Avantor® Releases 2024 Science for Goodness Sustainability Report

Rhea-AI Summary

Avantor (NYSE: AVTR) released its 2024 Sustainability Report, detailing significant progress in 2023 across four key pillars: People & Culture, Innovation & Environment, Community Engagement, and Governance & Integrity.

Notably, Avantor met its 2025 greenhouse gas emissions reduction target two years early, achieving a 16.7% decrease from 2019 levels. The company has set new targets for 2030. Avantor earned a top score on the Human Rights Campaign's 2023 Corporate Equality Index and awarded over $1.2 million in grants for healthcare and STEM education. Additionally, Avantor launched a Responsible Supplier Program, enrolling 340 suppliers.

Positive

• Avantor met its 2025 emissions reduction target two years early, achieving a 16.7% decrease from 2019 levels.
• New targets set for 2030 include a 50% reduction in Scope 1 and 2 emissions and a 25% reduction in Scope 3 emissions from 2020 baselines.
• Top score on the Human Rights Campaign's 2023 Corporate Equality Index.
• Awarded over $1.2 million in grants for healthcare and STEM education in underserved communities.
• Associates contributed nearly 10,000 volunteer hours in 2023.
• Launched a Responsible Supplier Program, enrolling 340 suppliers and representing 45% of supplier spend.

Negative

• No detailed financial performance data or revenue figures mentioned in the report, which may leave investors seeking more concrete financial metrics.
• Future targets for emissions reductions suggest ongoing operational changes, which may involve significant costs and investments.

Achieves 2025 Greenhouse Gas Emission reduction goals two years ahead of schedule

RADNOR, Pa., June 18, 2024 /PRNewswire/ -- Avantor, Inc. (NYSE: AVTR), a leading global provider of mission-critical products and services to customers in the life sciences and advanced technologies industries, released its 2024 Sustainability Report today. The report highlights the meaningful progress Avantor made in 2023 against four Science for Goodness sustainability pillars: People & Culture, Innovation & Environment, Community Engagement, and Governance & Integrity.

"Our Science for Goodness platform is integral to our business strategy and to the value that we provide to our stakeholders," said Michael Stubblefield, President and CEO of Avantor. "We are pleased with the progress we have made and remain committed to creating a better, healthier world." 

Highlights from Avantor's 2024 Sustainability Report include:

People & Culture: Avantor earned a top score on the Human Rights Campaign's 2023 Corporate Equality Index, a national benchmarking survey and report measuring corporate policies and practices related to LGBTQ+ workplace equality. As part of our efforts to promote inclusion and respect in the workplace, one-quarter of associates participated in Associate-Centric Teams (ACTs) which provide our associates with opportunities to elevate their voices and deepen their understanding of others' experiences and perspectives. 

Innovation & Environment: Avantor achieved its 2025 emissions reduction target two years ahead of schedule, reducing operational greenhouse gas emissions by 16.7 percent from 2019 to 2023. Having achieved this critical milestone, we have now set new targets for 2030 to reduce  Scope 1 and 2 emissions by 50 percent from a 2020 baseline and reduce Scope 3 emissions by 25 percent from a 2020 baseline.

Community Engagement: In 2023, the Avantor Foundation awarded more than $1.2 million in grants to provide healthcare services and STEM education opportunities to underserved communities where Avantor has a presence. We also empowered our associates to support organizations worldwide that bring our mission to life, and in 2023, they contributed nearly 10,000 volunteer hours.

Governance & Integrity: Avantor launched our Responsible Supplier Program in 2023, aiming to improve supplier performance across four priority areas: climate change, human rights, resource circularity and nature conservation. Building on our strong supplier relationships, some of which have been in place for more than 20 years, Avantor enrolled more than 340 suppliers, representing 45 percent of our supplier spend, into the program in 2023.

For more information regarding how Avantor is embedding sustainability across its businesses and progressing programming, and to view a copy of the full 2024 report, please visit our web site.

About Avantor
Avantor^® is a leading life science tools company and global provider of mission-critical products and services to customers in the life sciences and advanced technology industries. From discovery to delivery, we work side-by-side with scientists around the world to enable breakthroughs in medicine, healthcare, and technology at scale. Our portfolio is used in virtually every stage of the most important research, development and production activities at more than 300,000 customer locations in 180 countries. For more information, visit avantorsciences.com and find us on LinkedIn, X (Twitter) and Facebook.

Global Media Contact
Emily Collins
Vice President, External Communications
Avantor
332-239-3910
Emily.Collins@avantorsciences.com 

Investor Relations Contact
Christina Jones
Vice President, Investor Relations
Avantor
805-617-5297
Christina.Jones@avantorsciences.com

View original content:https://www.prnewswire.com/news-releases/avantor-releases-2024-science-for-goodness-sustainability-report-302174663.html

SOURCE Avantor and Financial News

FAQ

What are the key highlights of Avantor's 2024 Sustainability Report?

Key highlights include achieving the 2025 emissions reduction target two years early, earning a top score on the 2023 Corporate Equality Index, awarding over $1.2 million in grants, and launching a Responsible Supplier Program.

How much did Avantor reduce its greenhouse gas emissions by 2023?

Avantor reduced its greenhouse gas emissions by 16.7% from 2019 to 2023.

What new emission reduction targets has Avantor set for 2030?

Avantor aims to reduce Scope 1 and 2 emissions by 50% and Scope 3 emissions by 25% from 2020 baselines by 2030.

How much did Avantor's foundation grant in 2023?

The Avantor Foundation awarded over $1.2 million in grants in 2023.

What is Avantor's Responsible Supplier Program?

The Responsible Supplier Program aims to improve supplier performance in climate change, human rights, resource circularity, and nature conservation, enrolling 340 suppliers in 2023.