Resolved clauseShareholders request Skyworks issue a report, above and beyond existing disclosures, describing whether and how it could increase the scale, pace, and rigor of its GHG emissions reduction efforts. The report should be updated annually, prepared at reasonable cost, and omit proprietary information.
Whereas clauseClimate change poses macroeconomic risks that can depress returns for long-term diversified investors. Studies project warming to cost the global economy over $38 trillion annually by 2049.1
Climate change exacerbates enterprise risks. One-third of global semiconductor production will be reliant on materials threatened by climate disruption by 2035, rising to 58% by 2050 without action.2 Skyworks’10-K acknowledges that its manufacturers rely on adequate supplies of raw materials at competitive costs.3 Further, manufacturers may suffer “destruction to their facilities, particularly since some of them are located in areas prone to natural disasters... and other impacts of climate change.”4
Skyworks also notes that climate change leads to new government regulations and customer standards concerning environmental matters that “may result in increases in costs of operations for us relative to our competitors.”5
Although Skyworks set targets and outlined strategies to reduce its operational greenhouse gas (GHG) emissions, these actions do not address the majority of emissions from across the company’s value chain. Peers disclosing more complete GHG emissions inventories demonstrate that value chain emissions may account for 89-99% of a semiconductor company's climate footprint.6
NXP, Qualcomm, Murata Manufacturing, and Applied Materials set targets verified by the Science Based Targets initiative (SBTi) value chain emissions.7 NXP, Analog Devices, Intel, Murata Manufacturing and Advanced Micro Devices disclose or intend to disclose climate transition plans with forward-looking strategies to reduce value chain emissions, including engaging suppliers, increasing product efficiency, and joining industry-wide initiatives.8 Continuing to lag peers may lead Skyworks to fall short of the climate mitigation policies of major customers. Apple accounted for 67% of Skyworks' net revenue in 2025 and aspires to be carbon neutral across its supply chain by 2030.9
Without proactively addressing the largest sources of GHG emissions, Skyworks risks exacerbating its exposure to the transition, competitive, and regulatory risks associated with the shift to a low carbon economy. Additional actions would clarify whether and how Skyworks is addressing enterprise risks and protecting the company’s shareholders from related macroeconomic costs.
1 https://epic.uchicago.edu/news/climate-change-may-cost-38-trillion-a-year-by-2049-study-says/
2 https://www.pwc.com/gx/en/news-room/press-releases/2025/climate-risks-to-semiconductor-supply.html
3 https://investors.skyworksinc.com/static-files/faf80c29-a694-4f82-b863-e9110374c219, 17
4 https://investors.skyworksinc.com/static-files/faf80c29-a694-4f82-b863-e9110374c219, 16
5 https://investors.skyworksinc.com/static-files/faf80c29-a694-4f82-b863-e9110374c219, 22
6 https://www.nxp.com/company/about-nxp/sustainability/environment-health-and-safety/emissions:EMISSIONS; https://www.analog.com/media/en/company-csr/2024-esg-report.pdf, 39; https://www.appliedmaterials.com/content/dam/site/company/csr/doc/2024_impact_report.pdf.coredownload.inline.pdf, 61
7 https://sciencebasedtargets.org/target-dashboard
8 https://www.nxp.com/docs/en/supporting-information/Corporate-Sustainability-Report-2024.pdf; https://www.analog.com/media/en/company-csr/2024-esg-report.pdf; https://www.intel.com/content/dam/www/central-libraries/us/en/documents/2023-11/climate-transition-action-plan-2023.pdf; https://www.amd.com/content/dam/amd/en/documents/corporate/cr/climate-transition-plan.pdf; https://corporate.murata.com/-/media/corporate/ir/library/murata-value-report/2025_e/murata-value-report-2025-all-for-viewing-e.ashx?la=en-us&cvid=20251104090627000000
9 https://www.apple.com/environment/pdf/Apple_Environmental_Progress_Report_2025.pdf
Supporting statementIn determining relevant content for the report, proponents recommend, at the board and management's discretion: Adopting GHG emission reduction targets for the company's value chain emissions Developing a transition plan demonstrating how the Company plans to reduce value chain emissions, while considering criteria developed by credible third parties such as the SBTi, Transition Plan Taskforce, and CDP.