Glenmark becomes the second Indian pharmaceutical company to receive certification for ambitious GHG emissions reduction targets
Glenmark Pharmaceuticals Ltd.has reaffirmed its commitment to sustainability by joining the prestigious Science Based Targets initiative (SBTi) business ambition for keeping global warming well below 2 degrees Celsius.
Glenmark’s participation in this initiative demonstrates its dedication to addressing climate change and reducing greenhouse gas (GHG) emissions.
The SBTi has approved Glenmark’s commitment to reduce its absolute scope 1 and 2 GHG emissions by 35% from the base year of FY2021 by FY2035. This reduction target includes biogenic land-related emissions and removals from bioenergy feedstock.
Additionally, the approval extends to Glenmark’s pledge to decrease scope 3 GHG emissions from purchased goods and services, fuel and energy-related activities, downstream transportation and distribution, and investments by 28% per ton of pharmaceutical products within the same timeframe.
Achieving certification from the SBTi requires a rigorous 5-stage review process, and Glenmark is proud to become only the second Indian pharmaceutical company to receive this approval. This recognition underscores the company’s commitment to environmental sustainability and positions it on a global scale.
Glenn Saldanha, Chairman & Managing Director of Glenmark Pharmaceuticals Ltd., expressed his satisfaction with the certification, stating, “We are pleased to announce that the Science Based Targets initiative (SBTi) has validated our Green House Gas (GHG) emission targets.
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This certification gives us an impetus to further pursue our ESG (Environmental, Social, and Governance) goals while also benchmarking us at a global scale. We are proud to be the second Indian pharmaceutical company to have our targets certified by the SBTi.”
The Science Based Targets initiative (SBTi) is a collaborative effort between CDP, the United Nations Global Compact, World Resources Institute (WRI), and the World-Wide Fund for Nature (WWF). Its mission is to mobilize companies to set science-based targets that contribute to the transition to a low-carbon economy, providing them with a competitive advantage in the process. Glenmark’s participation in this initiative highlights its commitment to combat climate change and drive sustainable practices within the pharmaceutical industry.
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