Building abrighter
future2022 Corporate Social
Responsibility ReportContents
About this report3Colleagues

29

Letter from our CEO

4

Diversity and inclusion

31

Talent management

34

Highlights

5

Benefits and well-being

38

Our Company

6

Communities

40

Our Mission in action

6

STEM education42

Our values

7

Colleague involvement45

Our brands

8

Global health equity

46

Our performance

9

Innovation

10

Environment

47

Climate50

Our CSR commitment

12

Nature53

CSR strategy

12

Design for Sustainability

55

Corporate governance13

Stakeholder engagement

15

Endnotes

58

Materiality assessment

16

Awards61

Ethics17

Data privacy

20

Data summary

62

Cybersecurity

21

Appendices67

Operations

22

Quality

23

Environmental, health and safety

25

Responsible sourcing

262022 Corporate Social Responsibility Report

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2

Our Mission is to enable our customers to makethe world healthier, cleaner and safer.

About this report
Our Corporate Social Responsibility (CSR) report reflects
our commitment to society and all our stakeholders
and details our progress on relevant environmental,social and governance (ESG) priorities. The programs,
achievements and performance covered in this reportare presented in line with our CSR strategy, which is
focused on four key pillars: Operations, Colleagues,
Communities and Environment. Topics that arefoundational to all four pillars are introduced in the
Our CSR commitment section. They include corporate
governance, ethics, data privacy and cybersecurity.
This publication covers the reporting period fromJanuary 1 to December 31, 2022, and, unless otherwise
noted, includes data for our clinical research business,
which was acquired as PPD, Inc. on December 8, 2021.

2022 Corporate Social Responsibility Report

We are committed to the continuous improvement of ourreporting and disclosures to increase visibility into ourefforts. To that end, we proactively gather feedback fromour stakeholders to inform our approach. Our reportingis further guided by internationally recognized standards
and frameworks, including the Global Reporting
Initiative (GRI) Standards (2021), the International
Financial Reporting Standards (IFRS) Foundation’s
SASB Standards for Medical Equipment and Devices,
the Task Force on Climate-Related Financial Disclosures(TCFD) and the United Nations Sustainable Development
Goals (SDGs). See Appendices 1 through 5 for more
information.
As a member of the United Nations Global Compact(UNGC), Thermo Fisher Scientific remains committed tothermofisher.com/csr

aligning our Company strategy with the Ten Principles
on human rights, labor, environment and anti-corruption.
This report provides insight into our progress, including
our approach to relevant topics such as human rights,
pay equity and design for sustainability.
For select environmental performance indicators, Bureau
Veritas has provided independent external assurance.
Assured data is clearly marked in the Data summary anda copy of the assurance statement is available here withdetails on the assurance scope, standards used, work
undertaken and conclusions.
For questions or comments regarding this reportor our CSR approach, please contact us at
sustainability@thermofisher.com.

3

Letter from our CEO
Thermo Fisher was built to serve society, and our businessis grounded in a simple but very profound Mission—to
enable our customers to make the world healthier, cleaner
and safer. We understand the important role we playin improving lives worldwide as we help our customers
diagnose disease, develop new treatments, protect
our planet and keep people safe. This defines us as a
Company and inspires our 125,000 colleagues to bring
their best every day.
As a Mission-driven Company, we also know that our rolein making the world a better place goes beyond enabling
our customers’ success. Our responsibility extends tosupporting our communities, being a good steward of
our planet, creating a great work environment for ourcolleagues and always doing business the right way.
I’m very proud of the way we delivered on these
responsibilities in 2022, and I’m grateful to our
extraordinary global team for making it possible.
To support our colleagues in reaching their full potential
and achieving their career aspirations, we continue tocreate a vibrant and inclusive environment where uniquebackgrounds and perspectives are embraced. Our team’s
diversity of thought spurred remarkable innovation in 2022,
generating an exciting pipeline of new products that will
be launched in the years ahead and lead to improvements
across our Company. We are committed to diversity andinclusion because it’s the right thing to do and it makes us
stronger.
Our colleagues also demonstrate a deep commitment toserving others, both on the job and in their communities,
and I’m continually inspired by their compassion andenthusiasm for making a difference. Through theirinvolvement and the leadership of our Community Action
Councils (CACs), our team collectively volunteered morethan 120,000 hours. As part of this activity, our CACs
leveraged our Foundation for Science to support morethan 4,000 Mission-aligned nonprofit organizations aroundthe world.

2022 Corporate Social Responsibility Report

Through corporate initiatives, we launched new signature
partnerships to advance our commitment to science,technology, engineering and math (STEM) education
access and equity. For example, through a partnershipwith Society for Science, we became the title sponsor of
the Thermo Fisher Scientific Junior Innovators Challenge,
the premier middle school STEM competition in the UnitedStates, which will reach over 65,000 students annually.
This year brought its share of crises in the world, and as
always, there was an immediate outpouring of generosity
across the Company. Thanks to colleague contributions
and our Company matching gift program, we collectively
donated nearly $6 million to critical causes globally,
including humanitarian aid for the crisis in Ukraine. We also
reinvested in our global team with supportive initiatives
such as special payments to help offset the impact ofinflation and a new employee assistance program (EAP)
focused on mental health.

US sites will operate on 100% renewable electricity, thanks
to power purchasing agreements finalized in the past year.
We accomplished a lot in 2022 and none of it would bepossible without the passion and commitment of ourincredible global team. We are proud to be on this journey
together, striving to be an even stronger partner for our
stakeholders, making an even greater impact for society,and fostering a workplace where all colleagues can pursue
long-term, Mission-driven careers.
I encourage you to read more about our contributionsin this report. It provides a glimpse into the many ways
we are building a brighter future for our customers, ourcolleagues, our communities—and the world at large.

Marc N. Casper

Chairman, President and CEO

I’m also proud of our continued progress to advanceour environmental sustainability roadmap. Since 2018,
we’ve reduced greenhouse gas emissions from ouroperations by 25%, and in 2022 we increased our goal,committing to a 50% reduction in Scope 1 and Scope 2
emissions by 2030.
Our new Scope 1 and 2 target as well as our Scope 3 andnet-zero goals have been approved by the Science Based
Targets initiative (SBTi), an independent organization thatdrives climate action in the private sector. This makes
Thermo Fisher one of the first companies in our industry tohave a net-zero target validated by the SBTi.
As we move ahead, we are building greener facilities andmaking changes to existing sites to reduce the use offossil fuels. Our colleagues are taking an active role on thisjourney—contributing innovative ideas and participatingin efforts to accelerate our path forward. As of the writingof this letter, more than 150 of our sites are now fully
powered by renewable energy, and by 2026 all our current

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4

Highlights

$1.5B

#6

in R&D investmentin the 2022
Return on Leadership™
ROL100™ ranking

Thermo Fisher Scientific
Junior Innovators Challenge
launched to reach 65,000 students annually500

Net-zeroemissionsby 2050

alumni hired from historically Black
colleges and universities since 2020,
already surpassing our 2023 goal

$2B

51%

in spend with small anddiverse suppliersof global leadershiproles filled internally41

Accelerating our ambition

Pay equity

sites with ISO 14001
environmental management
system certification

25%

study conducted to measure
and advance our diversity
and inclusion progress

93%

with an updated 2030 target of reducing
our Scope 1 and 21 emissions by 50%

reduction in absolute
Scope 1 and 2 emissions
since 2018 2

89.5K

of sites adhering to current
Good Manufacturing Practices
and/or certified to ISO 9001,
ISO 13485 standards

students reachedthrough STEM education

HIV drug
resistance testing
made accessible in 25 low- andmiddle-income countries
2022 Corporate Social Responsibility Reportwith near- and long-termtargets validated by the
Science Based Targets initiative

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120K
volunteer hours
by colleagues

5Our Company
Thermo Fisher Scientific, Inc. is the world leader in serving science. Our Mission is to enable our customers to make theworld healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analyticalchallenges, 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.

Our Mission in action
We fulfill our Mission in countless ways, making a difference in the world through the work we do. Here are just a few
examples from 2022 that remind us of that greater purpose and inspire us every day.

Healthier

CleanerSafer• H elped improve health and save lives by working withnational and international organizations, like Donate
Life America, to advance transplant diagnostics andincrease access to organs for patients in need• S upported researchers around the world, like thoseat the Université Grenoble Alpes in France, who
are advancing climate research through the Ice
Memory project• H elped to make the world safer by providing
technologies to monitor the quality of water aroundthe world, including in war-ravaged areas of Ukraine• E quipped blood banking centers across India toprotect blood supplies• E nabled automakers like Toyota in Japan to improvethe efficiency of electric vehicles and advance thetransition to a low-carbon economy• Launched a new electron microscope to help ourcustomers accelerate drug discovery for debilitating
disorders such as Alzheimer’s, Parkinson’s andHuntington’s diseases• H elped scientists study microplastic pollution andbetter understand the impact of these contaminantson the environment and human health• E quipped law enforcement and first responders withhandheld narcotics analyzers to protect them from
accidental exposure to dangerous street drugs• P rovided food safety testing laboratories withsolutions for detecting the presence of pesticides
in food products

6

Feature story

Our values
Our 4i Values of Integrity, Intensity, Innovation and Involvement are the foundation of our culture and fundamental to
our growth. They guide our interactions with our customers, suppliers, partners, communities and with each other,
upholding our commitment to do business the right way as we build a brighter future for our Company and our world.

Values spotlight
Innovating for a moresustainable future
As one of our 4i Values, Innovation is at the coreof how we build a brighter, more sustainable
future. Our colleagues put this value into
practice every day, including through our efforts
to achieve net-zero emissions by 2050.

Integrity

Intensity

Honor commitments,
communicate openly anddemonstrate the highest
ethical standards

Be determined to deliver
results with speed, excellence
and a passion to succeed

By rethinking foam packaging that’s traditionallyused for cold transport, we designed areadily recyclable 100% paper cooler. We use
this greener solution for shipping our own
products and share it with our customers fortheir use. Learn how one of our customers isadvancing sustainable agriculture and reducing
plastic waste by using the paper cooler for
temperature-sensitive shipments:
Innovating for a greener futurePlay video on YouTube

Innovation

Involvement

Create value by transforming
knowledge and ideas into
differentiated products andservices for our customers

Make connections to work as
one global team, embracing
unique perspectives and treatingothers with dignity and respect

2022 Corporate Social Responsibility Report

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7

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

Analytical precisionand diagnostics
excellence

Inspiring meaningful
genetic analysis

Accelerating
discovery researchOne-stop access forscientific products

Instrument andenterprise services

Pharma services

Drug development
and clinical trials

Our integration of PPD
At Thermo Fisher, we have a history of successfullyacquiring innovative businesses to strengthen
our customer offering and create value for all our
stakeholders. We take a thoughtful approach tointegration to bring the best of both organizations
together and support a smooth transition for all.
In 2022, we integrated PPD, which we acquired in
2021, adding clinical research services to our portfolio.
By enabling our pharma and biotech customers toaccelerate innovation and increase productivity within
the drug development process, we can help them
reduce the time and cost of bringing life-changing
medicines to patients who need them.
Our approach to integration always starts with people.
Based on our accumulated experiences, we havean integration playbook that sets forth our guiding

2022 Corporate Social Responsibility Reportprinciples: engage our new colleagues in the successof the combined companies, treat people fairly and withrespect, and minimize distractions so colleagues canfocus on their critical work and serve our customers.
For us, mergers and acquisitions (M&A) do not end at
integration—we continue to invest in new businesses
to drive growth, advance innovation, and create career
opportunities to develop and retain our talented
colleagues. Less than one year after acquiring PPD,
we opened a new state-of-the-art bioanalytical lab inRichmond, Virginia, to support the increasing demandfor consistent, high-quality laboratory services that will
accelerate drug development. This facility expands ourclinical research operations in the city to 350,000 square
feet, making it one of the largest laboratories of its kindin the world. And over the coming three years, we willcontinue to invest in the local economy, adding at least

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500 new jobs to the team of 1,200 clinical researchcolleagues we currently employ in Richmond.
Our comprehensive integration approach, like all otheraspects of how we run our business, is powered by ourPractical Process Improvement (PPI) Business System,a deeply ingrained philosophy of operational excellence
and continuous improvement. We regularly assess how
acquired businesses are performing in terms of value
creation, accelerated revenue and cost synergies, andcolleague sentiment and engagement. These reviews
are conducted over the short and long term, allowing us
to leverage key insights that further refine our integration
playbook and strengthen our approach and results for
future M&A transactions.

8Our performance
We measure our success in several ways—not only by our financial results, but also by being the strongest partner for our customers, providing an excellent
work experience for our colleagues, creating sustainable value for our stakeholders and making a positive impact on society. By all these measures, 2022
was another exceptional year for Thermo Fisher. Read more about our financial performance in our latest Annual Report on Form 10-K.

Revenue
2022

Complementary segments$44.92B

10%

Specialty diagnostics

14%

2021

47%

Analytical instruments

2020

$44.92B
Revenue

2019
2018

Laboratory products& biopharma services

29%$24.36B

Life sciences solutions

Focused execution

2022 Corporate Social Responsibility Report

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2030
VisionSets our aspirations for the decade ahead
Rolling 5-year plan to achieve our Vision

Ou
rM
iss
ion

Our Mission is our purpose: to enable our customers to makethe world healthier, cleaner and safer. Our teams around theworld strive to achieve this Mission every day, and our actions
ultimately create an even brighter future for Thermo Fisher andall our stakeholders. Our formula for success starts with ouraspirations for the decade ahead. To achieve our 2030 Vision,
focused execution is key. We set a rolling five-year strategicplan that we deliver on through our annual Goal Tree, which
represents our priorities for the year. Our work is powered by
our PPI Business System, 4i Values and the management of
our environmental, social and governance (ESG) priorities.
We continue to build on our Mission-driven culture throughthe exceptional talent we attract and develop.

4i Values

Company strategy: Enterprise-level initiatives
and capital allocation decisions

5-yearstrategy

Business strategy: Medium/long-term decision making
and priorities for our businesses

Annual Goal Tree

Annual goals and metrics: Translates strategies
to annual commitments

Daily work alignedwith our priorities

Activities: Near-term prioritization and implementation cadence

PPI Business System
TalentESG

Enablers: Drive colleague engagement and delivery of results

9Innovation
At Thermo Fisher, our focus on high-impact innovation
enables our customers to address some of the world’s
greatest challenges. As we deliver new technologies
and services, we help our customers break new groundin their important work. This includes helping themaccelerate research so that they can bring life-changing
therapies to patients. Today, with rapid advancements
in science and technology, there has never been morehope for tackling diseases that were once difficult or
impossible to treat. Thermo Fisher is proud to be part ofthis evolution that will greatly benefit society.

Helping doctors identify the best treatment
In the fight against cancer, the tide is turning because
there are many promising new therapies emerging
based on the genetic makeup of a person’s specificcancer type. Determining the best treatment for a patient
based on their individual cancer can make a significant
difference in the outcome for that patient. That’s why
the development of companion diagnostics with pharma
and biotech partners is so groundbreaking—and used
increasingly in oncology to provide a personalized
approach to treatment.
In the past, treatment selection has often been based onclinical best practices for first-line treatment. A doctor
might have to try numerous treatment options, withvarying efficacy, for their patient and sometimes theanswer comes too late.
But today, with advancements in genomic testing
technology, an individual’s cancer can be analyzed at
the molecular level so the patient can be matched tothe best treatment option right away. That’s the promiseof precision medicine and that’s where our companion
diagnostics come in.

2022 Corporate Social Responsibility Report

Our partnership with AstraZeneca will help bring targeted
oncology treatments to more patients in need of new care
options. By leveraging the Genexus Dx System’s unprecedented
turnaround time, we can help make molecular testing results
more readily available to inform vital treatment decisions and getpatients on the right treatment, right away.
— Garret Hampton
President of Clinical Next-Generation Sequencing and Oncology at Thermo Fisher ScientificCompanion diagnostics provide information thatis essential for the safe and effective use of acorresponding drug or biological product. They help
healthcare professionals determine whether a particulartherapeutic may yield a better outcome for an individual
patient based on their cancer’s genomic profile, andthey can even help doctors match patients to targeted
therapies that are sometimes still in clinical trials.
In one example, Thermo Fisher is expanding on its
ongoing collaboration with AstraZeneca to develop asolid tissue and blood-based companion diagnostic
test that seeks to identify patients with non-small celllung cancer who may be eligible for treatment withTAGRISSO™ tablets (osimertinib). The collaboration willleverage our Ion Torrent™ Oncomine™ Dx Express Test
and our Ion Torrent™ Genexus™ Dx System 3 to identify
tumors that exhibit specific mutations that are indicators
for treatment with TAGRISSO.

advanced and has spread to other parts of the body.
For most of these patients, conventional therapies don’t
always have the desired efficacy. Finding an appropriate
targeted therapy can be critical, but sequencing results
have historically taken weeks. Together, the Ion Torrent
Oncomine Dx Express Test and Ion Torrent Genexus Dx
System can provide a fully integrated, next-generation
sequencing solution that delivers results in as little as
24 hours.

Time is of the essence for patients with non-small
cell lung cancer, which is often not detected until it isthermofisher.com/csr

10

As a global leader in higher education, collaborative researchand pioneering innovation, UC San Diego has a deeply
embedded culture of advancing scientific discovery to improve
the human condition and the planet. Our partnership with
Thermo Fisher will enhance existing pathways to develop novel
technologies, reduce our carbon footprint and train a morediverse and equitable future workforce.
— Pradeep K. Khosla
Chancellor at the University of California San Diego

Accelerating research, innovation and equity
In 2022, Thermo Fisher and the University of California(UC) San Diego launched a strategic partnership thatwill have a positive impact on society. The 10-year
relationship is the first of its kind in the life sciences
space for both Thermo Fisher and the university, andfocuses on four key objectives:• Establishing a “Technology Sandbox”• Collaborating on research• Creating a pipeline of diverse talent• Developing more sustainable operations
The Technology Sandbox is a state-of-the-art facility
being developed at UC San Diego to expand access to
cutting-edge technologies and expertise and acceleratecollaboration, discovery and workforce development. It
will serve both students and alumni and is designed todrive innovation in emerging areas of science.

2022 Corporate Social Responsibility Report

Thermo Fisher is providing the instruments for
the Technology Sandbox, including cryo-electron
microscopy, mass spectrometry and genetic and cell
analysis instruments, as well as providing financial
support for instrument training. In turn, students andresearchers at the university will provide feedback andinsights as they use these instruments, which will help us
continue to improve our products and further advancetechnological innovation to better serve our customers.
As part of the relationship, we will provide support forvarious research initiatives and collaborate with UC
San Diego on STEM (science, technology, engineeringand math) and community outreach programs andcareer mentorship. This includes continuing an internshipprogram that began in 2021 to build a pipeline of diverse
talent for both the Company and the university. Heldat our Carlsbad, California site, the six-month program
offers UC San Diego students an immersive, hands-on
work experience using our technologies. Students

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gain skills in advanced research methods and appliedscientific techniques. The program includes structured
mentoring and professional development opportunities,
preparing students to become the scientists
of tomorrow.
In addition, both organizations are working together toadvance their mutual sustainability goals—especiallyin developing a more sustainable supply chain forresearch supplies. One example is a pilot program
already launched at the university, which leverages
the Thermo Scientific™ ART™ Pipette Tips recycling
program. Through this program, pipette tips, boxes
and associated plastic packaging are recycled rather
than entering the waste stream. With the successful
completion of this pilot program, Thermo Fisher and
UC San Diego are now developing a process to expand
the recycling program campus wide and explore
other sustainable end-of-life solutions for single-use
lab plastics.
11

Our CSR commitment
Operations

Colleagues

Communities

Environment

Leveraging ourcapabilities to support
our customers while
conducting our business andrelationships with integrity

Providing resourcesand embracing uniqueperspectives to reach our fullpotential as one global team

Making a difference
worldwide with anemphasis on promoting
STEM education andglobal health equity

Innovating to serve
our customers whileadvancing our net-zeroroadmap by 2050

CSR strategy
As the world leader in serving science, we understandthat we have a unique opportunity and responsibility touse our position to make a positive impact on society—not only by enabling our customers’ success, but also
through our actions as a Company to make the world
a better place. Our CSR approach is focused on four
key pillars—Operations, Colleagues, Communities
and Environment. This strategic framework allows us
to effectively manage the environmental, social andgovernance (ESG) priorities that are fundamental to ourbusiness, driving competitive differentiation, and creating
sustainable value for all our stakeholders.
Our CSR strategy supports our long-term successas we continue to create a great place to work forour colleagues, provide high-quality products for ourcustomers, deliver strong returns for our shareholders,make a difference in our communities and reduce our
impact on the environment.

2022 Corporate Social Responsibility Report

Reporting
We are committed to transparent CSR reporting to foster
stakeholder understanding of our priorities and results.
To advance our CSR approach and disclosures, weconsider internationally recognized reporting standards
and reference frameworks.
Since 2019, Thermo Fisher has been a signatory to the
UN Global Compact, which supports companies intheir alignment with the Ten Principles on human rights,
labor, environment and anti-corruption. Through ourvoluntary participation in this community of practice,
we continuously improve the way we manage ESG
risks and impacts, advance our contributions to the
UN Sustainable Development Goals (SDGs), and reporton our progress annually.
We also participate in trusted sustainability ratingassessments that are relevant to our business andhelp further validate our progress over time. Those ofparticular interest to our stakeholders, especially ourcustomers, are the CDP4 and EcoVadis™5 ratings.

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We have participated in CDP for morethan 10 years and, in 2022, wererecognized for the acceleration of our climate
program. Our climate change disclosure received a“B” score or “management” rating, indicating that weare taking coordinated action on climate issues.
Additionally, we received an “A-” score for supplierengagement, which places us on CDP’s leaderboard.
	Thermo Fisher has been active with
EcoVadis for 10 years, participating inan evidence-based rating system
across four themes: environment,labor and human rights, ethics, andsustainable procurement. In 2022, the results of ourassessment earned us a silver medal and placed us
in the 83rd percentile of all companies
assessed globally.

For more information on the standards and frameworks
that guide our work and a list of the awards andrecognitions we proudly received during 2022, see theAwards section and Appendices 1 through 5.
12

Corporate governanceMarc N. Casper
Chairman, President
and CEO

Scott M. Sperling
Lead Independent Director

Nelson J. Chai
Chair, Audit Committee

Ruby R. Chandy
Director

C. Martin Harris, MD
Director

Tyler Jacks, PhD
Chair, Science andTechnology Committee

R. Alexandra (Alex) Keith
Director

Jim P. Manzi
Director

James C. Mullen
Director

Lars R. Sørensen
Chair, Nominating andCorporate GovernanceCommittee

Deborah Spar
Chair, Strategy and
Finance Committee

Dion J. Weisler
Chair, Compensation
Committee

Building a bright future for Thermo Fisher and all our
stakeholders begins with an intense focus on corporate
governance and strong oversight of our global activities.
We are guided by our 4i Values and rigorous ethicalstandards, taking accountability in all we do to enable
our customers’ success while maintaining the long-term
health of our business.

Company oversight
Our Board of Directors is elected by our shareholders
to oversee their interests in the long-term successof the Company. The Nominating and Corporate
2022 Corporate Social Responsibility Report

Governance Committee seeks to develop a Board that,as a whole, reflects diverse viewpoints, backgrounds,
skills, experiences and expertise by considering
attributes such as race, gender, ethnicity, age, culture
and nationality. The Committee also regularly reviews
the desired skills, experiences and backgrounds thatshould be represented on the Board to align with theCompany’s strategic vision, business and operations.
Throughout the year, our Board and its committees
oversee operations and Company strategy, which for2022 focused on navigating a dynamic macroeconomic
and geopolitical environment, while accelerating thethermofisher.com/csr

Company’s growth strategy to realize our 2030 Vision.
Our Board meetings include regular sessions withbusiness leaders and executives across key corporate
functions, including finance, tax, information technology,
cybersecurity, risk and human resources, through which
the Board remains informed on the implementationof operational goals, performance and strategies. At
regular meetings, the Board also considers drivers ofour business execution along with key risks, challenges
and opportunities and considers how they relate to theeffectiveness of our Company strategy.

13

CSR oversight and management

CSR is foundational to our Company strategy,
and our CSR performance is driven by strong
leadership that advances our commitments,
priorities and cross-functional collaboration to
manage ESG risks and opportunities through ourdaily operations and practices.
At Thermo Fisher, we view CSR as everyone’s
responsibility, and it is deeply embedded in ouroperating model.

2022 Corporate Social Responsibility Report

Board of Directors

Oversees strategic, financial, and execution risks and exposures associated with
our operations and strategy.

Nominating and Corporate
Governance Committee

Oversees corporate governance, priorities, risks and external reporting related
to CSR matters, and political spending strategy.

Compensation Committee

Oversees risks related to compensation practices, pay for performance(including non-financial ESG strategic targets), and talent management andsuccession planning of executive officers.

Audit Committee

Oversees financial reporting, systems and internal controls, cybersecurity,
regulatory, compliance and litigation risks, and SEC reporting related to CSR
matters.

Science and Technology
Committee

Advises the Board on new and emerging innovations, markets and applicationsof Company products, and receives updates on matters involving bioethics andthe use of our technologies.

Key CSR focus areas

The Board oversees our CSR strategy and key
initiatives as an integrated part of the Company’s
overall strategy and risk management. Certain
matters related to CSR are delegated for discussion
at the committee level, while other mattersspan multiple functional categories and areas ofoversight and are discussed at the full Board level.
This focus is reflected in the Company’s Corporate
Governance Guidelines and committee charters,
which the Board recently revised to more expressly
highlight its role in the oversight of CSR, including
climate change-related matters.

Management
Chairman, president
and CEO

Leads the Company leadership team, approves CSR strategy and commitments, andmonitors Company-wide progress on the management of ESG priorities.

Company leadership teamShares ownership and accountability for delivering on our CSR strategy and presents
our ESG priorities, progress and annual global enterprise risk management program to
the Board.

Steering Committee

Oversees CSR implementation and includes our chairman, president and CEO, as wellas key executives with responsibility for functions, businesses and programs criticalto advancing our social and environmental commitments, targets and roadmaps. The
committee conducts a formal program review at least twice annually.

Core teams

Shape and execute winning strategies for their specific areas of specialization, directing
progress throughout the Company so we can achieve our CSR priorities in the mostimpactful way.

Network of practitioners

Is a community of subject matter experts that amplify our CSR progress by cascading
priorities and messages to drive focus, change and results.

Global businesses andcolleagues

Leverage our Practical Process Improvement (PPI) Business System to find a betterway every day, contribute innovative ideas and implement initiatives that deliver on our
CSR commitments.

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14

Stakeholder engagement
We are committed to creating sustainable value for all our stakeholders. Our robust stakeholder
engagement program includes proactive outreach on a regular basis throughout the year tohelp us understand our stakeholders’ evolving interests and expectations as we build strong
relationships and mutual understanding of the issues most relevant to the Company’s success.
These interactions are invaluable and stakeholder input informs our CSR strategy, which isactively refreshed to identify opportunities to create value and minimize risk. The following is
a list of key stakeholders with examples of our recurring interactions during 2022.
Stakeholders

2022 interaction examples6

Customers

Executive steering committees, subject-specific steering committees,
quarterly business reviews, sustainability surveys, EcoVadis assessment
and scorecard, supplier days, trade associations and industry groups,
trade shows, tendering processes, sales calls and product demonstrations,virtual and in-person meetings, and group conference callsColleagues

Employee Involvement Survey (EIS), performance management anddevelopment process (PMD), Business Resource Groups (BRGs),
Community Action Councils (CACs), Company matching gift program,
Belonging Week campaign, quarterly town halls, internal newsletters,
intranet, internal announcements, and recruiting events

Communities

CACs, BRGs and colleague-led volunteering events, philanthropic support
though our Thermo Fisher Scientific Fund: The Foundation for Science,
impact investments through our sustainable finance strategy, Thermo Fisher
site visits, community project site visits, reduced access product pricing fornon-governmental organizations, product donations, humanitarian aid, virtualand in-person meetings, and conference calls

Shareholders,investors and ESG
rating agencies

Quarterly earnings calls, Annual Investor Day, Annual Meeting of Shareholders,
governance outreach, conferences, non-deal roadshows, perception surveys,
sustainability surveys, virtual and in-person meetings, and group conference calls

Governments andregulators

In-person meetings with national and regional leaders, hosting dignitaries
at our operations, submitting formal comments, virtual meetings, CSR
programming and events, policy briefings, and varied trade association
engagement (Board roles, subject-specific committees, members)

Suppliers andbusiness partners

EcoVadis assessment and scorecard, CDP supply chain engagement,sustainability trainings, supplier business reviews, supplier audits, mentoringsmall and diverse suppliers, executive meetings, virtual meetings, and groupconference calls

2022 Corporate Social Responsibility Report

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15

Materiality assessment7
In 2020, we reported the results of an in-depth
materiality assessment8. With the help of a third-party
consulting firm, we prioritized ESG issues based on
their importance to our business success and our
stakeholders, using direct stakeholder feedback toaddress the latter.
Our CSR approach includes regularly refreshing ourfull materiality assessment. Interim analyses allow us
to more actively monitor the dynamic global landscapefor real-time insights. In 2022, we initiated an interim
materiality assessment leveraging an intelligence solutionthat enabled a data-driven review of our ESG priorities,risks, impacts, materiality, and benchmarking.
The results of our 2022 assessment indicated that thesix ESG issues prioritized through our last materiality
assessment continue to be relevant topics for
Thermo Fisher. They include the following: innovation,
product safety and quality (Operations), diversity
and inclusion (Colleagues), talent management(Colleagues), community engagement and development(Communities), and climate change (Environment).
The analysis also uncovered early insights on evolving
markets, regulations, and societal and environmental
expectations—details that will inform our nextcomprehensive materiality assessment and help shape
the future direction of our CSR strategy, commitments
and impact.

2022 Corporate Social Responsibility Report

Sustainable finance
Thermo Fisher designed our Sustainable Financing
Framework to align our sustainability priorities with
our funding needs. Our framework is consistent with
the International Capital Markets Association (ICMA)
2021 Green Bond Principles and the 2021 Social Bond
Principles and is based on four core components: use ofproceeds, project evaluation and selection, managementof proceeds, and reporting. The net proceeds raised
from the sale of any sustainable financing instrument
issuances must align with our framework and be used tofinance and/or refinance, in whole or in part, one or moreeligible projects subject to ICMA’s principles.
On November 18, 2021, we issued a €550 million
sustainability bond in line with our Sustainable Financing
Framework. Throughout 2022, we fully allocated the net
proceeds of the sustainability bond to social projects,
specifically those eligible under the criteria for the
COVID-19 response category. Our Sustainability Bond
Report provides details on the allocation process andimpact of the investments.

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16

Feature story

EthicsOur 4i Values of Integrity, Intensity, Innovation andInvolvement are the foundation of our culture, guiding
our behaviors and our colleagues’ interactions with ourcustomers, suppliers and partners, communities, and witheach other. As the first of these values, Integrity reminds
our colleagues to honor commitments, communicate
openly and demonstrate the highest ethical standards.

Code of Conduct
Our values are represented in the Thermo Fisher Codeof Business Conduct and Ethics (the Code), which
defines our expectations for all colleagues to adhere tothese practices and comply with all applicable laws andregulations. The Code is translated into 21 languages
and covers a broad range of topics, including policies
related to conflicts of interest, honest and ethical fairdealing, bribery and improper payments, insider trading,export control awareness, human rights, privacy matters,
and sexual harassment.
Standalone policies governing these critical topics arealso in place to expand our colleagues’ understanding,set expectations and provide more detailed guidanceon topics such as anti-corruption & anti-money
laundering, antitrust, banking, environmental health &safety, human rights & equal employment opportunity,
export/import controls, global data privacy, records
management, and more.
All directors and colleagues are responsible for certifying
annually that they have reviewed and are following theCode. All colleagues undergo annual training on specific
Code elements to understand what is expected of them.

99%

Ethics and compliancetraining completion rate 92022 Corporate Social Responsibility Report

Reporting a concern
Everyone must do their part to honor our values andmaintain our high ethical standards. Our Global Ethics
Hotline is a confidential incident reporting systemmanaged through a third party. It is available tocolleagues, customers and other external stakeholders
to raise concerns related to any issue, observed orsuspected, including a violation of any law, regulation,
the Code, or Company policy as well as product, quality,
environmental or workplace concerns. Colleagues
also have the option to contact the Company’s Legal
department.
The hotline staff, together with members of our Legal
department, review and investigate reports and takeappropriate action. Escalation and resolution processes
differ depending on the type of issue raised. Any
concerns and complaints related to accounting or
auditing are also reported to the Audit Committee of
the Board.

Involving colleagues
in complianceTo build on robust policies and training, we work toincrease our colleagues’ focus on the importanceof compliance during our annual Complianceand Ethics Week. In 2022, a wide range of topics
were covered, including data privacy, healthcarecompliance, government contracts, anti-bribery
and anti-corruption, and global trade compliance.
The learning experience included live events at
more than 40 sites across the globe with thousandsof colleagues participating in town hall sessions,question and answer meetings, and interactive
games to reinforce their commitment to integrity andcompliance.

We are deeply committed to doing business the right
way and strive to provide an environment in whichcolleagues and other stakeholders feel encouraged toraise issues so we can work to resolve them. Throughour annual Employee Involvement Survey, we regularly
evaluate how empowered our colleagues feel to reportconcerns, which provides valuable insights that we use
to continue cultivating a supportive and transparent
reporting culture.
Our Global Ethics Hotline allows reports to be madeanonymously, and the Company will not discipline,
discriminate or retaliate against any colleague whoreports a complaint or concern in good faith. For more
information on how colleagues are encouraged to andprotected when they report issues, please refer to our
CSR webpage.

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17

Human rights
We are committed to upholding and respecting humanrights for all. Building a brighter future means managing
our global operations ethically and with integrity topositively impact the people and communities linked toour business.

Guiding principles
Thermo Fisher is able to support human rights for all
people by conducting business with the highest ethicalstandards and in compliance with applicable laws andCompany policy. We are guided by principles set forth inour Human Rights and Equal Opportunity Policy, which
was updated in 2022 and establishes our standards forbusiness conduct related to respecting human rights
and fair labor practices across our global operation.
This policy helps us implement our commitment tohuman rights in alignment with leading international
standards, including the UN Universal Declaration of
Human Rights and the International Labour Organization(ILO) Declaration on Fundamental Principles and Rights
at Work. As signatories to the UN Global Compact,
we are also committed to aligning our corporate
strategy with the Ten Principles on human rights, labor,
environment and anti-corruption. When differences
arise between our standards and legal requirements, we
generally apply the stricter standard in compliance withapplicable laws.

Engaging our stakeholders
Through our human rights management approach,
we engage transparently and collaboratively with our
stakeholders to drive the effectiveness of our program.
• Colleagues: Our Code of Business Conduct andEthics outlines the expectations for all directors,
officers and colleagues of the Company, including
compliance with all internal policies such as those
governing human rights. Annual certification ofcompliance with this code is required and biannual
training enhances our colleagues’ knowledge ofhuman rights within the context of our businessand their role in respecting them. Our procurement
colleagues receive additional training on the
expectations of our supplier responsibility programs,
including those related to labor and human rights forour suppliers.
• Suppliers: Our Supplier Code of Conduct shares
our compliance expectations for suppliers and theirsubcontractors in the areas of ethics, labor, healthand safety, environment, and management systems.
It is integrated into supply agreements and terms andconditions, and suppliers are expected to share theirperformance against code expectations at the requestof Thermo Fisher. Suppliers must have a training
program to educate their workforce to address the
expectations outlined in this code and are required toparticipate in Thermo Fisher trainings, as applicable.
• Customers and distribution partners: We provide
training, education and resources to help customers,
resellers and distributors use our instruments andproducts as designed and to follow global scientificand ethical standards for the responsible selling, or
reselling, of our technologies. Should we be alerted
to any ethical question or concern in relation to how
customers may be using our technologies, the matter
is immediately escalated to our Bioethics Committee.
• Policymakers and influencers: We engage withgovernments, regulators and non-governmentalorganizations to contribute to good global policy,
such as the responsible application of technology andappropriate security protocols and procedures for
safeguarding individual privacy rights.
 ctive engagement and feedback from our partners
A
support the continuous improvement of our approach.
If, at any time, a stakeholder has a human rights
concern, they have the option to contact our Global
Ethics Hotline and can submit a report anonymously
if desired. Learn more about our hotline in theprevious section.

Continuous improvement
With the rapid evolution of technology, society’s needs
and stakeholder expectations, we continue to strengthen
our policies and business processes for identifying,assessing and managing human rights risks. Throughthe Company policies outlined above, our human rights
principles, standards and practices are incorporated into a
broader suite of policies, which reinforce one another andare provided in up to 14 languages. We conduct periodic
internal reviews of our systems and controls, participate
in human rights peer networks for best practice sharing,and comply with the reporting requirements of laws suchas the United Kingdom Modern Slavery Act and AustralianModern Slavery Act. These engagements and disclosuresenhance the transparency with which we honor ourcommitment to uphold and respect human rights.

18

In addition, our longstanding participation in an
independent sustainability assessment by EcoVadis
supports us in identifying opportunities to evaluate
and address risks related to labor and human rights
within our operation and supply chain. As we make
improvements, we also provide our customers withvisibility to our performance scorecard through the
EcoVadis platform so they can understand and monitor
our progress over time.

Bioethics
As science advances at an unprecedented pace, we
continuously focus on the ethical and social issues
that relate to our role in biotechnology and biomedical

research. We value the importance of identifying,assessing, tracking, managing and overseeing bioethics
matters, policies and practices.
Our procedures reflect careful consideration throughout
our research, development, manufacturing and sales
and distribution processes to prioritize the safety andefficacy of our products. We strive to operate in a waythat is consistent with global best practices and ethicalprinciples, including our Code of Business Conduct
and Ethics; the appropriate local, national, regional andinternational governing bodies; and standards found inguidelines for Good Laboratory Practices (GLP), Helsinki
International Ethical Guidelines for Biomedical Research
Involving Human Subjects and applicable privacy anddata protection standards.

Bioethics committee
Our bioethics framework is monitored and managed
by the Thermo Fisher Bioethics Committee, which
is dedicated to the socially responsible use of
biotechnology to save or improve lives.
The Bioethics Committee is a cross-functional team ofsenior leaders who report regularly to the chairman,
president and CEO. Committee members include our
executive vice president, chief medical officer, chief
scientific officer, and leaders representing our life
sciences, clinical research and diagnostics businesses,
as well as legal and communications functions.
The committee works to ensure we satisfy transparent,
compliant and ethical business practices and standards
with unyielding integrity throughout our global
operations. This includes defining and articulating ourcorporate policy and position on current and emerging
bioethics topics; considering feedback from colleagues,
key opinion leaders in the scientific community,
customers and other key stakeholders on our corporate
policies on bioethical issues; and reviewing existingbioethics policies on an ongoing basis, including
providing updates to the Science and Technology
Committee of the Board.
If we receive an ethical question or concern regarding
how customers may be using our technologies,
the Bioethics Committee is immediately engaged.
Following an investigation, the committee determines
the course of actions to follow in accordance with ourvalues, codes and policies. Examples of past remedialactions have included ceasing the sale of a productto certain customers, engaging with law enforcement
and regulatory authorities, and implementing enhanced
safeguards and controls. Additional information on our
Bioethics Committee is available on our CSR webpage.

19

Healthcare Code of Conduct
The Thermo Fisher Healthcare Code of Conduct wasdeveloped in accordance with the AdvaMed Code of
Ethics on Interactions with Healthcare Professionals,
which is based on the Pharmaceutical Research andManufacturers of America Code on Interactions with
Healthcare Professionals, the MedTech Europe Code of
Ethical Business Practice, and other similar guidance.
These codes account for the uniqueness of interactions
between medical device manufacturers and healthcare
professionals. Our healthcare compliance program
consists of written policies and procedures overseen bycompliance officers within each business. Our colleagues
receive extensive training and education annually, at aminimum, on relevant topics to remain compliant.
The promotion of medical devices and diagnostic
products is subject to strict global regulations, including
the Food Drug & Cosmetic Act, Anti-Kickback Statute, thePhysician Payments Sunshine Act and other international
regulations. Our policies require that our sales practices,
product descriptions and marketing practices must always
be fair, accurate and consistent with product labeling.
We prohibit promoting our products for uses that havenot been approved by the appropriate regulatory body,and promotional claims must be based on valid scientificevidence and provide accurate, objective and complete
information about the product. Customers or suppliers are
not prevented from doing business with our competitors
as part of our fair-trade practices.

Data privacy
We value privacy and the protection of personal data,
meaning any information that can directly or indirectly
identify an individual. The Thermo Fisher Global Privacy
Notice communicates to our stakeholders and third
parties how we collect, use and safeguard personal data.
2022 Corporate Social Responsibility Report

Our policies are continuously
reviewed based on changes
to jurisdictional privacy laws
and regulatory guidance,and our colleagues throughout
the organization are supported inunderstanding the privacy needs andsolutions for their area of the business.
We have nine privacy Centers of Excellence(COEs) to implement our strategy and support ourbusinesses in collecting and handling data in a waythat protects our colleagues, customers and patientsand complies with all applicable data privacy laws.
These COEs oversee privacy for business development,
clinical research, contracting, digital and innovation,
health data, human resources and marketing. With
additional specialization, our COEs help the Company
consider privacy matters in all business areas within an
evolving landscape.
In 2022, we added a Privacy by Design COE toproactively incorporate privacy into the design andoperation of IT systems, networked infrastructure andbusiness practices, such as the launch of a product,
service, tool or solution. Our enterprise privacy
management platform is used to document legal andcompliance activities, including privacy assessments
and investigations, contract reviews, individual rights
requests, and relevant due diligence on third parties,
including vendors.

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20

Cybersecurity
With the support of our colleagues’ vigilance, we
continue to strengthen our security measures. Everyone
at Thermo Fisher is responsible for safeguarding data
and maintaining the trust our customers place in us. Our
efforts include ongoing reviews with our suppliers to
confirm they are complying with our security standards,
as well as collaborating with our customers to develop
capabilities to secure integrated networks.
We make significant investments in our global
cybersecurity program, designed to protect theconfidentiality, integrity and availability of data andsystems within the Company’s environment. To best
support our business objectives and customer needs,
we combine infrastructure and security oversight intoa single, comprehensive program, which enables us towork in unison and take a more integrated approach tosecurity and resilience while aligning priorities with bettertransparency and visibility.

ISO
27001

certification of our corporatecybersecurity program using
the globally recognized
standard for information security
management systems

and other exercises designed to assess effectiveness. In
2019, our corporate cybersecurity program earned an
ISO 27001 certificate, a globally recognized standard
for information security management systems. The
recertification occurs annually, most recently in
December 2022.
Cybersecurity is prioritized as a Company-level goal
each year. We regularly educate and share bestpractices with our colleagues to raise awareness ofcyber threats through training, including cyber-event
simulations and attestation to our Technology
Acceptable Use Policy. In addition, all colleagues
are regularly trained and recertified on our policies
and applicable data protection laws that govern theconfidentiality, use, processing, retention, integrity anddisclosure of personal data and promptly report any
non-compliance, whether intentional or inadvertent.

Our cybersecurity program is led by the Company’s
vice president and chief information security officer
who, along with the senior vice president and chief
information officer, provides quarterly updates to the
Audit Committee of the Board and annual updates tothe full Board. Those updates include information about
the cybersecurity threat landscape, investments ininfrastructure and opportunities to protect and enhance
the Company’s systems and security of products andoperations. Learn more about our commitment to
information security here.

In 2022, we added the role of chief product security
officer to take a more formalized approach to securing
our instruments and devices, including software, at
every stage of the product life cycle, to meet the security
requirements of our customers and regulators.

We use a risk-based, defense-in-depth approach toidentify, protect, detect, respond to and recover fromever-evolving global cyber threats. Recognizing thatno single technology, process or business control
can effectively prevent or mitigate all risks, we employ
multiple technologies and controls, all working
independently but as part of a cohesive strategy tominimize risk. Our approach is tested through audits,
independent program assessments, penetration testing2022 Corporate Social Responsibility Report

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21

01

Operations
Our customers rely on our products, services and expertise as they
deliver life-saving therapies to patients, protect our air and water, andkeep the public safe. That’s why we strive to adhere to the highest
ethical, quality and safety standards, embedding rigorous practices
throughout our operations to ensure our customers can count on us.
We have a diverse network of suppliers that is expected to uphold ourstandards and support a more resilient supply chain that delivers greater
sourcing options and competitive pricing. To remain the best possible
partner for our customers, we are committed to:

Quality

Environmental,
health and safety

Responsible
sourcing

22

Feature story

Our operating discipline
To enable our customers’ success in an increasingly competitive global environment, weleverage our Practical Process Improvement (PPI) Business System, a deeply ingrained
philosophy of operational excellence that allows us to optimize processes, solve challenges
and reduce inefficiencies. Initiated by our colleagues, PPI ensures we work smarter forand deliver greater value to our customers. It empowers all colleagues to find a better way
every day, driving productivity and improving product and service quality to strengthen
customer allegiance.

Quality
Our customers rely on our products and services toconsistently meet their expectations and requirements,
which is why we put quality at the center of all we do.
We must always operate with integrity and transparency,
meeting the highest quality standards and global
regulatory compliance.
Our corporate Quality Policy requires that all
Thermo Fisher colleagues around the world understandand take personal ownership of quality in their daily
work and create a consistent customer experience.
Additional corporate procedures, such as corrective andpreventive action (CAPA), document retention practices,and competence and awareness training provide
minimum performance expectations for our quality
management system.
All new colleagues are educated on the quality
management system and related policies through an
onboarding process. We reinforce our commitment toquality through ongoing, required training and internal
auditing managed by each of our businesses.

2022 Corporate Social Responsibility Report

Quality management certifications
Given the diversity of our operations, our sites holddifferent certifications and registrations where applicableand required by the regulators of the markets where wesell our products. That means that 93% of our eligible
sites worldwide adhere to current Good Manufacturing
Practices (cGMP)10 and/or are certified to ISO 9001, ISO
13485 quality system standards. Some sites, whereapplicable, additionally hold an ISO 17025 certification.
For a list of certified sites and accompanying standard
certifications, please visit our CSR webpage.

93%

Owning quality
at every step
In 2022, we expanded our Making Quality
Personal education program to reach morecolleagues globally. In its second year, theprogram further elevated the message that
quality is everyone’s responsibility, and it
should be part of every aspect of our daily
work. An instructor-led session showedcolleagues how their roles influence quality
and compliance every day and how they
can implement the latest quality tools andtechniques. Making Quality Personal amplifies
the importance of quality across the Company,
and our collective focus results in a better
experience for our customers and theirpatients while driving value for Thermo Fisher.
To date, 25,000 of our colleagues haveparticipated in the program.

of our eligible sites worldwide
adhere to cGMP and/or are
certified to ISO 9001, ISO 13485
quality system standards

We also expect high quality standards from our suppliers
and strive to source from those holding ISO certifications
or suppliers who adhere to cGMP where applicable.

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23

Product innovation
Innovation is critical to helping our customers succeed.
Across our Company, new products are developed withina stage gate design control framework, our productideation and introduction process. Products are thenverified and validated to meet customer expectations
and international standards for quality, performanceand safety. Our quality management system tracks
all processes to completion according to establishedprocedures, including proper record retention. Products
are then registered according to country-specificrequirements with the proper government and regulatory
authorities.

Product testing
Embedded within our business segments, quality
control teams oversee product testing at various stagesof manufacturing. In-process and end-of-line testing
affirms11 that the product, equipment or medicine will
perform as expected when it reaches the customer.

2022 Corporate Social Responsibility Report

If a defect is detected, the product is put on hold orquarantined until the issue is resolved. In our quality
control labs, we conduct sample testing using arecognized statistical sampling approach to confirm a
product’s performance before distribution.

Responding to a product issue
When a customer contacts us with a concern, we
immediately enter the complaint into our quality system,
which alerts the relevant manufacturing site or business.
Within the quality system, the issue is evaluated against
regulatory requirements to determine whether authorities
must be notified. After determining whether thedefect or deviation can be replicated, an investigation
determines the root cause and launches a corrective
action or countermeasure to prevent the issue
from repeating. Committed to transparency,
we keep our customers informed
throughout the process.

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24

Environmental, health and safety
We are dedicated to protecting the environment, andthe health and safety of our colleagues, customers andthe communities where we operate. The Thermo Fisher
Environmental, Health and Safety (EHS) Policy outlines
our pledge and incorporates the principles of continuous
improvement, sustainability and transparency, and allcolleagues are responsible for upholding our EHS values
and meeting compliance standards. In 2022, we refreshedour policy to align with our core EHS requirements
and to expand on our commitments to environmental
sustainability.

Environmental, Health and Safety
Management System standard
Our EHS Management System (EHS-MS) and the
involvement of our colleagues helps us maintain a safe
work environment. Our EHS-MS is based on the same

tenets contained in widely accepted EHS management
system standards and practices, such as ISO 14001,
ISO 45001 and US OSHA’s “Recommended Practices
for Safety and Health Programs.” We have adapted andcustomized our standard for effective integration with
the Thermo Fisher corporate governance structure andoperating model.

Our EHS-MS in brief

1

Management support and leadership2

Colleague participation

3

Regulatory compliance

4

Hazard identification and risk management

5

Education and training

6

System evaluation and improvement

41

operating facilities ISO 14001
EMS certified by the end of 202212

Prioritizing colleague safety
We track EHS progress from the Company to site
level using two metrics to identify opportunities for
improvement, total recordable injury rate (TRIR) andlost-time injury rate (LTIR). These metrics are standard
industry rates that measure either the number of
injuries resulting in a recordable incident (as definedby US OSHA) or lost workdays, both per 100 workers.
Our proactive approach to site safety and continuous
improvement have helped decrease our TRIR by morethan one third in the last five years.
2021

2022

Lost-time injury rate13(per 100 workers)

0.20

0.21

Total recordable injury rate14

0.45

0.43

To consolidate all operations into one platform and unify
us around a single global process, we are introducing
a new EHS information software management systemthroughout our organization. This platform will strengthen
corporate oversight through improved reporting, data
management and target tracking and will optimize
enterprise-wide capabilities to manage trending
incidents and corrective actions.

25

Feature story

EHS leadership

Operational resilience
Our San Jose, California site, a large
manufacturing and R&D location within ourchromatography and mass spectrometry
business, was recognized with Highly Protected
Risk status by the property insurance company
that collaborates with Thermo Fisher on our global
corporate risk management program. Highly
Protected Risk status is awarded to facilities thatsuccessfully manage property-related risks. Our
San Jose site was recognized for steps taken toprevent or minimize the occurrence of damage
to machinery, equipment and facilities that are
essential to our business and our customers.

Creating a safe work environment for our colleagues andprotecting the environment where we operate is of theutmost importance to us. Thermo Fisher has established
an EHS operating model that consists of a network of
EHS professionals at the corporate, business, regionaland site levels who work together to meet compliancerequirements and drive continuous improvement. As
our Company has grown, we have expanded andincorporated the EHS operating model into each businessto ensure oversight and support for our global operations.

420

EHS professionals
worldwide

EHS compliance audit program
At the corporate level, we oversee our internal EHS
audit compliance program to evaluate site operations
for compliance with all applicable environmental, healthand safety laws, regulations and other related standards
we may adopt and endorse. We leverage our CAPA
processes to resolve any non-compliance issues that are
discovered. In-person baseline audits are conducted toassess the operations of any newly acquired businesswithin the first year. In 2022, baseline compliance audits
were conducted at manufacturing and laboratory sites
for both PeproTech and PPD, which were each acquiredin late 2021.

Property loss prevention
Building on our internal EHS audit process, we conduct
regular external property/loss prevention audits for all
major operating sites.15 These audits help us assessbusiness resilience in the event of fires or natural
disasters such as hurricanes, floods, earthquakes or
tornadoes. In 2022, we held our first Loss Prevention
Summit at the property loss prevention scientificresearch and product testing facility of our property
and business interruption insurance partner. This
unique learning environment features 12 different labs
devoted to educating visitors about common risks suchas fire, ignitable liquid, natural hazards, equipment
malfunction and electrical breakdown.
A cross-functional Thermo Fisher team comprised of
EHS, engineering and corporate real estate colleagues
attended the two-day summit and learned more about
the importance of investing in loss prevention strategies
and how to manage future risk with the expansion of
our existing facilities and new sites. Another focus of
the summit was how to best incorporate environmental
sustainability efforts in our facilities without increasing
risks to our physical assets.

Responsible sourcing
Fulfilling our Mission requires a large supply base acrossour global network. These suppliers provide the services
to support our research and development teams
and the raw materials, lab equipment, chemicals andother vital goods used across our manufacturing andservice network around the world. We have a Supplier
Code of Conduct that outlines supplier responsibility
expectations. We also strive for a supply chain thatgenerates economic development in local communities
and promotes diversity, which we achieve through ourrobust Supplier Diversity program.
We have an expansive network of direct and indirect
suppliers. To optimize the effectiveness of our supplier
responsibility programs, we segment our supplierengagement activities based on contribution to ourspend and criticality in delivering products to meetcustomer demand.

26

Supplier Code of Conduct

The code is integrated into supply agreements and terms
and conditions, and suppliers are expected to share theirperformance against code expectations at our request.

Supplier risk assessment and monitoring
Our risk-based approach to supplier engagement andmonitoring allows us to focus our resources on areas withthe largest potential impact. Criteria considered in our risk
assessment include:• Geography in which the supplier operates andinherent environmental, social and governance (ESG)
related risk in the region• Industry-specific risks, such as those found in miningof 3TG materials (also known as conflict minerals)• Previous supplier performance in environmental andsocial assessments or audits

Direct materials spend

2022

50%

2021

31%

2020

13%

2025 target

The Thermo Fisher Supplier Code of Conduct outlines
our expectations for suppliers/partners and theirsubcontractors in the areas of ethics, labor, health andsafety, environment and management systems, supply
chain transparency, product and service innovation, andcustomer satisfaction. In 2022, we revised our code toinclude greenhouse gas (GHG) emissions management.
This allows us to work with suppliers in support of ourclimate objectives by improving GHG measurement,
reporting, target setting and reduction. We also reviewed
and aligned the code to capture expectations associatedwith new local laws and regulations.

080% assessed for ESG

In 2020, we set a goal to have 80% of direct materials
supply assessed through the program by 2025, with
suppliers in the program meeting or exceeding the
EcoVadis scoring threshold of 45 to demonstrate strong
management practices. We are on track to achieve thistarget, demonstrating strong year-over-year growth.
In 2022, we extended our use of EcoVadis to the Fisher
Scientific channel to engage direct materials suppliersin high-risk regions. We also conduct audits to provide
insights into a supplier’s adherence to our Supplier
Code of Conduct and develop corrective action plans
to improve supplier performance, drive continuous
improvement and mitigate risk.
Our team also engaged third-party auditors to interview
colleagues for a series of onsite audits of Fisherbrand™
suppliers. The audits covered CSR, compliance,
ethical trading, labor regulations and standards, andresponsible production practices.

• Criticality of supply or strategic nature of thebuyer-supplier relationshipWe use the globally recognized EcoVadis16 platform tomonitor compliance with our Supplier Code of Conduct
and to assess and accelerate improvements in supplier
ESG practices affecting the environment, labor andhuman rights, ethics, and sustainable procurement.
2022 Corporate Social Responsibility Report

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27

Supply chain decarbonization
For Thermo Fisher, over 95% of our value chain emissions
are generated outside of our operations. To address this,our Scope 3 emissions target, which has been validated
by the Science Based Targets initiative (SBTi), is to have
90% of our suppliers by spend set climate-related,science-based targets by 2027. In 2022, we invited
hundreds of our largest and most emissions-intense
suppliers to participate in the CDP supply chain
program17 to share information on their climate goals
and progress. We also provided training and hosted
meetings with key suppliers to help educate them andgrow their understanding of their environmental impacts.
As a result, we were able to expand our communityof suppliers who have either set, or committed to set,science-based targets.
2021

2022

Suppliers with science-based
climate targets18

6%

13%

Suppliers committed to set ascience-based climate target18

9%

10%

We also work with our transportation carriers to identify
opportunities for carbon reduction in the shipment ofour products. We have developed a project pipeline for
reducing emissions by transitioning eligible air shipments
in major lanes to less intensive distribution methods,
such as ocean and ground-based transportation. Our
first pilot in one of our largest air travel lanes successfully
diverted 37% of the lane’s shipment volume from airtransport to ocean transport, resulting in an estimatedreduction of 5,000 metric tons of carbon dioxide
equivalents (MTCO2e). Our full Scope 3 emissions
inventory is third-party assured and published in our2022 Corporate Social Responsibility Report

CDP climate disclosure. In our Purchased Goods
and Services and Transportation categories, we areinvesting in maturing our data systems to further
improve our emissions calculations from spend-based,
environmentally extended input-output modeled
emissions to more granular, activity-based methods inalignment with the Greenhouse Gas Protocol.
To learn more about our emissions reduction efforts, see
the Environment section.

Supplier diversity
Building a program with diverse suppliers supports amore resilient supply chain by delivering greater sourcing
options, more innovative solutions and access to quality
products at competitive prices. We actively build andmaintain relationships with qualified small businesses
as well as veteran-, minority-, LGBT-, disabled-, andwomen-owned enterprises.19 We establish strong
relationships with advocacy organizations and certifying
bodies that promote diverse and small businesssuppliers and participate in events and conferences todevelop a larger network. In 2022, our spend with small
and diverse suppliers was $2 billion.
As advocates for supplier diversity, we collaborate
across our sector to share learnings. This includes
informal engagements as well as formal mentoring
to help our customers develop more robust supplier
diversity programs and expand opportunities for diverse
suppliers. Through mentorship, we help them grow theircapabilities and strengthen their competitive positioningin our supply chain.
Thermo Fisher is proud to be represented on the boardof directors for Diversity Alliance for Science, a nonprofit
organization advancing inclusive procurement practices
within the life sciences and healthcare industries.

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Training andcapability building
As we continually improve our responsible
procurement processes and champion
our suppliers’ sustainability initiatives, weare advancing our education offerings,
which now include:• O ffering a series of nine webinars on supplier
responsibility topics, such as GHG emissions,
ESG performance ratings and the Supplier
Code of Conduct• L aunching a new introduction to supplier
responsibility training course, which wastaken by more than 600 procurement colleagues
and is now included in standard onboarding
training for new procurement colleagues• C ontinuing internal training on our Supplier
Diversity Policy, which reinforces ourcommitment to supplier diversity and outlines
the program’s objectives and expectations forour procurement and sourcing specialists• M aking webinars available to suppliers
through our supplier climate disclosure program
in conjunction with CDP• H
 olding webinars related to EcoVadis in
local languages; more than 200 suppliers
participated in EcoVadis Academy courses
in 2022• J oining the Sustainable Procurement
Pledge, an international, nonprofit organization
for procurement professionals, academics andpractitioners, driving awareness and knowledge of
responsible sourcing practices and empowering
people in procurement2802Colleagues
Our colleagues are our Company’s greatest asset, and they bring theirbest every day to serve our customers and communities. As a Company
that thrives on innovation, we continue to build a workforce thatreflects the rich cultural, ethnic and experiential diversity of the world.
Our colleagues’ unique perspectives spark new ideas and make ourCompany stronger. We prioritize strategies, practices and processes thatallow them to build rewarding careers in a vibrant culture by enhancing:

Diversity andinclusion

Talentmanagement

Benefits andwell-being29

Our passionate global team

127,732

Our more than 125,000 20 Thermo Fisher colleagues are united in fulfilling our
Mission and are dedicated to advancing our customers’ important work to
make the world healthier, cleaner and safer. As the world leader in serving
science, our success is connected to our ability to attract, develop andretain the brightest talent.

total colleagues

Global representation21, 22

Colleagues by region22

49%

46%

57%
58%

Male

40%
40%

Female

52%

5%
52%

3%

33%

52%

2%

Undisclosed

Americas32%
15%

33% 15%

EMEA

APAC

US colleague representation

202122

2022

Women 21

42%

50%

Women in executive management roles 21, 23

35%

37%

Women in leadership roles 21, 24

38%

47%

Racially and ethnically diverse people 25

39%

39%

Racially and ethnically diverse people in executive management roles 23, 25

23%

23%

Racially and ethnically diverse people in leadership roles 24, 25

30%

30%

2022 Corporate Social Responsibility Report

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16%

30

Diversity and inclusion
Our diversity and inclusion (D&I) strategy is fundamental
to who we are, helping to create a culture where
everyone shares a sense of belonging. We arecommitted to a fair, equitable and rewarding work
experience for all colleagues, and we continue to build
an inclusive environment where everyone is empowered
to contribute, collaborate and innovate.

Representation
We are always working to advance diversity within
our Company. By the end of 2022, we completed
year four of our five-year D&I strategic plan, and since2019, we increased global representation of womenin our workforce by 5.9%. In the same timeframe, US
representation of women in our colleague population
has increased by 8.6%, with an increase of 9.3% for
those in executive management roles. Since 2019,
US representation of racially and ethnically diverse
colleagues has increased by 2.5% overall and by 2.6%
for those in executive management roles.

Fostering an inclusive organizational culture
Driving inclusion through colleague insights
Asking for our colleagues’ opinions and listening to their
feedback is essential to bringing our 4i Values to lifeand building a culture of belonging and inclusion. Ourannual Employee Involvement Survey (EIS) is our mostcomprehensive listening tool for gauging our strengths
and improvement opportunities in three key areas:• Involvement
Measures colleague engagement at Thermo Fisher,pride in working for the Company and confidence inour future• L eadership and management effectivenessMeasures qualities that reflect successful andeffective managers, including role modeling ourvalues, being supportive and providing recognition• Inclusion
Measures the behaviors that contribute to a senseof inclusion and well-being, including respecting
differences, empowering colleagues and valuing
diverse perspectives

Embracing an
inclusive culture
We continue to invest in our vibrant andinclusive culture so colleagues can share theirunique perspectives and bring their best everyday. The truest measure of our progress isthe feedback we received directly from ourteam, including nearly 26,000 colleagues fromour new clinical research business who had
the opportunity to participate in our annual
EIS for the first time. The EIS saw an 85%
response rate in 2022. We are also pleased
that our commitment to inclusion continues tobe recognized externally, earning top scores
once again on the Human Rights Campaign’s
Corporate Equality Index for LGBTQ+ inclusion(8th consecutive year) and on Disability:IN’s
Disability Equality Index (5th consecutiveyear). Among other awards, Forbes named
Thermo Fisher one of the World’s Top
Female-Friendly Companies, America’s Best
Employers for Veterans, and Best Places toWork for Disability Inclusion.

Our D&I framework
Our D&I strategy aligns initiatives, programs and policies to drive organizational and business priorities within a frameworkof three key pillars that help us track our progress.

Fostering an inclusive
organizational culture

Reinforcing infrastructure forinclusive policies & practices

2022 Corporate Social Responsibility Report

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Creating personalaccountability
31

Offered annually in more than 20 languages and in a
mobile-friendly version to all colleagues globally, thesurvey measures our progress and provides leadershipwith insights to improve our colleagues’ experiences.
Survey results influence annual Company-wide goals
and shape leader action plans to increase opportunities
for engagement and unlock the full potential of ourcolleagues’ contributions.

Belonging Week
In 2022, we brought our teams together virtually fromaround the world to celebrate Belonging Week, which
offers a simple way for our colleagues to connect with
our Mission and reinforce how we make a difference
when we work together as one team and Company.
We offered workshops, hosted town halls and sharedtips and tools to strengthen trust and build colleague
networks. As a result of this event, 70% of colleagues
who participated in Belonging Week reported feeling an
increased sense of belonging.

10th anniversary of our BRGs

9
30
250
BRGs

countries
represented
local
chapters

Business Resource Groups
Another way we foster organizational culture isthrough our Business Resource Groups (BRGs).
Our BRGs provide opportunities for colleagues todevelop alongside peers with shared identities andinterests, and those who support them as allies.
BRGs also advance our Company goals, such as
fostering inclusion and belonging, supporting talentand strengthening our communities. In 2022, we
integrated eight BRGs as part of the acquisitionof PPD and rebranded the groups to create one
cohesive community. The new emblems highlight theunique identities of each group while further unifying
more than 250 chapters across the globe.

Our BRGs

BRGs also provide our colleagues with opportunities
for professional development to build their professionaland social networks and strengthen engagement.
Demonstrating the incredible impact of these groups,
colleagues who participate in BRGs rated their feelingsof engagement and inclusion at the Company threepoints higher in the annual EIS than those colleagues
who do not participate.

Through my participation in the BRG, I was able to initiate conversations thatwould not have been relevant to my daily work and advocate for changes that
could help colleagues who look like and grew up like me. BRGs have been asurefire way of breaking down silos and creating connections that span various
businesses, functions and levels within the organization. I’m so thankful for theunique opportunities provided through the BRG which had an indelible impact
on my career here at Thermo Fisher.
— Michelle Choi
Senior Director, Customer Experienceat Thermo Fisher Scientific2022 Corporate Social Responsibility Report

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32

Reinforcing infrastructure for inclusive policies and practices
Optimizing inclusive hiring

Adjusted pay equity analysis

To support our colleagues’ ability to thrive over the longterm, we evaluate our human resources systems andprocesses to provide all colleagues with equal accessand opportunities to develop their careers. As an
example, beginning in 2020, as part of an evaluation of
our hiring practices, we examined our applicant tracking
process and identified ways to help hiring managers
engage in more inclusive recruiting. We introduced atool that helps them overcome unconscious bias whenwriting job descriptions and educated hiring managers
on how making simple wording changes can improve thequality and diversity of our applicant pool. We have since
standardized these practices, which is transforming ourhiring pipeline.

• A pay equity audit of our US non-executive workforce
compared the pay of colleague groups who do similar
work. The analysis was adjusted by consideringfactors that are known to influence total pay, such as
job title, performance and tenure. By reviewing our
US non-executive workforce, the analysis included
99% of our US colleague population and 42% of ourglobal population.

5.5

percentage point increase in global
applicants who are women andUS applicants who are racially andethnically diverse

Importantly, the conversion rate from applicant to hire
has increased by 1.1% for women globally and 4.7% for
racially and ethnically diverse people in the US.

Addressing pay equity26
We also evaluate our pay practices to ensure ourcolleagues receive fair, competitive and equitable pay
for their contributions to Thermo Fisher. In 2021, we
engaged a third-party firm to launch our first pay equity
study, which was completed in 2022. We analyzed datain two ways to gain balanced insights for furthering our
D&I progress. By voluntarily increasing the transparencyof these disclosures, we are reinforcing our commitment
to stakeholders and the continuous improvement of our
D&I initiatives.

• O ur pay equity analysis 27 showed that non-executive
colleagues who are women earned 98% of the total
pay earned by men in similar roles. Racially andethnically diverse colleagues earned 99% of the total
pay earned by White/Caucasian colleagues in similarroles. These first-time results reflect the rigor of ourcompensation policies and processes, and the resultsof the analysis will inform our work going forward.

Unadjusted median pay analysis• Our unadjusted median pay analysis considered
colleague representation across the US and is
not affected by other job-related influences. The
2021 analysis gathered total pay amounts for allcolleagues, including executives, and identified thevalue in the middle of the data set—the median—
without adjusting for factors like job title, performanceor tenure. The difference in the median total pay
between two colleague groups is referred to as themedian unadjusted pay gap.
• Our analysis concluded that for US-based colleagues,
including executives, the median unadjusted pay for
women is 91.4% of total pay for men, and the median
unadjusted pay for racially and ethnically diverse
colleagues is 77.4% of total pay for White/Caucasiancolleagues.27 Continuing to execute on our D&I
strategy and increasing representation in leadershipand executive management roles will reduce thesegaps between the medians.
33Based on the insights from this study, we will continue
to invest in training, tools and programming to drive
our progress.
To ensure colleagues around the world are compensatedequitably, we plan to expand our pay equity studies anddisclosures globally, beyond the UK, France and Ireland,
where we already conduct annual median gender pay
gap analyses in compliance with regulatory requirementsin those three countries. In the US, we will complete ananalysis of the non-executive workforce in our clinicalresearch business, which was acquired in 2021 after our
pay equity study was already underway.

Our BRGs represent the diversity of our colleagues aroundthe world, especially their desire to bring our Mission
and purpose to life. As a BRG executive sponsor, it’s myprivilege to work closely with these passionate teams to ask
questions, learn from them, understand our challenges andultimately better leverage the power of diversity to create a
Company culture where everyone feels like they belong.
— Michel Lagarde
Executive Vice President and Chief Operating Officer
at Thermo Fisher ScientificCreating personal accountability
As one of our 4i Values, Integrity reinforces theimportance of being accountable, honoring
commitments and communicating openly. All colleagues
are expected to look for opportunities to foster greatercollaboration and Innovation, another one of our
4i Values.
Our senior leaders serve as role models and allies
in advocating for our colleagues from historicallyunderrepresented communities. Many members of theCompany leadership team serve as BRG executive
sponsors and champion their groups, enhancing
awareness through calls to action with a heightened
focus during BRG spotlight months. Through theirinvolvement, our leaders broaden and deepen theirunderstanding and appreciation of the lived experiencesof our colleagues, particularly those from diverse
backgrounds. These connections help to create moregenuine and authentic advocacy on behalf of ourcolleagues.

2022 Corporate Social Responsibility Report

In 2022, we launched a D&I learning channel anddeveloped an educational journey to activate allyship byraising awareness of the difference between equality andequity. Colleagues explored how earned and unearned
advantages impact access and opportunities and wereencouraged to proactively share their experienceswith their peers. We provided specific opportunities
for colleagues to become allies and to understandhow being an ally is tied to our 4i Value of Involvement.
Human resources (HR) further supports programs that
advance our personal accountability goals, including
leading discussions on diversity in our succession
planning process and facilitating action planning for
implementing colleague feedback that’s received in ourannual EIS.

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Talent management
The success of Thermo Fisher is fueled by anempowered, adept workforce that embraces our
Mission, values and inclusive culture. Our talent strategy
ensures we have a skilled global team to support ourcustomers while enabling our colleagues to reach theirfull potential and having long and rewarding careers with
our Company.
We invest in our talent at all career stages—frominterns and early career professionals to managers andexecutive leaders—to enhance our colleagues’ skills andknowledge, providing the opportunities and resources
they need to thrive. Leveraging the power of technology,
we create an exceptional colleague experience, fromrecruitment through ongoing development.
34

Talent attraction and acquisition
Our colleagues can realize their best personally andprofessionally, while taking pride in the significant impacts
they are making on society. During 2022, more than
26,000 new colleagues28 chose to join the Company.

We also deploy local, market-specific approaches tocontinuously improve connections with candidates whoshare our values and will best complement the skills of
our global teams.

We identify, attract and engage top talent with diverse
backgrounds and unique skillsets to enable ourcustomers to solve some of the world’s most pressing
problems. Our approach to hiring talent to meet thebroader goals of the business begins with market dataand insights. Our sourcing and talent attraction strategy
is accelerated through the use of talent intelligenceand data science to identify diverse candidate slates,
gaining a competitive advantage in the hiring process.

Delivering a seamless experience

Distinguished 2022
employer accolades

We are committed to delivering a seamless experiencefor external candidates as well as current colleagues
looking for the next chapter in their career at
Thermo Fisher. Innovative technology solutions enable
automation at key stages of the hiring process, providing
greater transparency and responsiveness to keep
candidates informed of their status. This also allows for
dedicated personal interaction where it matters mostduring the candidate journey.
Our global career site offers nine robust, regional
experiences with localized content that provides
prospective colleagues with the most relevant
information for their interests and skills, making it easierand faster to find opportunities—ultimately simplifying
the application process.

Cultivating the next generation of colleagues

Forbes2022 America’s Best Employer for New Grads
RippleMatch
2022 Campus Forward Award,Enterprise Early Career Programs2022 Corporate Social Responsibility Report

Building a brighter future for Thermo Fisher includes
finding the next generation of talent and helping morecolleagues establish long-term careers here. We invest
in meaningful early talent attraction and acquisition
programs for students who will become future scientists,
engineers, business leaders and managers. Part of ourapproach includes engaging our Company leaders to
identify the skills and roles needed for the future. Early
talent and the emergent capabilities they possess help
build a talent pipeline prepared to meet tomorrow’s
challenges while offering roles well suited to theirexpertise.

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One way we connected with early talent in 2022 was bypiloting a virtual real-time PCR diagnostics simulation
provided at no cost to undergraduates around the world.
This program allowed students to progress through thecurriculum by completing tasks at their own pace. By
deploying a virtual program, we democratized access tolearning and expanded awareness of science, technology,
engineering and math (STEM) to students globally.

937
43%

students enrolled in virtual
STEM simulation pilotof students who identified
as first-generationcollege students

Attracting diverse talent
Attracting and retaining a workforce that reflects thediversity of our customers and our communities is
integral to our talent strategy and allows us to fuelinnovation and build a culture of belonging. To reachtalent of all backgrounds and experience levels, wepartner closely with our BRGs. With their support, we
engage with diverse organizations to support STEM
communities, share career opportunities and activate
our diversity hiring strategy. Our network includes
National Society of Black Engineers (NSBE); Out in
Science, Technology, Engineering, and Mathematics(oSTEM); the US Department of Veteran’s Affairs; andSociety of Women Engineers (SWE). We participate in
hiring events, panel discussions and learning sessions
and provide services such as resume reviews andmock interviews to promote learning and development
opportunities for individuals from all backgrounds.

35

Welcoming new colleagues
Our New Colleague Onboarding program is an
immersive, two-way learning journey designed to instill
confidence and competence and grounds our new hires
in our Mission as they move into their roles. Managers
are critical to the success of the new colleague
experience and are given a series of resources andaction items, including the development of customized
90-day onboarding plans and an automated process for
assigning ambassadors who are available to support asmooth transition into Thermo Fisher. During their first
90 days, all new colleagues learn about our culture,processes and policies, as well as how to grow theirprofessional capabilities through a dynamic learning
experience. Onboarding content has been expanded inrecent years to include new modules on the customer
experience, our Practical Process Improvement (PPI)Business System, our CSR strategy and more. By
equipping new colleagues with the tools they need to be
successful, we create a supportive environment for themto quickly begin building their Thermo Fisher careers.
Colleagues who join us through the Just Project, ourhistorically Black college or university (HBCU) alumni
recruitment initiative for early career and experienced
talent, are immediately introduced to our BRGs as thisnetwork supports improved retention and transparency
to the career development opportunities available. In
2020, we set a goal to hire 500 HBCU alumni by the endof 2023—a milestone we achieved one year early.

Talent development
Learning is a continuous journey, and we regularly invest
in the development of our colleagues as they growtheir careers at Thermo Fisher. Managers, supervisors
and HR business partners all take an active role inencouraging all colleagues to take advantage of theseopportunities, especially during the bi-yearly performance
management and development process (PMD) when
professional development goals are set and discussed.
2022 Corporate Social Responsibility Report

In addition to formal development conversations,
Thermo Fisher University, our AI-driven learning platform,
is a comprehensive resource for colleagues at all levels
to access leadership, management and professional
development in ways best suited to their learning styles.
Content is available through the platform for colleagues
to explore on their own. In addition, personalized
content is shared proactively with colleagues based on
their individual development needs and aspirations. In
2022, we had more than 1.8 million colleague visits to
Thermo Fisher University.

Formal training programs
In addition to individual self-serve training via
Thermo Fisher University, we also offer formal
management and leadership development programs,
including aspiring manager through experienced
manager development programs. Multiple leadershipand executive development programs are also offeredto support individuals as they transition to increasingly
complex, higher-impact roles in the Company. These
instructor-led programs are designed for participants tolearn and practice new skills to successfully implement
them in their roles. We offer both open enrollment andnomination-based programs, with special offerings forcritical talent.
Our programs provide a wide variety of options, fromaspiring managers to senior executives, to increase theskills and capabilities of our future and current leaders
so they can take the next career step or further develop
in an existing role.

Developing our talent
Early talent
We believe that investing in early talent is essential
to achieving our long-term ambitions. Our full-time,
multi-year, formal rotational programs, some of whichhave been offered for more than 20 years, provide a way
for individuals entering the workforce to gain unique andthermofisher.com/csr

Highlighted training programs
Open enrollment
Management Essentials
Developing Frontline Leaders
Role of the Leader
Next-Level Leader program

Nomination-based
Aspiring General Manager program
General Manager Development program
Operations Leader Development program
R&D Leader Development program
Developing Emerging Leaders
Global Leader Development program

dynamic work experiences supporting critical functions
such as operations, quality assurance and regulatory
affairs, IT, data science, product engineering and finance.
Our global graduate leadership development programs
support roles in both general management and HR. We
are pleased that many alumni from these programs now
hold a variety of roles across the Company, including on
our Company leadership team.
36

Succession planning

Associate talent 29
Developing our associate talent pipeline is anothercritical focus area at Thermo Fisher. In partnership withsite and HR leaders, we offer virtual and location-based
training aimed at strengthening the associate experienceand supplement existing colleague feedback processes
with tools that specifically target associates to capture
their concerns and experiences. We also invest in
developing the managerial effectiveness of colleagues
leading our associate population and train them on how
to effectively engage associates in career conversations.
Career development workshops are another initiative
to help associates plan for future opportunities with
Thermo Fisher.

Supporting talent mobility
Providing our colleagues with a variety of work
experiences is one of the most effective ways tohelp individuals achieve their career aspirations. We
actively manage our talent through rotations acrossour businesses, functions and geographies to provide
new experiences as well as enable colleagues to shareknowledge and broaden their skills. Talent mobility isalso a key component of our continuous succession
planning processes, which leverages workforce data andpredictive analytics to create meaningful job rotations foreach colleague while benefiting the Company.
In 2022, we enhanced our internal talent marketplace
to expand access to global opportunities and simplify
the process for colleagues to find openings andapply. The relaunched platform, MyCareer, provides
access to career development resources, peer-to-peer
networking, our BRGs and suggested reading tosupport colleagues as they prepare for their next roles.
MyCareer supplements the already robust offerings ofThermo Fisher University, which is regularly refreshedwith new content, tools and templates to support ourcolleagues and managers in career development andplanning.
2022 Corporate Social Responsibility Report

Building a brighter future requires thoughtful succession
planning efforts, and our approach means Thermo Fisher
is positioned to continue to thrive under strong leadershipfor the long term.

Critical role succession
A dedicated team actively manages the careers ofindividuals serving in our most critical roles, including
general management, operations, sales, quality, andresearch and development. By mapping all roles,
incumbent talent, and talent pipelines within these
critical capabilities, we begin planning 12 months inadvance of potential moves to ensure we have richtalent pipelines and business continuity. In addition,
graduates of key development programs such as the
Aspiring General Management, General Management,
Operations, and R&D Leadership programs are matched
to vacancies and succession plans for critical roles.

High-potential talent readiness
We recognize the importance of improving rolereadiness for our non-executive, high-potential talent,and our business leaders are actively engaged in
the development of these colleagues. In 2022, weestablished new sales and operations leadershipcouncils that regularly meet to discuss the performanceand potential of the Company’s top 50 emerging andincumbent talent for these functional areas. The councils
calibrate readiness to the executive level and review risks
and mitigation plans while fostering the ongoing careerdevelopment of top sales and operations leaders with afocus on core capabilities and leadership competencies
as key success factors.

Our succession process is comprised of a year-round
series of facilitated reviews. A biannual meeting with
our CEO, chief operating officer, chief human resources
officer, and other senior leaders focuses on succession
planning and talent pipelines. At bi-yearly Company
leadership team calibration meetings, the discussion iscentered on our most senior talent, their performanceand potential, and in monthly management reviews, ourchief operating officer, executive vice president and chief
human resources officer review top talent and moves
under consideration.

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37

Benefits and well-being
At Thermo Fisher, we deliver competitive, highly
valued total rewards packages to attract and retain
high-performing, results-driven, passionate colleagues.
To offer meaningful and equitable benefits, we follow
a global framework and set of design principles toimplement programming at the country level that
promotes talent mobility and well-being.

Guiding principles

We continually evaluate our total rewards packages andmeasure them against established benchmarks andmarket practices to provide competitive, flexible andefficient programs and resources that best meet theneeds of our global colleagues and their families.

Market competitive

In the US where we are headquartered, colleagues havea choice of comprehensive medical, dental and vision
well-being plans, including tax-advantaged savingsand spending accounts, as well as commuter benefits,
employee assistance programs (EAP), and Company-paiddisability, accident and life insurance. We also provide
eight weeks of paid leave for primary caregivers andthree additional weeks of bonding leave for new parents.
In 2022, we introduced a new medical plan focused onaffordability, enrolling over 9,000 colleagues in addition
to those already enrolled in previously existing medical
plans. Part-time colleagues in North America who workat least 20 hours per week also have access to benefits,
including medical and retirement plans.

Core, common, consistent

Our Employee Stock Purchase Plan (ESPP), currently
available in more than 20 countries, offers colleagues theopportunity to purchase Company stock at a discount.
Additionally, to further support personal and professional
development, we provide tuition reimbursement tocolleagues in the US, Canada and Puerto Rico.

• Achieving economies of scale

For more information on these and similar offerings,
please refer to the benefits and total rewards section of
our website. Benefits and total rewards offerings mayvary by country and role.
2022 Corporate Social Responsibility Report

Pay for performance• Rewarding top performing colleagues for theiroutstanding contributions• Paying for performance is the cornerstone of ourreward program• Using market data to deliver competitive rewards
in geographies served• Taking a long-range view to avoid drastic changes
based on short-term events• Focusing on core needs first• Promoting equitable and diversified programs thatenable talent movement using global principles
while reflecting local markets• Keeping it simple and easy to understandMaximizing value• Using cost-effective solutions to meet the needsof colleagues, customers
and shareholders• Using our PPI Business System process to drive
efficiency

Driving a culture rooted inour 4i Values• Incorporating Integrity, Intensity, Innovation andInvolvement in all we do• Focusing on developing the talents of ourcolleagues• Maximizing the power of a diverse workforce

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38

Innovating to meet colleagues’ evolving needs
In 2022, we launched innovative programs and extended
existing services to assist colleagues who may havebeen facing healthcare or financial challenges.

Special inflation payments
As inflation rates rose globally in 2022, Thermo Fisher
made special payments to eligible colleagues worldwide
to help ease some of the temporary impacts of inflation.
Issued in July/August of 2022 and January 2023, these
two inflation-relief payments totaled 4% of base payfor eligible colleagues and were provided in addition toplanned merit increases.

Prioritizing mental
health and well-being
Over the last couple of years, we have seen agreater demand for mental health services andhave recognized that new digital solutions canfacilitate easier access to a wide array of mental
health support. In the US in 2022, we implemented
a Behavioral Health Navigator platform to help
colleagues find quality mental health providers
easily and quickly. It also helps align the typeof support with our colleagues’ preferences
and needs. As part of this effort, we expanded
covered mental health visits to 12 per calendar
year, and saw EAP usage increase nearly threetimes compared to 2021.

Additional benefit programs
Survivor Support is a new program in the US that offers
up to 12 months of financial planning services at no
cost to the families or spouses of colleagues who passaway. We have also increased choice and flexibility in
the US, including the option to pay for higher levelsof coverage, for life and disability insurance plans.
Improved communication and administration of ourvoluntary benefits is making it easier for more colleagues
to learn about them and has resulted in a significant
increase in participation. These programs include legal
coverage, health, auto and home insurance, and identity
theft protection.
Since 2020, we’ve seen a 70% increase in the use of our
IMPACT program, a Company-provided benefit offeredin the US that supports our colleagues and their families
after a cancer diagnosis. IMPACT team members are
genetic counselors who help program participantsnavigate their cancer journey. Services include receiving
expert medical second opinions, accessing genetic
counseling, understanding test results, preparing
questions for doctor visits, filing insurance paperwork,and listening and talking through difficult decisions.
IMPACT counselors also offer family cancer risk
assessments, a service to educate and share prevention
strategies with colleagues concerned about their family
history or a past diagnosis.

Based on the increased level of colleague
engagement and growing global vendor
capabilities, we will enhance our global EAP
programs and expand our Behavioral Health
Navigator to reach additional countries outsideof the US.
39

03Communities
Our commitment to building a brighter future for the global community isa priority reflected in our Company goals. We make a positive impact onsociety, not only by enabling our customers’ success, but also throughour philanthropic efforts and by embracing our colleagues’ passion forgiving back to the communities where we live and work around theworld. Our partnerships with nonprofit organizations and governments
help drive more equitable outcomes for society through:STEM
education

Colleague
involvement

Globalhealth equity

40

Expanding our outreach
We are deeply committed to delivering local impact on a global scale in support of the communities
where we live and work. Through our Foundation for Science, and the power of our products andtechnologies, we aim to inspire the next generation of innovators while also advancing global healthequity. At the center of this work are our dedicated colleagues who amplify our impact.

2022 impact30
STEM education

89,5004,800

students reachededucators reachedColleague involvement

120,000

4,400

volunteer hours

nonprofits supported throughvolunteerism and colleague donations

Global health equity

1,000,000

25

COVID-19 products donated tosupport low- and middle-income
countries (LMICs)

LMICs accessed lower cost HIV
drug resistance testing products2022 Corporate Social Responsibility Report

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41

STEM education
As the world leader in serving science, we want toincrease opportunities, especially for underserved
populations, and strengthen our future talent pipelineby stimulating young people’s interest in science,technology, engineering and math (STEM). We deliveron this commitment through our investments in STEM
partnerships and colleague involvement programs that
support hands-on and inclusive learning activities.
Watch our colleagues in action as they inspire the next
generation of innovators:
Inspiring future innovators
Play video on YouTube

Working in partnership
By collaborating with others, we are able to increase our
impact and reach even more students.

Society for Science
Beyond growing ourlong-established partnerships, weare also creating new initiatives.
In 2022, we launched the
Thermo Fisher Scientific JuniorInnovators Challenge, becoming
the new title sponsor of Society
for Science’s premier middle
school STEM competition in the US. We anticipate thatthe challenge will reach more than 65,000 students
annually through local, state and regional STEM fairs.
Through skills-based volunteerism and outreach, andequity-based programs, we are helping to ensurethat the students served, teachers supported andnominees converted to national competitors are more
representative of the US population.

Boys & Girls Clubs of America
Since 2016, Thermo Fisher has partnered withBoys & Girls Clubs of America (BGCA)—an organization
with a proven track record of helping youth reach
their full potential. Together, we are increasing STEM
education equity by connecting more youth who arehistorically underserved with high-quality learning
experiences that inspire them to pursue a career in
STEM. In 2022, we achieved this by supporting
BGCA’s DIY STEM program for students and
STEM training pathways for the organization’sclub staff. We maximized our impact by engaging
our colleagues around the world in these efforts.

Competing in a national
science fair directly
influenced my path towarda STEM career. I was
inspired to take high school
summer classes, which led
to a degree in engineeringand a startup role building
an innovative technologythat was later acquiredby Thermo Fisher. As theleader of that productline today, I am proud tobe part of a Company
that expands access to
STEM learning experiences
like the ones that shaped
my life.

— Jorge Fonseca
Director of Product Management, Genetic
Sciences at Thermo Fisher Scientificand former participant in a Society for
Science-hosted competition
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42

Inspiring post-secondary successSalaam Bombay Foundation
Another trusted partner is the Salaam Bombay
Foundation, an organization in India that we havebeen supporting since 2018 to unlock the potentialof more than 3,000 middle and high school students
to date, particularly in underserved communities. In
2022, a significant milestone was achieved when four
alumni who had never left their local communities
were selected to represent India. They were among
179 teams competing at the FIRST™ (For Inspiration
and Recognition of Science and Technology) Global
Challenge in Geneva, Switzerland.

We’re passionate about serving students at various
stages of the academic journey. Through higher
education partnerships, we help advance equitable
access to STEM education and career opportunities.

• Reaching our goal, ahead of schedule, to hire
500 historically Black college or university (HBCU)
alumni through our recruiting initiative known as theJust Project2022 highlights

Through our connections with students at this educationlevel, we are encouraging a pipeline for early talent andsupporting strategies to bring new graduates into the
STEM workforce, incorporating critical skills and diverse
perspectives to fuel future innovation.

• Announcing our 10-year partnership withUC San Diego to create a cutting-edge researchcollaboration facility that will support diverse
talent through immersive experiences and career
mentorship• Piloting a virtual, practical learning simulationthat enrolled more than 900 undergraduate
students globally

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Read more about our UC San Diego partnership in the
Our Company section and about other initiatives in theColleagues section.

43

Feature story

Creating learning experiences
In addition to participating in our STEM partnerships, ourcolleagues also support our signature STEM education
programs: Innovation Nation, STEM Design Challenge,
STEMcredible Kits, and Career Connections, which
accounted for half of our STEM volunteer events in
2022. Our colleagues bring these programs, which
consist of internally developed science experiments
and instruction guides, to young learners in theirlocal communities. Experiments are designed to beaccessible, incorporating everyday household items that
don’t require special technical skills. This enables any
volunteer to deliver these fun, hands-on activities thatengage a child’s sense of wonder while highlighting ourtechnologies, making connections to careers in
STEM and demonstrating our commitment to thenext generation.
Our annual month-long STEM education campaign
engaged our colleagues in more than 100 volunteer
events, accounting for a third of our total STEM events
for the year in just one month. In addition to participatingin signature STEM education events, colleagues got
involved through local Community Action Councils(CACs), our site-based colleague-led groups focusedon volunteering, or Business Resource Groups (BRGs),
which connect colleagues with shared interests andbackgrounds for networking and development.

I am continually inspired by these incredible students. Their
excitement is visible, whether during hands-on STEM experiments,
career panels, or conducting research in our Thermo Fisher labs.
During those interactions I am reminded of the passion for sciencethat I discovered when I was little—early positive experiencesthat led me to pursue a career as a scientist. I am proud of ourcolleagues who dedicate thousands of hours annually to furthering
STEM education access and equity in our local communities.
— Karen Nelson
Chief Scientific Officer and STEM Education Month
Executive Champion at Thermo Fisher Scientific

STEM educationmonth
In Lagunilla, Costa Rica, our local CAC and
our PossAbilities BRG chapter teamed up
with ASIDOWN Costa Rica—an organization
dedicated to the empowerment and inclusion ofpeople with Down syndrome—to create a truly
memorable education event for young students
and reinforce that everyone belongs in STEM.
“We never get to do activities like this; ourkids are often treated like they are not able
to explore or get a little messy,” one parent
shared about the experience. “[Thermo Fisher
colleagues] treated them as equals, gave themthe space to be able to explore at their own
pace, and without rushing any results. My little
kid was very happy.”

We wanted to direct ourefforts to a part of ourpopulation that is often
neglected to grow students’curiosity and questioningof all things around them.
— Marco Hernandez
Facilities Manager at Thermo Fisher Scientificand Costa Rica CAC Leader

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44Colleague involvement
Our colleagues are passionate about helping others, andwe provide many opportunities for them to get involved
through our global network of CACs, annual campaigns
and colleague matching gift program. In 2022,
colleagues volunteered more than 120,000 hours andcontributed to more than 4,400 nonprofit organizations
around the world.

Community Action Councils
Our more than 170 CACs engage our colleagues tobroaden our STEM education and health equity reach in
our local communities.

560

volunteer events planned andcompleted by our CACs in 2022

To maximize the impact of our CAC network, weorganize an annual summit where colleagues share bestpractices, celebrate successes, and strengthen local site
strategies for engaging with surrounding communities. In
2022, CAC leaders from 16 countries joined members of
our Company leadership team for this event.

Involvement campaigns
Each year, we implement a series of campaigns 31
to inspire and engage colleagues through turnkey
volunteering and charitable giving opportunities.
Our annual Get Involved campaign enabled colleagues
to participate in 206 volunteer events across 37
countries in 2022. By offering both in-person and virtual
options, we made it easier for more colleagues to cometogether and make a difference.

2022 Corporate Social Responsibility Report

Through a unique 16-day challenge that fostered teambuilding, colleagues earned charitable donation awards
for completing exercise and wellness activities whilecollectively raising funds for global STEM educationand health equity programs. In 2022, this campaign
supported Teach for All in delivering high-quality STEM
content to 5,000 educators, and Project HOPE toprevent and improve the outcomes of mother-to-child
HIV transmission.

Matching gift program
Our matching gift program helps colleagues increase
the impact of their incredible philanthropic giving by
matching their donations to eligible charities at 100%.

$5.8M

donated, together withour colleagues, to causes
around the world

Last year, we launched a giving campaign to support
our humanitarian relief effort for Ukraine, resulting inan outpouring of compassion and generosity fromour colleagues. While providing targeted support for
impacted colleagues and their families in the region,
Thermo Fisher also donated $500,000 to trusted relief
organizations, such as the International Committeeof the Red Cross, International Medical Corps™,
International Rescue Committee™, Project Hope™,
Save the Children™, and World Central Kitchen™
organizations, and provided a 200% match for the first$250,000 in colleague donations with 100% matchingfor all subsequent eligible contributions.

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45

Global health equity
As a leading life sciences Company with unmatchedcapabilities across a diverse, integrated portfolio, we
are uniquely positioned to support our customers,
governments and health organizations in addressing
health inequities. We operate across the global healthsupply chain, from manufacturing and distribution
to service and maintenance. This allows us to offer
high-quality, affordable and accessible solutions toqualifying low- and middle-income countries (LMICs).
Today, we serve customers in over 100 LMICs to help
advance global health equity.
By working with others, we are helping to create a moredemocratized global healthcare environment, including
making an impact in the management of infectious
diseases like HIV/AIDS.

Accessible pricing for HIV/AIDS diagnostics
Nearly 38.4 million people globally were living with
HIV/AIDS in 2021.32 Sub-Saharan Africa remains themost severely affected region, accounting for two-thirdsof people living with HIV.33 Among this group, more than
28 million were receiving antiretroviral therapy, however,up to 10% of adults starting HIV treatment experiencedrug resistance to certain drug classes.34
In 2022, we launched our HIV drug resistance (HIV-DR)
genotyping kit for a fraction of the price of typical kits.
This product helps determine whether a person livingwith HIV has a mutated form of the virus that does

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not respond to antiretroviral therapy. Drug resistancetesting plays a critical role by helping patients livingwith HIV receive the right antiretroviral treatment andassists in the monitoring, control and prevention of HIV
transmission globally. Mitigating the progression of
HIV-DR is important to the long-term efficacy anddurability of available treatments.

Working in partnership
Our HIV-DR genotyping kit has already affectedchange in public health policy, one example being
our public-private partnership effort with the Kenyan
Ministry of Health and Clinton Health Access Initiative™
organization. As a result of the accessible pricing of the
kits offered by Thermo Fisher, the Kenyan Ministry of
Health worked with the Clinton Health Access Initiative
to update its HIV Prevention and Treatment Guidelines,
incorporating a new requirement for HIV-DR patient
testing to more efficiently determine the best course oftreatment for people living with HIV.
As we plan for the future of our global health equity
work, we are exploring solutions for other infectious
diseases, such as tuberculosis, hepatitis and humanpapilloma virus (HPV), to further influence public healthpolicy and save more lives.

46

04

Environment
Our commitment to the environment is deeply rooted in our Mission.
By championing a healthy planet that sustains human health and natural
resources, we can build a brighter future for generations to come.
Through our culture of continuous improvement, we manage risks,
reduce adverse impacts and unlock opportunities through collaborations
that help our customers achieve their environmental sustainability goals.
Together, we can maximize our collective contributions to:

ClimateNatureDesign for
Sustainability

47

Advancing
our targets
Our commitment to environmental
sustainability supports our Mission to
enable our customers to make the world
healthier, cleaner and safer. Our climate
strategy includes greenhouse gas (GHG)
emissions reduction targets that alignwith the Paris Agreement, and havebeen validated by the Science Based
Targets initiative (SBTi).

Scope 1 & 2

Scope 350%

90%

reduction inemissions by 2030
from 2018 baseline35

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ZEROof suppliers (by spend)
to set science-basedtargets by 2027

Water
We recognize our role in protecting nature.
That’s why we are committed to preserving
freshwater resources and managing waste.

NET

2024

completion of water usage
assessments for water-intensive
manufacturing facilities inwater-scarce areas37

Scope 1, 2 and 3
emissions by 205036

Waste

30

manufacturing
and warehouse sites
zero-waste certified
by 202538

48

Accelerating our action
We recognize the urgency of addressing our changing climate and understand the power of innovation to create a better world. We innovate
to provide our customers with the solutions to develop greener technologies, ensure safe air and water quality, and advance climate research.
In 2022, we continued to accelerate our environmental strategy by enhancing theoversight of key programming areas. A new global sustainability function manages
our comprehensive net-zero, water and waste programs and drives implementation
across our operations and value chain. In parallel, our Design for Sustainability (DfS)
program—a critical driver of our net-zero, product life cycle and packaging priorities—
was expanded to further scale and standardize the application of sustainability
principles in our product design and development processes.

Supercharging our efforts Company wide is the dedication of our more than 125,000
global colleagues and the value of our Practical Process Improvement (PPI) Business
System, which supports our philosophy of operational excellence. Our teams are
empowered to find a better way every day—for our customers, our business andour planet. To learn more about how environmental sustainability is governed at
Thermo Fisher, see the Our CSR commitment section.

49

Climate
As the world leader in serving science, we support theurgent calls for climate action from scientists across theglobe. Our net-zero strategy is centered around:• Transitioning away from the use of fossil fuels andhigh-impact refrigerants• Accelerating the adoption of renewable electricity• Engaging with our suppliers to amplify
collective progress
In 2022, we raised our commitment by increasing ourtarget to reduce Scope 1 and 2 emissions from 30% to50%39 by 2030. This aligns our climate strategy with theParis Agreement and the 1.5°C pathway.

Our new Scope 1 and 2 target, along with existingnear-term and net-zero climate goals, have beenvalidated by the SBTi,40 an independent organizationthat establishes standards, guidance and tools todrive ambitious climate action in the corporate sector.
Thermo Fisher is one of the first companies in our sector
to have a net-zero target validated by the SBTi.
Our targets guide our progress, with third-party ratingsfrom organizations—including CDP41 and EcoVadis42—
validating our continued environmental program
improvements.

Tracking value-chain emissions43≈13.2 million MTCO2e
Suppliers – 65.7%■ Purchased goods and services 63.2%■ Capital goods 2.4%

Transportation – 10.2%■ Transport and distribution 10.2%

Operations – 6.3%
■ Purchased electricity and steam 1.9%
■ Fossil fuels and refrigerants 2.7%
■ Fuel- and energy-related activities 1.1%
■ Waste 0.6%

Colleagues – 4.1%
■ Commuting 3.2%
■ Business travel 1.0%

Product use and disposal – 13.7%■ Use of sold products 13.2%■ End-of-life treatment 0.4%2022 Corporate Social Responsibility Report

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50

Feature story

Scope 1 and 2
Our progress to 2030

2022

Fossil fuel transition

24.9%

2021

17.9%

2020

13.2%

2019

5.1%

2018

2030 target

In 2022, our emissions were more than 24%44 lower
compared to our 2018 baseline. This progresspositions us well ahead of our newly raised 2030
target. Year over year, we achieved a reduction of
8% by increasing our procurement of renewableelectricity, reaching 36% of our total electricity usage,
and flattening fossil fuel growth through energy
conservation practices. See the Data summary forclimate and energy data.

0%

050
% reduction since 20182022 highlights

20

sites have achieved fossil-fuel free 45 status, meaning greater than 99% of the energy
consumed came from renewable sources

Scope 120
240

Scope 2
net-zero projects completed orunderway to reduce Scope 1
emissions by approximately
9,000 MTCO2e annually3

new net-zero projects identified
through 25 site energy
assessments for a two-year totalof 45, representing more than
75% of our Scope 1 emissions

150
900K

onsite solar units added,
increasing our total onsite solar
and wind capacity to nearly
8 megawatts (MW)46
sites powered with 100% renewableelectricity through the purchase ofrenewable energy certificates in
China, India and South Africa

Transitioning away from fossil fuels for ouroperations is fundamental to our net-zerostrategy. While our success requires clean energy
technologies that aren’t yet available, we began
taking important steps toward this goal in 2022.
At our Linz, Austria, manufacturing facility, ourcolleagues applied our PPI tools and behaviors
to optimize steam generation at the site, reducing
the use of fossil fuels. These energy efficiency
measures make it possible to downsize theelectrical equipment required to generate steam,enabling our transition to renewable heat in amore cost-effective manner.
At our Carlsbad, California, and Allentown,
Pennsylvania, manufacturing facilities, we are
introducing hybrid boilers—innovative solutions
that can operate on natural gas and electricity
either partially or exclusively. Once these sites
are upgraded to accommodate a larger electrical
capacity, the hybrid boilers will be switched toelectric-only mode, efficiently supporting our
net-zero transition.

megawatt hours (MWh) of clean
energy added to the grid throughpower purchasing agreements,
covering 100% of our current US
electricity needs• 9
 0 MW share of Enel North
America’s Seven Cowboy
wind project in Oklahoma 47• 2
 00 MW share of the Millers Branch
Solar project in Texas, developed
by EDF Renewables 48

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51

Scope 3
For Thermo Fisher, over 95% of our value chain
emissions are generated outside of our operations. To
address this, our Scope 3 emissions target is to have
90% of our suppliers by spend set science-basedtargets by 2027.
In 2022, 13% of our suppliers by spend set ascience-based target and another 10% committed to set
a science-based target. Overall, our Scope 3 emissions
increased by less than 1% compared to our 2021
baseline. This increase was primarily due to a return tonormal levels of business travel in 2022.
The year also marked a significant expansion in our
Scope 3 reduction efforts. For more information, see the
Operations section.

2022 highlights
Purchased goods and services, and transport:
Launched our supplier engagement program.
• Reduced 5,000 MTCO2e and saved $1.5 million byshifting one of our largest freight lanes from air toocean transport

Waste: Conducted our first Company-wide waste
inventory to strengthen our waste management
program, insights and disclosures going forward, andset a near-term target to support our net-zero journey.
For more details on waste, see the Nature section ofthis report.
Business travel: Thermo Fisher joined United’s
Eco-Skies Alliance, a first-of-its-kind program todecarbonize aviation by powering planes in a moresustainable way. In 2023, a portion of our flights will be
powered by sustainable aviation fuel, reducing emissions
by up to 80% compared to traditional jet fuel.49, 50
Commuting: Expanded our support for low-carbon
commuting by promoting alternative transportation andthe transition to electric vehicles. Subsidies for biking,public transit and shuttles are provided by several sites
while another 40 locations make more than 420 electricvehicle charging stations available to our colleagues.
Product end of life: Expanded our equipment
refurbishment, component salvage and resale program
to extend equipment life and lower undesirable waste
generation by more than 185 tons in 2022.

• Invested in our data systems to enable a futuretransition from spend-based, environmentallyextended input-output modeled emissions to moregranular, activity-based methods in alignment with theGreenhouse Gas Protocol

52

Working in partnershipTo mitigate the impacts of climate change, we
believe in working together with our industry peers,customers, suppliers and other stakeholders. In 2022,
Thermo Fisher participated in several collaborations toaccelerate industry action, including:• Energize, a program to increase access to renewableenergy for pharmaceutical supply chains• Pistoia Alliance’s Clinical Trial Environmental
Impact Community, an organization focusedon quantifying the greenhouse gas impact ofdecentralized clinical trials and identifying key levers
to reduce those impacts; Thermo Fisher is proud toserve on the steering committee• National Academy of Medicine’s Action
Collaborative on Decarbonizing the US Health
Sector, a public-private partnership of health system
stakeholders committed to addressing the sector’ssustainability and resilience; Thermo Fisher isproud to serve on the Healthcare Supply Chain andInfrastructure working group

Working with customers to address sustainability
is essential to our business. We have establishedcollaborative governance structures to monitor our
respective and shared sustainability progress andlaunched several joint initiatives that focus on waste
reduction and renewable energy. For additional details
on climate-related governance, strategy, risks andopportunities, please see our TCFD report in Appendix 4.

NatureThermo Fisher is committed to protecting the world’s
natural resources by preserving freshwater resources
and managing waste.

Water
Water is vital to life, and we aim to understand the risks
associated with our impact on water scarcity and water
quality. Our approach includes the following priorities
and our first near-term target:• Renewable Thermal Collaborative, a coalition
that shares best practices among industry peers forphasing out fossil fuel usage• Assess water usage for current water-intensive 51
manufacturing facilities in water scarceareas by 2024

• US Environmental Protection Agency (EPA) GreenPower Partnership, a program that encourages theuse of greener power to protect human health andthe environment; Thermo Fisher is proud to be listed
among the National Top 100• Conduct annual water scarcity assessments tomanage our evolving risks and impacts, and adapt,if needed, as water stressors shift• BioPhorum, a membership organization thatfacilitates global industry collaboration to accelerate
sustainability progress within the biopharmaceuticaland device sectors; in 2022, we actively contributed
to the development and publication of BioPhorum’s
Environmental Sustainability Roadmap

2022 Corporate Social Responsibility Report• Strive to ensure our wastewater discharges comply
with applicable laws and regulations, as well as
our internal standards, with an emphasis on active
pharmaceutical ingredients (APIs)• Continue to baseline our operational water use to
inform future targets and improve reporting
In 2022, our annual water scarcity assessment was
conducted using WWF’s (World Wide Fund for Nature)

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53

Water Risk Filter tool. While we monitor the water usageof facilities in high- or very high-scarcity water basins,the assessment results showed four sites that areconsidered water intensive51—these have been prioritized
for assessment. For these facilities, we will assess water
usage and reduction opportunities in the coming years.
For more information, please see our TCFD report inAppendix 4.
Across the Company, water withdrawal, excluding
non-contact cooling water, decreased by 4% in 2022
compared to the previous year. One notable highlightcomes from our pharma services business, which
installed a water reclamation system at our new Plainville,
Massachusetts, site. This process is anticipated tocapture and reuse up to 20,000 cubic meters of water
per year, equivalent to the volume of eight Olympic
swimming pools.
This past year we also began collecting water discharge
data to better understand our water consumption. See
the Data summary for water data.

Pharmaceuticals in the environment
We are working to eliminate the risk of adverse
environmental impacts from wastewater discharge witha specific focus on operations that manage APIs. As
mandated by regulatory requirements or determined byrisk assessments, we require the collection and proper
disposal of the first cleaning rinse of equipment usedin the manufacturing or handling of APIs to mitigate therelease of known toxins and potent pharmaceuticals into
the environment.

Waste
We have set a new waste target that will support our
net-zero journey and aim to have 30 zero-waste certified
manufacturing and warehouse sites by 2025.
In 2022, we updated our definition of zero waste,52 raising
our internal standard for sites to achieve this designation.
2022 Corporate Social Responsibility Report

Our approach considers both the waste hierarchy
outlined by the US EPA and the GHG emission potentialof different disposal methods. This puts an initial focus on
reducing the use of natural resources in our operations,followed by shifting high-emission disposal methods.
Reusing and avoiding
Composting and non-thermal
waste-to-energy
Lowemissions

RecyclingHighemissions

Wastewater treatment
Waste-to-energy
Incineration
Landfill• A
 t our Pleasanton, California, site we improved
wastewater treatment by diverting 1,100 gallons of
non-hazardous water so it would not be combinedwith hazardous solvent waste, which reduced
hazardous waste generation and prevented theincineration of water.

Working in partnershipTo support our customers in reducing waste frompurchased products and packaging, the Fisher Scientificchannel offers several reusable packaging and recycling
programs.54 These include the FisherPak™ Reusable
Solvent Delivery System with single 200-liter reusable
containers that can replace nearly 200 pounds ofpackaging waste; the Fisherbrand Pipette Tip Box
recycling program; and the TerraCycle Zero Waste Box™
platform for safety equipment and PPE (personal
protective equipment) recycling.

Under our new methodology, 14 sites across theCompany are certified zero waste, and we achieved a
50% non-hazardous waste diversion rate away fromhigh-emission disposal methods in 2022. See theData summary for waste data.

2022 highlights• W ith a 60-year history, Gibco is a trusted and leadingcell culture brand in labs around the world. At oursite in Inchinnan, UK, we switched from destructive
to non-destructive quality assurance testing of Gibco
bottles. As a result, we generate significantly lessmanufacturing waste because bottles are put backinto production after testing.
• T hrough our corporate e-waste disposal program,
7,800 electrical assets were refurbished for reuse and10,000 assets 53 were recycled, avoiding over 3,500
MTCO2e in raw materials and new production.

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54

Design for Sustainability
We leverage the power of innovation to positively contribute to a healthier world, which
includes reducing the environmental impact of our products and packaging—from design
to end of life. By incorporating environmental sustainability principles into each design step,
we can better understand and reduce the environmental impact of our products early inthe design process, ultimately delivering on our net-zero ambition while helping customers
advance their sustainability goals.

In 2022, we elevated our DfS approach, positioning our R&D organization to expand,accelerate and standardize how environmental considerations are embedded into
product development. Our strategy is focused on five key impact areas: less hazardous,
less waste, more energy efficient, responsibly packaged and extended life. As theCompany’s strategic center for the latest in greener innovation, our DfS program
deploys critical training, tools and resources that continue to increase the rigor of ourlongstanding efforts in sustainable design.

Our DfS criteriaLesshazardous• Reduces use of otherhazardous materials• Generates lesshazardous waste• Reformulated, no longer
requiring the Transportationof Dangerous Goods
classification

Less
waste

Responsibly
packaged

Extendedlife• Made with less material

For instruments• Requires no or less packaging

For instruments• Reduces use ofother materials• Operates with less energy• Shipped ambient instead ofcold chain• Designed as upgradeable
to extend life

• Packaging is reusable• Returnable (viatakeback program)• Contains recycled content• Contains content fromrenewable resources• Free of ozone depleting
substances

Invitrogen™ Platinum™ Direct
PCR Universal Master Mix

More energy
efficient

Thermo Scientific™ DynaSpin™
Single-Use Centrifuge

2022 Corporate Social Responsibility Report

thermofisher.com/csr• Meets publicly recognized
standard for energy
efficiency
For chemicals• Packaging is degradable orrecyclable• Readily recyclable• Reactions do not require
external temperature control

For plastic
consumables/reagents• Reagents designed forambient storage• Reusable and returnable

Thermo Scientific™
TSX Series Ultra-Low
Temperature Freezers• Readily recyclable

Gibco™ BenchStable™
Cell Culture Media

Invitrogen™ iBlot™ 3
Western Blot Transfer Device

55

Feature story

Packaging and transport

New greener product lines
The following examples showcase greener product linesthat were among those introduced in 2022 to bring moresustainable options to our customers.
Invitrogen Platinum Direct PCR Universal Master Mix,
used in genotyping and sequencing applications,is designed to amplify DNA directly in samples
without the need to purify DNA; use of the producteliminates the need for a number of hazardous
chemicals and generates 99% less plastic waste than
traditional methods.
Thermo Scientific DynaSpin Single-Use Centrifuge, usedin the production of therapeutics and vaccines, provides
an improved and streamlined solution for large scale
cell culture harvesting; using the product generates up
to 69% less filter waste and up to 74% less liquid waste
versus traditional depth filtration methods.

We design our packaging to maintain the quality andperformance of our products and to minimize waste
and emissions from transport whenever possible. To
lower both our customers’ and our own environmental
impact, we are continuing to evolve our packaging
strategy by increasing recycled content and recyclability
and shifting to more sustainable bio-based plastic or
paper material. We are also reducing packing material
whenever possible, expanding the use of returnable
packaging systems and optimizing packaging design fortransport efficiency.
This approach incorporates recent progress from thedevelopment of our award-winning paper cooler, which
is a direct replacement for expanded polystyrene in cold
chain shipping. In 2022, Thermo Fisher shipped morethan 600,000 paper coolers globally. We are actively
expanding use of this greener packaging solution.

2022 highlights• D eveloped a five-year roadmap using the DfS
framework to accelerate our priorities• U pdated our greener product criteria for continuedalignment with evolving customer and industry
advances; to earn the greener product label, products
must meet these criteria in at least one of our fiveimpact areas 55• L aunched a pilot on product life-cycle
assessments (LCAs)• Implemented a program to evaluate the use ofrecycled and bio-based plastic in new products2022 Corporate Social Responsibility Report

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Life-cycle
assessment project
An LCA measures the environmental impacts
of a product or service through all thestages of its life cycle—from raw material
extraction/processing, through manufacturing,
distribution, use, recycling and final disposal.
LCAs can enable data-driven decision making
in the product development process that
advances our DfS strategy.
Our mass spectrometer products are used
to identify, quantify and study molecules invarious applications, including proteomics,
drug discovery and development,
environmental analysis, forensic analysis, andmaterials science. In 2021, Thermo Fisher
initiated a project to evaluate the raw materials,
components and energy used to make each
unit to better understand how to reduce theenvironmental impact of this product line.
In 2022, we continued this work by conducting
an LCA.56 We learned that most of the life-cycle
emissions occur during the product’s use (fromenergy and argon gas consumption), followedby air transportation, and printed circuit board
assembly and aluminum materials. Theseand other key insights from the assessment
will help guide and prioritize our future efforts
as we explore emerging technologies andpractices that can further inform our approachto reduce the overall environmental impact ofour products.
56

Empowering customers to make more sustainable purchases

Working in partnership

We strive to make it easier for our customers tounderstand the environmental impacts of products to
help them make the best purchasing decisions as we
provide robust buying options to support their needs.
Through our own greener product labels, backed bygreen claims documentation, and third-party certifiedlabels, customers can quickly identify products thatmeet their sustainability criteria.

Lab’s ACT Environmental Impact Factor Label program,which provides customers with third-party verified
information about the environmental impact of laboratory
products. In 2022, Thermo Fisher labeled an additional
56 products, raising our total to 526—more labels
than all other companies combined. A full listing of
ACT-labeled products is available on the My GreenLab website.

Transparency with external labeling

Fisher Scientific Greener Choice program

In addition to our own greener product program, weparticipate in third-party labeling systems to further aid
our customers in making informed purchasing decisions
when choosing responsibly designed products.

Our dedication to transparency does
not stop with our own products. The
Fisher Scientific Greener Choice
Greener
program allows customers to find
Choice icon
lab products that meet one or moreenvironmental benefits listed in the US Federal Trade
Commission’s Green Guides. Through the Fisher
Scientific channel, we offer more than 6,000 Greener
Choice products, which are easily identified by adistinctive icon across our global platforms.

Our collaboration with My Green Lab, an independent
nonprofit, continued in 2022. In addition to our ongoinguse of the ACT label and annual support of their Freezer
Challenge, we participated in the organization’s green
lab certification program. Through this initiative, we
improved the environmental sustainability practices
for a pilot group of our labs. We achieved our first
11 My Green Lab Certifications and our laboratory
team in Cork, Ireland, received the highest available
certification rating. On average, our labs increased
their score between the initial and final assessmentsby 50%, demonstrating our teams’ ability to reimagine
and advance sustainability practices by leveraging our
PPI Business System, which supports a continuous
improvement mindset. More than 150 Thermo Fisher
scientists participated in our My Green Lab Certification
pilot in 2022.

For laboratory refrigerators and freezers, the US EPA
ENERGY STAR™ program helps purchasers identify
energy efficient products. Thermo Fisher offered morethan 200 ENERGY STAR-certified models in 2022.
For select laboratory equipment, chemicals andconsumables products, we participate in My Green57

Endnotes
SectionPage

Endnote No.

Note

Highlights

5

1

Exact target is 50.4% from a 2018 baseline. Our 2018 Scope 1 and 2 market baseline is 807,341 metric tons of carbon dioxide equivalent(MTCO2e).

Highlights

52This figure may not match the one found in the Data summary due to rounding.

Our Company

103

The Invitrogen Genexus Dx instrument and the Invitrogen Oncomine Dx Express Test are currently available as CE-IVD only.

Our CSR
commitment

12

4

CDP is a nonprofit organization that runs the global disclosure system for investors, companies, cities, states and regions to assess theirenvironmental impacts.

Our CSR
commitment

125

EcoVadis is a recognized global provider of sustainability assessments, ratings and scorecards, covering sustainability practices across fourareas: Environment, Labor and Human Rights, Ethics and Sustainable Procurement.

Our CSR
commitment

15

6

Our Annual Report on Form 10-K, CSR Report and Proxy Statement also facilitate engagement and are relevant to all key stakeholder groups.

Our CSR
commitment

16

7

In this report, when we use the terms “material,” “materiality” and similar terms, we are using such terms to refer to topics that reflect oursignificant economic, environmental and social impacts or to topics that are important to stakeholders and our business success. We are
not using these terms as they have been defined by or construed in accordance with the securities laws or any other laws of the US or any
other jurisdiction, or as these terms are used in the context of financial statements and financial reporting, and nothing in this report should beconstrued to indicate otherwise.

Our CSR
commitment

16

8

Relevant information about our 2020 in-depth materiality assessment is available on page 11 of our 2020 CSR Report.

Our CSR
commitment

179This indicator is calculated based on the number of ethics and compliance courses completed out of the number of ethics and compliancecourses assigned to all colleagues.

Operations

23

10

cGMP refers to the current Good Manufacturing Practice regulations enforced by the Food and Drug Administration.

Operations

24

11

There are cases where one or the other will apply depending on our production technology.

Operations

25

12

Includes manufacturing, warehouse and laboratory campus locations. Excludes offices, service depots and research clinics.

Operations

25

13

The lost-time injury rate represents the number of lost-time injuries or illnesses occurring at Thermo Fisher per 100 full-time workers. Lost time isdefined as one or more days away from work due to a work-related injury or illness.

Operations

25

14

The total recordable injury rate represents the number of recordable injuries or illnesses occurring at Thermo Fisher per 100 full-time workers.
Recordable injuries are defined by US OSHA and include injuries resulting in one or more of the following: a fatality, lost work days, restricted
work days, loss of consciousness, medical treatment beyond first aid, or a significant injury or illness diagnosed by a physician or other licensed
healthcare professional.

Operations

26

15

Defined as sites with a total insured value (TIV) that’s greater than $28 million.

Operations

27

16

EcoVadis is a recognized global provider of sustainability assessments, ratings and scorecards, covering sustainability practices across fourareas: Environment, Labor and Human Rights, Ethics and Sustainable Procurement.

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58

Section

Page

Endnote No.

Note

Operations

28

17

The CDP Supply Chain program allows member companies to engage their suppliers to help catalyze action toward a sustainable net-zero,deforestation-free and water-secure world through a global disclosure system. The program is managed by CDP, a nonprofit organization thatruns the global disclosure system for investors, companies, cities, states and regions to assess their environmental impacts.

Operations

28

18

By spend. For the two indicators presented in this table, suppliers with science-based climate targets tracks progress toward our 2027 Scope 3
emissions target, while suppliers committed to set a science-based climate target represents the pipeline of suppliers that may support future
progress.

Operations

28

19

Our supplier diversity classifications are aligned to US government and industry standards.

Colleagues

30

20This figure may not match the one found in the Data summary due to rounding.

Colleagues

30

21

Gender and other diversity reporting is based on colleagues who voluntarily self identify.

Colleagues

30

222021 data does not include our clinical research business.

Colleagues

30

23

Executive management includes vice president roles at all levels of our organization.

Colleagues

30

24

Leadership roles include managers at all levels of our organization.

Colleagues

30

25

Other than White and may include Asian, Black, Hispanic, Indigenous and/or multiracial.

Colleagues

33

26

Does not include colleagues from our newly acquired clinical research business.

Colleagues

33

27

Results based on October 2021 data.

Colleagues

3528This figure represents regular and fixed-term colleagues hired externally between January 1, 2022 and December 31, 2022. This includes
conversions from contingent workers to colleagues. This does not include vacancies filled internally or colleagues who joined us through an
acquisition.

Colleagues

37

29

Associate talent represents our colleagues who are non-salaried, hourly workers.

Communities

41

30

These figures may not match those reported in the Data summary due to rounding.

Communities

45

31

The annual month-long STEM (science, technology, engineering and math) education campaign described previously in this section is part ofthese involvement campaigns.

Communities

46

32

Source: Global HIV & AIDS statistics fact sheet | UNAIDS

Communities

46

33

Source: Estimated number of people (all ages) living with HIV | who.int

Communities

46

34

Source: HIV drug resistance fact sheet | who.int

Environment

48

35

Exact target is 50.4%.

Environment

48

36

Requires at least 90% reduction against the base year (2018 for Scope 1 and 2, 2021 for Scope 3) with long-term removal of any residual
emissions generated after the target date.

Environment

48

37

By 2024, we will assess water usage for current water-intensive manufacturing facilities in water-scarce areas. Water intensity means a facility
using over 25,000 cubic meters of freshwater per year.

Environment

48

38

Zero waste means less than 10% of non-hazardous waste is sent to landfill, incineration or waste-to-energy facilities.

Environment

50

39

Exact target is 50.4% from a 2018 baseline. Our 2018 Scope 1 and 2 market baseline is equivalent to 807,341 MTCO2e.

Environment

50

40

Our targets were validated by the Science Based Targets initiative (SBTi) in April 2023.

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59Section

Page

Endnote No.

NoteEnvironment50

41

CDP is a nonprofit organization that runs the global disclosure system for investors, companies, cities, states and regions to assess theirenvironmental impacts.

Environment

50

42

EcoVadis is a recognized global provider of sustainability assessments, ratings and scorecards, covering sustainability practices across fourareas: Environment, Labor and Human Rights, Ethics and Sustainable Procurement.

Environment

50

43Percentages may not add up due to rounding. Our Scope 1 and 2 emissions are represented by direct energy and refrigerants and indirectenergy. Our Scope 3 emissions cover purchased goods and services, capital goods, transportation and distribution, fuel- and energy-related
activities, waste, commuting, business travel, use of products sold, and end-of-life treatment.

Environment

5144This figure may not match the one found in the Highlights section or the Data summary due to rounding.

Environment

51

45

Fossil-fuel free means greater than 99% of the energy consumed came from renewable sources.

Environment

51

46

These sites are Carlsbad, California, USA; Waltham, Massachusetts, USA; and Vilnius, Lithuania.

Environment

51

47

Began operating in April 2023.

Environment

51

48

Anticipated commercial operation date is December 2025.

Environment

52

49

Sustainable aviation fuel (SAF) use based on a book-and-claim chain of custody. In aviation, the book-and-claim model means SAF is not
physically transported and entered into the specific aircraft of the seat purchased. Instead, it goes into the fuel system at an airport close
to the SAF production facility. The volume of SAF that is produced and entered into the hydrant system is tracked and verified, after whichcorresponding greenhouse gas (GHG) emissions factors are calculated and allocated to the organization purchasing the claim.

Environment

52

50

The 80% reduction calculation is based on the well-to-wake life cycle. Well-to-wake means the direct and indirect GHG emissions occurring fromthe combustion of aviation fuel, as well as upstream GHG emissions related to extraction, refining, production, and transportation.

Environment

53 and 54

51

Water intensity means a facility using over 25,000 cubic meters of freshwater per year.

Environment

54

52

Zero waste is defined as less than 10% of waste disposal to landfill, incineration, or waste-to-energy facilities, excluding regulated wastes.

Environment

54

53

These are electrical or electronic assets, including laptops, phones, printers and servers.

Environment

54

54

Available in select regions.

Environment

56

55

Documentation of environmental claims are made publicly available by product.

Environment

56

56This was an internal screening LCA based carbon footprint to inform the early design stages of our mass spectrometers.

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60

Awards
2022 recognition
Award

Recognizing entity

Award

Recognizing entity

100 Best ESG Companies

Investor’s Business Daily

Best Place to Work for LGBTQ Equality

Human Rights Campaign

2021 Company of the YearBusiness Outlook

Campus Forward Award

RippleMatch

America’s Most Responsible Companies

Newsweek

R&D 100 Award

R&D World Magazine

America’s Best Employers for Veterans

ForbesROL100Indiggo / Forbes

America’s Best Employers for Women

ForbesTop 100 Internship Programs

WayUp

Best Place to Work for Disability Inclusion

Disability:IN

World’s Top Female-Friendly Companies

Forbes61

Data summary
We are continuously working to enhance our reporting practices and provide a consolidated view of select performance indicators organized around the pillars of our CSR strategy.
Many of these indicators are being included for the first time in our CSR report.

Governance
Description

Operations (continued)
Unit

2021*

2022

GeneralAnnual revenue$USD Billions

39.21

44.92

R&D investment$USD Billions

1.4

1.5

Board diversity1

Description

Unit

2021*

2022

Regulatory inspections with zero
findings6

%

45

53

Sites adhering to cGMP and/or certified
to ISO 9001, ISO 13485 standards7

%

93

93

Recalls issued globally

#

48

35

Board members

#

12

11

Total reportable recalls8

#

36

22

Women board members

#

3

3

Racially and ethnically diverse
board members2

#

3

3

Products listed in the Food and Drug
Administration’s (FDA) MedWatch Safety
Alerts for Human Medical Products
database#

00Consent decree

#

0

0

FDA warning letters issued

#

0

0

Form 483

#

7

6

#

0.20

0.21

#

0.45

0.43

Ethics
Ethics and compliance training
completion rate†, 3

%

98

99

*Unless otherwise noted, 2021 data does not include our clinical research business.
†
This indicator or set of indicators is being included in this report for the first time.
1. Board diversity information comes from our 2023 Proxy Statement, which shows directors who will standfor election at the 2023 Annual Meeting of Shareholders in May. Jim Manzi will not stand for reelection.
2. Other than White and may include Asian, Black, Hispanic, Indian, Indigenous and/or multiracial.
3. This indicator is based on the number of ethics and compliance courses completed out of the number of
ethics and compliance courses assigned to all colleagues.

FDA enforcement actions taken in
response to violations of cGMP, by typeEnvironmental, health and safety
Lost-time injury rate9
Total recordable injury rate

10

Operations

Responsible sourcing

Unit

2021*

2022

Direct material spend assessed forenvironmental, social and governance(ESG) performance11

%

31

50

Observation rate for government agency,
regulatory oversight4

#

2.5

2.6

Suppliers with a science-based target,by spend12

%

6

13

Observation rate for Thermo Fisher
internal regulatory oversight5

#

5.3

5.9

Suppliers committed to setting ascience-based target, by spend12

%

9

10

Diverse and small supplier spend13$USD Billions

2.0

2.0

Description
Quality2022 Corporate Social Responsibility Report

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62

*Unless otherwise noted, 2021 data does not include our clinical research business.
4. This figure represents the average number of observations per inspection.
5. This rate represents the average number of observations per our internal quality management system audit
process.
6. We define regulatory inspections as inspections conducted by any government agency.
7. cGMP refers to current Good Manufacturing Practices.
8. Includes voluntary and involuntary recalls.
9. The lost-time injury rate represents the number of lost time injuries or illnesses occurring at Thermo Fisher
per 100 full-time workers. Lost time is defined as one or more days away from work due to a work-related
injury or illness.
10. The total recordable injury rate represents the number of recordable injuries or illnesses occurring at
Thermo Fisher per 100 full-time workers. Recordable injuries are defined by the US Occupational Safety
and Health Administration and include injuries resulting in one or more of the following: a fatality, lost workdays, restricted work days, loss of consciousness, medical treatment beyond first aid, or a significant injury
or illness diagnosis by a physician or other licensed healthcare professional.
11. Direct materials spend only.
12. Addressable spend includes all spend in Purchased Goods and Services, Scope 3 Category 1 and Capital
Goods, Scope 3 Category 2. The boundary is companies reporting a science-based target via the Science
Based Targets initiative (SBTi), CDP, EcoVadis, or their corporate website as of December 31, 2022.
13. This figure represents our direct and indirect spend with diverse suppliers and qualified small businesses in
the US. It includes spend from approved commercial and individual subcontracting plans.

Colleagues
Description

Colleagues (continued)
Description

Unit

2021*

2022

Undisclosed, part time

%

0

0

Women in US colleague population

%

42

50

Women in executive management roles
in US18%

35

37

Women in leadership roles in US19

%

38

47

Racially and ethnically diverse colleagues
in US20%

39

39

Racially and ethnically diverse colleagues
in executive management roles in US18, 20

%

23

23

Racially and ethnically diverse colleagues
in leadership roles in US19, 20

%

30

30

Business Resource Groups (BRGs)

#

9

9

#

242

250

%

52

45

Diversity and inclusion15, 16, 17

Unit

2021*

2022

Local BRG chapters#

91,767

127,732

Talent16

Total colleague population14

Colleague population by region as percentage of total population

Positions filled by internal candidates

Americas

%

52

52

Global leadership hires filled internally

%

48

51

APAC

%

15

16

%

39

21

EMEA

%

33

Global leadership hires who are
women15, 19, 21

32

Colleague population by gender as percentage of total population

15

Male

%

57

49

Female%40

46

Not disclosed

%

3

5

Colleague population by employment type, by gender as percentage of total
population15
Male, full time

%

55

48

Male, part time

%

1

1

Female, full time

%

39

44

Female, part time

%

2

2

Undisclosed, full time

%

3

5

2022 Corporate Social Responsibility Report

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19*Unless otherwise noted, 2021 data does not include our clinical research business.
14. Our colleague population figures are reported as of December 31, 2022, based on actual headcount.
15. Gender and other diversity reporting is based on colleagues who voluntarily self-identify.
16. These indicators use a trailing twelve-month calculation.
17. These indicators are only relevant to our US colleague population.
18. Other than White and may include Asian, Black, Indian, Hispanic, Indigenous and/or multiracial.
19. Executive management include vice president roles at all levels of our organization.
20. Leadership roles include managers at all levels of our organization.
21. This indicator does not include our clinical research business data for 2021 or 2022.

63

Communities

Environment (continued)

Description

Unit

2021*

2022

Description$USD Millions

5.1

5.8

Scope 1 + 2, market

Volunteer hours donated to thecommunity23

Hours

105,000

123,809

Students reached through STEM
programs24#

100,000

89,570

Educators reached through STEM
programs25

#

6,600

4,804

Number of STEM events26

#

1,050

848

Colleague and matching gift donations

22*Unless otherwise noted, 2021 data does not include our clinical research business.
22. Contributions made above the $1,500 match cap along with donations made to religious or politicalorganizations are not matched by Thermo Fisher.
23. This figure represents the total amount of hours tracked for both Company-sponsored volunteer events andpersonal volunteer time logged by colleagues in our Community Impact Portal.
24. Students reached include those benefiting from a STEM-related donation, as well as those participating in
STEM events sponsored by Thermo Fisher or any of the nonprofit partners we support.
25. Educators reached include those benefiting from a STEM-related donation, as well as those participating in
STEM events sponsored by Thermo Fisher or any of the nonprofit partners we support.
26. STEM events are planned interactions between a Thermo Fisher colleague(s) and a student or group of
students engaging in science, technology, engineering or math learning activities.

Environment
Description

Unit

2021

2022

Design for Sustainability

Unit

2021

2022

MTCO2e661,365

606,229

%

18.1

24.9

MTCO2e12,791,743

12,568,651

Purchased goods and services(category 1)‡

MTCO2e8,430,136

8,332,494

Capital goods (category 2)‡

MTCO2e395,372

321,795

Upstream/downstream energy andwater-related activities (category 3)‡

MTCO2e157,392

142,240

Upstream transportation anddistribution (category 4)‡

MTCO2e1,361,472

1,346,259

Waste generated in operations(category 5)‡

MTCO2e93,09982,807

Business travel (category 6)‡

MTCO2e52,695125,280

Colleague commuting and work fromhome (category 7)‡

MTCO2e418,621417,373

Upstream leased assets (category 8)

MTCO2e00

Downstream transportation anddistribution (category 9)31

MTCO2e—31—31Processing of sold products(category 10)

MTCO2e‡Scope 1 and 2 reduction since 2018
(Target: 50.4% by 2030)
Scope 3‡

Not relevant

ENERGY STAR certified products27

#

250

205

Use of sold products (category 11)‡

MTCO2e1,824,340

1,741,229

ACT labeled products

#

470

526

Greener product categories28

#

60

63

End of life treatment, sold products(category 12)‡

MTCO2e58,617

59,174

Downstream leased assets(category 13)

MTCO2eNot relevantFranchises (category 14)

MTCO2eNot relevant

Investments (category 15)

MTCO2eNot relevant

Climate29, 30
Metric tons
CO2e (MTCO2e)

350,244

351,834

Stationary (fossil fuels)†

MTCO2e257,256

256,544

Mobile (fossil fuels)†

MTCO2e66,24365,815

Refrigerants†

Scope 1‡

Value chain emissions(Scope 1 + 2, market, + 3)

MTCO2e13,453,108

13,174,881

MTCO2e26,74629,475‡

MTCO2e311,121

254,395

Scope 1 greenhouse gas (GHG)
intensity†

MTCO2e / M$USD revenue

8.9

7.8

Scope 2, location‡

MTCO2e443,181

416,928

Scope 2 GHG intensity†

MTCO2e / M$USD revenue

7.9

5.7

Scope 2, market

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64

Environment (continued)
Description

Environment (continued)

Unit

2021

2022

Description

Scope 1 + 2 GHG intensity

MTCO2e / M$USD revenue

16.9

13.5

Sites with onsite renewable generationor energy storage

Scope 3 GHG intensity

MTCO2e / M$USD revenue

326

280

Value chain GHG intensity

MTCO2e / M$USD revenue

343

293

Customer GHG allocation(Scope 1 + 2 + upstream 3)32

MTCO2e / M$USD revenue

295

253

MTCO2e382

Carbon avoidance offsets outside
value chain†, 33

1,019

Energy 29, 30

Unit

2021

2022

#

9

10

	Water withdrawal excluding
non-contact cooling water†

Million cubic
meters (m3)

7.4

7.1

	Water withdrawal including
non-contact cooling water

Million m3

20.1

19.8

		
Groundwater†

Million m3

0.8

1.2

Million m

3

12.7

12.7

			Non-contact cooling water

Million m

3

12.7

12.7

		Municipal (potable)†

Million m3

6.6

5.9

Water29, 30

		 Fresh surface water†

Total energy use‡

MWh2,822,163

2,840,226

		Renewable energy

MWh351,841446,304

Water recycling and reuse†

Million m3

0.002

0.022

MWh

351,841446,304

Water consumption

Million m

3

1.9

2.2

				Onsite generation‡

MWh10,814

9,545

Million m3

0.0

0.1

				
Contract(VPPA, green tariff, supply)‡		Consumption in water
scarce areas†, 36

MWh218,659

209,398

Million m3

18.2

17.6

		Groundwater injection

Million m

3

0.1

0.1

		Surface water

Million m

3

12.8

13.5

			Non-contact cooling water†

Million m3

12.7

12.7

		Municipal†

Million m3

5.4

4.1

m / M $USD
revenue

47.9

48.8

			Renewable electricity‡†

Water discharges†				
Environment attributecertifications‡, 34

MWh		Non-renewable energy‡MWh2,470,322

2,393,922

			Fossil fuels (gas, oil, diesel)‡

MWh

1,522,012

1,529,019

			Municipal steam + hot water‡MWh59,001

55,483

			Non-renewable electricity‡MWh889,309809,420

MWh / M
$USD revenue

72

63

%

28

36

Sites powered by 100% renewableelectricity

ReusedMetric tons

10,840

10,661#

72

153

CompostMetric tons

1,200

834

Renewable energy

%

12

15

RecycleMetric tons

36,04831,636#1

20

Offsite wastewater treatment

Metric tons

2,843

2,252

12,924

Non-thermal energy recovery

Metric tons

305

305

Metric tons

15,906

13,407

Energy intensity
Renewable electricity

Fossil-fuel free facilities35
Onsite renewable generation‡

Onsite renewable generation capacity

MWhMW

2022 Corporate Social Responsibility Report

122,368

13,985
7.3

thermofisher.com/csr

227,361

7.7

†

†

3

Water consumption intensity
Waste29, 30
Non-hazardous waste

Thermal waste to energy

†

†

65

Environment (continued)
Description

Unit

2021

2022

Incineration

Metric tons

2,964

2,964

Landfill

Metric tons

18,82924,140Metric tons / M$USD revenue

2.30

1.90

Reuse/recycling/compost

%

54

50

Waste to landfill diversion

%

79

72

Certified zero-waste sites37

#

7

14

Reuse

Metric tons

2,645

3,486

RecycleMetric tons

1.06

1.05

Offsite wastewater treatment

Metric tons

6,643

6,645

Waste to energy

Metric tons

20,642

20,505

Incineration

Metric tons

15,993

8,977

Landfill

Metric tons

1,346

1,240

Non-hazardous waste intensity

Hazardous and biohazardous waste†

30. Data presented herein includes restated environmental data for the 2021 reporting year(s) to reflect thebaseline adjustment related to the acquisition of PPD on December 8, 2021, and several methodology
improvements including but not limited to:		 –	Updated economic environmental input-output factors from UK Department for Business, Energy &Industrial Strategy
		 –	Inclusion of primary supplier data for upstream/downstream transportation and distribution
		 –	Inclusion of country level detail for use of sold products
		 –	Operational data collection improvements
31. Spend-based analysis is currently unable to separate upstream and downstream transportation anddistribution. Figures presented in upstream transportation and distribution represent both upstream anddownstream emissions.
32. Value includes Scope 1, 2 and Scope 3 (categories 1, 2, 3, 4, 5, 6, 7, and 8). Emissions from othercategories are already captured in the customer’s Scope 1, 2, and downstream Scope 3 and therefore notincluded.
33. This indicator does not include 88 and 130 MTCO2e of carbon removal credits that were purchased andretired in 2021 and 2022, respectively, using technologies such as biochar. In accordance with the SBTi
Net-Zero Standard, carbon offsets and credits are not considered in the emission values presented inthis report.
34. Environmental attribute certificates retired include unbundled Green-e certified Renewable Energy
Certifications (REC), EECS AIB Guarantees of Origin, and International RECs to match electricity usage inthe US/Canada, Europe, China, India, and South Africa.
35. A fossil fuel-free facility is defined as having greater than 99% of total energy consumed from renewableenergy sources.
36. Water scarce areas were identified using the WWF Water Risk Filter tool.
37. Zero waste is defined as the diversion of less than 10% of waste to landfill, incineration, or waste-to-energy
facilities, excluding regulated wastes.

This indicator or set of indicators is being included in this report for the first time.
This 2022 indicator has gone through a limited assurance process.
27. We continue to participate in the US EPA Energy Star program and use the ENERGY STAR symbol to makeit easy for our customers to identify and purchase energy-efficient products that help them reduce energy
costs and emissions caused by inefficient energy use. Our total number of ENERGY STAR-labeled products
in 2022 was lower than the previous year due to the retirement of products and the consolidation of SKUs.
28. Each greener product category consists of multiple products within a product line—all of which sharethe same environmentally beneficial feature(s). To help make labs more environmentally sustainable, wehave designed these products to minimize the use of hazardous chemicals, minimize waste and material
consumption and/or increase energy efficiency.
29. Environmental data in this table covers all worldwide operations, including manufacturing facilities,
warehouses, offices, laboratories, commercial fleets, and consolidated subsidiaries. The scope ofenvironment data presented in this report includes operations that we control. Where data is not available,
estimations based on regional energy intensity factors or other existing data is used.
Historical data may be subject to revision due to data source restatements and updates to methodology.
There may be differences in baseline and subsequent reporting year values due to changes in the businessthat require baseline adjustments conducted in accordance with the Greenhouse Gas Protocol.
Environmental data is baseline adjusted using reporting boundaries per the World Resources Institute (WRI)
Greenhouse Gas Protocol Corporate Reporting Standard (the revenue component of intensity values is notbaseline adjusted).
†‡

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Appendices
Appendix 1: UN Sustainable Development Goals (SDGs)
At Thermo Fisher, as members of the UN Global Compact, we support the UN 2030 Agenda. The following table is a representative list of our contributions to the SDGs. We
recognize the interconnections among SDGs, and, for highlighted initiatives that contribute to multiple goals, we have categorized them based on the strongest strategic alignment.
Sustainable
Development Goals

Ensure healthy lives andpromote well-being for all
at all ages.

Strategic alignment

2022 featured contributions

Our Mission is to enable ourcustomers to make the world
healthier, cleaner and safer.
Our products and services
are designed to contribute to
the health and well-being of
humanity and benefit society
globally.

We support scientists, healthcare professionals and society in understanding the causes of disease, improving diagnoses and bringing
new therapies to patients faster. We are hopeful that one day personalized and affordable treatments will be available everywhere foreveryone who needs them.

We see particular alignment
with target 3b, which
supports the research anddevelopment of vaccinesand medicines and provides
access to affordable andessential vaccines andmedicines.

Advancing cancer research – To enable our customers, we provide innovative technologies and scientific expertise to help unlock
the genetic-level causes of cancer to predict and prevent it, improve diagnoses and enable faster drug discovery, clinical trials andproduction. For example, in 2022, together with Oncocyte, we embarked on a new initiative to increase access to precision medicine
through the development and comarketing of two next-generation sequencing (NGS) assays on our Ion Torrent Genexus System.
Genomic testing can have a dramatic impact on patient care, especially when results are available quickly to support early clinicaldecision making. By democratizing genomic profiling, we can spread the benefits of precision medicine to more patients.
Helping in the global fight to defeat HIV – Joining forces with customers and communities, we leverage our capabilities to help
remove obstacles to healthcare. In 2022, we launched our HIV drug resistance (HIV-DR) genotyping kit for a fraction of the price oftypical kits in qualifying low- and middle-income countries (LMICs). These kits help determine whether a person living with HIV has amutated form of the virus that does not respond to antiretroviral therapy. This product has already positively impacted lives in more than
25 LMICs. Additional information on this initiative is available on page 46 of this report.
Expanding structural biology research – Thermo Fisher collaborated to create the first cryo-tomography center in Latin America tostudy and develop treatments for neurodegenerative diseases, protein defects, chronic heart and kidney diseases, and cell therapy
using Thermo Scientific™ Cryo Tomography and SPA Workflows: Thermo Scientific™ Krios™ G4 Cryo-Transmission TEM and Thermo
Scientific™ Aquilos™ 2 Cryo-FIB.
Detecting pesticides in food – Our new ion chromatography tandem mass spectrometry (IC-MS) workflow solution for regulatorycompliant, cost-effective and reliable analysis of quaternary ammonium pesticides (Quats) was released for laboratories performing
food safety analyses. The new Thermo Scientific™ Dionex™ IonPac™ CS21-Fast-4m ion exchange column enabled scientists todetermine and quantify four cationic pesticides—diquat, paraquat, mepiquat and chlormequat—easily and accurately.

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Sustainable
Development Goals

Ensure inclusive and equitable
quality education and promote
lifelong learning opportunities
for all.

Strategic alignment

2022 featured contributions

We are helping to ignite thespark that will inspire the next
generation of innovators.
As the world leader inserving science, we want tostrengthen our future talentpipeline by stimulating young
people’s interest in science,technology, engineeringand math (STEM) throughhands-on and inclusive
learning. We deliver on
this commitment throughour investments in STEM
partnerships and colleague
involvement programs.

We work in collaboration with others who share our passion for unleashing students’ potential and enthusiasm for STEM subjects in all
corners of the world.
Increasing STEM access and equity – By collaborating with others, we can increase our impact and reach even more students,
stimulating their interest and enthusiasm for STEM subjects.
• Since 2016, our partnership with Boys & Girls Clubs of America (BGCA) has connected youth who are historically underserved withhigh-quality learning experiences that inspire them to pursue a career in STEM. In 2022, we increased STEM access and equity bysupporting BGCA’s DIY STEM program for students and STEM training pathways for the organization’s club staff. We maximized
our impact through volunteer opportunities that engaged many of our colleagues who are dedicated to sparking student curiosity
in these fields.
• Since 2018, Thermo Fisher has been partnering with the Salaam Bombay Foundation in India to unlock the potential of more than
3,000 middle and high school students to date, particularly in underserved communities. In 2022, a significant milestone wasachieved when four alumni who had never left their local communities were selected to represent India among 179 competing
global teams at the FIRST (For Inspiration and Recognition of Science and Technology) Global Challenge in Geneva, Switzerland.
• In 2022, we launched the Thermo Fisher Scientific Junior Innovators Challenge, becoming the new title sponsor of Society for
Science’s premier middle school STEM competition in the US. The challenge is expected to reach more than 65,000 students
annually through local, state and regional STEM fairs.
Expanding access to real-world scientific applications – In 2022, we piloted a virtual, real-time PCR diagnostics simulation at no
cost to undergraduates. Students from around the world, 43% of whom self-identified as first-generation college students, participatedin the interactive experience, progressing through the curriculum by completing tasks at their own pace.
Advancing innovation and access with the University of California San Diego – We announced a 10-year partnership with theuniversity that will establish a state-of-the-art facility to expand access to cutting-edge technologies and expertise while accelerating
collaboration, discovery and workforce development for students and alumni. The collaboration will support the development of adiverse life sciences talent pipeline, in part, by continuing an existing internship program for UC San Diego students at our Carlsbad,
California, site.
Additional information about our efforts in advancing STEM education is available on pages 42 through 44 of this report.

Ensure access to affordable,
reliable, sustainable andmodern energy for all.

One of the key tenets ofour net-zero strategy is toaccelerate the adoption ofrenewable electricity. We
are transitioning away fromfossil fuels and increasing
renewable electricity
procurement and onsite solar
installations.

Procuring renewable electricity is central to our near-term strategy to reduce our greenhouse gas emissions. As we strive toward
net-zero emissions by 2050, we plan to transition most locations globally to renewable energy over time. In 2022, we:• Increased our procurement of renewable electricity, with 36% of global electricity coming from renewable sources.
• Signed two virtual power purchasing agreements, which will add over 900,000 megawatt hours (MWh) of clean electricity to
the grid and cover 100% of our current US electricity needs by 2026. This marked an important milestone that supports thedevelopment of new clean energy infrastructure, while also supporting the decarbonization of our value chain:    • 90-megawatt (MW) share of Enel North America’s Seven Cowboy wind project in Oklahoma, which began operating in
April 2023 (an eight-year agreement)    • 200-MW Millers Branch Solar project in Texas, developed by EDF Renewables and planned to begin operating in
December 2025• Added on-site solar panels across three sites (Carlsbad, California, USA; Waltham, Massachusetts, USA; and Vilnius, Lithuania),
increasing our onsite solar and wind capacity to nearly 8 MW.
Additional information about our net-zero strategy is available on pages 48 through 53 of this report.

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Development Goals

Promote sustained, inclusive
and sustainable economic
growth, full and productive
employment and decent work
for all.

Strategic alignment

2022 featured contributions

We manage our global
operations ethically and withintegrity to positively impact
the people and communities
linked to our business. By
providing fulfilling careers
across the globe, we support
equity and opportunity
for those historicallyunderrepresented in the life
sciences industry specificallyor the workforce generally.

Our success is connected to our ability to attract, develop and retain the brightest talent by embracing a culture where everyone
belongs, colleagues’ voices are heard, and the opportunities and benefits offered allow our colleagues to build rewarding careers.

Our vibrant and inclusive
culture connects ourcolleagues and helps themgrow together as one
global team.

Upholding human rights and equal opportunity – We are committed to respecting human rights for all people by conducting
business with the highest ethical standards and in compliance with applicable laws and Company policy. We are guided by principles
set forth in the Thermo Fisher Human Rights and Equal Opportunity Policy, which establishes our standards for business conduct
related to human rights and fair labor practices across our global operation.
Protecting human health and the environment – The Thermo Fisher Environmental Health and Safety (EHS) Policy outlines ourcommitment to protecting the environment, and the health and safety of our colleagues, customers and the communities where we
operate. Our policy incorporates the principles of continuous improvement, sustainability and transparency, and all colleagues are
responsible for upholding our EHS values and meeting compliance requirements.
Investing in meaningful early talent attraction and acquisition – These programs—for students who will become future scientists,
engineers, business leaders and managers—are part of our approach to identify the skills and roles needed for the future. Early talentand the emergent capabilities they possess help build a talent pipeline prepared to meet tomorrow’s challenges while offering roles well
suited to their expertise.
Managing a socially and environmentally responsible supply chain – Fulfilling our Mission requires a large supply base across ourglobal network. The Thermo Fisher Supplier Code of Conduct outlines our expectations for suppliers, partners and their subcontractors
in the areas of ethics, labor, health and safety, and environment and management systems, including modern slavery and humantrafficking.
Supporting sustainable economic development – Across our global footprint, we take a localized approach to economic
development and job creation. As we continue to implement our growth strategy, during 2022, we executed on the accelerated
investments we’ve made over the last three years, bringing new capacity online for pharma services, bioproduction and clinicalresearch services. Through new and expanded operations, we strengthen our capabilities for our customers while expanding the
economic opportunities in our communities. For example:• In Richmond, Virginia, we invested $97 million to expand clinical research operations, supporting increased demand foraccelerated drug development and consistent, high-quality laboratory services. Over the next three years, we expect to add nearly
150,000 square feet and more than 500 new colleagues.
• In Plainville, Massachusetts, we opened a new, sustainably constructed production facility to expand cell and gene therapy
capabilities with a $180 million investment that supports process development, transfer and manufacturing of gene therapies andvaccines. The plant began operating with 125 colleagues and plans to add 200 more colleagues within the next two years.
Additional information on our approach to human rights, EHS, responsible sourcing and talent management is available on
pages 18, 25, 26 and 34 of this report.

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Sustainable
Development Goals

Build resilient infrastructure,promote inclusive andsustainable industrializationand foster innovation.

Strategic alignment

2022 featured contributions

Our focus on high-impact
innovation enables ourcustomers to addresssome of the world’s
greatest challenges. As wedeliver new technologies
and services, we help
our customers develop
and scale major scientificadvancements.

Through our commitment to high-impact innovation, we deliver groundbreaking technologies that enable our customers’ transformativework.

The depth of our capabilities
and our Practical Process
Improvement (PPI) Business
System allow us to advance
product, infrastructure
and process sustainability.
Through our scale and reach,
we support the capacity of
local researchers to further
advance scientific discovery
and effectively foster local
industry.

Our investment of $1.5 billion in R&D facilitated the delivery of new technologies that are helping our customers achieve their goals.
Globally, our breakthroughs are driven by more than 5,000 scientists and engineers, and we’ve been issued more than 7,500 patents
over the last five years.
Analytical instruments• In chromatography and mass spectrometry, we extended our industry-leading Thermo Scientific™ Orbitrap™ portfolio, launching the
Thermo Scientific™ Orbitrap™ Ascend Tribrid™ Mass Spectrometer to advance proteomics, metabolomics and cancer biomarker
research, which received an R&D 100 Award from R&D World, one of the most prestigious innovation awards programs in theworld.
• We launched the Thermo Scientific™ TRACE™ 1600 Series Gas Chromatograph to increase productivity in analytical testing for
food, environmental, industrial and pharmaceutical applications.
• In electron microscopy, we launched the Thermo Scientific™ Glacios™ 2 Cryo-TEM to help our customers accelerate
structure-based drug discovery for debilitating disorders such as Alzheimer’s, Parkinson’s and Huntington’s diseases, as well as
research for cancer and gene mutations.
Next-generation sequencing• We expanded on our ongoing collaboration with AstraZeneca to develop a solid tissue and blood-based companion diagnostic
test that will help identify patients with non-small cell lung cancer who may be eligible for treatment with TAGRISSO (osimertinib).
The collaboration will leverage our Oncomine Dx Express Test and our Genexus Dx System to identify tumors that exhibit specificmutations that are indicators for treatment with TAGRISSO. The Oncomine Dx Express Test and Genexus Dx System are a fully
integrated, next-generation sequencing solution that delivers results in as little as 24 hours. In the past, this type of sequencing
could take weeks.
• In clinical next-generation sequencing, we launched the CE-IVD Oncomine Dx Express Test and Oncomine Reporter Dx software
to accelerate tumor molecular profiling and more quickly pair patients with appropriate treatments and clinical trials. Designed to
run on our Ion Torrent Genexus Next-Generation Sequencing System, these products bring the power of precision medicine closer
to patients by enabling doctors to use in-house next-generation sequencing to improve care.
Bioproduction• Our Thermo Scientific DynaSpin Single-Use Centrifuge System was introduced at the BioProcess International annual conferencein Boston. The DynaSpin system improves and streamlines large-scale harvesting for cell culture separation in single-use
bioprocesses while also reducing the number of depth filtration cartridges required to complete the harvest process. The systemdelivers equivalent or improved product yield compared to traditional harvest systems while enabling operational efficiency, costsavings and sustainable practices in the production of biologics.

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Sustainable
Development Goals

Reduced inequalities within
and among countries.

Strategic alignment

2022 featured contributions

Our business policies andpractices reflect equality
and advance equity for our
stakeholders. We promote
diversity and inclusion bycreating conditions thatdrive favorable economic
and social outcomesfor groups traditionally
underrepresented within
our industry and across ourvalue chain.

Our D&I strategy is fundamental to who we are, helping to create a culture where everyone shares a sense of belonging.
Optimizing inclusive hiring – We introduced a tool that helps hiring managers write job descriptions and educates them on how
making simple wording changes can improve the quality and diversity of our applicant pool. Measured over three years, our applicant
pools and conversion rates have increased for global candidates who are women and US candidates who are racially and ethnicallydiverse.
Addressing pay equity – In 2021, we engaged a third-party firm to launch our first pay equity study of our US workforce, which
included an adjusted pay equity analysis and unadjusted median pay analysis. In 2022, we leveraged insights from the study to informour D&I strategy, implemented new measures and continued to invest in training, tools and programming to drive our progress.
Advancing racial equity and social justice – In 2022, we continued to deliver on our commitment of a $25 million impact investment
with minority-serving financial institutions that focus on Black communities and businesses. Supporting institutions that provide a
bridge to empowering the historically disenfranchised, these investments are part of the Company’s broader approach to addressing
inequalities and strengthening communities through our business practices.
Additional information about our efforts to advance inclusion and reduce inequalities, plus complete details on our pay equity studies,
are available on pages 30 through 34 of this report.

Take urgent action to combat
climate change and its impacts.

We support the urgent
calls for climate action
from scientists across theglobe. We are focused onprotecting the planet, startingwith reducing our carbon
footprint. As a responsible
business partner, we help ourcustomers advance climate
science and reduce theenvironmental impact of theirown labs and operations.

Our commitment to environmental sustainability and protecting our planet begins with our net-zero strategy, which is centered around:• Transitioning away from fossil fuels and high-impact refrigerants• Accelerating the adoption of renewable electricity• Engaging with our suppliers to amplify collective progress
Raising our commitment – In 2022, we increased our target to reduce Scope 1 and 2 emissions from 30% to 50% by 2030, from a2018 baseline. This aligns our climate strategy with the Paris Agreement and the 1.5°C pathway.
Validating our targets – Our new Scope 1 and 2 target, as well as our near-term and net-zero climate goals, have been approved by
the Science Based Targets initiative (SBTi). Thermo Fisher is one of the first companies in our sector to have a net-zero target validated
by the SBTi.
Fossil-fuel free sites and onsite renewables – By continuously monitoring and improving the way we run our operations, we are
implementing our plans to transition away from fossil fuels and advancing our net-zero strategy. In 2022, we launched a net-zerobuilding design guide for new constructions and major renovations, and established standards to eliminate the installation of new
fossil-fuel consuming equipment. More than 150 sites are powered with 100% renewable electricity, some through new purchasing of
renewable energy certificates (RECs) in China, India and South Africa.
Engaging our suppliers – We are addressing Scope 3 emissions by engaging suppliers that represent 90% of our spend from
(1) goods and services and (2) upstream transportation and distribution in setting climate-related, science-based targets by 2027.
Hundreds of our largest and most emissions-intense suppliers were invited to participate in the CDP Supply Chain program to share
information on their climate goals and progress. We also provided training and hosted meetings with key suppliers to help grow theirunderstanding of their environmental impacts.
Joining United’s Eco-Skies Alliance – As part of an initiative to decarbonize aviation, Thermo Fisher joined a first-of-its-kind programwith United Airlines through which a portion of our business travel flights will be powered by sustainable aviation fuel, reducing
emissions by up to 80% compared to traditional jet fuel.

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Sustainable
Development Goals

Strengthen the means of
implementation and revitalize
the Global Partnership for
Sustainable Development.

Strategic alignment

2022 featured contributions

We believe in the power ofcollaboration to advancescientific discovery andpositively impact society. We
work with our stakeholders,
including customers,
suppliers, governments, andindustry associations, toidentify innovative solutions
to some of the most pressing
global challenges.

Propelled by our Mission, we partner with others to accelerate collective learning and progress that positions our industry to continue
tackling current and emergent challenges. Thermo Fisher is committed to pushing science and technology a step beyond where it istoday, and we believe in the power of collaboration to amplify our positive impact on society.
Accelerating drug development and vaccine production – We announced a 15-year strategic collaboration with Moderna, Inc. toenable dedicated large-scale manufacturing of their Spikevax™ COVID-19 vaccine in the US and other investigational mRNA medicines
in its pipeline to bring more life-saving therapies to market quickly.
Establishing world-class training in DNA forensics in India – We partnered with the National Forensic Sciences University (NFSU) to
provide training and access to industry-leading solutions and products for India’s Center of Excellence for DNA Forensics. NFSU is theworld’s first and only university dedicated to forensic, behavioral, cybersecurity and applied sciences. Our partnership with Government
e-Marketplace (GeM), a new commerce platform developed by the government of India, has helped us scale the availability of ourscientific products and services.
Expanding access to critical biochemistry instruments – We worked with a biotech company to support the University of Southern
California (USC) with their new cryo-electron microscopy (cryo-EM) imaging facility on their Los Angeles, California, campus. Our
Thermo Scientific Krios Cryo-EM instrument will be shared among a broad constituency of researchers from across the life sciences
fields within universities and industries interested in applying this revolutionary technology to their work.
Enabling marine science and conservation – We are collaborating with the Florida Atlantic University (FAU) Harbor Branch
Oceanographic Institute to provide greater access to genetic analysis technologies that are essential to researching marine ecosystems
at the molecular level. The FAU Harbor Branch will provide feedback on how our platforms may be optimized for greater access by fieldresearchers on the front lines of advancing marine science and saving endangered species.
Partnering for health equity – In 2022, we launched our HIV-DR genotyping kit for a fraction of the price of typical kits in qualifying
LMICs. This product helps determine whether a person living with HIV has a mutated form of the virus that does not respond toantiretroviral therapy. Together with the Kenyan Ministry of Health and Clinton Health Access Initiative, Thermo Fisher was part of apublic-private partnership effort that resulted in the ministry updating its HIV Prevention and Treatment Guidelines to incorporate a newrequirement for HIV-DR patient testing to more efficiently determine the best course of treatment for people living with HIV.
Convening key stakeholders to advance STEM education – Thermo Fisher commemorated back-to-school season by bringing
our community development partners together with US government officials, including the chair of the Congressional STEM Education
Caucus. On Capitol Hill in Washington, DC, we engaged some of the country’s key decision makers in hands-on experiences that
exposed them to real-world applications of our products, how we embed those technologies in our programs to advance STEM
education access and equity, and the impact of our collaborations with BGCA and Society for Science in support of national goals tonurture the diverse STEM workforce of the future.
Climate and sustainable design partnerships – To mitigate the impacts of climate change, we believe in working together with ourcustomers, peers, suppliers and other stakeholders. Featured strategic partnerships allowed us to collaborate with biomanufacturing
and clinical trial industry peers on emerging environmental trends.
• Pistoia Alliance’s Clinical Trial Environmental Impact Community is focused on quantifying the greenhouse gas (GHG)
impact of decentralized clinical trials and identifying key levers to reduce those impacts, and we are proud to serve on thesteering committee.
• BioPhorum facilitates a global industry collaboration between member companies to accelerate sustainability progress withinbiopharmaceuticals. In 2022, we actively contributed to the development and publication of BioPhorum’s Environmental
Sustainability Roadmap.
• Renewable Thermal Collaborative shares best practices among companies, institutions, and governments committed to scaling
up renewable heating and cooling at their facilities, dramatically cutting carbon emissions and phasing out fossil fuel usage.

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Appendix 2: Global Reporting Initiative (GRI) Index
Statement of use: Thermo Fisher has reported the information cited in this GRI index for the period of January 1, 2022 to December 31, 2022, with reference to the GRI Standards,
GRI 1: Foundation 2021.
GRI standard

Disclosure

Location

GRI 2: Generaldisclosures 2021

2-1 Organizational details

2022 Form 10-K – Cover page2022 CSR Report – Our Company, page 6 through 11

2-2 Entities included in the organization’s sustainability
reporting2022 Form 10-K – Notes to Consolidated Financial Statements, Nature of Operations and Summary of Significant
Accounting Policies, Note 1, page F-10
– Exhibit 21, Subsidiaries of the Registrant, page 152

2-3 Reporting period, frequency and contact point2022 CSR Report – About this report, page 3
Frequency: Annual

2-4 Restatements of information

2022 CSR Report – About this report, page 3– Endnotes, page 58– Data summary, pages 62 through 66

2-5 External assurance

2022 Assurance Statement
2022 CSR Report – About this report, page 3

2-6 Activities, value chain and other business relationships

2022 Form 10-K – Business, pages 3 through 9– Notes to consolidated financial statements: Revenue and Contract-related Balances, Note 3,
page F-20
2022 CSR Report – Our Company, pages 6 through 11– Operations, Responsible sourcing, pages 26 through 28
2022 Annual Report on Form 10-K – Revenue profile, page 3

2-7 Employees

2022 Form 10-K – Human capital, page 72022 CSR Report – Our Company, pages 6 through 11– Colleagues, pages 29 through 39– Data summary, Colleagues, page 63

2-8 Workers who are not employees

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GRI standard

Disclosure

Location

GRI 2: Generaldisclosures 2021

2-9 Governance structure and composition

2023 Proxy Statement – Corporate governance, pages 8 through 22, 24 and 25
2022 CSR Report – Our CSR commitment, Corporate governance, pages 13 through 14
Corporate By-laws
Corporate Governance Guidelines
Governance Documents
Board Committee Composition
Nominating and Corporate Governance Committee Charter, page 2
Audit Committee Charter, page 6

2-10 Nomination and selection of the highest
governance body2023 Proxy Statement – Corporate governance, pages 14 and 15

2-11 Chair of the highest governance body2023 Proxy Statement – Board leadership structure, page 17

Corporate Governance Guidelines, pages 3 through 8 and 13
Corporate Governance Guidelines, pages 5 and 6

2-12 Role of the highest governance body in overseeing themanagement of impacts

Nominating and Corporate Governance Committee Charter, page 22023 Proxy Statement – Corporate governance, pages 20 through 222022 CSR Report – Corporate governance, page 13

2-13 Delegation of responsibility for managing impacts

2022 CSR Report – Corporate governance, CSR oversight and management, page 14

2-14 Role of the highest governance body in sustainability
reporting2022 CSR Report – Corporate governance, pages 13 through 142023 Proxy Statement – Board committees, pages 18 and 19
Nominating and Corporate Governance Committee Charter, page 2
Audit Committee Charter, page 6

2-15 Conflicts of interest

Code of Business Conduct & Ethics

2-16 Communication of critical concerns

Corporate Governance Guidelines, page 122023 Proxy Statement – 2022 Shareholder engagement, pages 7 and 23– 2022 Board engagement, page 20

2-17 Collective knowledge of the highest governance body2023 Proxy Statement – Director nominee skills and experience, page 9– 2022 Board engagement, page 20
Corporate Governance Guidelines, page 11

2-18 Evaluation of the performance of the highest
governance body2023 Proxy Statement – Annual evaluation process, page 16

2-19 Remuneration policies

2023 Proxy Statement – Compensation of directors, pages 26 and 27– E xecutive compensation, Compensation discussion and analysis, pages 30
through 33, 43

Corporate Governance Guidelines, page 12

Corporate Governance Guidelines, page 10
2-20 Process to determine remuneration

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2023 Proxy Statement – Compensation of directors, pages 26 and 27– E xecutive compensation, Compensation discussion and analysis, pages 32
through 53

74

GRI standard

Disclosure

Location

GRI 2: Generaldisclosures 2021

2-21 Annual total compensation ratio

2023 Proxy Statement – CEO pay ratio, pages 54 through 57

2-22 Statement on sustainable development strategy

2022 CSR Report – CEO letter, page 4– CSR strategy, page 12– Human rights, page 18

2-23 Policy commitments

2022 CSR Report – Our Company, page 6– Our CSR commitment, page 12– Ethics, page 17– Human rights, page 18– Appendix 6, page 84

2-24 Embedding policy commitments

2022 CSR Report – CSR strategy, page 12– Corporate governance, page 13 and 14– Ethics, page 17– Human rights, page 18
2023 Proxy Statement – Corporate Social Responsibility, pages 4 and 5

2-25 Processes to remediate negative impacts

2022 CSR Report – Ethics, page 17

2-26 Mechanisms for seeking advice and raising concerns

2022 CSR Report – Ethics, page 17– Diversity and inclusion, page 31

2-28 Membership associations

Memberships and associations list

2-29 Approach to stakeholder engagement

2022 CSR Report – Stakeholder engagement, page 15– Materiality assessment, page 16
2023 Proxy Statement – 2022 shareholder engagement, pages 7 and 23

GRI 3: Material
topics 2021

3-1 Process to determine material topics

2022 CSR Report – Materiality assessment, page 16– Stakeholder engagement, page 15
2020 CSR Report – Materiality assessment and stakeholder engagement, page 16

3-2 List of material topics

2022 CSR Report – Appendix 5, Material issue definitions– Materiality assessment, page 16
2020 CSR Report – Materiality assessment and stakeholder engagement, page 16

Economic topics
3-3 Management of material topics: Innovation

2022 CSR Report – Innovation, page 10– Data summary, Governance, page 62– Appendix 1, UN Sustainable Development Goals, page 70– Appendix 5, Material topics definitions, page 83
2023 Proxy Statement – 2022 performance, page 62022 Form 10-K – R isk factors, Business risks, page 11
Patents, licenses and trademarks, page 52022 Corporate Social Responsibility Report

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GRI standard

Disclosure

Location

Environmental topics
GRI 3: Material
topics 2021

3-3 Management of material topics: Climate change

2022 CSR Report – Climate, pages 50 through 53– Appendix 1, UN Sustainable Development Goals, pages 68 through 71– Appendix 5, Material topics definitions, page 83
2022 Assurance Statement
2022 CDP Report
EHS Policy
EHS Management System
Environment
Performance and Disclosure

GRI 302: Energy
2016302-1 Energy consumption within the organization

2022 CSR Report – Data summary, Environment, page 64– Climate, pages 50 through 53
2022 CDP Report302-3 Energy intensity

2022 CSR Report – Data summary, Environment, page 642022 CDP Report302-4 Reduction of energy consumption

2022 CSR Report – Climate, pages 50 through 53
2022 CDP Report

GRI 305:
Emissions 2016305-1 Direct (Scope 1) GHG emissions

2022 CSR Report – Data summary, Environment, page 64– Climate, pages 50 through 53
2022 Assurance Statement
2022 CDP Report305-2 Energy indirect (Scope 2) GHG emissions

2022 CSR Report – Data summary, Environment, page 64– Climate, pages 50 through 53
2022 Assurance Statement
2022 CDP Report305-3 Other indirect (Scope 3) GHG emissions

2022 CSR Report – Data summary, Environment, page 64– Climate, pages 50 through 53
2022 Assurance Statement
2022 CDP Report305-4 GHG emissions intensity

2022 CSR Report – Data summary, Environment, page 642022 CDP Report305-5 Reduction of GHG emissions

2022 CSR Report – Climate, pages 50 through 53
2022 CDP Report

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GRI standard

Disclosure

Location

3-3 Management of material topics: Benefits andwell-being

2022 CSR Report – Benefits and well-being, pages 38 through 39– Appendix 1, UN Sustainable Development Goals, page 69– Appendix 5, Material topic definitions, page 83

Social topics
GRI 3: Material
topics 2021

2022 Form 10-K – Human capital, Total rewards, pages 8 and 9
Colleagues – Well-being
Total Rewards
GRI 401:
Employment2016

401-2 Benefits provided to full-time employees that are notprovided to temporary or part-time employees

2022 CSR Report – Benefits and well-being, pages 38 through 39
2022 Form 10-K – Human capital, Total rewards, pages 8 and 9
Colleagues – Well-being
Total Rewards

GRI 3: Material
topics 2021

3-3 Management of material topics: Talent management

2022 CSR Report – Colleagues, pages 29 through 39– Talent management, page 34– Appendix 1, UN Sustainable Development Goals, page 69– Appendix 5, Material topic definitions, page 83
2022 Form 10-K – Human capital, Talent development, page 8
TalentStudents & New Graduates

GRI 404: Training
and education
2016404-2 Programs for upgrading employee skills and transition
assistance programs

GRI 3: Material
topics 2021

3-3 Management of material topics: Diversity andinclusion

2022 CSR Report – Talent management, page 34
2022 Form 10-K – Human capital, Talent development, page 8
Talent development
Human Rights and Equal Opportunity Policy
2022 CSR Report – Colleagues, Diversity and inclusion, pages 31 through 38– Appendix 1, UN Sustainable Development Goals, pages 68, 69 and 71– Appendix 5, Material topic definitions, page 83
2022 Form 10-K – Human capital, Diversity and inclusion, pages 7 and 82023 Proxy Statement – Enhancing the diversity of our Board, page 15
Diversity and inclusion

GRI 405:
Diversityand equal
opportunity 2016405-1 Diversity of governance bodies and employees

2023 Proxy Statement – Enhancing the diversity of our Board, page 15– Corporate governance, page 82022 CSR Report – Data summary, Governance, page 62– Colleagues, pages 29 through 39

405-2 Ratio of basic salary and remuneration of women
to men2022 CSR Report – Colleagues, Diversity and inclusion, pages 31 through 38– Data summary, Colleagues, page 63
2021 UK Gender Pay Gap Report
2022 France Gender Pay Gap Report
2022 Ireland Gender Pay Gap Report

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GRI standard

Disclosure

Location

GRI 3: Material
topics 2021

3-3 Management of material topics: Communities

2022 CSR Report – Communities, pages 40 through 46– Data summary, Communities, page 64– Appendix 1, UN Sustainable Development Goals, page 68 and 71– Appendix 5, Material topic definitions, page 83
Communities
STEM Education
Our Giving
The Just Project
Volunteer Impact
Global Health Equity

GRI 413: Local
communities
2016413-1 Operations with local community engagement, impact
assessments and development programs2022 CSR Report – Communities, pages 40 through 46
Communities
STEM Education
Our Giving
The Just Project
Volunteer Impact
Global Health Equity

GRI 3: Material
topics 2021

3-3 Management of material topics: Product safety andquality2022 CSR Report – Operations, Quality, pages 23 through 27– Appendix 5, Material topic definitions, page 83
Quality Policy
Quality Management
ISO Certifications

GRI 416:
Customer healthand safety 2016416-2 Incidents of non-compliance concerning the healthand safety impacts of products and services

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Appendix 3: SASB Index – Medical equipment & supplies
Table 1. Sustainability disclosure topics & accounting metrics
Topic

Accounting metric

Reference

Affordability & pricing

HC-MS-240a.1 Ratio of weighted average rate of net price increases (for all
products) to the annual increase in the US Consumer Price Index

Omission

HC-MS-240a.2 Description of how price information for each product isdisclosed to customers or to their agentsOmission

HC-MS-250a.1 Number of recalls issued, total units recalled

2022 CSR Report – Data summary, Operations, page 62

HC-MS-250a.2 List of products in the Food and Drug Administration’s (FDA)
MedWatch Safety Alerts for Human Medical Products database2022 CSR Report – Data summary, Operations, page 62

HC-MS-250a.3 Number of fatalities related to products as reported in the FDA
Manufacturer and User Facility Device Experience

Omission

HC-MS-250a.4 Number of FDA enforcement actions taken in response toviolations of current Good Manufacturing Practices (cGMP), by type

Omission

HC-MS-270a.1 Total amount of monetary losses as a result of legal
proceedings associated with false marketing claims

Omission

HC-MS-270a.2 Description of code of ethics governing promotion of off-label
use of products2022 CSR Report – Our CSR commitment, Healthcare Code of Conduct, page 20

HC-MS-410a.1 Discussion of process to assess and manage environmental
and human health considerations associated with chemicals in products, andmeet demand for sustainable products2022 CSR Report – Environment, pages 55 through 57

Product safety

Ethical marketing

Product design & lifecycle
management

Governance & Ethics – Ethics, Compliance, and Responsible Sales & Marketing
Practices

Environment, Health & Safety (Hazard identification and risk management)
Responsible Products and Services
Sustainable Product Design

HC-MS-410a.2 Total amount of products accepted for takeback and reused,recycled, or donated, broken down by: (1) devices and equipment and (2)supplies

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TopicAccounting metric

Reference

Supply chain management

HC-MS-430a.1 Percentage of (1) entity’s facilities and (2) Tier I suppliers’
facilities participating in third-party audit programs for manufacturing andproduct quality

2022 CSR Report – Operations, Responsible sourcing, pages 26

HC-MS-430a.2 Description of efforts to maintain traceability within the
distribution chain

2022 CSR Report – Operations, Responsible sourcing, pages 26
Global Supply Chain (Responsible sourcing and Modern slavery act)
2021 Conflict Minerals Report
Thermo Fisher Scientific Conflict Minerals Statement
Thermo Fisher is a member of the Responsible Minerals Initiative (RMI). The RMI uses
an independent third-party assessment (Responsible Minerals Assurance Process,or RMAP) of smelter/refiner management systems and sourcing practices to validate
conformance. The RMAP standards were developed to meet the requirements of
the OECD Due Diligence Guidance and the US Dodd Frank Wall Street Reform andConsumer Protection Act (Conflict Minerals). The assessments help Thermo Fisher
make informed decisions about responsibly sourced minerals in our supply chain.

Business ethics

HC-MS-430a.3 Description of the management of risks associated with theuse of critical materials

Resilient Supply

HC-MS-510a.1 Total amount of monetary losses as a result of legal
proceedings associated with bribery or corruption

Omission

HC-MS-510a.2 Description of code of ethics governing interactions withhealthcare professionals

2022 CSR Report – Our CSR commitment, Healthcare Code of Conduct, page 20

2022 Form 10-K – Resources, page 5– Operational Risks, pages 12 to 14

Governance & Ethics – Ethics, Compliance, and Responsible Sales & Marketing
Practices
Thermo Fisher Code of Business Conduct and Ethics

Number of units sold by productcategory

HC-MS-000.A

Omission

Topic

Accounting metric

Reference

Number of units sold by productcategory

HC-MS-000.A

Omission

Table 2. Activity metrics

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Appendix 4: Task Force on Climate-Related Financial Disclosures Statement
We are committed to doing our part in tackling the climate crisis and exploring opportunities for our business by transitioning to a low-carbon economy. All our business operations
worldwide are in scope, unless otherwise stated, and the activities described were conducted from January 1 to December 31, 2022. This framework has been introduced with arisk-based approach focused on the most material risks and opportunities. For further disclosures on our approach to climate change, our CDP response is available at cdp.net/en.

Governance
Describe the Board’s oversight of climate-related risks and opportunities
The Nominating and Corporate Governance Committee (the Committee) of the Boardof Directors oversees strategy, risks, opportunities, and external reporting related
to corporate responsibility and sustainability by reviewing and discussing relevant
regulatory, governance, market or other trends within the scope of the Committee’s
oversight, including those related to climate. In coordination with the committee, theAudit Committee of the Board oversees public disclosures on these matters in the
Company’s SEC filings as well as the data quality related to such reporting.

Describe management’s role in assessing and managing climate-relatedrisks and opportunities
Our Company leadership team is responsible to the Board for the management,
development and performance of our business. Together with our chairman, president
and CEO, the Company leadership team oversees climate, risk management, operations
and finance, reviewing plans, risks and results on a quarterly basis. Tiered sustainability
committees are embedded within the organization and ladder up to the Company
leadership team. Reporting to the chief financial officer, the senior vice president, global
business services, is responsible for the implementation of our climate-related strategy.

Strategy
Describe the climate-related risks and opportunities the organization has
identified over the short, medium and long term
See our 2022 CDP Climate Change response for our assessment of physical andtransitional risks and opportunities.

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Describe the impact of climate-related risks and opportunities on theorganization’s businesses, strategy, and financial planning
Our risk management process has identified short-term risks and impacts; acutephysical risk due to increased severity and frequency of extreme weather events
contributing to increased capital expenditures; and chronic physical risk due to changes
in precipitation patterns and extreme variability in weather patterns contributing toincreased insurance claims liability.
In 2023, our priority is to integrate our climate scenario analysis into the overall
enterprise risk management process. This will help us better understand the potential
impact of physical and transitional risks across low-, medium- and high-casescenarios based on the Intergovernmental Panel on Climate Change’s Representative
Concentration Pathways. Risk types that will be considered include current andemerging regulation, technology, legal, market, reputation, acute physical, and chronic
physical risk.

Describe the resilience of the organization’s strategy, taking into
consideration different climate-related scenarios, including a 2°C or
lower scenario
Climate scenario analysis will inform the resilience of our current climate strategy
and help identify if further strengthening is needed based on different climate-related
scenarios.
Our short- and long-term strategies are linked to our climate targets, which are in linewith the 1.5°C pathway and validated by the Science Based Targets initiative (SBTi).
These targets support our Company strategy in two key areas—developing high-impact,
innovative new products and delivering a unique value proposition to our customers.

81

Risk management
Describe how processes for identifying, assessing and managing
climate-related risks are integrated into the organization’s overall risk
management
To inform the wider enterprise risk management process of any specific risks andopportunities posed by climate change and the transition to a low-carbon economy,
we review insurance reports outlining flooding, wildfires and extreme weather risks for
all Company facilities. Site-specific mitigation plans are developed to manage identified
risks. In 2022, Thermo Fisher spent $1.6 million related to these plans.
In 2023, our priority is to integrate climate scenario analysis into the overall enterpriserisk management process to help us understand the potential impact of physicaland transitional risks across low-, medium- and high-case scenarios based on theIntergovernmental Panel on Climate Change’s Representative Concentration Pathways.

Describe organization’s processes for managing climate-related risks
Climate science is clear. Urgent action is needed to avoid the worst impacts of climatechange, which Thermo Fisher has prioritized as core to our Mission and integral to
our business and sustainability strategies. In 2022, the Company announced a new
2030 greenhouse gas emissions reduction target to cut Scope 1 and 2 emissions fromoperations by 50.4% from a 2018 baseline. We are on track to achieve our previous
2030 goal of a 30% reduction ahead of schedule.
Our climate target fulfills our pledge to align our climate strategy with the Paris
Agreement to limit global temperature increase to 1.5°C. This represents an importantmilestone in our pursuit of a net-zero value chain by 2050, which includes Scope 1, 2
and 3 targets that have been validated by the SBTi.
To manage climate-related risks, we are actively developing our operational roadmap to
a net-zero value chain. Our approach includes:• T ransitioning away from fossil fuels and accelerating the adoption of renewableelectricity to power our facilities. Currently, more than 150 Thermo Fisher sites
across the globe use 100% renewable electricity. Additionally, we entered into
two agreements—one with Enel North America and one with EDF Renewables—that will enable us to power all of our current US sites with 100% renewableelectricity by 2026.
• E
 ngaging with 90% of suppliers–our largest source of Scope 3 emissions–to set science-based targets by 2027. To help reduce emissions across our global
value chain, we launched our climate engagement program for suppliers in 2022. To
date, 13% of our suppliers by spend have set a science-based target, and another
10% have committed to set a science-based target.
• D esigning products with the environment in mind. Our ENERGY STAR-certified
products and greener product alternatives help scientists advance sustainability inthe lab by minimizing the use of hazardous chemicals, decreasing waste and material
consumption, and increasing energy efficiency.
As our net-zero roadmap evolves, we continue to frame our approach toward a broader
range of emissions sources such as our fleet, waste generation, transportation andbusiness travel. With insights in these areas, our colleagues and other stakeholders are
critical partners in helping us achieve our goals.

Metrics and targets
Recommended disclosure

Response

Disclose the metrics used by the organization toassess climate-related risks and opportunities inline with its strategy and risk management process.

See pages 64 and 65 of this report.

Disclose Scope 1, Scope 2, and, if appropriate,
Scope 3 GHG emissions, and the related risks.

See pages 64 and 65, CDP for additional details.

Describe the targets used by the organization to
manage climate-related risks and opportunities andperformance against targets.

See page 48, CDP for additional details.

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See pages 50 through 52 of this report for near-term and long-term targets.
•	The Compensation Committee of the Board oversees pay for performance, including the achievement of our nonfinancial strategic
environmental, social and governance (ESG) targets, one of which is to reduce our GHG emissions. Its inclusion in our executive compensation
program underlines the importance we place on delivering a 50% reduction in our Scope 1 and Scope 2 emissions by 2030.

82Appendix 5: Material issue definitions
The table below presents how we define our priority, material issues.
In this report, when we use the terms “material,” “materiality” and similar terms, we are using such terms to refer to topics that reflect our significant
economic, environmental and social impacts or are important to stakeholders and our business success. We are not using these terms as they havebeen defined by or construed in accordance with the securities laws or any other laws of the US or any other jurisdiction, or as these terms are usedin the context of financial statements and financial reporting, and nothing in this report should be construed to indicate otherwise.

Operations
Innovation

Promoting innovation within the workforce and offering new services/products with high added value for customers to enable
them to make the world healthier, cleaner and safer.

Product safety & quality

Ensuring that products are safe for consumers and manufactured in a way that meets appropriate quality and safety assurance
standards and applicable regulations.

Colleagues
Diversity & inclusion

Efforts to develop a Company workforce that reflects the diversity (in gender, age, etc.) in the countries of operation.

Talent management

Providing opportunities to promote professional growth and learning among new and existing colleagues, matching colleague
skills with the needs of the business and allowing for promotion within the Company and/or advancement externally in order toremain an employer of choice and retain key talent.

Communities
Community development

Programs aimed at building long-lasting local relationships and improving economic and social circumstances at the local level interritories where the Company is operating/sourcing materials.

Environment
Climate change

Reducing emissions that contribute to the greenhouse effect and other harmful environmental impacts. Improving energy
efficiency and use of renewable energy sources in our own operations and supply chain. Efforts to develop strategies to mitigate
climate change across the Company’s value chain.

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Appendix 6: Additional resources
For further information on our efforts, please see our CSR webpage and the following resources.
Corporate policies

Corporate reports

Social reporting

Environmental reporting

Code of Business Conduct and Ethics

2022 Annual Report on Form 10-K

Annual Conflict Minerals Report

2022 CDP Climate Change Questionnaire

Conflict Minerals Statement

2022 Political Contributions Report

Annual Modern Slavery Statement

2022 CDP Water Security Questionnaire

Corporate By-laws2023 Proxy Statement

2022 UK Gender Pay Gap Report

Corporate Governance Guidelines

2022 France Gender Pay Gap Report

Environmental, Health and Safety Policy

2022 Ireland Gender Pay Gap Report

Human Rights and Equal Opportunity Policy

EEO-1 Report

Political Contributions Policy
Quality Policy
Supplier Code of Conduct
UK Tax Policy

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Learn more at thermofisher.com/csr
or email us at sustainability@thermofisher.com© 2023 Thermo Fisher Scientific Inc. All rights reserved. All trademarks are the property of Thermo Fisher Scientific and its subsidiaries unless otherwise specified.
Clinton Health Access Initiative is a trademark of the William J. Clinton Foundation. Eco-Skies Alliance is a trademark of United Airlines, Inc. EcoVadis is a trademark of EcoVadis SAS. The
ENERGY STAR name and mark are registered trademarks owned by the US EPA. FIRST is a registered trademark of For Inspiration and Recognition of Science and Technology. The Greenhouse
Gas Protocol is a trademark of the World Resources Institute and the World Business Council for Sustainable Development. International Medical Corps is a trademark of International Medical
Corps. International Rescue Committee is a trademark of International Rescue Committee, Inc. Project Hope is a trademark of Project HOPE-The People-to-People Health Foundation, Inc.
Return On Leadership and ROL100 are trademarks of Indiggo LLC. Save the Children is a trademark of Save the Children Federation, Inc. Spikevax is a trademark of ModernaTx, Inc. TAGRISSO
is a registered trademark of the AstraZeneca group of companies. TerraCycle Zero Waste Box is a trademark of TerraCycle, Inc. World Central Kitchen is a trademark of World Central Kitchen,
Inc. YouTube is a trademark of Google Inc.

22-2108  DC  05/23