Charles River Laboratories Achieves 100% Renewable Electricity Usage Globally

Rhea-AI Summary

Charles River Laboratories (NYSE: CRL) has achieved 100% renewable electricity usage globally ahead of schedule, marking significant progress towards climate goals. The company joined RE100 in 2020 and committed to operating on 100% renewable electricity globally by 2030. Through virtual power purchase agreements in the US and Europe, Charles River now leads in sustainable energy practices.

Company marks significant progress towards climate goals, reaching the milestone considerably ahead of schedule

WILMINGTON, Mass.--(BUSINESS WIRE)-- Charles River Laboratories International, Inc. (NYSE: CRL) today announced it has reached 100 percent renewable electricity across all of its global sites as of the first quarter of 2024, significantly ahead of the original target date. In 2020, Charles River became one of the first 300 members of RE100, a global corporate renewable energy initiative, and committed to operating on 100 percent renewable electricity globally by 2030. Today, Charles River joins a small group of leading companies that have achieved this goal organization-wide in accordance with RE100’s standardized reporting criteria¹.

In efforts to reach its renewable electricity target, Charles River has:

• Executed two critical virtual power purchase agreements (vPPAs) in the United States and Europe. In 2020, the Company initiated a 15-year contract with Deriva Energy for a 102-megawatt solar vPPA located in Texas, which, as of January 2023, provides 100 percent of its North American electric power requirements with clean, renewable energy. Further, in 2023, Charles River’s 12-year, 30-megawatt wind power vPPA went live, which is a partnership with Spain-based Repsol, a multi-energy company, and covers the organization’s entire European electricity load.
• Partnered with leading organizations to drive the adoption of green energy solutions. In 2022, Charles River was recognized by the U.S. Environmental Protection Agency’s Green Power Partnership as a leader in green electricity use. Last year, the company joined the Renewable Thermal Collaborative, a global coalition of companies, institutions, and governments committed to scaling up renewable energy for heating and cooling. Charles River also sponsored Energize, a program powered by Schneider Electric to increase access to renewable energy for pharmaceutical supply chains.
• Invested $13.5 million in sustainability-focused projects through the Charles River Sustainability Capital Fund. From 2020-2023, Charles River has funded over 100 projects globally that reduce its environmental footprint, including energy conservation and GHG reduction efforts.
• Reduced GHG Emissions from its facilities significantly. As of year-end 2023, Charles River had achieved a 37 percent reduction in GHG emissions from its facilities (Scope 1 and 2 emissions). With the increase to 100 percent renewable electricity in 2024, Charles River is targeting a 45 percent reduction by year-end 2024, making progress towards its goal of a 50 percent reduction by 2030.

To learn more about Charles River’s commitment to protecting the planet, visit the Corporate Citizenship webpage.

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1} RE100 Annual Disclosure Report 2023

Approved Quotes

• “At Charles River, we are guided by our purpose of Creating Healthier Lives, which extends beyond science – because healthy lives start with a healthy planet. Today’s announcement marks a milestone in our commitment to supporting sustainable business practices and driving marked change for our clients, partners, communities, and planet.” –James C. Foster, Chairman, President and Chief Executive Officer, Charles River
• “As we celebrate Earth Day this month, now is an exciting time to achieve our goal of operating on 100 percent renewable electricity globally. We’re proud to be a part of the small group of elite organizations to reach this target, driving change by committing to and achieving bold and ambitious environmental sustainability goals.” –Gregg Belardo, Executive Director, Global EHS and Sustainability, Charles River

About Charles River

Charles River provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and leading academic institutions around the globe accelerate their research and drug development efforts. Our dedicated employees are focused on providing clients with exactly what they need to improve and expedite the discovery, early-stage development and safe manufacture of new therapies for the patients who need them. To learn more about our unique portfolio and breadth of services, visit www.criver.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240422679591/en/

Charles River Investor Contact:

Todd Spencer

Corporate Vice President,

Investor Relations

781.222.6455

todd.spencer@crl.com

Charles River Media Contact:

Amy Cianciaruso

Corporate Vice President,

Chief Communications Officer

781.222.6168

amy.cianciaruso@crl.com

Source: Charles River Laboratories International, Inc.

FAQ

What is the ticker symbol for Charles River Laboratories?

The ticker symbol for Charles River Laboratories is CRL.

When did Charles River Laboratories commit to operating on 100% renewable electricity globally?

Charles River Laboratories committed to operating on 100% renewable electricity globally by 2030.

What is RE100?

RE100 is a global corporate renewable energy initiative that Charles River Laboratories is a member of.

How did Charles River Laboratories achieve 100% renewable electricity usage globally ahead of schedule?

Charles River Laboratories executed two critical virtual power purchase agreements (vPPAs) in the United States and Europe to reach its renewable electricity target.

What is the significance of Charles River Laboratories achieving 100% renewable electricity usage globally?

Charles River Laboratories has made significant progress towards its climate goals and joins a small group of leading companies that have achieved this goal organization-wide in accordance with RE100’s standardized reporting criteria.