- Piramal Pharma has committed to reduce its GHG emissions for Scope 1, 2, and 3 by 2030
MUMBAI, India, Sept. 16, 2024 /PRNewswire/ -- Piramal Pharma Limited (NSE: PPLPHARMA) (BSE: 543635), a leading global pharmaceuticals company, has embarked on its sustainability journey as the Science Based Targets initiative (SBTi) officially validated the company's near-term greenhouse gas (GHG) emission reduction targets. This validation aligns with Piramal Pharma's core purpose of 'Doing Well and Doing Good,' driving its business strategies and strengthening the company's commitment to making consistent, measurable progress toward a more sustainable future.
Piramal Pharma Limited has committed to reduce absolute scope 1 and 2 GHG emissions 42% by FY2030 from a FY2022 base year. Piramal Pharma Limited has also committed to reduce absolute scope 3 GHG emissions from purchased goods and services, fuel and energy related activities, upstream transportation and distribution and use of sold products 25% within the same timeframe. This makes Piramal Pharma the third global pharmaceutical company in India to receive approval from the SBTi.
Speaking on this pivotal step forward, Nandini Piramal, Chairperson, Piramal Pharma Limited, said, "Sustainability is at the heart of our business strategy, and the approval from SBTi reinforces our ongoing commitment to reducing our GHG emissions and aligning with global climate action goals. This is a critical step in our broader sustainability roadmap, and we are committed to doing our part in driving meaningful environmental change across the pharmaceutical industry. To further reinforce our commitment, we are also in the process of developing a comprehensive Carbon Reduction Plan, which will be unveiled soon.While we have come a long way,in many respects, our sustainability journey is just beginning."
The Science Based Targets initiative (SBTi), a collaboration between the Carbon Disclosure Project (CDP), United Nations Global Compact (UNGC), World Resources Institute (WRI), and World Wide Fund (WWF), guides companies in reducing their greenhouse gas emissions. It provides a clear pathway for future-proof growth by specifying how much and how quickly emissions must be cut to limit global warming to well below 1.5°C above pre-industrial levels.
For more information about Piramal Pharma's GHG reduction efforts and its commitment to the Science Based Targets initiative, please visit https://sciencebasedtargets.org/target-dashboard/ .
About Piramal Pharma Ltd:
Piramal Pharma Limited (PPL, NSE: PPLPHARMA I BSE: 543635), offers a portfolio of differentiated products and services through its 17* global development and manufacturing facilities and a global distribution network in over 100 countries. PPL includes Piramal Pharma Solutions (PPS), an integrated contract development and manufacturing organization; Piramal Critical Care (PCC), a complex hospital generics business; and the India Consumer Healthcare business, selling over-the-counter consumer and wellness products. In addition, one of PPL's associate companies, Abbvie Therapeutics India Private Limited, a joint venture between Abbvie and PPL, has emerged as one of the market leaders in the ophthalmology therapy area in the Indian pharma market. Further, PPL has a strategic minority investment in Yapan Bio Private Limited, that operates in the biologics / bio-therapeutics and vaccine segments. In October 2020, PPL received a 20% strategic growth investment from the Carlyle Group.
*Includes one facility through minority investment in Yapan Bio
For more information visit: Piramal Pharma | LinkedIn
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