3 December 2024 – Basel, Switzerland >
After joining the Science Based Target initiative (SBTi) in December 2022, CordenPharma is proud to announce submission of its near-term greenhouse gas (GHG) emission reduction targets to the SBTi in November 2024 for approval and validation. This reflects CordenPharma’s strong commitment to taking climate action across its global network and supporting its customers to reduce their indirect GHG emissions.
To set climate objectives, CordenPharma calculated its carbon footprint from the base year 2023 using the GHG protocol methodology. Under the GHG protocol, GHG emissions are categorized into three different scopes, depending on whether they are generated from an entity’s own operations or from their value chain partners.
To make CordenPharma’s environmental impact transparent, the calculated carbon footprint was reported through the environmental disclosure system of CDP, formerly known as the Carbon Disclosure Project. This published environmental data is often utilized by disclosers, capital markets, customers, and other stakeholders to make informed decisions and drive action.
CordenPharma set its near-term climate objectives and a global decarbonization strategy to achieve them over the next decade in collaboration with a renowned third-party consultancy. With photovoltaics already installed at its Lisbon, Portugal and Fribourg, Switzerland sites, biogas used at the Liestal, Switzerland facility, and the investment into an offsite solar electricity park for the Colorado, USA site, CordenPharma has already taken important steps towards its climate ambitions.
Dr. Michael Quirmbach, President & CEO of the CordenPharma Group comments: “Taking more pro-active carbon emission reduction actions enhances our competitiveness in the transition to a low-carbon economy and the collaboration with customers in achieving their climate change goals.”
Viviana Occhionorelli, Partner, ESG at Astorg comments: “We endorse the progress made by CordenPharma on the quantification of the emissions and the submission of their near-term GHG emission reduction targets to the SBTi that demonstrate strong commitment in line with our ambition to lead on climate action.”
In 2022, CordenPharma was acquired by Astorg, a leading pan-European private equity firm to support the growth and development of the company. Through this partnership, Astorg’s ESG team collaborates with CordenPharma to accelerate its sustainable journey.
(Photo by CordenPharma) An aerial view of photovoltaic panels installed at the CordenPharma Fribourg, Switzerland facility.
CordenPharma is a CDMO partner supporting biotech and pharma innovators of complex modalities in the advancement of their drug development lifecycle. Harnessing the collective expertise of the teams across its globally integrated facility network, CordenPharma provides bespoke outsourcing services spanning the complete supply chain, from early clinical-phase development to commercialization.
With scientific expertise and partnership at its core, CordenPharma provides customers high-value, end-to-end services with a strategic focus on Peptides, Oligonucleotides, customized Lipid Excipients, Lipid NanoParticles (LNPs), sterile Injectables, and the extensive supply of Small Molecules (both Highly Potent and Regular Potency).
The CordenPharma Group is comprised of 11 facilities across Europe and North America. In the 2023 financial year, the organization generated sales of €880 million and had over 3,000 employees.
Please visit cordenpharma.com for more information I Follow CordenPharma on LinkedIn.
CordenPharma Media Contacts
North America: abby.thompson@cordenpharma.com I Europe & Asia: eva.schaub@cordenpharma.com
Astorg is a leading pan-European private equity firm with over €23 billion of assets under management. Astorg works with entrepreneurs and management teams to acquire market leading global companies headquartered in Europe or the US, providing them with the strategic guidance, governance and capital they need to achieve their growth goals. Enjoying a distinct entrepreneurial culture, a long-term shareholder perspective and a lean decision-making body, Astorg has valuable industry expertise in healthcare, software and technology, business services and technology-based industrial companies. Headquartered in Luxembourg, Astorg has offices in London, Paris, New York, Frankfurt, and Milan.
For more information about Astorg: www.astorg.com | Follow Astorg on LinkedIn.
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