WATERS 2023 ESG REPORT HIGHLIGHTS CONTINUED PROGRESS TOWARDS SUSTAINABILITY COMMITMENTS

Rhea-AI Summary

Waters Corporation (NYSE:WAT) has made significant progress towards reducing greenhouse gas emissions and increasing the use of renewable energy sources, aligning with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). The 2023 ESG report highlights a 27% reduction in Scope 1 and Scope 2 emissions since 2016 and a 33% increase in renewable energy use since 2021. Additionally, the report emphasizes the company's commitment to diversity, equity, and inclusion initiatives, including the expansion of the Waters Student Academy to over 300 students from underrepresented communities in STEM fields.

Positive

• Significant reduction in greenhouse gas emissions and increased use of renewable energy sources.
• Alignment with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
• 27% reduction in Scope 1 and Scope 2 emissions since 2016.
• 33% increase in renewable energy use since 2021.
• Expansion of the Waters Student Academy to over 300 students from underrepresented communities in STEM fields.

Negative

• None.

News Summary:

• Waters makes strong progress on its goal to reduce greenhouse gas emissions 35% by 2025 through greater use of renewable/low-carbon energy sources and further cutting Scope 1 and Scope 2 emissions by 27% over a 2016 baseline.
• Company-led diversity, equity, and inclusion initiatives contribute to more women in leadership roles; programs expand reach of Waters Student Academy to over 300 students from communities historically underrepresented in STEM fields.
• The 2023 ESG report details Waters approach and alignment with recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

MILFORD, Mass., Nov. 16, 2023 /PRNewswire/ -- Waters Corporation (NYSE:WAT) today issued its 2023 Environmental, Social, and Governance (ESG) report, highlighting the company's progress towards advancing its sustainability goals. The report also highlights Waters practices that support customers in their sustainability initiatives in areas such as products that consume less energy and reduced packaging material used in shipping.

Waters makes progress against ESG goals as part of companywide efforts to "leave the world better than we found it."

"At Waters, we are driven to solve some of the most difficult global problems to help fulfill our mission of leaving the world better than we found it," said Dr. Udit Batra, President and CEO of Waters Corporation. "We made solid gains in our overall progress to reduce emissions, increase the use of renewable energy, and have delivered innovative products that have a lower environmental impact. I am also very proud of our progress to become more representative of the society we live in through programs like Waters Student Academy and our global internship program, and by the increase of women in leadership roles. Our focused efforts today are ensuring a more equitable and inclusive culture of tomorrow, allowing us to make a meaningful impact."

2023 ESG Report Highlights
Waters achieved considerable progress against the updated goals it introduced last year as part of its companywide efforts to "leave the world better than we found it," a key principle that directs Waters in its ESG efforts. Progress highlights include:

Environmental

• Five percent decrease in year-over-year Scope 1 and 2 greenhouse gas emissions. Waters has cut Scope 1 and 2 emissions 27% since 2016, making strong progress towards its goal to reduce greenhouse gas emissions 35% by 2025.
• Ninety percent of waste diverted from landfills in 2022 and an 8.5% reduction in non-hazardous waste since 2016. Also reduced water use intensity 25% below a 2019 baseline.
• Nearly 33% increase in renewable energy use since 2021, with approximately 77% of the company's electricity sourced from renewable and/or low-carbon sources in 2022.
• Introduced Xevo™ TQ Absolute Mass Spectrometer that consumes roughly half the energy and nitrogen and generates approximately half the heat of comparable instruments. Newest column products use 100% recycled and/or recyclable packaging materials.

Social

• Increased the number of women at the Senior Director level and above to 34%, a 12% increase since 2017. Also grew Waters global internship program to bring in 150 graduate and undergraduate students, of which 45% were women.
• Grew Waters Student Academy STEM education program to reach more than 300 students since 2022, mostly from communities in the U.S. and U.K. historically underrepresented in STEM fields.
• Expanded partnerships with LGBTQIA+ advocacy organizations such as Stonewall and PFLAG, along with enhancements to employee benefits that further support gender transition and wellbeing.

Governance

• For the first time, Waters includes the company's approach to disclosing climate-related risks and opportunities aligned with recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
• Reported continued progress against objectives via industry frameworks such as the Sustainability Accounting Standards Board (SASB), United Nations 2030 Agenda for Sustainable Development, and Global Reporting Initiative (GRI).

Recognition of ESG Efforts by Third Parties

Waters received 15 awards in recognition of its ESG efforts since 2022. These include Barron's 2023 100 Most Sustainable Companies U.S. list; Dow Jones Sustainability Index; Newsweek – America's Greenest Companies 2024; USA Today – America's Climate Leaders 2023; 2023 EcoVadis Silver Medal; 2023 Biobase New Leaf Award (China); and U.S. News & World Report – Best Companies to Work for 2023.

Additional Resources

• Read the complete Waters 2023 ESG Report
• Learn about job opportunities at Waters by visiting the Waters career page
• Follow and connect with Waters LinkedIn, Twitter, and Facebook

About Waters (www.waters.com)

Waters Corporation (NYSE: WAT), a global leader in analytical instruments and software, has pioneered chromatography, mass spectrometry, and thermal analysis innovations serving the life, materials, and food sciences for over 60 years. With approximately 8,000 employees worldwide, Waters operates directly in 35 countries, including 14 manufacturing facilities, and with products available in more than 100 countries.

Waters and Xevo are trademarks of Waters Corporation.

Contact:

Kevin Kempskie
Senior PR Director, Corporate Communications
Waters Corporation
+1-508-482-2814
pr@waters.com 

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SOURCE Waters Corporation

FAQ

What are Waters Corporation's sustainability goals?

Waters Corporation aims to reduce greenhouse gas emissions by 35% by 2025 and increase the use of renewable/low-carbon energy sources.

How has Waters Corporation contributed to diversity and inclusion?

Waters Corporation has increased the number of women in leadership roles and expanded the Waters Student Academy to over 300 students from underrepresented communities in STEM fields.

What is the focus of Waters Corporation's 2023 ESG report?

The 2023 ESG report details Waters' progress in reducing emissions, increasing renewable energy use, and supporting diversity, equity, and inclusion initiatives.

What are the environmental achievements highlighted in the 2023 ESG report?

The report highlights a 27% reduction in Scope 1 and Scope 2 emissions since 2016, a 33% increase in renewable energy use since 2021, and the introduction of environmentally friendly products.