Bio-Rad Laboratories, Inc. (NYSE: BIO and BIOb), a global leader in life science research and clinical diagnostic products, today released its corporate sustainability report for fiscal year ended December 31, 2022.
The report has been prepared with reference to the Global Reporting Initiative (GRI) 2021 Standards and in alignment with the Sustainability Accounting Standards Board (SASB). It provides an update on Bio-Rad’s progress towards achieving its long-term sustainability targets including carbon emissions, operational energy, diversity and inclusion, sustainable packaging, and ethics and anti-corruption measures.
“During 2022, we expanded our corporate sustainability reporting and disclosures in alignment with SASB guidelines,” said Norman Schwartz, Bio-Rad’s Chief Executive Officer. “While we made meaningful progress on some of our long-term sustainability goals, we see room for continued improvement in other areas. As a company, we have a long history of respecting the environment and the communities in which we operate. We remain committed to advancing our sustainability goals during the remainder of 2023 and beyond.”
Bio-Rad’s 2022 Sustainability highlights:
- Sourced over 10% of all electricity consumed by U.S. operations from on-site renewables, an 8% increase compared to fiscal year 2021
- Increased on-site renewable energy generation in the U.S. by approximately 3 million kWh compared to 2021 level
- Decreased total Scope 2 emissions by 3% year-over-year
- Expanded proportion of underrepresented employees by 1% to 51% of U.S. workforce
- Launched a recruiting program in the U.S. focused on Historically Black Colleges and Universities
- Initiated a global labeling and packaging program to manage sustainable packaging projects
- Began tracking supplier-related spend with small businesses, which accounted for 23% of total supplier spend in 2022
The complete 2022 Corporate Sustainability Report is available on the company’s website at Bio-Rad.com/sustainability.
Bio-Rad Laboratories, Inc. (NYSE: BIO and BIOb) is a leader in developing, manufacturing, and marketing a broad range of products for the life science research and clinical diagnostics markets. Based in Hercules, California, Bio-Rad operates a global network of research, development, manufacturing, and sales operations with over 8,300 employees and $2.8 billion in revenues in 2022. Our customers include universities, research institutions, hospitals, food safety and environmental quality laboratories, and biopharmaceutical companies. Together, we develop innovative, high-quality products that advance science and save lives. To learn more, 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, our long-term sustainability targets, remaining committed to advancing our sustainability goals during the remainder of 2023 and beyond, 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 impact 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.