Fortrea Releases Inaugural Corporate Social Responsibility Report
Fortrea (Nasdaq: FTRE), a leading global contract research organization (CRO), has released its inaugural Corporate Social Responsibility report, 'Fortrea for Better'. The report outlines the company's environmental, social, and governance (ESG) activities across four key areas: responsible environmental practices, people practices, societal practices, and governance practices.
Key highlights include:
- Refurbishment of a UK warehouse into a 100-bed clinic with environmental certification
- Establishment of eight Employee Resource Groups with nearly 4,000 active members
- Joining the UN Global Compact Initiative and commitment to the Science Based Targets Initiative
- CEO Tom Pike's pledge to support DEI through CEO Action for Diversity & Inclusion™
- Inaugural submission to EcoVadis and development of first environmental report for CDP
Fortrea aims to meet expected reporting regulations by 2026 and demonstrates its commitment to sustainability and ethical practices as a newly independent public company.
- Release of inaugural Corporate Social Responsibility report, showcasing commitment to ESG practices
- Refurbishment of UK warehouse into environmentally certified 100-bed clinic with space for 300 employees
- Establishment of eight Employee Resource Groups with nearly 4,000 active members
- Joining UN Global Compact Initiative and commitment to Science Based Targets Initiative
- CEO's pledge to support Diversity, Equity, and Inclusion initiatives
- None.
DURHAM, N.C., Oct. 17, 2024 (GLOBE NEWSWIRE) -- Fortrea (Nasdaq: FTRE), a leading global contract research organization (CRO), today announced the release of the company’s inaugural Corporate Social Responsibility report, “Fortrea for Better.”
Available for download on Fortrea.com, the report describes Fortrea’s environmental, social and governance (ESG) activities, reported across four distinct sections:
- Fortrea for Life: Responsible Environmental Practices
- Fortrea for All: Responsible People Practices
- Fortrea for Good: Responsible Societal Practices
- Fortrea for Integrity: Responsible Governance Practices
“’Fortrea for Better’ reflects our dedication to minimizing our environmental impact, supporting our employees and the communities where we work, and following ethical governance practices in everything we do,” said Sandy Kennedy, chief quality, regulatory affairs and sustainability officer, who also chairs the company’s ESG Steering Committee.
The report details Fortrea’s first-year accomplishments as an independent public company. In one example, an old mail-order warehouse in the UK was refurbished into a 100-bed clinic with space for 300 employees. The site was recognized with an environmental certification based on performance in energy conservation, material usage, water consumption and waste disposal.
Another area of focus is the company’s Employee Resource Groups (ERGs), which are voluntary, employee-led groups of individuals who identify with historically marginalized communities and share common interests or experiences. They are designed to help members feel welcome and comfortable to have open discussions in a safe environment. There are presently eight ERGs at Fortrea, with almost 4,000 active members.
Fortrea’s CSR report also outlines the company’s future ESG roadmap, a multi-year process that includes an established agenda, oversight and reporting. Fortrea has joined the United Nations Global Compact Initiative and committed to the Science Based Targets Initiative. Chairman and CEO Tom Pike has joined more than 2,500 CEOs pledging to support DEI as signatories of the CEO Action for Diversity & Inclusion™. Further, Fortrea recently made its inaugural submission to EcoVadis, a globally trusted provider of business sustainability ratings, and is developing its first environmental report for CDP, a not-for-profit charity that runs a disclosure system for environmental impact. Based on its achievements and commitments to date, Fortrea is well positioned to meet the required reporting regulations expected in 2026.
“I am very proud of the progress we’ve made in a relatively short period of time,” said Tom Pike in his introduction to the report. “It is a testament to the dedication of our employees who have embraced our new culture with enthusiasm.”
About Fortrea
Fortrea (Nasdaq: FTRE) is a leading global provider of clinical development solutions to the life sciences industry. We partner with emerging and large biopharmaceutical, biotechnology, medical device and diagnostic companies to drive healthcare innovation that accelerates life changing therapies to patients. Fortrea provides phase I-IV clinical trial management, clinical pharmacology and consulting services. Fortrea’s solutions leverage three decades of experience spanning more than 20 therapeutic areas, a passion for scientific rigor, exceptional insights and a strong investigator site network. Our talented and diverse team working in about 100 countries is scaled to deliver focused and agile solutions to customers globally. Learn more about how Fortrea is becoming a transformative force from pipeline to patient at Fortrea.com and follow us on LinkedIn and X (formerly Twitter).
Fortrea Contacts:
Hima Inguva (Investors) – 877-495-0816, hima.inguva@fortrea.com
Sue Zaranek (Media) – 919-943-5422, media@fortrea.com
Kate Dillon (Media) – 646-818-9115, kdillon@prosek.com
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