Thermo Fisher Sets New Renewable Energy Targets and Expands Community Initiatives

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Thermo Fisher 2023 CSR Report released. Photo Credit: Unsplash+

by | Jun 4, 2024

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Thermo Fisher Scientific Inc. has released its 2023 Corporate Social Responsibility (CSR) report. The comprehensive report highlights the company’s significant progress in sustainability, community engagement, and workforce development, which its more than 120,000 colleagues worldwide have enabled.

Marc N. Casper, chairman, president, and chief executive officer of Thermo Fisher Scientific, shared, “Thermo Fisher is driven by a profound mission – to enable our customers to make the world healthier, cleaner, and safer. 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.”

Environmental Sustainability

The report outlines Thermo Fisher’s significant milestones toward achieving net-zero emissions by 2050:

  • Renewable Energy: The company sourced 41% of its global electricity from renewable energy in 2023.
  • European Footprint: A new agreement was announced to power over half of Thermo Fisher’s European operations with 100% renewable energy by 2025.
  • Global Targets: Thermo Fisher set a new goal to achieve 80% renewable electricity utilization globally by 2030.

Workforce Development and Community Engagement

Thermo Fisher’s commitment to supporting its employees and their communities is evident through several key initiatives:

  • Volunteer Efforts: Employees collectively volunteered over 100,000 hours globally to support various community projects.
  • STEM Education: The Thermo Fisher Scientific Junior Innovators Challenge, in partnership with the Society for Science, reached more than 60,000 students and promoted STEM education among middle schoolers in the U.S.
  • Health Equity: Collaborations with the National Minority Quality Forum (NMQF) and Project HOPE aim to increase diversity in clinical trials and advance health equity among HIV-positive youth in sub-Saharan Africa.
  • Inclusive Culture: The company advanced its efforts to foster an inclusive workplace where diverse backgrounds and perspectives are embraced.
  • Training Programs: New training programs for emerging technologies and an internal generative AI platform were launched to support workforce development.
  • Wellness Resources: Global access to employee wellness resources was enhanced to promote overall well-being.

Thermo Fisher’s CSR report aligns with internationally recognized standards and guidelines, 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 also provides additional ESG data through its annual CDP report and voluntary EEO-1 disclosures.

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