"We have spent the last several months focusing the strategy, and realigning our product portfolio and investments to deliver market-leading and differentiated technologies to our customers," said Hassane El-Khoury, CEO and president of Onsemi.

The industrial and automotive markets now account for two-thirds of global greenhouse gas emissions. Energy and sensor technologies are expected to help achieve a net-zero economy, according to Onsemi. This is because climate change not only poses a risk to the environment, but also offers opportunities for innovative business solutions, the group is certain. In addition, Onsemi is committed to using its research and design expertise and adapting its own operations to achieve net-zero emissions by 2040.