PerkinElmer Releases 2021 Corporate Social Responsibility Report

Rhea-AI Summary

PerkinElmer, Inc. (NYSE: PKI) has released its 2021 Corporate Social Responsibility (CSR) Report, detailing its progress in environmental, social, and governance (ESG) initiatives. The report highlights a 8.5% reduction in Scope 1 and 2 emissions, a 15% decrease in hazardous waste, and increased female representation in leadership roles to 31%. Four new commitments were announced, targeting carbon neutrality by 2040, waste reduction by 2025, and enhancing female leadership. The company aims to maintain transparency in its ESG goals under SASB guidelines.

Positive

• 8.5% reduction in Scope 1 and 2 emissions.
• 15% reduction in hazardous waste.
• Increased female leadership representation to 31%.
• Establishment of new ESG commitments focusing on sustainability.

Negative

• None.

Report highlights stewardship and sustainability progress and solidifies new ESG commitments

WALTHAM, Mass.--(BUSINESS WIRE)-- PerkinElmer, Inc. (NYSE: PKI), a global leader innovating for a healthier world, today released its 2021 Corporate Social Responsibility (CSR) Report, which summarizes the latest achievements of its environmental, social and governance (ESG) program. The report titled, “Strengthening Our Commitments for Sustainable Impact,” also outlines four new ESG commitments unveiled by the Company earlier this year and describes its reporting framework established in accordance with guidelines from The Sustainability Accounting Standards Board (SASB).

PerkinElmer’s 2021 CSR Report is organized by the three pillars of its ESG strategy – Governance, Sustainability and Culture, Community & Our People – with accomplishments including:

• 8.5% reduction of Scope 1 and 2 emissions in 2020, or roughly 3,423 tons of carbon dioxide equivalent (CO2e) offset
• 15% reduction in hazardous waste volumes in 2020
• 5.2 tons of laboratory equipment, 122 tons of packaging materials and 19.8 kilograms of batteries collected and recycled from PerkinElmer facilities around the globe
• 45% of leadership positions filled by female employees, resulting in 31% of leadership positions held by female employees
• 77% response rate to its PKI People Experience Survey, with a resulting 7.8 engagement score on a 0-10 point scale measuring employee motivation, commitment and connection to the Company

“I am encouraged by the significant progress made toward reaching our ESG goals over the last year and excited about what this team can accomplish in the years ahead,” said PerkinElmer President & CEO Prahlad Singh. “Driving lasting, positive change is part of PerkinElmer’s mission, and as this report illustrates, we will continue rising to the challenge to do good for people and our planet.”

PerkinElmer’s CSR Report also identifies four new ESG commitments that were first described at the Company’s Investor and Analyst Day in June 2021. These commitments reflect feedback from PerkinElmer employees, investors, suppliers and customers who were surveyed by the Company earlier this year, and specifically target:

• Emissions: Reach net carbon neutrality by 2040 and 30% reduction of Scope 1 and 2 Emissions by 2030 (vs. 2019)
• Waste: Achieve 15% reduction in non-hazardous/non-recyclable waste going to landfills by 2025
• Diversity: Increase female representation in leadership positions to 40% by 2025
• Talent Management: Consistent employee satisfaction above 75% and reduce voluntary turnover to below 10%

As part of PerkinElmer’s commitment to greater transparency, the Company will share updates on progress made in reaching its established ESG goals under SASB guidelines. The Company is also engaging third-party organizations such as the Sustainability Roundtable, Inc., to advise on its ESG approach moving ahead.

In support of PerkinElmer’s ESG commitments, the Company’s 2021 annual Impact Day’s theme of Stewardship and Sustainability encouraged its 15,000 employees to explore new ways to reduce their carbon footprints and ensure a healthier future for the planet. Employees across more than 25 countries joined forces and teamed up with local organizations to complete community service and charitable giving projects.

About PerkinElmer

PerkinElmer enables scientists, researchers, and clinicians to address their most critical challenges across science and healthcare. With a mission focused on innovating for a healthier world, we deliver unique solutions to serve the diagnostics, life sciences, food, and applied markets. We strategically partner with customers to enable earlier and more accurate insights supported by deep market knowledge and technical expertise. Our dedicated team of about 15,000 employees worldwide is passionate about helping customers work to create healthier families, improve the quality of life, and sustain the well-being and longevity of people globally. The Company reported revenue of approximately $3.8 billion in 2020, serves customers in 190 countries, and is a component of the S&P 500 index. Additional information is available at www.perkinelmer.com.

Forward-Looking Statements

This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to estimates and projections of future earnings per share, cash flow and revenue growth and other financial results, developments relating to our customers and end-markets, and plans concerning business development opportunities, acquisitions and divestitures. Words such as "believes," "intends," "anticipates," "plans," "expects," "projects," "forecasts," "will" and similar expressions, and references to guidance, are intended to identify forward-looking statements. Such statements are based on management's current assumptions and expectations and no assurances can be given that our assumptions or expectations will prove to be correct. A number of important risk factors could cause actual results to differ materially from the results described, implied or projected in any forward-looking statements. These factors include, without limitation: (1) markets into which we sell our products declining or not growing as anticipated; (2) the effect of the COVID-19 pandemic on our sales and operations; (3) fluctuations in the global economic and political environments; (4) our failure to introduce new products in a timely manner; (5) our ability to execute acquisitions and license technologies, or to successfully integrate acquired businesses, such as BioLegend, and licensed technologies into our existing business or to make them profitable, or successfully divest businesses; (6) our ability to compete effectively; (7) fluctuation in our quarterly operating results and our ability to adjust our operations to address unexpected changes; (8) significant disruption in third-party package delivery and import/export services or significant increases in prices for those services; (9) disruptions in the supply of raw materials and supplies; (10) our ability to retain key personnel; (11) significant disruption in our information technology systems, or cybercrime; (12) our ability to realize the full value of our intangible assets; (13) our failure to adequately protect our intellectual property; (14) the loss of any of our licenses or licensed rights; (15) the manufacture and sale of products exposing us to product liability claims; (16) our failure to maintain compliance with applicable government regulations; (17) regulatory changes; (18) our failure to comply with healthcare industry regulations; (19) economic, political and other risks associated with foreign operations; (20) the United Kingdom’s withdrawal from the European Union; (21) our ability to obtain future financing; (22) restrictions in our credit agreements; (23) discontinuation or replacement of LIBOR; (24) significant fluctuations in our stock price; (25) reduction or elimination of dividends on our common stock; and (26) other factors which we describe under the caption "Risk Factors" in our most recent quarterly report on Form 10-Q and in our other filings with the Securities and Exchange Commission. We disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211101005228/en/

Media Relations:

Chet Murray

(781) 663-5719

chet.murray@perkinelmer.com

Investor Relations:

Steve Willoughby

(781) 663-5677

steve.willoughby@perkinelmer.com

Source: PerkinElmer, Inc.

FAQ

What are the key achievements in PerkinElmer's 2021 CSR Report?

The report highlights an 8.5% reduction in Scope 1 and 2 emissions, a 15% decrease in hazardous waste, and increased female leadership representation.

What new ESG commitments has PerkinElmer announced for 2021?

PerkinElmer aims for net carbon neutrality by 2040, a 15% reduction in landfill waste by 2025, and increasing female leadership to 40% by 2025.

How does PerkinElmer plan to maintain transparency in its ESG goals?

The company will provide updates on its ESG progress following the Sustainability Accounting Standards Board (SASB) guidelines.

What is PerkinElmer's plan for waste reduction by 2025?

PerkinElmer aims to achieve a 15% reduction in non-hazardous/non-recyclable waste going to landfills by 2025.