Company highlights colleagues’ commitment to innovation, progress toward ambitious targets, and building a brighter future for all stakeholders
WALTHAM, Mass. — Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today released its annual Corporate Social Responsibility (CSR) report. The report highlights the company’s commitment to society and stakeholders and provides insight into its CSR progress and environmental, social and governance (ESG) efforts.
“Our Mission to enable our customers to make the world healthier, cleaner and safer inspires our 125,000 colleagues every day,” said Marc N. Casper, chairman, president and chief executive officer of Thermo Fisher Scientific. “We are proud of the progress we are making across our CSR commitments and ESG priorities and we’re excited about the opportunities ahead to continue making a positive impact.”
Thermo Fisher’s CSR report centers on four key pillars—Environment, Colleagues, Communities, and Operations—aligned to the company’s strategy and values; and showcases the innovation made possible by the passion and talent of its more than 125,000 colleagues worldwide. Highlights of the report include:
- Progressed the company’s net-zero emissions goals—approved by the Science Based Targets initiative (SBTi)—for Scopes 1, 2 and 3; achieving a 25% reduction in Scopes 1 and 2 compared to 2018; reaching fossil fuel-free status at 20 sites; and powering 150 sites with renewable electricity.
- Expanded its Design for Sustainability program to accelerate the integration of environmental considerations in product innovation, furthering a long-standing colleague-driven commitment to deliver new solutions that help customers reach their business and sustainability goals.
- Delivered on the company’s commitment to climate and nature by introducing near-term targets aimed at addressing water scarcity and reducing waste.
- Increased global representation of women in the company’s workforce by 5.9% since 2019, including a 9.3% increase of U.S. women in executive management roles.
- Provided additional support to meet colleagues’ evolving needs, including making special payments to offset the global impact of inflation, and expanding mental health coverage in the U.S. by implementing a Behavioral Health Navigator platform.
- Reached more than 89,500 students through global programming to advance STEM education access and equity, completed a record number of community engagement events resulting in over 120,000 colleague volunteer hours, and launched the Thermo Fisher Scientific Junior Innovators Challenge, the premier middle school STEM competition in the U.S.
- Advanced global health equity in more than 100 low- and middle-income countries and developed public-private partnerships to save more lives by making a positive impact in the management of infectious diseases like HIV/AIDS.
- Optimized the company’s responsible sourcing program to increase value to customers, assessing 50% of its direct materials supply for ESG performance and granting over $2 billion in awards to small and diverse suppliers.
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). The company makes additional topic-specific ESG data available to key stakeholders through CDP, EcoVadis and the voluntary disclosure of its annual EEO-1 information.