Recipharm attains major sustainability milestones
- Approval of ambitious Greenhouse Gas emission reduction targets by SBTi
- Commitment to renewable electricity sourcing to 100.0% by 2024 and to 42.1% GHG emission reduction (Scope 1 and 2) by 2030
- Elevated CDP Climate rating to B level
Recipharm, a global leader in contract development and manufacturing, has announced two major milestones as part of its ongoing commitment to sustainability, underpinning the Group’s pledge to minimising its environmental impact.
Firstly, the Science Based Targets initiative (SBTi) has approved Recipharm’s near-term science-based emissions reduction targets. The SBTi validated that the company's scope 1 and 2 target ambition is in line with a 1.5°C trajectory.
This recognition highlights Recipharm's continued commitment to adopting practices in reducing GHG emissions. As such, the Group is set to:
- Increase its sourcing of renewable electricity to 100.0% by 2024, making it a natural commitment to the RE100 programme.
- Reduce absolute scope 1 and 2 GHG emissions by 42.1% by 2030 from a 2021 base year.
- Reduce absolute scope 3 GHG emissions by 25.0% within the same timeframe.
In addition, Recipharm has successfully improved its CDP Climate rating from B- to B, showcasing the company's ongoing commitment to elevating its environmental performance, with its CDP Climate score now exceeding both the global average and the Biotech & Pharma sector average. Recipharm’s CDP Water rating has improved from a C to B-, outperforming the global, European and Biotech & Pharma sector averages.
Expressing the company's commitment to sustainable practices, Greg Behar, Recipharm CEO, said: "Today's announcement marks a significant step forward in our sustainability journey. We take pride in the validation of our GHG emission reduction targets by the SBTi and the evident improvement in our CDP ratings. These accomplishments underscore our unwavering dedication to reducing our environmental impact and actively contributing to a more sustainable future. Furthermore, they attest to our transparency regarding our environmental progress, as we willingly open ourselves to scrutiny by internationally-recognised third parties."
For more information
- Recipharm and its sustainability efforts, please visit www.recipharm.com
- SBTi’s official near-term science-based target regarding Recipharm can be found below or on Recipharm’s website: Sustainability | Sustainable Pharmaceutical Company | Recipharm
- SBTi’s validation confirmation: “Recipharm commits to reduce absolute scope 1 and 2 GHG emissions 42.1% by 2030 from a 2021 base year*. Recipharm also commits to increase active annual sourcing of renewable electricity from 93.5% in 2021 to 100.0% by 2030. Recipharm also commits to reduce absolute scope 3 GHG emissions from purchased goods and services, fuel and energy related activities, upstream transportation and distribution, waste generated in operations, business travel, employee commuting, use of sold products, and end of life treatment of sold products 25.0% within the same timeframe.”
* The target boundary includes land-related emissions and removals from bioenergy feedstocks.
About Recipharm
Recipharm is a leading Contract Development and Manufacturing Organisation (CDMO) in the pharmaceutical industry employing over 7,000 employees. Recipharm offers manufacturing services of pharmaceuticals and biologics in various dosage forms, production of clinical trial material and APIs, pharmaceutical product development and development and manufacturing of medical devices. Recipharm manufactures several hundred different products for customers ranging from big pharma to smaller research and development companies. The company operates development and manufacturing facilities in France, Germany, India, Israel, Italy, Portugal, Spain, Sweden, the UK and the US and is headquartered in Stockholm, Sweden
For more information on Recipharm and our services, please visit www.recipharm.com
Recipharm AB
Corporate identity number 556498-8425
Address Box 603, SE-101 32 Stockholm, Sweden, Telephone +46 8 602 52 00
www.recipharm.com
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