Leading the change: Embracing environmental sustainability in corporate operations

New Delhi (India), June 9: As the world becomes increasingly aware of the impact of climate change, businesses are recognizing their pivotal role in shaping a sustainable future. To remain viable, innovative strategies that transform business ecosystems and accelerate environmental sustainability are crucial.

Why sustainability matters
It is no longer enough for businesses to merely aspire to be sustainable - sustainability must be embedded in the company’s mission and translated into tangible action. A rising number of companies are recognizing this imperative and putting sustainability at the center of how value is created for customers.

At Thermo Fisher Scientific, we are inspired by our Mission to enable our customers to make the world healthier, cleaner and safer. We realize that as the world leader in serving science, we are responsible not just for our customer's success but also for driving environmental stewardship.

Incorporating sustainability into our business strategy
With our extensive capabilities spanning diverse industries, we have developed a holistic environmental strategy that incorporates the perspectives of all our stakeholders, including customers, colleagues, communities, shareholders, investors and ESG (Environmental, Social and Governance) rating agencies, government and regulators, suppliers and business partners.

For example, in 2022, we increased our Scope 1 and 2 greenhouse gas emissions reduction target to 50% by 2030, from our previous target of 30%*. This milestone represents a crucial step towards achieving our company’s ambition of a net zero by 2050, including Scope 1, 2 and 3 emissions.

Our near- and long-term targets have been approved by the Science Based Targets Initiative (SBTi), an independent organization dedicated to driving climate action in the private sector. This makes Thermo Fisher one of the first companies in our industry to have net-zero targets validated by the SBTi and confirms our commitment to making a positive impact on the environment for generations to come.

Implementing sustainable practices
Thermo Fisher has adopted a multi-pronged approach in pursuit of its environmental sustainability goals:
• Transitioning away from the use of fossil fuels and high-impact refrigerants - Globally, more than 150 Thermo Fisher sites are powered by 100% renewable electricity. We are determined to further enhance our sustainability efforts by building greener facilities and making changes to existing ones to reduce our reliance on fossil fuels.
• Engaging with suppliers to amplify collective progress - We recognize that mitigating the impact of climate change requires a collaborative effort across our entire value chain. Over 95% of our value chain emissions are generated outside of our operations. To address this, our Scope 3 emissions target is to have 90% of our suppliers by spend set science-based targets by 2027.
• Designing products with the environment in mind – Our company-wide Design for Sustainability program is a guide for applying sustainability principles to the development of products and processes- from the design stage to the end of life. It leverages innovation to focus on five key areas: less hazardous, less waste, more energy efficient, responsibly packaged and extended life.

Contributing to a cleaner environment
To align our strategy with our commitment, we have adopted multiple initiatives in India. At the forefront of our efforts are our pioneering solutions, such as the Dilution Flue Gas Desulphurization Continuous Emission Monitoring Systems (FGD CEMS) and SOLA-II systems. These instruments are designed to monitor the pre and post-process emission of SO2 levels from thermal power plants, facilitating refineries to achieve their targets and reduce the impact of harmful gases.

Our monitoring systems are now being used in the world’s first 3G refinery-based ethanol project initiated by India. It’s just one of the many projects our technology has been employed for, helping to minimize emissions and ultimately achieve sustainable development goals.

Our wide range of analytical instrumentation is effectively being deployed for the evaluation of EV batteries and their components, which is crucial for the transition to clean energy.

Our mass spectrometers provide real-time, accurate analysis to monitor the purity of green hydrogen, which is a significant economic opportunity for India and a crucial component of the government's National Hydrogen Mission.

As an industry leader in Ion Chromatography, our systems are extensively used for routine testing in water samples, evaluating toxicity and determining organic and inorganic ion species.

Partnering with customers to make more sustainable choices
Addressing sustainability challenges requires a collaborative effort. Through our own greener product labels, backed by green claims documentation, and third-party certified labels, customers can quickly identify products that meet their sustainability criteria.

Extending responsibility at all levels
Environmental sustainability is an ongoing commitment that requires constant innovation and improvement. By continually adapting new practices, investing in research and development, and fostering a culture of sustainability, organizations can ensure that their commitment to environmental stewardship remains strong. At Thermo Fisher, our colleagues are inspired by our internal system of Practical Process Improvement (PPI) to find a better way every day to help the company and our customers achieve environmental sustainability goals.

*Exact target is 50.4% from a 2018 baseline. Our 2018 Scope 1 and 2 market baseline is 807,341 metric tons of carbon dioxide equivalent (MTCO2 e).