In his regular PharmaTimes feature, sustainability columnist Joe Newcombe looks at how COP27 brought environmental policy back to the fore and how pharma has an opportunity to be world leaders in sustainability.
A study from MyGreenLab and Urgentem, presented at COP27, highlights a different reality – that generally the pharma and biotech industry is not aligned with ‘keeping 1.5 alive’. Of 382 pharma and biotech companies included in the analysis, 91% lack carbon reduction targets aligned with the Paris Climate Agreement. Alarmingly, emissions from publicly listed pharma and biotech companies have actually increased by 15% since 2015.
James Connelly, CEO of MyGreenLab, reflected: “While it is encouraging to see the leading companies in the biotech and pharma industry starting to drive year-on-year reductions, we need to get the entire industry engaged, and we need to rapidly scale up our efforts if the industry is going to be part of the climate solution.”
Read the full column in PharmaTimes.
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