Energy Efficiency, GHG Emissions - January 19, 2023
Teva’s Climate Targets Approved By SBTi
Teva Pharmaceutical Industries Ltd. announced that its targets to reduce GHG emissions have been approved by the Science Based Targets initiative (SBTi), providing external validation of the company’s commitments to minimize its environmental footprint.
A manufacturer of generic medicines, Teva’s targets validated by SBTi are to reduce Scope 1 and 2 GHG emissions by 46% by 2030 (vs. 2019) and reduce Scope 3 GHG emissions by 25% by 2030 (vs. 2020).
Scope 1 and 2 targets are integrated into Teva’s financing strategy as part of the company’s $5 billion sustainability-linked bond.
“The health of our planet is inherently linked to the health of those who inhabit it, and health is what we do at Teva,” said Amalia Adler-Waxman, Senior Vice President, Global Head, ESG and Head of Corporate Affairs of International Markets at Teva in a statement. “Our ambitious targets guide us in doing our part to promote a healthier, more sustainable future, and with SBTi’s validation, we have confirmation that they are science-based and aligned with global goals to combat climate change.”
Protecting the environment is part of Teva’s environmental, social and governance (ESG) strategy. Progress toward these goals results from efforts across Teva’s business, such as converting some manufacturing sites to 100% renewable electricity, implementing energy efficiency projects, introducing low-carbon truck fleets and electric vehicles, recycling water and making office catering and canteen services more sustainable.
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