GlobalFoundries is one of the world's largest semiconductor manufacturers. Founded in 2009, the company fabricates semiconductors for over 200 global customers, with manufacturing plants in the United States, Germany and Singapore. The company went public in October 2021, with the largest semiconductor initial public offering (IPO) ever on the Nasdaq Stock Exchange.
GlobalFoundries supports open innovation on topics like 6G through its University Partnership Program. It also discloses its environmental sustainability targets and metrics and develops innovative solutions to reduce its environmental impact. GlobalFoundries shows leading practice by disclosing its R&D locations and the percentage of women in tech roles in the company.
GlobalFoundries has an annual summer STEM camp for middle school girls. Still, it can provide deeper support for digital inclusivity for women and girls. There is an opportunity for the company to be more forthcoming about its economic value distribution among its stakeholders. The company can also report its disaggregated tax and employment data per country.
The company can contribute to the tech innovation ecosystem by supporting start-ups and facilitating innovation through incubators and accelerators. It can also enhance its sustainability reporting by aligning with the Sustainable Development Goal (SDG) framework to measure goals and progress.
Core social indicators
The core social indicators assess societal expectations of business conduct that companies should meet if they aspire to be part of a system transformation that leaves no one behind.
GlobalFoundries commits to respect human rights and has a grievance mechanism accessible to both workers and external stakeholders to raise human rights concerns and complaints. However, the company does not publicly commit to respect all the labour fundamentals outlined in the ILO core labour rights, including freedom of association and collective bargaining. The company assesses its own conformance and that of its suppliers with the Responsible Business Alliance Code of Conduct. However, it does not disclose a process to identify, assess, and take action on the salient human rights risks associated with its own operations and with its business relationships. Moreover, the company does not provide evidence of engaging with stakeholders whose human rights could be impacted by its operations.
GlobalFoundries publicly commits to respecting the health and safety of workers. It also places health and safety expectations on its business relationships and monitors their performance. The company discloses that overtime work should be consensual and paid at a premium. However, it has no public commitment stating that it does not require workers to work more than regular and overtime hours. Furthermore, the company does not disclose its policies towards paying its workers a living wage. In relation to workforce diversity, GlobalFoundries provides a breakdown of employees in different employee categories by age and gender.
GlobalFoundries has a policy prohibiting bribery and corruption, and it includes anti-bribery and anti-corruption clauses in its contracts with business relationships. The company takes steps to identify and address bribery and corruption and has a grievance mechanism for stakeholders to raise concerns and complaints. However, the company does not disclose any information in relation to tax, such as a global tax strategy or income tax payments in its individual tax jurisdictions. Furthermore, GlobalFoundries does not disclose its approach to lobbying and political engagement. Specifically, the company has no public statement that indicates it does not make political contributions, and it does not disclose its lobbying expenditures.