Piramal Pharma, a 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.
Piramal's Chair, Nandini Piramal, commented: "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.
