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Dr Reddy's says it aims to cut greenhouse gas emissions by 55% by 2030

Dr Reddy's Laboratories on Monday said it has committed to reduce its greenhouse gas emissions by 55 per cent by 2030.

Dr Reddy’s Laboratories  | greenhouse gas emissions

Press Trust of India  |  New Delhi 

climate change
File Photo

Dr Reddy's Laboratories on Monday said it has committed to reduce its by 55 per cent by 2030.

The Hyderabad-based drug major has joined hands with the Science Based Targets initiative (SBTi), thus becoming the first Indian and the third Asian pharmaceutical company to have set its science-based targets to further minimise environmental impact, Dr Reddy's Laboratories said in a statement.

The company has committed to reducing its Scope 1 and 2 greenhouse gas (GHG) emissions by 55 per cent by 2030 from 2017-18 base year, which are in line with the latest climate science of limiting global warming to below 1.5C above pre-industrial levels, it added.

"Continuous improvement in our environmental performance is a notable aspect of our sustainability journey. We are delighted to join SBTi in taking a science-based approach to set our GHG emission reduction targets and accelerating our efforts to creating a positive impact on our planet," Dr Reddy's Laboratories Co-chairman and Managing Director G V Prasad said.

As of 2019-20 fiscal, Dr Reddy's said it reduced its Scope 1 emissions by 8.6 per cent and Scope 2 emissions by 20.7 per cent over the baseline of 2017-18 fiscal.

The combined Scope 1 and 2 emissions have been reduced by 13 per cent over the same base year, putting the company on a fast track to achieving GHG reduction targets, it added.

SBTi, a joint initiative of Carbon Disclosure Project, United Nations Global Compact, World Resources Institutes and World Wide Fund, provides with a clearly defined pathway to future-proof growth by specifying how much and how quickly they need to reduce their to limit global warming to well-below 2C above pre-industrial levels.

Already, 472 have set their targets as per SBTi.

In the pharmaceutical and biotech sector globally, 17 have successfully set their emission reduction targets affirming their pledge to mitigate climate change impacts, the statement said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Mon, October 05 2020. 16:44 IST