Climate Change Data

Environmental Metrics

ESG Focus Areas

• Care (advancing animal, human, and environmental health)
• People (supporting employees and communities)
• Planet (protecting the environment)
• Governance (ethical conduct and sustainable practices)

Environmental Achievements

• GHG emissions intensity decreased compared to 2021, despite a net increase in FY22 due to business growth.
• Transitioned to environmentally friendly insulated packaging for European cold consumables shipments, avoiding more than 190,000 pounds (estimated) of polystyrene foam per year in Europe.
• Advanced renewable electricity procurement programs in North America and Europe.
• Added electric and hybrid vehicles to our global company-owned fleet.

Social Achievements

• Hired a new Head of Diversity, Equity, and Inclusion.
• Completed a 2022 pay equity assessment.
• Introduced expanded mental health benefits for all U.S. employees and their families.
• Logged nearly 14,000 employee volunteer hours.

Governance Achievements

• Developed an ESG framework.
• Procured and initiated implementation of an ESG data management software solution.
• Adopted a Global Policy on Corporate Social Initiative Support and Community Engagement.
• Adopted a new stand-alone Conflicts of Interest policy.

Climate Goals & Targets

Environmental Challenges

• Increased frequency and severity of extreme weather events impacting suppliers, manufacturing, logistics, and customers.
• Risk of scarcity of raw materials.
• Risk of stakeholder scrutiny of climate-related issues.
• Risk of new carbon pricing regulations.

Mitigation Strategies

• Improving visibility into its upstream supply chain and plans to expand supplier engagement.
• Factoring potential weather-related disruptions into inventory and manufacturing planning.
• Incorporating sustainable design concepts and requirements into new product development.
• Investing heavily in instrument repair and upgradability.

Supply Chain Management

Supplier Audits: Regular audits conducted with Tier 1 suppliers to verify their control systems meet IDEXX requirements.

Responsible Procurement

• IDEXX Supplier Code of Conduct
• Supplier Resource Center

Climate-Related Risks & Opportunities

Physical Risks

• Increased frequency and severity of extreme weather events

Transition Risks

• New carbon pricing regulations
• Stakeholder scrutiny of climate-related issues

Opportunities

• Resource efficiency
• New and expanded diagnostic markets
• Incorporation of eco-design and circular economy
• Development of resource-efficient products

Reporting Standards

Frameworks Used: SASB, TCFD, UN SDGs

Certifications: ISO 9001, ISO 14001, ISO 17025

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

The report mentions alignment with ten UN SDGs but doesn't specify which ones.

Sustainable Products & Innovation

• New analyzers made using fewer parts and weighing less than their predecessors
• Multi-testing innovations

Awards & Recognition

• American Heart Association 2022 Gold Workplace Health Achievement Index
• Business Group on Health 2022 Best Employers: Excellence in Health and Well-being
• Business Group on Health 2022 Best Employers: Excellence in Mental Health

Environmental Metrics

ESG Focus Areas

• Climate Change
• Diversity & Inclusion
• Corporate Responsibility

Environmental Achievements

• Signed a virtual power purchase agreement in January 2024 to add new, clean electricity to the energy grid, and which we expect will substantially contribute to our renewable electricity sourcing and greenhouse gas emission reduction goals when it begins to supply electricity to the grid.
• Reduced our reliance on air-freight by shifting from next-day to two-day shipping for all North America customers.
• Began to transition our global, company-owned vehicle fleet to electric and hybrid vehicles and conducted energy efficiency audits at some of our largest facilities.

Social Achievements

• Reduced the voluntary attrition rate of all employees, maintained high engagement levels of staff across the globe and achieved best-in-class employee net promoter scores.
• Increased the percentage of women in senior leadership roles to 37% as of December 31, 2023.
• Increased the proportion of employees in U.S. management who voluntarily self-identify as belonging to an underrepresented group by approximately two percentage points.
• Supported achieving over 18,000 logged employee volunteer hours in 2023, exceeding our 2025 goal of 15,000 annual volunteer hours.

Governance Achievements

• Implemented a data management software solution to support the efficiency and governance of the collection of environmental, social and governance data for voluntary and mandatory reporting purposes.
• Elected and onboarded our eighth new independent Director since 2013 through our robust Board refreshment and Director nominee selection process aligned with our long-term, strategic needs.

Climate Goals & Targets

Environmental Challenges

• Sustained pullback in veterinary clinic capacity levels, following a period of record high demand in 2020 to 2021
• Challenging macro environment, including inflation, increased interest rates and geopolitical instability

Mitigation Strategies

• Published Finding the Time: Empowering Veterinary Teams to Get the Most Out of Every Day, which introduces the veterinary Practice Productivity IndexTM, a data-driven framework and collection of guides to help practices increase productivity and create additional capacity, while maintaining quality of care and supporting happier, healthier veterinary teams.
• Delivered productivity savings of more than $15 million across our global operations without compromising the customer experience.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: SASB, TCFD