The active pharmaceutical (API) contract development manufacturing organization (CDMO), CordenPharma, announced on December 1, 2022 that it has joined the Science Based Targets initiative (SBTi) to drive down global emissions across the company in line with the Paris Agreement’s aims to limit global warming.
SBTi independently assesses and approves companies’ targets with criteria to support best practices for ambitious climate action in the private sector. By joining the initiative, CordenPharma has committed to evaluating and developing science-based greenhouse gas emission reduction targets to submit to SBTi for validation and approval.
The initiative is a collaboration between the Committee for Development Policy, the United Nations Global Compact, the World Resources Institute, and the World Wide Fund for Nature. The goals of the initiative are in line with the Paris Agreement’s aim to limit global warming temperature increase to 1.5 Celsius or 34.7 Fahrenheit before 2030 and achieve Net Zero by 2050.
CordenPharma was acquired by Astorg ESG in May, 2022 and Dr. Michael Quimbach, CEO and president of CordenPharma stated, “Environmental, Social & Governance (ESG) is a top priority of both CordenPharma and our new private equity shareholders, Astorg.”
Quimbach said the CDMO is already working with “Ecovadis to achieve the highest level of sustainability ratings” for its facilities. “The validation and approval from the SBTi will give them [customers] visibility into understanding our reduction targets and processes to reduce carbon footprint throughout our organization at every level,” said Quimbach.
The CDMO also announced that it is in the process of developing an action plan to help its roughly 3,000 employees to implement the SBTi emission reduction targets and align with a Net Zero future.
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