QIAGEN publishes 2023 sustainability report, highlighting progress on ESG goals and commitment to sustainable growth

Rhea-AI Summary

QIAGEN has released its 2023 Sustainability Report, showcasing significant progress on its Environmental, Social, and Governance (ESG) commitments.

Key environmental achievements include a 15% reduction in Scope 1 and 2 emissions, primarily through increased green energy procurement, and a 7% reduction in plastic usage.

Socially, QIAGEN has expanded diagnostic access globally, committed to at least 40% female leadership by 2027, and achieved top scores for LGBTQ+ inclusion.

Governance improvements feature an updated Supplier Code of Conduct and the formation of a Human Rights Committee. ESG goals are incorporated into employee compensation, now representing 20% of annual variable pay.

QIAGEN's sustainability efforts have been recognized with high ratings from MSCI ESG Research, ISS-ESG, and Sustainalytics.

Positive

• 15% reduction in Scope 1 and 2 emissions in 2023.
• 84% of QIAGEN’s global electricity usage now comes from green energy.
• 7% reduction in plastic usage in transport packaging.
• Target to reduce plastic footprint by an additional 20 tons next year.
• Increased women’s representation in leadership roles from 28% to 36% in six years.
• New leadership target: at least 40% women by 2027.
• Highest score of 100 in the Human Rights Campaign Foundation’s Corporate Equality Index.
• 80% of suppliers committed to at least one environmental and one social goal.
• Updated Supplier Code of Conduct elevating standards across a global network.
• Formation of a Human Rights Committee to uphold high ethical standards.
• ESG goals now form 20% of annual variable compensation, up from 15%.
• MSCI ESG Research upgraded QIAGEN from A to AA.
• ISS-ESG rating of B-, maintaining 'Prime' status.
• Sustainalytics ESG Risk Ratings place QIAGEN in the 'Low Risk' group.

Negative

• No specific figures on the cost or financial impact of sustainability initiatives.
• Potential increased operational costs due to stringent Supplier Code of Conduct.
• Dependence on external partnerships for expanding diagnostic access, which may pose risks if partnerships dissolve.

ESG commitments recognized as strategic business investments bringing value to stakeholders, including customers and employees // Environment: 15% reduction in Scope 1 and 2 emissions in 2023 through green energy procurement, complemented by 7% decrease in plastic usage // Social: // Leveraging partnerships, QIAGEN broadens diagnostic access worldwide // Commits to goal of at least 40% women in leadership by 2027 // Governance: New Supplier Code of Conduct and Human Rights Committee, upholding high ethical standards across supply chain

Venlo, the Netherlands, June 12, 2024 (GLOBE NEWSWIRE) -- QIAGEN (NYSE: QGEN; Frankfurt Prime Standard: QIA) today released its 2023 Sustainability Report which underscores the company’s commitment to Environmental, Social, and Governance (ESG) principles, highlighting substantial achievements in its sustainability journey.

“In line with our vision of making improvements in life possible, we are committed to delivering the best possible portfolio of products and services while leaving the smallest possible footprint on our planet. From whom we source to how we produce, we approach each step with the intention of doing so in a sustainable way. Investing in sustainable practices is not only a moral duty but also a strategic business decision that brings value to our stakeholders, including customers and employees,” said Thierry Bernard, CEO of QIAGEN. “We are proud of the progress QIAGEN has made so far and don’t intend to relent. The actions we are taking today will help shape the future of our planet and society.”

Environment: Emission reductions and sustainable product innovations

In 2023, QIAGEN achieved a 15% reduction in Scope 1 and 2 emissions over 2022, largely attributed to the increased procurement of green energy, which now represents 84% of QIAGEN’s global electricity usage. QIAGEN also reduced plastic usage in transport packaging by 7%, aligning with its “reduce – replace – recycle” strategy. Several initiatives have supported the achievement of this goal, notably the adoption of eco-friendly transport boxes in the U.S. and EMEA as alternatives to conventional expanded polystyrene (EPS) options.

Looking forward, QIAGEN has set a goal to further decrease its plastic footprint by an additional 20 tons in the upcoming year, extending its reduction efforts across more product lines. Efforts include exploring the reduction of primary plastic packaging thickness and investigating the use of bio-based plastics for certain product components. 

Social: Expanding diagnostic access and fostering workforce diversity

Committed to making diagnostic solutions universally accessible, QIAGEN views partnerships as essential for expanding laboratory capacity and developing innovative diagnostic tools, highlighting the importance of preparedness and response in health crises. In 2023, QIAGEN strengthened its collaborative efforts through partnerships with organizations like the Pasteur Network, supporting disease surveillance and research in locations such as Senegal and the Central African Republic.

QIAGEN remains committed to combating tuberculosis, illustrated by its participation in key global health initiatives, including the 2nd United Nations General Assembly High-Level Meeting on Tuberculosis, which aims to significantly reduce TB incidence by enhancing early detection and prevention strategies.

Moreover, QIAGEN is dedicated to fostering diversity and inclusion across its workforce. In the last six years, QIAGEN has increased women’s representation in leadership roles from 28% to 36%. The company has now set a new target of at least 40% by 2027. In addition, QIAGEN has demonstrated its strong commitment to LGBTQ+ equality and inclusion, earning the highest possible score of 100 in the Human Rights Campaign Foundation’s Corporate Equality Index (CEI) for the second consecutive time. 

Governance: Enhanced ethical standards for supplier network

In 2023, QIAGEN updated its Supplier Code of Conduct to elevate standards across its global network spanning over 70 countries. Before entering into a contractual relationship with QIAGEN, the suppliers must agree to comply with stringent requirements concerning quality, legal compliance, environmental practices, and social responsibility. Today, already 80% of QIAGEN’s suppliers, measured by spend, have committed to achieving at least one environmental and one social goal. Additionally, QIAGEN has formed a Human Rights Committee to guarantee that its operations and supply chain maintain the utmost ethical standards.

ESG objectives are integrated into QIAGEN’s compensation system, forming a significant part of the annual team goals and short-term incentive compensation for the global workforce, including the Managing Board. The weight of these objectives has been increased to 20% of annual variable compensation from 15% in the year before, aligning with QIAGEN’s broader ESG goals, including environmental, safety, and diversity targets.

Sustainability efforts with high marks from rating agencies

QIAGEN’s commitment to sustainability and responsible business practices has been recognized by notable rating agencies. MSCI ESG Research upgraded QIAGEN from A to AA, ranking it as a leader among 260 companies in the “health care equipment and supplies” industry. ISS-ESG has also affirmed QIAGEN's B- rating, maintaining its “Prime” status within the top 10% of the sector. Additionally, Sustainalytics ESG Risk Ratings, assessing a company’s exposure to industry-specific material ESG risks and its management of those risks, has again placed QIAGEN in the “Low Risk” group.

For more detailed insights into QIAGEN’s sustainability initiatives and the full 2023 Sustainability Report, please visit: https://www.qiagen.com/sustainability

About QIAGEN

QIAGEN N.V., a Netherlands-based holding company, is the leading global provider of Sample to Insight solutions that enable customers to gain valuable molecular insights from samples containing the building blocks of life. Our sample technologies isolate and process DNA, RNA and proteins from blood, tissue and other materials. Assay technologies make these biomolecules visible and ready for analysis. Bioinformatics software and knowledge bases interpret data to report relevant, actionable insights. Automation solutions tie these together in seamless and cost-effective workflows. QIAGEN provides solutions to more than 500,000 customers around the world in Molecular Diagnostics (human healthcare) and Life Sciences (academia, pharma R&D and industrial applications, primarily forensics). As of March 31, 2024, QIAGEN employed more than 5,900 people in over 35 locations worldwide. Further information can be found at https://www.qiagen.com.

Forward-Looking Statement

Certain statements contained in this press release may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. To the extent that any of the statements contained herein relating to QIAGEN's products, timing for launch and development, marketing and/or regulatory approvals, financial and operational outlook, growth and expansion, collaborations, markets, strategy or operating results, including without limitation its expected adjusted net sales and adjusted diluted earnings results, are forward-looking, such statements are based on current expectations and assumptions that involve a number of uncertainties and risks. Such uncertainties and risks include, but are not limited to, risks associated with management of growth and international operations (including the effects of currency fluctuations, regulatory processes and dependence on logistics), variability of operating results and allocations between customer classes, the commercial development of markets for our products to customers in academia, pharma, applied testing and molecular diagnostics; changing relationships with customers, suppliers and strategic partners; competition; rapid or unexpected changes in technologies; fluctuations in demand for QIAGEN's products (including fluctuations due to general economic conditions, the level and timing of customers' funding, budgets and other factors); our ability to obtain regulatory approval of our products; difficulties in successfully adapting QIAGEN's products to integrated solutions and producing such products; the ability of QIAGEN to identify and develop new products and to differentiate and protect our products from competitors' products; market acceptance of QIAGEN's new products and the integration of acquired technologies and businesses; actions of governments, global or regional economic developments, weather or transportation delays, natural disasters, political or public health crises, and its impact on the demand for our products and other aspects of our business, or other force majeure events; as well as the possibility that expected benefits related to recent or pending acquisitions may not materialize as expected; and the other factors discussed under the heading “Risk Factors” in our most recent Annual Report on Form 20-F. For further information, please refer to the discussions in reports that QIAGEN has filed with, or furnished to, the U.S. Securities and Exchange Commission.

Source: QIAGEN N.V.
Category: Corporate

FAQ

What are the key achievements in QIAGEN’s 2023 Sustainability Report?

QIAGEN reduced Scope 1 and 2 emissions by 15%, cut plastic usage by 7%, and committed to at least 40% female leadership by 2027.

How much of QIAGEN’s electricity usage comes from green energy?

84% of QIAGEN’s global electricity usage is from green energy.

What is QIAGEN’s target for women in leadership roles by 2027?

QIAGEN aims for at least 40% women in leadership roles by 2027.

What actions has QIAGEN taken to reduce plastic usage?

QIAGEN reduced plastic usage in transport packaging by 7% and aims to further cut its plastic footprint by 20 tons next year.

What new governance measures has QIAGEN implemented?

QIAGEN updated its Supplier Code of Conduct and formed a Human Rights Committee.

How has QIAGEN integrated ESG goals into employee compensation?

ESG goals now form 20% of QIAGEN’s annual variable compensation.

How have rating agencies recognized QIAGEN’s sustainability efforts?

MSCI ESG Research upgraded QIAGEN to AA, ISS-ESG affirmed a B- rating, and Sustainalytics rated QIAGEN as 'Low Risk.'