Piramal Pharma's Commitment to Sustainability and GHG Reduction

Piramal Pharma's Commitment to Sustainability

Piramal Pharma Limited, a leading global pharmaceuticals company, has set its sights on a more sustainable future. The company has officially received validation from the Science Based Targets initiative (SBTi) for its greenhouse gas (GHG) emission reduction targets. This milestone reflects Piramal Pharma's dedication to implementing sustainable practices and making progressive strides toward reducing its environmental impact.

Setting Ambitious Goals

As part of its commitment, Piramal Pharma plans to cut its Scope 1 and 2 GHG emissions by 42% by the end of FY2030, using FY2022 as the baseline year. In addition, the company aims to reduce its Scope 3 GHG emissions, which encompass emissions from purchased goods and services, fuel and energy-related activities, along with transportation and product usage, by 25% during the same timeframe. This commitment positions Piramal Pharma as one of the foremost global pharmaceutical companies acknowledging the importance of sustainable practices.

Pivotal Leadership Remarks

Nandini Piramal, Chairperson of Piramal Pharma Limited, emphasized the importance of this initiative, stating, "Sustainability is at the heart of our business strategy, and the approval from SBTi reinforces our ongoing commitment to reducing our GHG emissions and aligning with global climate action goals." Her remarks highlight the broader vision of the company, which is actively developing a comprehensive Carbon Reduction Plan to further enhance their sustainability efforts.

About the Science Based Targets Initiative

The SBTi serves as a guiding framework for businesses aiming to reduce their GHG emissions. By establishing scientifically-backed criteria, the initiative outlines required emissions reductions necessary to limit global temperature rise to well below 1.5°C compared to pre-industrial levels. By partnering with SBTi, Piramal Pharma positions itself among other companies striving for measurable environmental impacts.

The Path Forward for Piramal Pharma

With its extensive range of pharmaceutical products and commitment to environmental stewardship, Piramal Pharma is not only focused on business growth but also on fostering a sustainable future for the industry and society. The company operates 17 global development and manufacturing facilities, distributing products to over 100 countries, showcasing its ability to impact a global market significantly.

Expanding Business Reach

Piramal Pharma includes segments like Piramal Pharma Solutions, an integrated contract development and manufacturing organization, and Piramal Critical Care, which focuses on complex hospital generics. Their strategic approach also sees collaboration with associate companies, such as Abbvie Therapeutics India Private Limited, establishing a stronghold in various therapeutic areas.

Piramal Pharma's Future Endeavors

The company is committed to continuously evolving its strategies, ensuring that sustainability remains a core part of its operational ethos. Piramal Pharma's leadership recognizes that while they have made significant progress, the journey toward sustainability is ongoing and requires persistent effort.

Frequently Asked Questions

What are Piramal Pharma's GHG reduction commitments?

Piramal Pharma commits to reducing Scope 1 and 2 GHG emissions by 42% and Scope 3 emissions by 25% by FY2030, with FY2022 as the base year.

How does the SBTi contribute to sustainability?

The SBTi helps companies set science-based targets for reducing emissions to limit global warming, providing a clear roadmap for sustainable growth.

Who is Nandini Piramal?

Nandini Piramal is the Chairperson of Piramal Pharma Limited, where she advocates for sustainability and environmental responsibility within the company's strategic initiatives.

Where is Piramal Pharma located?

Piramal Pharma Limited has a global reach with development and manufacturing facilities in various countries, distributing its products to over 100 markets around the world.

What are the key segments of Piramal Pharma's operations?

Piramal Pharma operates in several segments, including contract development, manufacturing, critical care, and consumer healthcare, enhancing its impact in the pharmaceutical sector.

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