Rambus qualitatively and quantitatively evaluates climate-related risks and opportunities in our direct facilities, supply chain and product design and development. Through existing management system frameworks, Rambus's cross-functional teams continue to monitor external and internal trends, developments and risks that could materially impact our business. By factoring climate-related issues into our planning, training and investment strategies, we promote the continual monitoring and improvement of processes and controls to make sure they achieve their intended outcomes. In the coming years, Rambus aims to strengthen our ESG/CSR programs through several initiatives such as setting emissions targets. Additionally, we will enhance the Enterprise Risk Management (ERM) program to incorporate climate-related issues.
Climate related-risks and opportunities have influenced our strategy related to supply chain. Throughout 2020 and 2021, Rambus actively worked to formalize our sustainable procurement policies and model of excellence for the future at Rambus.
Rambus's top suppliers have all certified to Rambus that they comply with the Rambus Vendor Code or the RBA Code of Conduct and Rambus audits/confirms such compliance annually. Rambus's top manufacturing supplier TSMC, which makes up a majority of Rambus's chip production spend is ISO 14001, ISO 45001 and ISO 50001 certified and in 2020 was the first semiconductor company to join the RE100 renewable energy initiative. Supplier facilities are audited on a variety of environmental and social topics, including but not limited to: water management, greenhouse gas emissions, air emissions, and energy consumption.
In 2022, we implemented a performance measurement system for suppliers that enables a baseline measurement associated with key sustainability goals and performance indicators. We monitor, assess and provide continuous improvement mechanisms and take corrective actions with suppliers on an annual basis. This process also assists in the selection of new suppliers and actively communicates the results of annual assessments to decision makers and internal stakeholders. We will benchmark our work in this area against leaders in our field using RBA's standards for excellence. We are also in the process of setting supplier-specific goals related to capacity building, emissions reductions and renewable energy procurement.
In 2024, Rambu conducted a scenario analysis that included quantative and qualitative impacts.