Glenmark Pharma becomes part of SBTi, sets GHG emission targets for FY2035
Glenmark got certified following a rigorous five‐stage review, and is only the second Indian pharma company to receive this approval
Glenmark Pharmaceuticals has joined the Science Based Targets initiative (SBTi) business ambition for well below 2°C.
A company statement informed, “The SBTi’s has approved Glenmark’s commitment to reduce its absolute scope 1 and 2 GHG emissions by 35 per cent (from an FY2021 base year) by FY2035. The target boundary includes biogenic land‐related emissions and removals from bioenergy feedstock. The approval also extends to our pledge to reduce scope 3 GHG emissions from purchased goods and services, fuel and energy-related activities, downstream transportation and distribution, and investments by 28 per cent per ton of pharma products within the same timeframe.”
Glenmark got certified following a rigorous five‐stage review and is only the second Indian pharma company to receive this approval.
Glenn Saldanha, Chairman & Managing Director, Glenmark Pharmaceuticals said, “We are pleased to announce that the Science Based Targets initiative (SBTi) has validated our Green House Gas (GHG) emission targets. This certification gives us an impetus to further pursue our ESG goals, while also benchmarking us at a global scale. We are proud to be the second Indian pharma company to have our targets certified by the SBTi.”
The Science Based Targets initiative (SBTi) mobilises companies to set science‐based targets and boost their competitive advantage in the transition to the low‐carbon economy. It is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).