Executive Summary
“Sustainability” recognizes that environmental health, social equity and economic vitality are interconnected, and all are critical in ensuring we create thriving, healthy, diverse and resilient business practices and communities for this generation and generations to come. To ensure that opportunities to carry out our business activities sustainably are identified and pursued, Tecan has a Sustainability Committee chaired by our CEO and a sustain- ability strategy that is integrated into the Group strategy. The Audit Committee of the Board of Directors has overall responsibility for the oversight of sustainability topics and priorities. Integrating sustainability considerations into business decision-making equips Tecan for long-term success, strengthening the creation of value for our shareholders and other stakeholders and reflecting our core values .
Tecan carried out a double materiality assessment in 2023, evaluating both the financial impact of external sustainability factors on Tecan’s business performance ("financial materiality") and the social and environmental impacts of Tecan’s business on society ("impact materiality"). A total of eleven material topics were identified, each of which is described in this report. Each material topic has related actions to ensure effective management of the risks and opportunities it presents. Some material topics, such as Product Quality and Safety, have long been recognized as vital to Tecan’s business and have detailed associated policies and internal measurement of achievements. Other topics, such as Circular Economy, are at an earlier stage of integration into Tecan’s business practices. This summary provides the goals and key 2024 achievements in each area. Looking ahead to 2025, Tecan will build on the achievements of 2024 to strengthen greenhouse gas emissions reduction activities and accelerate progress in transitioning to a circular economic model.
ENVIRONMENT
CLIMATE IMPACT
Focus: Reducing the greenhouse gas emissions generated by our business activities.
Goal: Overall Net Zero Target: Tecan Group Ltd. commits to reach net-zero greenhouse gas emissions across the value chain by 2050.
- Near-Term Targets: Tecan Group Ltd. commits to reduce absolute scope 1 and 2 GHG emissions 42% by 2030 from a 2022 base year. Tecan also commits to increase active annual sourcing of renewable electricity from 34% in 2022 to 100% by 2025, and to continue active annual sourcing of 100% renewable electricity through 2030. Tecan finally commits to reduce absolute scope 3 GHG emissions 42% by 2030 from a 2022 base year.
- Long-Term Targets: Tecan Group Ltd. commits to reduce absolute scope 1, 2 and 3 GHG emissions 90% by 2050 from a 2022 base year.
2024 Achievements: Increase in purchase of renewable electricity from 60% to 87%, through which Tecan reaches already the company’s 2030 near-term scope 1 and 2 GHG emissions reduction target.
CIRCULAR ECONOMY
Focus: Transitioning from a linear economic model to a circular economy, e.g. by implementing eco-design principles in product research and development, optimizing the percentage of recycled content in our products and packaging, optimizing product lifespan and identifying and pursuing other opportunities to reduce waste.
Goal: Reduced waste throughout our value chain.
2024 Achievements: Continuing progress in developing consumables products with reduced impact, including redesign of a tray to use 40% less plastic than previously.
SOCIAL IMPACT
BEING THE EMPLOYER OF CHOICE
Focus: Promoting employee learning and development, and a positive workplace culture.
Goal: Being the employer of choice in our industry.
2024 Achievements: In 2024, Tecan advanced its goal of being the employer of choice by launching the "Unleash – Your Journey, Our Commitment" program, which emphasizes employee growth and opportunities.
DIVERSITY, EQUITY AND INCLUSION
Focus: Having a work environment founded on equity and fair treatment, with processes and practices that foster equal access to opportunities for everyone, and an inclusive culture where all individuals are welcomed, respected and can thrive in a psychologically safe environment.
Goal: A diverse workforce, recognizing each individual’s uniqueness and reflecting society’s diversity at all levels.
2024 Achievements: Tecan advanced its DEI goals by launching a framework to empower Employee Resource Groups (ERGs), establishing a DEI council to foster collaboration and learning, and initiating diversity measurement and monitoring of data.
HEALTH & SAFETY
Focus: Ensuring the health and safety of Tecan’s employees.
Goal: To fully implement Tecan’s Global Health & Safety program, replacing our current local H&S systems.
2024 Achievements: Successful first surveillance audit of the ISO 45001 standard at Tecan’s Männedorf headquarters; successful health and safety audits in in Hamburg and Morgan Hill.
CUSTOMER SATISFACTION
Focus: Our customers and partners are at the core of all our business activities.
Goal: High customer satisfaction and a prompt response to
customer requests.
2024 Achievements: Tecan’s well-established After Sales Care process showed a vast majority of satisfied customers, with more than 90% describing themselves as “very satisfied” or “completely satisfied”.
GOVERNANCE
GOVERNANCE AND ETHICS
Focus: Consistently demonstrating good business practices, including in areas such as anti-bribery and anti-corruption, risk management and reporting.
Goal: Consistent adherence throughout Tecan to the spirit and provisions of our Code of Conduct.
2024 Achievements: Tecan’s Code of Conduct has been upheld throughout the company.
PRODUCT QUALITY AND SAFETY
Focus: Striving for excellence in product quality and safety by taking the time to fully understand our customers’ needs, always complying with national and international requirements, implementing those requirements in our products and our organization, and providing long-term customer care.
Goal: To continuously improve the quality of our products and processes and ensure compliance with and the effectiveness of our quality management system.
2024 Achievements: Tecan successfully hosted several external authority and more than 15 QMS certification audits, all concluding with no major findings. Notably, our production facility in Penang, Malaysia underwent a US FDA inspection, resulting with zero observations.
CYBER SECURITY
Focus: Ensuring the confidentiality, integrity, and availability of data (e.g., customer and employee data), and protecting this data from unauthorized access, use, or disclosure.
Goal: A cybersecure environment for every aspect of Tecan’s
business.
2024 Achievements: ISO 27001 certification at a key site, global process roll-out underway
INNOVATION
Focus: Provide an enabling environment for product and service innovation, from improvements to disruptive or breakthrough innovations.
Goal: Grow Tecan’s business through product and service
innovation.
2024 Achievements: Successful launch of key products in both business divisions including the solid phase extraction module Resolvex i300, the Spark© Cyto 3DAI analysis tool, which enables 3D cell biology powered by AI, allowing the monitoring of key parameters for growing spheroids or organoids in real time, and a preview of the productivity boosting multiomics liquid handling workstation Veya
RESPONSIBLE SOURCING
Focus: Managing the social, governance and environmental impacts of our procurement activities.
Goal: A value chain conforming to Tecan’s standards as set out in
our Supplier Code of Conduct.
2024 Achievements: Suppliers representing 64% of all production-related spend for Tecan’s main production sites have signed Tecan’s Supplier Code of Conduct or provided their own commitment to equivalent standards. A target to increase this to 80% in 2025 has been set.