Pharmanovia received SBTi approval for Net Zero Emissions Targets

• PHARMANOVIA’S NET ZERO GREENHOUSE GAS (GHG) TARGETS HAVE BEEN FORMALLY VALIDATED BY THE SCIENCE-BASED TARGET INITIATIVE (SBTi)
• THIS AMBITIOUS AIM ADDS TO A STRING OF ESG-FOCUSED INITIATIVES IMPLEMENTED BY PHARMANOVIA TO ACHIEVE LONG-TERM SUSTAINABILITY    

Basildon, UK, 3rd April 2023

Pharmanovia, a global pharmaceutical company that revitalises, extends and expands the lifecycle of already established medicines, has received formal approval from the Science Based Targets initiative (SBTi) for its net-zero greenhouse gas (GHG) emissions target, taking a meaningful and ambitious step against climate change. The company has set near-term company-wide emission reduction targets, in line with the latest climate science.

By setting its sights on achieving a net-zero target by 2030, Pharmanovia plans to take rigorous action to reduce both direct and indirect emissions across its entire value chain. Their emission reduction strategy includes six key workstreams:

• Air to sea: switching air freight to sea freight, where possible
• Vehicle fleet: switching fleet vehicles to hybrid/ electric or electric only
• Business travel: Minimising business travel, electing public transport over car mileage
• Purchased IT and infrastructure: Sourcing mains-powered technology and systems hosted on renewable energy platforms
• Sustainable development: Sourcing purchased goods from business partners powering their manufacturing facilities with renewable energy
• Distribution: Sourcing logistics services from business partners powering their transportation modes with renewable energy sources 

Significant progress has already been made with an air to sea freight pilot programme launched in August 2022, which avoided 136,000Kg of potential CO₂ emissions over a three-month period.

The ambitious goal of net-zero emissions by 2030 is aligned with science-based targets that support the United Nations Climate Change Paris Agreement, which is to limit global warming to well below 2°C above pre-industrial levels and to pursue efforts to limit warming to 1.5°C.

Pharmanovia’s net-zero pathway is a key element of it’s environmental, social and governance (ESG) strategy.  

Pharmanovia CEO, James Burt commented; “We have long been committed to doing business responsibly but as the impact of climate change threatens greater biodiversity loss and social inequity, we feel compelled to stand up to this challenge and take accountability to further limit our impact on the environment. From lowering our resource impact through the recycling and revitalising of established medicines to committing to science-based targets, we have a clearly defined pathway to reduce our carbon emissions in addition to future-proofing our business growth.”

Neeshe Williams, General Counsel and ESG Lead at Pharmanovia, added: “In the past few years we have embedded and upscaled strong ESG objectives across our organisation, so committing to net-zero GHG emissions by 2030 is the natural next step for us. This is a bold undertaking, but one that we are passionate about and determined to reach. We hope that this inspires others across our industry to join us.”

Notes to editors

For further information, please contact:

Alison Dyson, Director of Communications, Pharmanovia

07442 256310/ Alison.dyson@pharmanovia.com

Or pharmanovia@67health.co.uk

About Pharmanovia

Pharmanovia is a global lifecycle management healthcare company. Our mission is to revitalise iconic medicines for the benefit of patients, prescribers and payors, and utilise our capabilities to launch novel therapies.

With a diverse and growing team in over 160 countries across the globe, we deliver high-quality solutions, ethically and sustainably, across our four core therapeutic areas – Oncology, Endocrinology, Neurology and Cardiovascular.