Energy Efficiency, GHG Emissions, Industrial, Sourcing Renewables  -  May 2, 2024

Teva Pharmaceutical Sets Emissions, RE Goals

Teva Pharmaceutical Industries Ltd. announced new targets to achieve net-zero emissions across its operations and value chain by 2045 and 100% renewable electricity across all sites by 2035.

Details were published in its renewed sustainability strategy, 2023 Healthy Future Report.

“Operating in a sustainable way is the right thing to do,” said Richard Francis, Teva’s President and CEO, in a statement. “Our renewed sustainability strategy is our purpose in practice — we are all in for better health — and our 2023 Healthy Future Report shows how we are taking action and tracking progress in areas where Teva can uniquely make an impact.”

In 2023, Teva issued a second series of sustainability-linked bonds valued at $2.49 billion, bringing its total issuance to $7.5 billion. Teva was the largest issuer in the pharmaceutical sector.

Teva lowered its Scope 1 and 2 GHG emissions by 27% compared to 2019, achieving its 2025 target two years ahead of schedule. Teva also reduced its Scope 3 emissions by 12% vs. 2020, tracking strongly against its goal of a 25% reduction by 2030. The company also engaged its suppliers in reducing their emissions. 

Teva received an A- score from CDP for climate action.