Thermo Fisher Scientific : Download the 2023 Corporate Social Responsibility Report

2023 Corporate Social Responsibility Report

Our Mission is to enable our customers to make the world

2023 Corporate Social Responsibility Report

Our company

CSR commitment

Operations

Colleagues

Communities

Environment

Data summary

Appendices

2

Contents

Letter from our CEO	3
Our company	5
Highlights	6
Mission	7
Innovation	9
CSR commitment	11
CSR strategy	12
Corporate governance	13
Ethics	15
Data privacy and security	19
Sustainable finance	20
Operations	21
Quality, regulatory and clinical affairs	22
Environmental, health and safety	24
Responsible sourcing	26

Colleagues	29
Diversity and inclusion	31
Talent management	34
Benefits and wellbeing	38

Communities	40
STEM education	41
Health equity	45
Environment	50
Climate	52
Nature	57
Greener by design™ program	59
Data summary	63
Appendices	68
Endnotes	85
About this report	87

Operations	21		Colleagues	29

Communities	40		Environment	50

Our Corporate Social Responsibility (CSR) Report reflects our commitment to society and our stakeholders and is aligned with the four pillars of our CSR strategy: Operations, Colleagues, Communities and Environment. Detailing our progress on relevant environmental, social and governance priorities, the updates in this report cover the period from January 1 to December 31, 2023, unless otherwise noted. For more information, see About this report.

2023 Corporate Social Responsibility Report

Our company

CSR commitment

Operations

Colleagues

Communities

Environment

Data summary

Appendices

3

Letter from our CEO

Thermo Fisher Scientific is the world leader in serving science, and we are driven by a profound Mission - to enable our customers to make the world healthier, cleaner and safer. This inspires our colleagues to bring their best every day because we know the work we do improves lives all over the world, as we help our customers diagnose disease, develop new treatments, protect our planet and keep people safe.

As a Mission-driven company, we also understand that our obligation - and our opportunity - goes beyond enabling our customers' success and extends to making the world a better place by supporting our communities, being a good steward of our planet and creating a great work environment for our colleagues.

I'm deeply grateful to our global team for their passion for fulfilling our Mission and delivering on our commitments to society. Together we made a significant impact in 2023.

Serving our communities

Embedded in our culture is a strong sense of service to others, and I'm always inspired by our colleagues' compassion and enthusiasm for making a difference. Through their involvement and the leadership of our Community Action Councils, our team collectively volunteered more than 100,000 hours to support communities around the world. This included outstanding participation in our company's annual Involvement programs like STEM Education Month, Get Involved, Healthier Communities, Earth Day, and Belonging Week.

We also made an impact through our corporate initiatives, including the inaugural Thermo Fisher Scientific Junior Innovators Challenge, a partnership with the Society for Science. This premier STEM competition for middle schoolers in the US reached more than 60,000 students during 2023 and culminated with 12-year-old Shanya Gill winning the top prize for her innovative fire detection system.

In addition, we established new collaborations with health and humanitarian organizations like the National Quality Minority Forum, to increase diversity in clinical trials, and Project HOPE, to advance health equity among HIV positive youth in sub-Saharan Africa.

Protecting our planet

During the year, we continued to advance our environmental sustainability roadmap. Building on the progress we've already made in accelerating adoption of renewable electricity, in 2023 we entered into an agreement to power over half of Thermo Fisher's European footprint with 100% renewable energy by 2025. We also established a new commitment to achieve 80% renewable electricity utilization globally by 2030.

These actions bring us another step closer to achieving our net-zero emissions goal. As we move ahead, we continue to improve the environmental sustainability of our sites, and

2023 Corporate Social Responsibility Report

Our company

CSR commitment

Operations

Colleagues

Communities

Environment

Data summary

Appendices

4

we are working with our suppliers to reduce emissions across our global value chain. Throughout our businesses, we are also reengineering the way we design, produce, package and ship our products.

In all of this, our colleagues play a crucial role - contributing a wealth of diverse ideas to drive innovation and leveraging our PPI Business System to continuously improve our company and make a positive impact for society.

Providing a great work experience

Of course, our impact begins right here, within Thermo Fisher and the kind of environment we create for our colleagues. Everything we do is made possible by our amazing global team, so we are committed to making our company the very best place to work.

I'm proud that we continue to create a vibrant and inclusive culture where our colleagues know their unique backgrounds and perspectives are embraced. This is not only the right thing to do - we also recognize it is essential to our future. We need our colleagues' best ideas, collaborative energy and passion to keep delivering innovative new products for our customers, improving our processes to become more efficient and effective and enhancing our performance.

This is an ongoing journey, and we'll keep working to create a stronger sense of belonging within our company and ensure that our colleagues have rewarding and impactful careers at Thermo Fisher.

We accomplished a lot last year, and these are just a few highlights. I encourage you to read our full Corporate Social Responsibility Report to gain more perspective on

our contributions.

I'm excited about what lies ahead and how, together, we'll keep building a brighter future for all of our stakeholders.

Sincerely,

Marc N. Casper

Chairman, President and CEO

2023 Corporate Social Responsibility Report	Our company	CSR commitment	Operations	Colleagues	Communities	Environment	Data summary	Appendices	5

Our company

Thermo Fisher Scientific is the world leader in serving science. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, increasing productivity in their laboratories, improving patient health through diagnostics, or developing and manufacturing life-changing therapies, we are here to support them. Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services.

Highlights6

Mission7

Innovation9

2023 Corporate Social Responsibility Report	Our company	CSR commitment	Operations	Colleagues	Communities	Environment	Data summary	Appendices	6

2023 highlights

Safety first

Leveraged our Practical Process Improvement (PPI) Business System, a deeply ingrained philosophy of operational excellence, to simplify colleague reporting of potential safety hazards realizing a 30% reduction in the total recordable incident rate across our distribution centers.

Inclusive clinical trials

Together with our customers, made meaningful progress to improve diversity in clinical trials through training programs, partnerships and community health clinic support so that all patients have access to the latest advancements in lifesaving therapies.

Future talent

Continued to develop our workforce to address emerging opportunities with the launch of our Digital Leadership

Development program providing early talent with hands-on experience through Thermo Fisher rotational opportunities.

Net-zero roadmap

Reached important milestones including sourcing 41% of global electricity from renewable energy toward our new target of 80% by 2030, and joining forces with a value chain partner in an aggregated 127-megawatt virtual power purchase agreement.

Next-generation innovators

Through our Foundation for Science, reached 93,500 students and 6,500 educators globally with STEM programs, colleague-led volunteer events and our middle school research competition the Thermo Fisher Scientific Junior InnovatorsTM Challenge.

Oversight

Continued to enhance executive oversight of priority CSR matters with new leadership committees for human rights, supply chain due diligence, and artificial intelligence as well as establishing a Generative

AI Center of Excellence and three new Communities of Practice for specialized areas of environmental, health and safety.

2023 Corporate Social Responsibility Report	Our company	CSR commitment	Operations	Colleagues	Communities	Environment	Data summary	Appendices	7

Our Mission is to enable our customers to make the world healthier, cleaner and safer

We fulfill our Mission in countless ways, making a positive impact on the world through our work. Here are just a few examples from 2023.

Healthier

• Empowered researchers with our groundbreakingThermo Scientific™ Orbitrap™ Astral™ mass spectrometer, which is helping our customers uncover previously undetectable proteins to advance precision medicine
• Selected by the US Biomedical Advanced Research and Development Authority to support a large-platform clinical trial investigating multiple therapeutic options for the treatment
  of an acute, life-threatening lung condition

Cleaner

• Enabled researchers to study microbes extracted from the sea floor to learn about their impact on the environment and inform our knowledge of climate change and the evolution of viruses
• Equipped a new electron microscopy laboratory at South China University of Technology to support materials science research that will advance the development of cleaner and more sustainable energy technologies

Safer

• Provided forensic scientists with genetic analysis tools used to identify victims and reunite family members in the aftermath of catastrophic events, like the tragic 2023 earthquake in Turkey
• Supported law enforcement agencies in the US and Europe with handheld narcotics analyzers to protect officers from accidental exposure to dangerous substances like fentanyl

2023 Corporate Social Responsibility Report	Our company	CSR commitment	Operations	Colleagues	Communities	Environment

At a glance1

Data summary

Appendices

8

> $40B

revenue

Brands

> 120,000

colleagues

$1.3B

R&D investment

Our industry-leading brands enable our customers to push science and technology a step beyond where they are today.

Analytical precision

Inspiring

Accelerating

One-stop access

Instrument and

Pharma services

Drug development

and diagnostics

meaningful

discovery research

for scientific

enterprise services

and clinical trials

excellence

genetic analysis

products

Values

Our 4i Values of Integrity, Intensity, Innovation and Involvement are the foundation of our culture and fundamental to our growth.

Integrity

Intensity

Innovation

Involvement

Honor commitments,

Be determined to deliver

Create value by transforming

Make connections to work as

communicate openly and

results with speed, excellence

knowledge and ideas into

one global team, embracing

demonstrate the highest

and a passion to succeed

differentiated products and

unique perspectives and treating

ethical standards

services for our customers

others with dignity and respect

2023 Corporate Social Responsibility Report	Our company	CSR commitment	Operations	Colleagues	Communities	Environment	Data summary	Appendices	9

Innovation

At Thermo Fisher, our focus on high-impact innovation enables our customers to address some of the world's greatest challenges. As science continues to advance at a rapid pace, our customers rely on us as a trusted partner to deliver transformative technologies and services that help them break new ground in their important work. This includes helping them improve diagnostics and patient care, develop new treatments for disease, and accelerate climate research, while also reducing their own impact on the planet.

"

This is a really great test for reassuring my patients and guiding them appropriately. Whether it's positive or negative, I can tell my patients to the best of my knowledge how their pregnancy is going to go in the next two-to-four weeks. To me, that's the biggest benefit."

Dr. Sarosh Rana

Professor of Obstetrics and Gynecology and Section Chief of Maternal Fetal Medicine

at the University of Chicago Medicine

Hear directly from a patient who benefited from this innovation.

Maternal health

Empowering doctors to assess risk of preeclampsia and manage care

According to the Journal of the American Heart Association, the incidence of gestational hypertension and preeclampsia nearly doubled in the United States between 2007 and 2019,2 and the US Centers for Disease Control and Prevention says that preeclampsia now occurs in 5%-7%of all pregnancies worldwide.3 Preeclampsia is a serious medical condition related to hypertension or high blood pressure during pregnancy or the post- partum period. It can lead to serious complications for mothers and their babies, including heart, liver, kidney or lung damage, seizures, strokes, premature birth, low birth weight and even death. It's one of the leading causes of maternal mortality worldwide and is responsible for more than 70,000 maternal deaths and 500,000 fetal deaths each year. In the US, the rate of preeclampsia in Black women is 60% higher than in White women, and Black women are more likely to experience poorer outcomes associated with the disease.

Previously in the US, there wasn't a recommended test that could predict the future onset of preeclampsia early in pregnancy, and the standard of care was to treat pregnant women only once there were complications. Thermo Fisher offers a test that

will have a significant impact on the prognosis and treatment of women in the US at risk of this condition. The Thermo Scientific™ B·R·A·H·M·S™ sFlt-1/PlGF KRYPTOR™ Test System includes the first and only blood-based immunoassays to receive breakthrough designation and clearance from the US Food and Drug Administration (FDA) for the risk assessment and clinical management of preeclampsia in pregnant women. While approved for use in the US in 2023, this test has been available in other parts of the world for nearly 10 years.

Used along with other laboratory tests and clinical assessments, this blood test can measure the ratio between two proteins found in the placenta (sFlt-1 and PlGF). From these results, doctors can predict if women who have been hospitalized for pregnancy-related hypertensive disorders are at risk of progressing to preeclampsia with severe features within the next two weeks. Based on the results, doctors can then appropriately manage their patients. The test is designed to be run on the Thermo Scientific B·R·A·H·M·S KRYPTOR compact PLUS clinical chemistry analyzer, an instrument that is fast, reliable and easy to use.

• This breakthrough innovation was named one of TIME's Best Inventions of 2023.

2023 Corporate Social Responsibility Report	Our company	CSR commitment	Operations	Colleagues	Communities	Environment	Data summary	Appendices	10

"

With DynaGreen microplastic-free magnetic beads, scientists can isolate proteins for disease research in

a more sustainable way. We're enabling our customers to reduce their environmental impact without compromising on product performance. And this is just the beginning."

Janne Eidem

R&D Molecular Biology Scientist at

Thermo Fisher Scientific

    More information on our Greener by design™

program can be found in the Environment section.

Design for sustainability

Providing scientists with more sustainable, high-performing magnetic beads for protein purification

At Thermo Fisher, we innovate with the planet in mind. Our Greener by design™ program guides the way we design, produce, package and ship our products and how we manage products at end of life, providing our customers with more sustainable solutions.

Launched in 2023, the Invitrogen™ DynaGreen™ magnetic bead platform is an example of how our company is thinking more holistically about the ways we can make the most of our resources and reduce the environmental impact of our products without compromising on quality or performance. We leveraged our design for sustainability frameworks and processes along with our PPI Business System to develop this new platform.

For more than 30 years, scientists have been using Invitrogen™ Dynabeads™ products for the purification and analysis of cells, proteins, exosomes, DNA, RNA and other molecules. With a wide variety of life sciences, biotechnology and healthcare applications, Dynabeads™ are also enabling

novel CAR-T cell therapy and epidemiological wastewater surveillance. By combining the legacy of Dynabeads™ products with the 12 principles of green chemistry4-guiding industry frameworks for reducing hazardous substances-Thermo Fisher created the next generation of magnetic beads.

Developing a more sustainable solution from start to finish was the guiding principle of this initiative. In addition to being free of microplastics, which are common in most other magnetic beads on the market, the DynaGreen™ platform offers:

• More energy-efficient manufacturing
• Up to 48% less material
• More sustainable chemicals and buffers
• Reduced water consumption
• Recombinant proteins (animal-origin-free)
• Ambient temperature shipping
• Up to 57% less primary packaging
• Paperless documentation
• Recyclable packaging

The DynaGreen™ beads offer reduced environmental impacts are not limited to manufacturing, packaging and distribution; they also extend to product use. The protocol for using DynaGreen™ magnetic beads reduces the number of beads required per reaction, yielding results equivalent to those of comparable products but using less material.

Scientists leveraging immunoprecipitation-a technique used in molecular biology, biochemistry, immunology and cell biology to isolate and purify specific proteins within a complex mixture-can now reduce their environmental impact during protein purification while producing results that are comparable to or better than the industry standard. Using these more sustainable, high-performing beads, scientists can isolate target proteins with simple manual and automated workflows that can be performed on all Thermo Scientific™ KingFisher™ purification systems. With the DynaGreen™ platform, they can choose a more environmentally sustainable solution while delivering the quality, reliability and reproducibility they expect from Thermo Fisher.

Helping scientists achieve their sustainability goals is just one of the ways we are enabling our customers to make the world healthier, cleaner and safer.