GHG Emissions, Solar, Sourcing Renewables - October 4, 2024
Piramal Pharma Boosts RE by 29%
Piramal Pharma Limited announced substantial progress in its energy efficiency efforts with a 29% increase in renewable energy consumption.
The pharmaceutical company is committed to reducing absolute Scope 1 and 2 GHG emissions by 42% and Scope 3 emissions by 25% by FY 2030, using FY 2022 as the base year as validated by the Science Based Targets initiative (SBTi).
As detailed in its annual Sustainability Report, Piramal Pharma completed energy audits at all of its sites, identifying opportunities for emission reductions through renewable energy sourcing (13%), low-carbon fuel switching (21%) and energy efficiency measures (7%).
In both India and the UK, 80% of non-hazardous waste was recycled. Additionally, the company planted 2,440 saplings and implemented 15 water-saving micro-projects in India resulting in 114 kiloliters of water savings per day.
"As we advance on our sustainability journey, we are deeply committed to transparency, accountability, and continuous improvement in our business practices," said Nandini Piramal, Chairperson of Piramal Pharma Ltd., in a statement. "Our latest Sustainability Report not only highlights the milestones we've achieved but also demonstrates our capability to adapt to evolving global standards. By revising our Scope 1 and 2 GHG emissions and energy consumption for FY 2023, we have significantly improved data accuracy, enabling us to assess and manage our environmental footprint. Looking ahead, we remain committed to driving sustainable growth; reinforcing our core purpose of 'Doing Well and Doing Good,' while strengthening our focus on making meaningful, measurable progress toward a more sustainable future."
Piramal Pharma's Sustainability report follows GRI standards and is aligned with SASSB and UNGC frameworks, underscoring the company's commitment to sustainable growth, responsible capital allocation and impactful stakeholder engagement.
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