The validation confirms that LEO Pharma’s climate goals to reduce greenhouse gas emissions are in line with the Paris Agreement.
BALLERUP, Denmark, April 21, 2022–(BUSINESS WIRE)–LEO Pharma is proud to announce the validation of its Scope 1 & 2 and Scope 3 targets by the Science Based Targets Initiative (SBTi)1.
Emission reduction targets are considered science-based if they are consistent with what the latest climate science deems necessary to meet the Paris Agreement goals – limit global warming to well below 2°C above pre-industrial levels and pursue efforts to limit warming to 1.5°C.
“Climate change affects us all – as individuals and as a business. Setting science-based targets provides LEO Pharma with a defined pathway to reduce our greenhouse gas emissions to maintain global warming to 1.5°C and is part of our commitment to building responsible business.” said Rhonda Duffy, Executive Vice President, Global Product Sourcing, LEO Pharma. “We realize that we don’t have all the answers as to how we will achieve these goals, so we have a big task ahead of us in engaging with suppliers and business partners and looking for solutions that can help LEO Pharma prepare for the transition to a low-carbon economy.”
“We commend LEO Pharma for setting science-based targets consistent with limiting global warming to 1.5°C, the most ambitious goal of the Paris Agreement,” said Alberto Carrillo Pineda, Managing Director, Science Based Targets at CDP, one of the partners in the Science Based Targets initiative. “By setting ambitious science-based targets grounded in climate science, LEO Pharma is taking action to prevent the most damaging effects of climate change.”
LEO Pharma’s climate objectives involve:
Value chain (Scope 3): LEO Pharma is committed to having 75% of its suppliers by emissions have science-based targets set by 2026. Suppliers by emissions cover purchased goods and services, capital equipment and upstream transportation.
To ensure consistency with the latest climate science, we will review and, if necessary, recalculate our science target, at least every 5 years or if significant changes occur that would compromise the relevance and consistency of the existing target.
LEO Pharma’s sustainability approach is designed to address the societal challenges our business faces – today and in the future. Health is the core business of LEO Pharma. Climate change is a societal challenge that impacts health because it undermines social determinants of good health such as equity and access to health care. LEO Pharma is committed to operating responsibly and minimizing the negative impact of its activities on the environment.
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About LEO Pharma
LEO Pharma is a global company dedicated to improving standards of care for the benefit of people with skin conditions, their families and society. Founded in 1908 and majority-owned by the LEO Foundation, LEO Pharma has devoted decades of research and development to advancing the science of dermatology, and today the company offers a wide range of therapies for all severities of sickness. LEO Pharma is headquartered in Denmark and has a global team of 5,800 people, serving millions of patients around the world. In 2021, the company achieved a net turnover of DKK 9,957 million.
1 The Science Based Targets Initiative (SBTi) is a collaboration between CDP, the UN Global Compact, the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi defines and promotes best practices in science-based target setting and independently assesses corporate targets. Currently, nearly 2000 companies have joined SBTi.
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