Energy Efficiency, GHG Emissions, Industrial - May 5, 2021
Teva Announces 25% Reduction in GHG Emissions
Teva Pharmaceutical Industries Ltd. achieved a reduction in total energy consumption of 6% in 2020 vs. 2019 and a 25% reduction since 2017. These results, along with other energy and emissions-related successes, as well as long-term goals, were shared with the release of the company’s 2020 ESG Progress Report. This report is Teva’s first to align with the Sustainability Accounting Standards Board (SASB) and Task Force on Climate-Related Financial Disclosures (TCFD).
“I am proud that in 2020 we continued to improve our environmental sustainability, including by reducing Scope 1 and 2 greenhouse gas emissions by 25% from 2017,” said Dr. Sol J. Barer, Chairman of the Board of Directors, in the report. “Our recently announced 2030 goals demonstrate our intention to continue this trajectory.”
Teva’s 2030 climate-related targets include a 33% decrease in Scope 1 and 2 emissions (vs. 2017). To achieve this, Teva has invested over $1.5 million in its facilities’ energy efficiency projects such as
- LED lighting
- Boiler upgrades
- Air compressor system upgrades
- Insulation for steam pipes
- Energy-saving HVAC systems
In late 2020, Teva also established a multidisciplinary energy task force. This committee will discover opportunities for energy and GHG reduction in Teva’s operations.
“With more than 60 manufacturing sites across many countries, we realize the meaningful impact we can have on the planet,” said Eric Drape, Executive Vice President, Global Operations, in the report. “But we are—and want to remain—a leader in our industry in terms of environmental performance. We continue to monitor our progress and periodically reevaluate our goals in order to continue to challenge ourselves.”