GlobalData offers a comprehensive analysis of Thermo Fisher, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of Net Zero and associated ESG keywords, GlobalData delivers valuable information on Thermo Fisher’s ESG performance. GlobalData’s company profile on Thermo Fisher offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Thermo Fisher, a leading scientific research and development company, has set net-zero targets for its greenhouse gas (GHG) emissions. The company aims to achieve its net-zero emissions targets by 2050. Thermo Fisher has specific goals related to scope 1, scope 2, and scope 3 emissions, which include reducing its carbon footprint and increasing its use of renewable energy sources. Thermo Fisher’s latest filings mentioned the keywords ‘Emissions’ and ‘Fossil Fuels’ most number of times in relation to ‘Net Zero’.
In 2022, the company’s Scope 1 emissions amounted to 351,834 metric tonnes of carbon dioxide equivalent, Scope 2 location-based emissions amounted to 416,928 metric tonnes of carbon dioxide equivalent, Scope 2 market-based emissions amounted to 254,395 metric tonnes of carbon dioxide equivalent. The company's scope 3 emissions amounted to 12,568,651 metric tonnes of carbon dioxide equivalent, which were categorized into 15 categories, including purchased goods and services, capital goods, fuel and energy-related activities, upstream transportation and distribution, waste generated in operations, business travel, employee commuting, use of sold products, and end-of-life treatment of sold products, downstream leased assets, franchises, and investments.
Thermo Fisher has taken several steps to reduce its emissions, including investing in renewable energy sources, implementing energy-efficient technologies, and optimizing its supply chain. The company has already generated 446,304 MWh of renewable electricity through onsite generation, supplier contracts, and environment attribute certificates. Thermo Fisher has also reduced its non-renewable energy consumption by using municipal steam and hot water and non-renewable electricity.
In conclusion, Thermo Fisher has set net-zero targets for its GHG emissions and has specific goals related to scope 1, scope 2, and scope 3 emissions. Further, Thermo Fisher recognizes the strategies and agenda of UNSDGs and has been undertaking initiatives that contribute to multiple goals, which have been categorized based on the strongest strategic alignment. One of the key tenets of the company's net-zero strategy is to accelerate the adoption of renewable electricity. The company continues to transition away from fossil fuels and increasing renewable electricity procurement and onsite solar installations.