Thermo Fisher Scientific Raises Greenhouse Gas Emissions Reduction Target on Path to Net-zero Emissions
Company to achieve 2030 Scope 1 and 2 greenhouse gas emissions reduction target of 30% ahead of schedule; increases ambition to 50% reduction, aligned with 1.5˚C pathway
WALTHAM, Mass.--(BUSINESS WIRE)-- Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today announced a new 2030 greenhouse gas emissions reduction target to reduce its Scope 1 and 2 emissions from operations by more than 50% from a 2018 baseline.1 The company is on track to achieve its previous 2030 goal of a 30% reduction, ahead of schedule.
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The company’s new 50% reduction target fulfills its commitment to the Business Ambition to 1.5˚C campaign and aligns its climate strategy with the Paris Agreement and its reduction targets with the 1.5˚C pathway. This represents an important milestone in Thermo Fisher’s pursuit of a net-zero value chain by 2050, which includes Scope 1, 2 and 3 emissions. The company has submitted its targets to the Science Based Targets initiative for validation.
“Our net-zero goal reflects Thermo Fisher’s commitment to environmental sustainability across the company,” said Marc N. Casper, chairman, president and chief executive officer of Thermo Fisher. “Delivering on interim targets in an accelerated timeframe is a testament to our colleagues and the investments behind our ongoing climate strategy. Our ambitious new 2030 target on the path to net-zero emissions by 2050 reinforces our Mission to enable our customers to make the world healthier, cleaner and safer.”
The company has taken a multi-pronged approach in pursuit of net-zero emissions by:
- Transitioning away from fossil fuels and accelerating the adoption of renewable electricity to power its facilities. Currently, more than 100 Thermo Fisher sites across the globe use 100% renewable electricity. Earlier this year, the company entered into an agreement with Enel North America to source half of its U.S. electricity needs from wind power.
- Engaging with 90% of suppliers2 — its largest source of Scope 3 emissions — to set science-based targets by 2027, helping to reduce emissions across its global value chain in support of the world’s climate goals.
- Designing products with the environment in mind. Thermo Fisher’s greener product alternatives and ENERGY STAR™ certified products help scientists advance sustainability in the lab by minimizing the use of hazardous chemicals, decreasing waste and material consumption, and increasing energy efficiency.
More information about the company’s environmental, social and governance progress can be found at www.thermofisher.com/csr.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue of approximately $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.
1 New target is 50.4%. Both targets from a 2018 baseline
2 By spend
Source: Thermo Fisher Scientific Inc.