Recipharm, a global leader in contract development and manufacturing, has announced two major milestones as part of its ongoing commitment to sustainability, underpinning the Group’s pledge to minimize its environmental impact.
Firstly, the Science Based Targets initiative (SBTi) has approved Recipharm’s near-term science-based emissions reduction targets. The SBTi validated that the company's scope 1 and 2 target ambition is in line with a 1.5°C trajectory.
This recognition highlights Recipharm's continued commitment to adopting practices in reducing GHG emissions. As such, the Group is set to:
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Increase its sourcing of renewable electricity to 100.0% by 2024, making it a natural commitment to the RE100 program.
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Reduce absolute scope 1 and 2 GHG emissions by 42.1% by 2030 from a 2021 base year.
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Reduce absolute scope 3 GHG emissions by 25.0% within the same timeframe.
In addition, Recipharm has successfully improved its CDP Climate rating from B- to B, showcasing the company's ongoing commitment to elevating its environmental performance, with its CDP Climate score now exceeding both the global average and the Biotech & Pharma sector average. Recipharm’s CDP Water rating has improved from a C to B-, outperforming the global, European and Biotech & Pharma sector averages.
Expressing the company's commitment to sustainable practices, Greg Behar, Recipharm CEO, said: "Today's announcement marks a significant step forward in our sustainability journey. We take pride in the validation of our GHG emission reduction targets by the SBTi and the evident improvement in our CDP ratings. These accomplishments underscore our unwavering dedication to reducing our environmental impact and actively contributing to a more sustainable future. Furthermore, they attest to our transparency regarding our environmental progress, as we willingly open ourselves to scrutiny by internationally-recognised third parties."
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