Orion Corporation's Commitment to Fighting Climate Change
Orion Corporation's Climate Targets Approved by SBTi
Orion Corporation is excited to announce the validation of its near-term climate targets by the Science Based Targets initiative (SBTi). This endorsement signifies that our greenhouse gas (GHG) emissions reduction goals align with scientific guidelines aimed at limiting global warming to no more than 1.5°C above pre-industrial levels.
Commitments to Reduce Emissions
In its commitment to mitigate climate change impacts, Orion has outlined specific targets: we aim to reduce our absolute scope 1 and 2 GHG emissions by an impressive 70% by 2030, based on our 2023 figures. Additionally, we have set a goal that 78% of our suppliers, particularly those involved in emissions linked to purchased goods, capital goods, and upstream transportation, will establish their own science-based targets by 2029.
Understanding Emission Scopes
It’s important to note that scope 1 emissions refer to direct GHG emissions from our operations, while scope 2 pertains to indirect emissions tied to energy consumption. We are committed to achieving these reductions without relying on carbon offsets, ensuring our actions reflect genuine environmental responsibility.
A Strong Leadership Stance
As our President and CEO Liisa Hurme has stated, "Industry must take the lead in addressing climate change." This perspective is critical as we drive Orion's initiatives. Our focus is rooted in scientific innovation, which is why these targets not only reflect our corporate responsibility but also resonate deeply with our mission to enhance well-being globally. This significant endorsement from SBTi represents a monumental step forward in our sustainability efforts.
Concrete Steps Towards Sustainability
To meet our climate targets, Orion is committed to implementing a variety of sustainable practices. For instance, we have focused extensively on energy efficiency improvements within our production operations. In 2023 alone, energy-saving measures resulted in a remarkable 11,459 MWh reduction in energy consumption. Our facilities in Turku and Espoo have embraced advanced heat pump technology, which harnesses waste heat and ambient energy from the surroundings, thereby greatly minimizing our overall carbon footprint.
Engaging with Our Supply Chain
Our sustainability goals extend beyond our immediate operations. We actively collaborate with suppliers and enhance partnerships throughout our value chain to reduce overall emissions and promote sustainable practices.
The Role of the Science Based Targets initiative (SBTi)
The SBTi plays a fundamental role in guiding corporations toward ambitious emissions reduction goals in accordance with the latest climate science. By defining and advocating best practices for emissions cuts and net-zero commitments, the SBTi provides market players with clear pathways to align with the Paris Agreement’s goals.
Orion's Sustainability Strategy
At Orion, our Sustainability Agenda encompasses four critical areas: patient safety, environmental responsibility, employee wellness, and ethical practices in business. Our commitment to sustainability is evident throughout the entire lifecycle of our products, from the initial development stages to usage and eventual disposal.
We recognize our operations' impact on the environment and the communities we serve, urging us to enhance not just our processes but also the sustainability of our entire supply chain. The health of our value chain directly correlates to Orion's sustainability, and we are dedicated to leading the pharmaceutical industry toward a more eco-conscious future.
Company Contact Information
For inquiries related to our sustainability initiatives, please contact Noora Paronen, Head of Corporate Responsibility, at +358 10 426 2258.
Frequently Asked Questions
What are the newly approved climate targets by Orion Corporation?
Orion Corporation aims to reduce its absolute scope 1 and 2 GHG emissions by 70% by 2030 and engage 78% of its suppliers to establish science-based targets by 2029.
How has Orion Corporation improved its energy efficiency?
Orion has implemented various energy efficiency projects, achieving 11,459 MWh of energy savings in 2023 through advancements like heat pump systems in its manufacturing facilities.
What does the Science Based Targets initiative (SBTi) do?
The SBTi provides a framework for companies to set bold emissions reduction targets aligned with climate science, promoting best practices in sustainability.
Why is Orion's sustainability agenda important?
Orion's sustainability agenda emphasizes not only the environmental impact of its operations but also patient safety, employee well-being, and ethical business practices.
How does Orion Corporation engage with its suppliers in sustainability efforts?
Orion collaborates with suppliers to encourage emissions reductions across the value chain, ensuring that sustainability priorities are collectively addressed.
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