Commercial, GHG Emissions, Hydro, Sourcing Renewables  -  August 30, 2022

Alvotech Reaches Carbon Neutrality

Alvotech, a global biotech company specializing in developing and manufacturing biosimilar medicines for patients worldwide, announced it has achieved Scope 1 and 2 carbon neutrality.

The company said the framework for collecting and reporting disclosures for 2020 and 2021 was completed.

Details were provided in its data on environmental, social and governance (“ESG”) indicators for 2020 and 2021.

Alvotech’s corporate headquarters, purpose-built manufacturing facility and a large part of the Company’s R&D operations are located in Reykjavik, Iceland. Electrical power is generated from renewable hydro and geothermal sources and all heating for the Reykjavik area is provided from renewable geothermal sources.

“Today’s disclosure is the first step in our journey to improve our stakeholder engagement and demonstrate our commitment to corporate sustainability,” said Mark Levick, CEO of Alvotech in a statement.  “We believe a strong commitment to sustainability will make us a better partner and supplier and ultimately a better business.”