These existing environmental commitments are aligned with three focus areas identified during the ESG’s recently completed material analysis, which contributed to the development of our renewed strategy:
• Climate-related activities and the development of climatic resilience
• Responsible use of natural resources
• Emissions, sewage and waste
Individually, the company has committed by 2030:
• Reduce category 1 and 2 greenhouse gas (GHG) emissions by 33% compared to 2017 levels, to support efforts to limit global temperature rise by much less than 2 degrees, in line with the 2015 Paris Climate Agreement.
• Improve the transparency of Category 3 greenhouse gas emissions and increase climate involvement with key suppliers throughout the value chain.
• Increase energy efficiency by 10% and the rate of energy acquired or produced from renewable sources by 50%.
• Reduce overall water use by 10% in areas likely to be in water shortages.
• Assess and minimize the environmental impact of pharmaceutical components used in operation.
• Reduce the total amount of secondary and tertiary packaging materials per serving unit and increase the proportion of recycled and responsibly purchased materials by 10%.
• Assess the impact on the environmental life cycle of key products.
• Continue to minimize waste generated from operation and the environmental impact of disposal.
• Meet the existing commitments of the AMR Industry Alliance to minimize microbial secretions from the supply chain.
Eric Drapa, Senior Vice President of Global Operations in Nature, Said the goals are challenging but achievable, especially given the size and complexity of Teva’s global operations.
“With over 60 manufacturing sites in many countries, we understand the significant impact we can have on the planet,” Drapa said. “We are already – and want to remain – leaders in our industry in terms of environmental performance. We continue to monitor our progress and from time to time re-evaluate our goals in order to continue to challenge ourselves.”
Acceptable industrial standards
The science-based target for reducing greenhouse gas emissions is set to provide the level of carbon reduction required to maintain the global temperature well below a 2 degree Celsius rise. This is compared to pre-industrial temperatures, as described in the Fifth Intergovernmental Panel on Climate Change (IPCC).
Teva is also improving its reporting by adapting reporting to strong international standards, including the Global Reporting Initiative (GRI), the Sustainable Accounting Standards Board (SASB) and the Climate Change Task Force (TCFD).
Leading the way
Teva’s current environmental performance has been recognized by a number of external criteria:
• Sustainalytics ranked Teva in the top 10% among pharmaceutical companies and gave the company a score of “Environmental Overperformance”.
• Our performance in the Dow Jones Sustainability Index has improved from the 55th to 70th percentiles in our industry over the past year.
• Our climate change score on CDP has improved from B to A in the past year, ranking Teva among 38% of the leading companies.
• We received a silver medal from EcoVadis, in a way that puts us in the top 23% among pharmaceutical companies in 2020.
New goals for a new era
The new goals replace goals set in 2014 and expired in 2019 after they have been achieved or are no longer relevant, as a result of the integration of Actbis’ activities.
A timetable until 2030 will help us align with the UN’s Sustainable Development Goals (SDGs). The 17 goals set by the UN in 2015 are designed to end poverty, protect the planet and ensure that all people enjoy peace, prosperity and health, as part of the agenda For sustainable development 2030.
Our new goals are part of Teva’s commitment to the ESG and build on our ongoing commitment to helping achieve the SDG goals. ESG is inherently related to our business and strengthens our mission to be a world leader in generics and biopharmaceuticals, and to improve the lives of patients.
We are in the process of developing long-term commitments also under the “social” and “governmental” pillars that focus on expanding access to medicines for patients with unmet needs, ensuring that inclusion and diversity are assimilated into our culture and activities, and that ethics and compliance remain the norm. In which we lead.