DRL joins SBTi and sets 2030 GHG emission targets

Dr Reddy’s Laboratories (DRL) has joined the Science Based Targets initiative’s (SBTi) business ambition for 1.5°C, becoming the first Indian and the third Asian pharmaceutical company to have set its Science-Based Targets to further minimise environmental impact.

The company has committed to reducing its Scope 1 and 2 greenhouse gas (GHG) emissions by 55 percent by 2030 from a FY2017-18 base year, which are in line with the latest climate science of limiting global warming to below 1 .5 °c above pre-industrial levels.

G V Prasad, Co-chairman and Managing Director, Dr Reddy’s Laboratories, said, “Continuous improvement in our environmental performance is a notable aspect of our sustainability journey. We are delighted to join SBTi in taking a science-based approach to set our GHG emission reduction targets and accelerating our efforts to create a positive impact on our planet.”

As of FY 2019-20, Dr Reddy’s has reduced its Scope 1 emissions by 8.6 oer cent and Scope 2 emissions by 20.7 per cent over the baseline of FY 2017-18. The combined Scope 1 and 2 emissions have been reduced by 13 per cent over the same base year, putting it on a fast track to achieving GHG reduction targets.

Science-Based Targets initiative (SBTi), a joint initiative of Carbon Disclosure Project (CDP), United Nations Global Compact (UNGC), World Resources Institutes (WRI) and World Wide Fund (WWF), provides companies with a clearly defined pathway to future-proof growth by specifying how much and how quickly they need to reduce their greenhouse gas emissions to limit global warming to well-below 2 °C above pre-industrial levels. 472 companies have already set their targets as per SBTi. In the pharmaceutical amd biotech sector globally, 17 companies have successfully set their emission reduction targets affirming their pledge to mitigate climate change impacts.