Orion’s near-term climate targets approved by the Science Based Targets initiative
30 September 2024 - 9:00AM
UK Regulatory
Orion’s near-term climate targets approved by the Science Based
Targets initiative
ORION CORPORATION
PRESS RELEASE
30 SEPTEMBER 2024 at 10.00 a.m. EEST
Orion’s near-term climate targets approved by the
Science Based Targets initiative
Orion Corporation is proud to announce that the Science Based
Targets initiative (SBTi) has validated our near-term science-based
targets. This means that our greenhouse gas (GHG) emissions
reduction targets align with the latest climate science to limit
global warming to 1.5°C above pre-industrial levels.
Orion Corporation commits
- to reduce absolute scope 1 and 2 GHG
emissions 70% by 2030 from a 2023 base year
- that 78% of its suppliers by
emissions covering purchased goods and services, capital goods, and
upstream transportation and distribution will have science-based
targets by 2029.
Scopes 1 and 2 refer to direct GHG emissions from our own
operations and indirect emissions associated with the purchase of
energy, respectively. These targets do not include carbon
offsets.
“Industry must be at the forefront of tackling climate change,”
says Liisa Hurme, President and CEO of Orion. “As
an innovative pharmaceutical company, science is at the heart of
everything we do, so it was important for Orion to confirm that our
near-term emissions reduction targets also align with the latest
climate science. This approval is a significant step forward in our
systematic sustainability work, and it reflects our purpose of
building well-being.”
Concrete measures for a more sustainable
future
To attain these targets, Orion will continue to implement a
range of measures, including energy efficiency projects at our
production sites. We have made significant strides in improving
energy efficiency, with projects that led to 11,459 MWh energy
savings in 2023. For example, our manufacturing plants in Turku and
Espoo have implemented innovative heat pump systems that utilize
waste heat and energy from outdoor air, significantly reducing our
carbon footprint. Our commitment extends beyond our own operations,
as we work closely with suppliers and partners to reduce emissions
throughout our value chain.
About the Science Based Targets initiative
(SBTi)
The Science Based Targets initiative (SBTi) is a global body
that enables businesses to set ambitious emissions reduction
targets in line with the latest climate science. The SBTi defines
and promotes best practices in emissions reductions and net-zero
targets, providing companies with a clearly defined path to reduce
emissions in line with the goals of the Paris Agreement.
Learn more: https://sciencebasedtargets.org/
About sustainability at Orion
Orion’s Sustainability Agenda covers four key themes: patient
safety, environmental responsibility, employee well-being, and
ethical business practices. We promote sustainability throughout
the life cycle of a medicine – from the product development of our
medicines and other products to their use and eventual
disposal.
Our activities impact the environment and people around the
world, so it is not enough for us to strive to improve our own
operations. The sustainability of our value chain is equal to the
sustainability of Orion, and together with our partners we are
taking the pharmaceutical industry in a more sustainable
direction.
Learn more: https://www.orion.fi/en/sustainability
Contact person:
Noora Paronen
Head of Corporate Responsibility
tel. +358 10 426 2258
Publisher:
Orion Corporation
Communications
Orionintie 1A, FI-02200 Espoo, Finland
http://www.orion.fi/en
http://www.twitter.com/OrionCorpIR
Orion is a globally operating Finnish pharmaceutical company – a
builder of well-being for over a hundred years. We develop,
manufacture and market human and veterinary pharmaceuticals and
active pharmaceutical ingredients. Orion has an extensive portfolio
of proprietary and generic medicines and consumer health products.
The core therapy areas of our pharmaceutical R&D are oncology
and pain. Proprietary products developed by Orion are used to treat
cancer, neurological diseases and respiratory diseases, among
others. Orion's net sales in 2023 amounted to EUR 1,190 million and
the company had about 3,600 employees at the end of the year.
Orion's A and B shares are listed on Nasdaq Helsinki.
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