Energy Efficiency, GHG Emissions, Industrial - September 16, 2024
Piramal Pharma's Targets Approved by SBTi
Piramal Pharma Limited, a global pharmaceuticals company, has embarked on its sustainability journey as the Science Based Targets initiative (SBTi) officially validated the company's near-term GHG emission reduction targets.
This validation aligns with Piramal Pharma's core purpose of "Doing Well and Doing Good," driving its business strategies and strengthening the company's commitment to making consistent, measurable progress toward a more sustainable future.
The company committed to reduce absolute Scope 1 and 2 GHG emissions 42% by FY2030 from a FY2022 base year and to reduce absolute Scope 3 GHG emissions from purchased goods and services, fuel and energy related activities, upstream transportation and distribution and use of sold products 25% within the same timeframe. This makes Piramal Pharma the third global pharmaceutical company in India to receive approval from the SBTi.
“Sustainability is at the heart of our business strategy, and the approval from SBTi reinforces our ongoing commitment to reducing our GHG emissions and aligning with global climate action goals,” Nandini Piramal, Chairperson, Piramal Pharma Limited, said in a statement. “This is a critical step in our broader sustainability roadmap, and we are committed to doing our part in driving meaningful environmental change across the pharmaceutical industry. To further reinforce our commitment, we are also in the process of developing a comprehensive Carbon Reduction Plan, which will be unveiled soon. While we have come a long way, in many respects, our sustainability journey is just beginning."
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