GHG Emissions, Industrial - October 6, 2020
Dr. Reddy's joins Science Based Targets initiative
Dr. Reddy’s Laboratories announced Oct. 5 that they are targeting a 55% reduction of Scope 1 and 2 emissions by 2030 based on a FY17-18 baseline.
The company became the first Indian and third Asian pharmaceutical company to set Science-Based Targets and joined the Science Based Targets initiative. By the end of FY2020, Dr. Redy’s reduced Scope 1 emissions by 8.6% and Scope 2 emissions 20.7% from that same FY17-18 baseline. This averages to a total emissions reduction over this timeframe of 13%, representing significant progress on their 2030 goal.
“Continuous improvement in our environmental performance is a notable aspect of our sustainability journey,” G V Prasad, Co-chairman and Managing Director of Dr. Reddy’s Laboratories, said in a statement. “We are delighted to join SBTi in taking a science-based approach to set our GHG emission reduction targets and accelerating our efforts to creating a positive impact on our planet.”
According to Dr. Reddy’s, 17 companies in the global Pharmaceutical and Biotech sector have successfully established science-based emissions reduction targets. The Science-Based Targets initiative is a joint initiative of Carbon Disclosure Project (CDP), United Nations Global Compact (UNGC), World Resources Institutes (WRI) and World Wide Fund (WWF).
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