The Science Based Targets Initiative (SBTi) has validated and approved the near-term greenhouse gas emission reduction targets of Indian company Piramal Pharma.
The approval marks a significant milestone in the company’s sustainability journey and aligns with the company’s motto: ‘Doing Well and Doing Good’.
This strategic move underscores Piramal Pharma’s commitment to making measurable and consistent progress towards a sustainable future.
The company has set ambitious targets to reduce absolute Scope 1 (production from resources owned or controlled by a company) and Scope 2 (production resulting from a company’s activities) greenhouse gas emissions by 42% by 2030, using fiscal year 2022 as a base year.
Piramal Pharma also aims to reduce absolute scope 3 greenhouse gas emissions from sources such as purchased goods and services, upstream transportation and distribution, fuel and energy related activities and use of sold products by 25% within the same time frame.
Nandini Piramal, Chairman, Piramal Pharma, said: “Sustainability is at the heart of our business strategy and the approval of SBTi reinforces our ongoing commitment to reduce our greenhouse gas emissions and align with global climate goals.
“This is a critical step in our broader sustainability roadmap and we are committed to playing our part in driving meaningful environmental change across the pharmaceutical industry.
“To further strengthen our commitment, we are also developing a comprehensive carbon reduction plan, which will be unveiled soon.”
With this commitment, Piramal Pharma becomes the third pharmaceutical company in India to have its emission reduction targets approved by the SBTi.
The SBTi is a joint initiative of the Carbon Disclosure Project (CDP), the World Resources Institute (WRI), the United Nations Global Compact (UNGC) and the World Wildlife Fund (WWF).
It helps companies set science-based targets to reduce emissions, providing a path to sustainable growth.
“SBTi approves Piramal Pharma’s greenhouse gas reduction targets” was originally prepared and published by Pharmaceutical technologya brand of GlobalData.
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