Glenmark Pharmaceuticals Limited, an integrated, research‐led, global pharmaceutical company, reaffirms its commitment to sustainability by joining the esteemed Science Based Targets initiative (SBTi) business ambition for well below 2°C, the company announced through an exchange filing.
The SBTi's has approved Glenmark’s commitment to reduce its absolute scope 1 and 2 GHG emissions by 35% (from a FY2021 base year) by FY2035. The target boundary includes biogenic land‐related emissions and removals from bioenergy feedstock. The approval also extends to our pledge to reduce 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.
Glenmark got certified following a rigorous 5‐stage review, and is only the second Indian Pharmaceutical company to receive this approval.
The Science Based Targets initiative (SBTi) mobilizes companies to set science‐based targets and boost their competitive advantage in the transition to the low‐carbon economy. It is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).
