite the unforeseen challenges of 2020, we have had many successes over the last year. We welcomed the unanimous reversal of the district court’s judgment in the FTC case, a decision that validates our licensing business model and underscores the tremendous contributions that we have made to the industry. We now have license agreements with every major handset maker, including more than 110 5G agreements, a testament to the years of relentless research and development we have invested to consistently push the boundaries of what’s possible. For the second consecutive year, we have been named on Fortune’s Change the World List, in recognition of the revolutionary societal impacts of 5G, and by Newsweek as one of America’s Most Responsible Companies.
And, as we continue to work toward our 2030 Vision, I am proud to report we successfully met or exceeded our 2020 corporate responsibility goals and are launching the next set of more ambitious 2025 goals, the details of which can be found throughout this Report. Finally, across our corporate responsibility priorities, the environmental, social and governance (ESG) areas where we believe we can be most impactful, there are a few accomplishments I would like to specifically mention:
Purposeful Innovation: Staying connected is now more important ever, and 5G strengthens those connections. We are focused on helping transform telemedicine, supporting remote education, addressing environmental sustainability and more efficiently powering mobile devices. This year, we launched the Qualcomm® Small Business Accelerator Program designed to help small businesses participate in the global transition to a mobile-first digital work environment to help them thrive in today’s business climate and be set-up for resiliency and success in the longterm. The comprehensive program was created to provide small businesses with products from ecosystem partners powered by Qualcomm Technologies solutions, collaboration tools, and technical and integration support, so that the selected businesses can continue to maintain operations throughout the current global pandemic and beyond.
STEM Education: Despite the shift to a virtual learning environment, we increased student participation in our Qualcomm® Thinkabit™ weeklong summer camps and in collaboration with our national network of sites, have now inspired more than 78,500 students to explore careers in engineering. In support of our FIRST Strategic Partnership and as a Lead Sponsor of FIRST STEM Equity grants, we helped provide critical access to FIRST programs for over 29,000 students, the vast majority of whom were economically disadvantaged.
Responsible Business: In our updated Qualcomm Human Rights Statement, we reaffirmed our commitment to respecting all internationally recognized human rights and avoiding complicity in any human rights abuse. The Statement reiterates our belief that human rights are fundamental rights, freedoms, and standards of treatment to which all workers are entitled, which is especially pertinent during the global public health crisis
Our People: In line with our commitment to promoting equity across our Company and industry, over the past two years, we increased female engineering representation by 17 percent worldwide, and in the United States, we have increased representation of engineers in racial and ethnic groups historically underrepresented in the technology sector by 12 percent.
During what have been difficult circumstances, I am incredibly proud and grateful for the grit and dedication of our employees, who have demonstrated the optimism and perseverance that have always defined our Company culture. As we look ahead, we are excited to continue inventing breakthrough technologies that can transform industries, help build a more resilient economy, and catalyze social change for billions of people across the globe.
To learn more about Qualcomm’s 2025 goals and ESG performance in 2020, access the full report here.
Tweet me: .@Qualcomm successfully met or exceeded its 2020 #CorporateResponsibility goals and is launching its next set of more ambitious 2025 goals. Hear more from CEO @stevemollenkopf in Qualcomm's new 2020 Corporate Responsibility Report: https://bit.ly/3czydDn
KEYWORDS: NASDAQ:QCOM, Qualcomm, Steve Mollenkopf