Piramal Pharma 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.
Piramal has committed to reducing absolute scope 1 and 2 GHG emissions by 42 per cent by FY2030 from an FY2022 base year. It has also committed to reducing absolute scope 3 GHG emissions from purchased goods and services, fuel and energy-related activities, upstream transportation and distribution, and use of sold products by 25 per cent within the same timeframe. This makes Piramal Pharma the third global pharmaceutical company in India to receive approval from the SBTi.
Nandini Piramal, Chairperson, Piramal Pharma, said, “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.