CordenPharma submits greenhouse gas emission reduction targets to SBTi

CordenPharma has submitted its near-term greenhouse gas (GHG) emission reduction targets to the Science Based Targets initiative (SBTi) for approval, marking a major step in its climate action commitments.
 

As part of its sustainability efforts, CordenPharma calculated its 2023 carbon footprint using the GHG Protocol methodology, categorising emissions into three scopes to distinguish between operational and value chain emissions. The company’s carbon data was reported through the CDP (formerly known as the Carbon Disclosure Project) to ensure transparency and provide stakeholders with valuable environmental insights.

In support of its climate ambitions, CordenPharma has implemented renewable energy initiatives, including solar power installations in Lisbon, Portugal, and Fribourg, Switzerland, as well as biogas usage at its Liestal, Switzerland, facility. An investment into an offsite solar electricity park will further reduce emissions at its Colorado, USA, site.

“Taking proactive carbon emission reduction actions enhances our competitiveness in the transition to a low-carbon economy and fosters collaboration with customers to achieve their climate change goals,” said Dr Michael Quirmbach, President and CEO of CordenPharma.

Since its acquisition by Astorg in 2022, CordenPharma has benefitted from close collaboration with the private equity firm’s ESG team, accelerating its sustainability journey. The submission of near-term targets represents an important step forward in the company’s decarbonisation efforts.

“The submission of near-term GHG targets to the SBTi demonstrates a strong commitment to climate leadership, in line with our ambition to drive meaningful change,” commented Viviana Occhionorelli, Partner, ESG at Astorg.

Source: 

CordenPharma Submits Near-Term Greenhouse Gas Emission Reduction Targets to the SBTi [Accessed December 12, 2024] https://cordenpharma.com/articles/press-release-cordenpharma-submits-near-term-greenhouse-gas-emission-reduction-targets-to-sbti/