Thermo Fisher Scientific Releases 2023 Corporate Social Responsibility Report

Rhea-AI Summary

Thermo Fisher Scientific released its 2023 Corporate Social Responsibility (CSR) report, detailing the company's commitments and progress in various areas. The report highlights the company's efforts in community support, environmental sustainability, and workforce development. Thermo Fisher employees volunteered over 100,000 hours globally and engaged more than 60,000 students in STEM competitions. The company is committed to achieving net-zero emissions by 2050, utilizing 41% renewable energy, and aims for 80% renewable electricity by 2030. Workforce initiatives include new training programs and enhanced wellness resources.

Positive

• Employees volunteered over 100,000 hours globally.
• Engaged over 60,000 students in STEM competitions.
• 41% of global electricity sourced from renewable energy.
• New agreement for 100% renewable energy for over half of European footprint by 2025.
• Commitment to 80% renewable electricity globally by 2030.
• Launched new training programs for emerging technologies.
• Enhanced wellness resources for global workforce.

Negative

• No immediate financial gains or direct impact on stock performance reported.

Report highlights company’s commitments to all of its stakeholders and society

WALTHAM, Mass.--(BUSINESS WIRE)-- Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today released its 2023 Corporate Social Responsibility (CSR) report, which provides an overview of the company, its CSR priorities and the progress enabled by its more than 120,000 colleagues.

“Thermo Fisher is driven by a profound Mission – to enable our customers to make the world healthier, cleaner, and safer,” said Marc N. Casper, chairman, president and chief executive officer of Thermo Fisher Scientific. “We also understand our obligation goes beyond enabling our customers’ success and extends to making the world a better place by supporting our communities, being a good steward of our planet and creating a great work environment for our colleagues. I am proud of what we’ve accomplished so far and deeply grateful to our global team for their passion for fulfilling our Mission and delivering on our commitments to society.”

Highlights of the report include:

Communities

• Collectively volunteered more than 100,000 hours to support communities around the world.
• Reached more than 60,000 students through the Thermo Fisher Scientific Junior Innovators Challenge in partnership with the Society for Science, the premier STEM competition for middle schoolers in the U.S.
• Established collaborations with the National Quality Minority Forum, to increase diversity in clinical trials, and Project HOPE, to advance health equity among HIV-positive youth in sub-Saharan Africa.

Environment

• Achieved key milestones toward the company’s goal of net-zero emissions by 2050, including the sourcing 41% of global electricity from renewable energy.
• Announced a new agreement to power over half of Thermo Fisher’s European footprint with 100% renewable energy by 2025.
• Established new commitment to achieve 80% renewable electricity utilization globally by 2030.

Colleagues

• Advanced our vibrant and inclusive culture where colleagues’ unique backgrounds and perspectives are embraced.
• Continued to develop the workforce, including launching new training programs for emerging technologies and an internal generative AI platform.
• Enhanced global access to wellness resources.

In reporting its CSR progress, the company considers internationally recognized standards, guidelines and reference frameworks, including the Global Reporting Initiative (GRI) Standards, the IFRS Foundation’s SASB Standards, the Task Force on Climate-related Financial Disclosures (TCFD) and the United Nations Sustainable Development Goals (SDGs). Thermo Fisher makes additional topic-specific ESG data available to key stakeholders through its annual CDP report and voluntary disclosure of EEO-1 information.

Learn more at www.thermofisher.com/CSR.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue over $40 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, increasing productivity in their laboratories, improving patient health through diagnostics or the development and manufacture of life-changing therapies, we are here to support them. Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD. For more information, please visit www.thermofisher.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240528454437/en/

Media:

Sandy Pound

Thermo Fisher Scientific

781-622-1223

sandy.pound@thermofisher.com

Investors:

Rafael Tejada

Thermo Fisher Scientific

781-622-1356

rafael.tejada@thermofisher.com

Source: Thermo Fisher Scientific Inc.

FAQ

What are the key highlights of Thermo Fisher Scientific's 2023 CSR report?

Thermo Fisher Scientific's 2023 CSR report highlights community volunteering, STEM engagement, renewable energy usage, and workforce development.

How much renewable energy does Thermo Fisher Scientific use?

Thermo Fisher Scientific sources 41% of its global electricity from renewable energy.

What are Thermo Fisher's future renewable energy goals?

Thermo Fisher aims to achieve 80% renewable electricity globally by 2030 and net-zero emissions by 2050.

How many hours did Thermo Fisher employees volunteer in 2023?

Thermo Fisher employees volunteered over 100,000 hours globally in 2023.

What educational programs did Thermo Fisher support in 2023?

Thermo Fisher engaged over 60,000 students through the Junior Innovators Challenge and other STEM initiatives.

What workforce initiatives did Thermo Fisher implement in 2023?

Thermo Fisher launched new training programs for emerging technologies and enhanced global wellness resources.