Bio-Rad Laboratories, Inc. (NYSE: BIO and BIOb), a global leader in life science research and clinical diagnostic products, today released its inaugural corporate sustainability report.
The report is based on an assessment Bio-Rad conducted in 2021 to identify the highest priority topics for sustainability and to set targets for improvement. It is prepared in accordance with Global Reporting Initiative (GRI) Standards: Core Option.
Bio-Rad’s top sustainability focus areas include carbon footprint, operational energy, diversity and inclusion, sustainable packaging, and ethics and anti-corruption measures. These areas comprise the key elements of Bio-Rad’s sustainability strategy and include the following long-term goals the company aims to achieve by 2030:
- reducing Scope 1 and 2 carbon emissions by 46% (1)
- purchasing renewable electricity for 100% of Bio-Rad’s U.S. facilities
- increasing the proportion of women in the company’s U.S. leadership roles to 45% (2)
- ensuring that underrepresented employees make up 60% of Bio-Rad’s U.S. workforce (3)
- reducing the use of non-recyclable packaging materials by 25% (4)
- achieving recognition as one of the most ethical companies in the world (5)
"Throughout our 70-year history of developing innovative products that advance scientific discovery and improve healthcare, Bio-Rad has established a reputation for high levels of quality and customer service,” said Norman Schwartz, the company’s Chief Executive Officer. ”We have a long track record of respecting the environment, the communities we operate in, and our employees. We remain committed to these values while advancing our long-term corporate sustainability goals.”
The complete 2022 Corporate Sustainability Report is available on the company’s website at Bio-Rad.com/sustainability
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(1)
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Absolute Scope 1 and 2 CO2e emissions over a 2019 baseline for the company’s global operations
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(2)
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Leadership roles are defined as Manager level and above
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(3)
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Underrepresented employees include Blacks, Hispanics, Asians, two or more races, and Other
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(4)
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From a 2022 baseline
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(5)
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Based on rankings by an independent, corporate ethical standards rating agency
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About Bio-Rad
Bio-Rad Laboratories, Inc. (NYSE: BIO and BIOb) is a global leader in developing, manufacturing, and marketing a broad range of innovative products for the life science research and clinical diagnostic markets. With 70 years of focus on quality and customer service, our products advance the scientific discovery process and improve healthcare. Our customers are universities, research institutions, hospitals, biotechnology and pharmaceutical companies, as well as public health and commercial laboratories including food safety and environmental quality testing facilities. Based in Hercules, California, Bio-Rad has a global network of operations with approximately 7,900 employees worldwide and $2.9 billion in revenues in 2021. For more information, please visit bio-rad.com.
This release may be deemed to contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements we make regarding our corporate sustainability report and management’s goals, plans, expectations, future performance and other matters. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "plan", "believe," "expect," "anticipate," "may," "will," "intend," "estimate," "continue," or similar expressions or the negative of those terms or expressions, although not all forward-looking statements contain these words. Such statements are based on assumptions and expectations of future events that are subject to risks and uncertainties, which could cause actual results to vary materially from the plans, goals, and expectations expressed in or indicated by the forward-looking statements. These risks and uncertainties include the duration and severity of the COVID-19 pandemic, supply chain risks, our ability to develop and market new or improved products, our ability to compete effectively, international legal and regulatory risks, and product quality and liability issues. For further information regarding our risks and uncertainties, please refer to the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operation" in Bio-Rad’s public reports filed with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. Bio-Rad cautions you not to place undue reliance on forward-looking statements, which reflect an analysis only and speak only as of the date hereof. We disclaim any obligation to update these forward-looking statements.
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