Azenta Publishes its 2023 Environmental, Social, & Governance (ESG) Report
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Insights
From a sustainability perspective, the commitment to reducing greenhouse gas (GHG) emissions in alignment with the Science-Based Targets Initiative (SBTi) is a significant step for Azenta, Inc. This demonstrates a proactive approach to climate change mitigation which is increasingly becoming a factor in investment decisions. As investors are more inclined to support companies with strong sustainability practices, this move could potentially enhance Azenta's reputation and appeal in the market. The introduction of the BioArc™ Ultra also indicates innovation towards energy-efficient technologies, which could lead to cost savings in the long term due to reduced energy consumption and potential tax incentives for environmentally friendly practices.
Investors are likely to scrutinize the ESG report for its potential financial implications. The establishment of short-term emissions reduction targets and a commitment to net-zero GHG emissions by 2050 may suggest forward-thinking risk management, as regulatory pressures and carbon pricing regimes become more prevalent. However, investors will be keen to understand the capital expenditures associated with these initiatives and how they might affect Azenta's financials in the near term. The partnership with EcoVadis® to monitor sustainability practices in the supply chain could enhance operational resilience and mitigate risks associated with supplier conduct, which is an increasingly important aspect for investors.
Azenta's focus on social impact, particularly in the regions where it operates, indicates a commitment to corporate social responsibility (CSR). The emphasis on safety, quality and reliability of products and services is essential for maintaining customer trust and loyalty. By addressing these areas, Azenta could see improved stakeholder relationships and brand image. However, it is important for stakeholders to monitor how these initiatives translate into tangible outcomes and whether they align with the interests of shareholders, customers and the communities in which Azenta operates.
The report offers a comprehensive look at the Company's ESG approach and showcases accomplishments in three main pillars:
- Environmental Protection: We understand the broad impact of our operations and the potential to impact the world. We are committed to evaluating ways to reduce our environmental footprint while continuing to expand our business.
- Social Impact: We are committed to making a positive impact on society, particularly in the regions where we are located and serve our customers.
- Responsible Operations: Our products and services enable our customers to have a significant positive impact on the world, and we are committed to ensuring the safety, quality, and reliability of our products and services.
Over the year, the Company made significant progress on its ESG initiatives, highlights include:
- Committing to reducing our environmental footprint by aligning our GHG emissions reduction targets with the Science-Based Targets Initiative (SBTi).
- Establishing short-term emissions reduction targets, committing to reducing Scope 1 and 2 GHG emissions by
55% by 2033, from a 2022 base year. - Committing to reaching net-zero GHG emissions across the value chain by 2050.
- Launching the BioArc™ Ultra, an a -80°C Sample Storage System, engineered to prioritize energy efficiency and sustainability, featuring unrivaled sample storage density, an eco-conscious refrigeration system, and optimized space-savings usage compared to manual freezer farms.
- Partnering with EcoVadis® to assess and monitor the sustainability practices of our suppliers.
To learn more about Azenta's commitment to ESG efforts, view the report in full at https://investors.azenta.com/esg.
About Azenta Life Sciences
Azenta, Inc. (Nasdaq: AZTA) is a leading provider of life sciences solutions worldwide, enabling impactful breakthroughs and therapies to market faster. Azenta provides a full suite of reliable cold-chain sample management solutions and multiomics services across areas such as drug development, clinical research and advanced cell therapies for the industry's top pharmaceutical, biotech, academic and healthcare institutions globally. Our global team delivers and supports these products and services through our industry-leading brands, including GENEWIZ, FluidX, Ziath, 4titude, Limfinity, Freezer Pro, Barkey and B Medical Systems.
Azenta is headquartered in
"Safe Harbor Statement" under Section 21E of the Securities Exchange Act of 1934
Some statements in this release are forward-looking statements made under Section 21E of the Securities Exchange Act of 1934. These statements are neither promises nor guarantees but involve risks and uncertainties, both known and unknown, that could cause Azenta's financial and business results to differ materially from our expectations. They are based on the facts known to management at the time they are made. Other forward-looking statements include but are not limited to statements about our ability to meet our ESG commitments, including GHG emission targets. Factors that could cause results to differ from our expectations include the following: our ability to reduce our environmental footprint, our ability to ensure the safety, quality and reliability of our products and our ability to monitor and assess our supply chain; and other factors and other risks, including those that we have described in our filings with the Securities and Exchange Commission, including but not limited to our Annual Report on Form 10-K, Current Reports on Form 8-K and our Quarterly Reports on Form 10-Q. As a result, we can provide no assurance that our future results will not be materially different from those projected. Azenta expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in our expectations or any change in events, conditions, or circumstances on which any such statement is based. Azenta undertakes no obligation to update the information contained in this press release.
CONTACTS:
Yvonne Perron
Vice President, Financial Planning & Analysis, and Investor Relations
ir@azenta.com
Sherry Dinsmore
sherry.dinsmore@azenta.com
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SOURCE Azenta
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