Energy Efficiency, GHG Emissions - May 10, 2022
Teva Pharmaceutical Achieves Emission Progress
Teva Pharmaceutical Industries Ltd., a global pharmaceutical company, has expanded the integration of ESG into its business with a $5 billion sustainability-linked bond.
The sustainability-linked bond holds Teva accountable for reducing Scope 1 and 2 GHG emissions by 25% and increasing access to essential medicines for patients in low- and middle-income countries (LMICs) by 150% by the end of 2025.
The ESG Progress Report shares Teva’s progress, including how it has minimized its environmental impact across the business and value chain. Since 2019, Teva has reduced its scope 1 and 2 GHG emissions by 13%, more than half of its 2025 target.
Since 2020, the company also reduced its scope 3 GHG emissions by 5% (20% of 2030 target), increased its total proportion of energy from renewable sources by 4% (to 33%) and improved energy efficiency by 6%. In this same timeframe, it achieved an 8% reduction in both waste from operations and water withdrawal in areas projected to be in water stress.
“As one of the world's largest manufacturers of generic medicines, ESG is integral to the long-term strategy of our company and is part of everything we do," said Kåre Schultz, President and CEO of Teva, in a statement. “Our ESG Progress Report details our actions in 2021, which include issuing a $5 billion sustainability-linked bond, tying our financing strategy to access to medicines and environmental targets.”
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