Bangalore, India; May 31, 2023: Glenmark Pharmaceuticals Ltd. (Glenmark), an integrated, research‐led, global pharmaceutical company, reaffirms its commitment to sustainability by joining the esteemed Science Based Targets initiative (SBTi) business ambition for well below 2°C.
The SBTi’s has approved Glenmark’s commitment to reduce its absolute scope 1 and 2 GHG emissions by 35% (from a 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 ton of pharmaceutical products within the same timeframe.
Glenmark got certified following a rigorous 5‐stage review, and is only the second Indian Pharmaceutical company to receive this approval.
Speaking on the occasion, Glenn Saldanha, Chairman & Managing Director, Glenmark Pharmaceuticals Ltd. 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 Pharmaceuticals company to have our targets certified by the SBTi.”
The Science Based Targets initiative (SBTi) mobilizes 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).