Better Health for All

Ichor Holdings manufactures fluid delivery subsystems and process equipment for semiconductor manufacturing.

The company's core products and services do not have a direct positive or negative health impact on end-users, nor do they generate revenue from products with direct health impacts. The company's operations do not involve health-related products or services that require accessibility considerations, risk transparency, or health equity programs. Similarly, Ichor's business model does not intersect with healthcare workforce development, preventative health, health data management, global health crisis response, or mental health outcomes. The company is not a pharmaceutical or food company, nor does it conduct clinical trials or produce products with addiction potential. While Ichor mentions efforts to reduce waste, use carbon-neutral shipments, and reduce emissions, these are environmental impacts and are explicitly excluded from the 'Better Health for All' value, which focuses on direct health externalities like pollution causing community health crises, addiction, or mental health impact.

Fair Money & Economic Opportunity

Ichor Holdings, Ltd. is a manufacturer of equipment for semiconductor manufacturing, not a financial institution.

The company's core business does not involve lending, insuring, moving, or storing money for consumers, nor does it offer financial products or services. Therefore, all KPIs related to financial services, consumer lending, fees, customer data, and financial literacy programs are not applicable. While the company offers employee benefits like a 401(k) match, an Employee Stock Purchase Plan, and tuition reimbursement, these relate to employee wealth building, not customer wealth building as defined by the rubric.

Honest & Fair Business

Ichor has a Code of Business Ethics and Conduct that includes a Fraud and Ethics Hotline and prohibits bribery, demonstrating a commitment to ethical practices

. The company also has a clawback policy related to financial restatements . Sustainalytics rated Ichor as "Low Risk" with an ESG risk rating of 17.1, ranking it in the top 40% of its industry . However, a securities fraud investigation was initiated due to an earnings miss in Q1 2025 , . While the company has ethics policies and a low ESG risk rating, the ongoing investigation tempers a more positive assessment. The existence of ethics policies and a low ESG risk rating from Sustainalytics offset the severity of the investigation somewhat. Given the mixed evidence, a conservative score of -10 is appropriate.

Kind to Animals

Ichor Holdings operates in the semiconductor equipment manufacturing industry.

The company's business model, which involves designing and manufacturing fluid delivery subsystems and process equipment, does not inherently involve animal-derived products, animal testing, animal agriculture, or direct impact on wildlife habitats. Therefore, all KPIs related to cruelty-free certification, alternative testing, humane operations, wildlife conservation, ethical input substitution, animal testing policy and volume, animal agriculture ethics, animal-free R&D collaboration, and public policy engagement are not applicable to its operations based on the provided evidence.

No War, No Weapons

The Board of Directors' Nominating and Corporate Governance Committee oversees the ESG program, including ESG risks, strategy, goals, and progress.

The company has a "Global Human Rights and Principles" policy and a Code of Ethics and Business Conduct. Employees and suppliers receive annual mandatory training on the Code of Business Ethics and Conduct. The company has a zero-tolerance policy for bribery and unethical incentives. The company has a Conflict Minerals Policy and a conflict minerals compliance program that aligns with the Dodd-Frank Act, follows industry best practices set by the Responsible Minerals Initiative (RMI) and its Responsible Minerals Assurance Process (RMAP), and is in accordance with the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas. The company has established RBA trading relationships covering 50% of its total spend in 2024.

Respect for Cultures & Communities

Ichor Holdings has no reported cultural appropriation incidents and no specific cultural impact assessment protocol, which aligns with its business model.

The company has established a grievance mechanism for reporting concerns related to conflict minerals and provides a toll-free ethics hotline for employees and business partners, covering 60-75% of operational sites. However, only 20-40% of employees complete cultural sensitivity training, despite all employees completing Inclusion and Engagement training and annual mandatory training on the Code of Business Ethics and Conduct. The company's partnerships are primarily with industry associations, government programs, and universities, rather than indigenous or local community groups.

Zero Waste & Sustainable Products

Ichor Holdings reported a waste recycling rate of over 50% in 2021.

The company designs equipment for repair, upgrade, and remanufacture, and promotes reuse to extend product lifecycles. They have implemented several waste reduction initiatives, including a parts harvesting program, engineering blending and delivery systems to minimize spills and off-spec waste, and partnering with Industrial Technical Assessment Centers (ITACs) for waste reduction strategies and assessments at U.S. sites. Ichor also tracks the amounts and types of waste generated by each facility. The company states it operates in substantial compliance with environmental regulations and has not reported any waste disposal violations in the past three years. Local hazardous-substance rules and facility permits require current audits across jurisdictions. Ichor pursues value engineering to cut material intensity, though no specific efficiency improvement over industry average is provided. The company has quantitative waste reduction targets for some waste streams, aiming to drive impactful energy reduction efforts and meet OEM Scope 1-3 emissions targets. Ichor encourages suppliers to adopt the RBA Code of Conduct and requires them to comply with responsible sourcing principles, including for conflict minerals.