Nov. 10, 2023
Sumitomo Pharma Receives SBTi (Science Based Targets initiative) Approval
Sumitomo Pharma Co., Ltd. (Head Office: Osaka, Japan; Representative Director, President, and CEO: Hiroshi Nomura) announced today that it has received SBTi (Science Based Targets initiative) approval for the greenhouse gas (GHG) emissions reductions targets of Sumitomo Pharma Group by fiscal 2030 in line with 1.5℃ scenarios.
SBTi is a collaboration between, the United Nations Global Compact, CDP, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF), which drives ambitious climate action in the private sector. To achieve the Paris Agreement’s goal of a global average temperature increase of less than 2℃, it validates corporate GHG emissions reductions targets consistent with science-based reduction scenarios.
The Sumitomo Pharma Group’s targets below submitted by Sumitomo Pharma were approved as science-based targets by the SBTi on October 4.
- Reduce absolute scope 1 and 2 GHG emissions 42% by fiscal 2030 from a fiscal 2020 base year.
- Reduce absolute Scope 3 GHG emissions from purchased goods and services 25% by fiscal 2030 from a fiscal 2020 base year.
The Sumitomo Pharma Group defines the practice of its Mission, “To broadly contribute to society through value creation based on innovative research and development activities for the betterment of healthcare and fuller lives of people worldwide,” that contributes to the realization of a sustainable society and leads to the sustained enhancement of its corporate value as “Sustainability Management,” and has set “Promotion of environmental initiatives” as one of our Material Issues for our Sustainability Management.
Environmental issues such as climate change are serious global problems that threaten the health and wellbeing of people worldwide. The Sumitomo Pharma Group will continually contribute to solving these problems through reducing GHG emissions and other environmental initiatives as well as to realizing a sustainable society, thereby enhancing sustained corporate value.
*For more information on Sumitomo Pharma’s Sustainability Management and environmental initiatives, please visit the company’s website.