QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) today announced that its emissions reduction targets have been validated by the Science Based Targets initiative (SBTi) – a global recognition of its ambitions to honor the Paris Agreement’s climate goals.
The SBTi is a global body that enables companies to set ambitious emissions reductions targets in line with the latest climate science. Its Net-Zero Standard is the world’s first science-based certification of the net-zero targets set by companies around the world in line with the Paris Agreement’s goal of keeping planetary warming to 1.5°C.
This validation makes QIAGEN one of only a few companies in the pharmaceuticals, life sciences and biotechnology sector with a verified net-zero science-based target. QIAGEN has pledged to hit net-zero greenhouse gas (GHG) emissions by 2050 from 2020 as the base year.
“QIAGEN welcomes the chance to join the group of companies in the world with a verified net-zero target based on science. We believe that it is our moral and strategic responsibility to invest in sustainable business practices. Our stakeholders, including our employees and customers, rightfully expect this from us. We are doing this to help safeguard the environment, but also to ensure the long-term viability of our activities,” said Thierry Bernard, CEO of QIAGEN. “We still have a long way to go at QIAGEN in reaching our goals, but we believe that every step is vital in the fight against climate change.”
QIAGEN has committed to reducing absolute GHG output from its direct and indirect operations (Scope 1 and 2 emissions) by 42% by 2030 from a 2020 base year – and the emissions from business travel as well as the use and end-of-life treatment of sold products (Scope 3) by 25% within the same timeframe. It has also pledged that 67% of its suppliers by emissions covering purchased goods and services, capital goods and upstream transportation and distribution will have targets in line with the SBTi by 2027.
These goals have been designed to put QIAGEN on a course to reduce its absolute Scope 1, 2 and 3 emissions by 90% by 2050 from 2020 as the base year.
QIAGEN is seeking to achieve net-zero status by cutting direct and indirect emissions throughout its operations. This goal is planned to be achieved through a series of measures – including transitioning facilities to renewable energy, implementing energy-saving initiatives, minimizing waste in manufacturing, reducing its total plastic footprint, and working with suppliers and logistical operators to reduce their carbon footprints. At the end of 2022, almost 80% of the company’s electricity came from renewable resources. Also in 2022, QIAGEN reduced its plastic usage by 16%, and exceeding the target for at least a 9% reduction.
Commitment to broad range of sustainability initiatives
QIAGEN has made visible progress in its efforts towards environmental topics, but also regarding its social and governance impact. One of QIAGEN’s key ESG goals is to improve global access to healthcare. For example, the company has expanded screening for tuberculosis and made more than 100 million QuantiFERON tests available in over 130 countries. QIAGEN has also enabled screening for human papillomavirus (HPV) in low-resource areas.
With regards to governance, QIAGEN is committed to conducting business lawfully, ethically, and with high integrity. QIAGEN has established a comprehensive Compliance Program that applies to all employees and third-party intermediaries, such as distributors or agents. QIAGEN also adheres to global procedures for clinical studies and requires its suppliers to commit to strict procurement standards.
For its sustainability efforts, QIAGEN was recognized by various rating agencies in 2022. These include a “Prime” status by ISS ESG, and an A-rating from MSCI ESG Research.
QIAGEN plans to regularly provide updates on the progress to reach net zero as part of its overall sustainability performance in its Annual and Sustainability Reports.
News Source: Yahoo Finance