IDEXX Announces New Goals in Its 2021 Corporate Responsibility Report and Advances Progress on Environmental, Social, and Governance Initiatives

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Jul 19, 2022, 07:00 ET

Completed ESG materiality and carbon footprint assessments to identify the most significant priorities with input from key global stakeholders.
Established targets to reduce Scope 1 and 2 greenhouse gas emissions by 37.8% by 2030 while working to reduce the environmental impact of our products and packaging.
Advanced diversity, equity, and inclusion initiatives to increase the diversity of leadership and set goals to increase the representation of underrepresented groups in U.S. management.
Amplified community impact through the IDEXX Foundation, corporate donations, and employee volunteering.
Committed to maintaining gender balance in global management, where women represented 48% of global management roles in 2021.

WESTBROOK, Maine, July 19, 2022 /PRNewswire/ -- IDEXX Laboratories, Inc. (NASDAQ: IDXX), a global leader in pet healthcare innovation, today published its 2021 Corporate Responsibility Report. This report details the company's progress and announces new goals for environmental sustainability; people and community; and governance, ethics, and compliance. The 2021 Corporate Responsibility Report is IDEXX's third report and includes disclosures aligned with leading reporting standards and frameworks.

"Driven by our Purpose to enhance the health and well-being of pets, people, and livestock, we have a responsibility and an opportunity to create a better future for animals, people, and our planet," said Jay Mazelsky, IDEXX President and Chief Executive Officer. "As we work together on key initiatives in our ESG focus areas, IDEXX will support the advancement of the standard of animal care globally, create long-term value for our stakeholders, and make a meaningful difference in the world."

Environmental sustainability

The 2021 Corporate Responsibility Report describes how IDEXX is accelerating its scientifically directed approach to environmental sustainability through innovation, climate action, and a focus on environmental impact reduction. Key highlights include the following:

Set a new target to reduce greenhouse gas emissions in its own operations by 37.8% by 2030. The target focuses on Scope 1 and 2 emissions and is aligned with the United Nations Paris Agreement to limit global temperature rise to 1.5 degrees Celsius.
Set a new goal to source 100% renewable electricity by 2030.
Transitioned to sustainable insulated packaging for cold consumable shipments in 2021 in the U.S., which will avoid the use of approximately 330,000 pounds of polystyrene foam waste each year.

People and community

IDEXX's 2021 Corporate Responsibility Report outlines the company's progress and commitments to build a culture that brings out the best in its people. IDEXX does this by cultivating a collaborative workplace that promotes greater diversity, equity, inclusion, well-being, and respect of people and communities across our value chain. Key highlights include the following:

Committed to maintaining gender balance in global management, where women represented 48% of global management and 59% of STEM (science, technology, engineering, and math) roles in 2021.
Committed to increasing the representation of underrepresented groups in U.S. management to 33% by 2030.
Pledged to expand access to care for more than 500,000 animals in underserved communities and amplify access to mental health and well-being support for veterinary students and veterinary professionals around the world by 2025.
Disclosed the latest consolidated EEO-1 data on its website and increased transparency in the composition of the global and U.S. workforce.

Governance, ethics, and compliance

Aligned with IDEXX's Purpose and Guiding Principles, the company aims to lead responsibly and ethically, ensuring transparency, integrity, and accountability are at the center of everything we do. The 2021 Corporate Responsibility Report provides updates on key advancements and commitments, such as these:

Completed ESG materiality and carbon footprint assessments with the assistance of industry-leading external sustainability firms.
Updated Board committee charters and the Corporate Governance Guidelines to clarify ESG oversight accountabilities.
Adopted a Policy on Political Contributions and Public Policy Engagement to formalize IDEXX's long-standing practice of not making political contributions.

IDEXX's 2021 Corporate Responsibility Report is aligned with the Sustainability Accounting Standards Board (SASB) and the Taskforce for Climate-related Financial Disclosures (TCFD) and demonstrates how IDEXX is contributing to the United Nations Sustainable Development Goals (UNSDGs). For more detailed information on IDEXX's ESG programs, practices, and policies and to read the 2021 Corporate Responsibility Report, please visit idexx.com/en/about-idexx/corporate-responsibility.

About IDEXX

IDEXX is a global leader in pet healthcare innovation. Our diagnostic and software products and services create clarity in the complex, constantly evolving world of veterinary medicine. We support longer, fuller lives for pets by delivering insights and solutions that help the veterinary community around the world make confident decisions—to advance medical care, improve efficiency, and build thriving practices. Our innovations also help ensure the safety of milk and water across the world and maintain the health and well-being of people and livestock. IDEXX Laboratories, Inc. is a member of the S&P 500^® Index. Headquartered in Maine, IDEXX employs more than 10,000 people and offers solutions and products to customers in more than 175 countries. For more information about IDEXX, visit idexx.com. For media inquiries, please get in touch at [email protected].

Note Regarding Forward-Looking Statements

This news release contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as "expects," "may," "anticipates," "intends," "would," "will," "plans," "believes," "estimates," "should," "project," and similar words and expressions. These forward-looking statements are intended to provide our current expectation or forecasts of future events; are based on current estimates, projections, beliefs, and assumptions; and are not guarantees of future performance. Actual events or results may differ materially from those described in the forward-looking statements. These statements are subject to risks, uncertainties, assumptions and other important factors. Readers are cautioned not to put undue reliance on such forward-looking statements because actual results may vary materially from those expressed or implied. The reports filed by IDEXX pursuant to United States securities laws contain discussions of some of these risks and uncertainties. IDEXX assumes no obligation to, and expressly disclaims any obligation to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are advised to review IDEXX's filings with the United States Securities and Exchange Commission (which are available from the SEC's EDGAR database at sec.gov and via IDEXX's website at idexx.com).

SOURCE IDEXX Laboratories, Inc.