Corporate-Wide Sustainability Goals for Wolfspeed

Abstract

As sustainability is gaining traction, stakeholders and investors are increasingly asking businesses to report on their environmental social governance (ESG) performance. Authentic sustainability performance grows out of carefully developed and strategic sustainability goals. Equipped with goals, companies can develop detailed implementation strategies to make strides towards achieving the ESG performance stakeholders demand. The goal of this project was to develop corporate-wide sustainability goals for Wolfspeed, and, by so doing, create an example of how corporations who aspire to improve ESG performance can progress. Wolfspeed is a semiconductor company that manufactures RF and power products that accelerate the transition to electric vehicles, 5G, and renewable energy. To create a list of recommended sustainability goals, the team conducted a competitor analysis and formal stakeholder interviews. Eighteen sustainability goals were drafted to align with the company’s four sustainability pillars. Wolfspeed’s ESG performance will be supported and monitored by a sustainability committee, guided by a charter the team also created.