Benzinga | Oct 27, 2021 07:45AM EDT

EXCLUSIVE: Agilent Technologies Reports Commitment To Achieve Net-Zero Greenhouse Gas Emissions No Later Than 2050

SANTA CLARA, Calif., Oct. 27, 2021 --Agilent Technologies, Inc. (NYSE:A)

today announced its commitment to achieve net-zero greenhouse gas

emissions no later than 2050. The commitment adds to the global effort by

governments, corporations, and other institutions to limit warming of the

climate to 1.5?C above pre-industrial levels, a goal of the 2015 Paris

Agreement on climate change.

To ensure the company achieves its net-zero goals, Agilent has also

committed to interim greenhouse gas reduction targets. By 2030, Agilent will

reduce absolute scope 1 and 2 emissions by 50%, and scope 3 emissions by

at least 30% (with a stretch goal of 40%) from a base year of 2019. Scope 1

covers direct emissions from owned or controlled sources, while Scope 2

covers indirect emissions from the generation of purchased electricity,

steam, heating and cooling consumed by the reporting company. Scope 3

includes all other indirect emissions that occur in a company's value chain.

To achieve these targets, Agilent will continue to invest in renewable energy

and focus on three areas where its carbon footprint is greatest: purchased

goods and services, sold products, and transportation and distribution.

"Agilent has been committed to sustainability and environmental protection

since our founding," said President and CEO Mike McMullen. "This

commitment to net zero is consistent with our history and our mission of

delivering insights that advance the quality of life. Agilent, with our culture of

innovation, is in a strong position to contribute important solutions to

reducing greenhouse gas emissions.



"Our commitment to net zero isn't just the 'right thing' to do. It's aligned

with our core business objectives as well."

In addition to setting interim targets for achieving net-zero greenhouse gas

emissions, Agilent is committing to the Science Based Targets Initiative's

Business Ambition for 1.5?C. This additional step will ensure that the

company's goals are aligned with scientific consensus on progress needed to

meet the Paris Agreement and in support of the UN's Race to Zero

Campaign.

To provide investors with meaningful sustainability information, Agilent is

adopting the Task Force on Climate-related Financial Disclosures (TCFD)

recommendations, which complement the Sustainability Accounting

Standards Board (SASB) guidelines Agilent introduced in 2020.

Since Agilent's creation in 2000, the company has reported on its progress in

reducing energy, waste, water, and carbon dioxide (CO) emissions every

year. Since 2014, Agilent has reduced its scope 1 and 2 CO emissions by

22%, even as the company has continued to grow.

"Our approach is about transparency, innovation, meeting our targets and

focusing on continuous improvement to reduce our carbon footprint," said

Neil Rees, vice president, Workplace Services and head of Agilent's ESG

programs. "We will report on specific strategies and targets, particularly for

engaging our suppliers and partners to reduce emissions for what we buy,

how we transport materials, and how we design our products. These goals

are a starting point. As we learn more and technologies evolve, we intend to

enhance and expand our commitment."

Environmentally conscious product design is a central feature of Agilent's

business. Agilent has engineered its instruments to improve sustainability in

a holistic way -- from product design and manufacturing to usage and

disposal. Agilent was one of the first companies in its class to be

independently audited for the environmental impact of some of its largest



product lines, including liquid and gas chromatography products and mass

spectrometers.

Several Agilent products have already received the My Green Lab

Accountability, Consistency, and Transparency (ACT) label, which provides

customers important information on the environmental footprint of products.

For seven consecutive years, Agilent has been named one of the Global 100

Most Sustainable Corporations in the World and has ranked in the top three

of Barron's 100 Most Sustainable Companies for three consecutive years.

"We view our commitment to net zero as an important and serious initiative

that will influence all aspects of our business," said McMullen. "We believe

our approach that includes interim targets, planned third-party reviews, and

a robust set of processes to ensure we achieve net zero by 2050 is

substantive, thorough and methodically designed to achieve our goals."

To learn more about Agilent's sustainability work, please see Agilent's 2020

Corporate Social Responsibility report. In addition, a fact sheet with

additional details on Agilent's net-zero commitment is available on Agilent's

website.

About Agilent Technologies

Agilent Technologies Inc. (NYSE: A) is a global leader in life sciences,

diagnostics and applied chemical markets. Now in its 20th year as an

independent company delivering insight and innovation toward improving

the quality of life, Agilent instruments, software, services, solutions, and

people provide trusted answers to customers' most challenging questions.

The company generated revenue of $5.34 billion in fiscal year 2020 and

employs 16,400 people worldwide. Information about Agilent is available at

www.agilent.com. To receive the latest Agilent news, please subscribe to the

Agilent Newsroom. Follow Agilent on LinkedIn, Twitter, and Facebook.

Forward-Looking Statements



This news release contains forward-looking statements as defined in the Securities

Exchange Act of 1934 and is subject to the safe harbors created therein. The

forward-looking statements contained herein include, but are not limited to, net

zero commitments, emissions targets and initiatives, and reporting of progress on

these targets and initiatives. These forward-looking statements involve risks and

uncertainties that could cause Agilent's results and achievements to differ

materially from management's current expectations. Such risks and uncertainties

include, but are not limited to, unforeseen changes in the demand for current and

new products, technologies, and services; customer purchasing decisions and

timing; changes in developing standards and certifications; and the cost and

availability of renewable energy and carbon removal and offset projects. In

addition, other risks that Agilent faces in running its operations include the ability to

execute successfully through business cycles; the ability to meet and achieve the

benefits of its cost-reduction goals and otherwise successfully adapt its cost

structures to continuing changes in business conditions; ongoing competitive,

pricing and gross-margin pressures; the impact of geopolitical uncertainties and

global economic conditions on its operations, its markets and its ability to conduct

business; the ability of its supply chain to adapt to changes in demand; the ability to

successfully introduce new products at the right time, price and mix; the adverse

impacts of and risks posed by the COVID-19 pandemic and other risks detailed in

Agilent's filings with the Securities and Exchange Commission, including its

quarterly report on Form 10-Q for the quarter ended July 31, 2021. Forward-looking

statements are based on the beliefs and assumptions of Agilent's management and

on currently available information. Agilent undertakes no responsibility to publicly

update or revise any forward-looking statement.