Of the 17 United Nations Sustainable Development Goals (SDGs), CordenPharma will focus on 3) Impact, (5) Diversity, (13) Climate, and (16) Information Security.
Sustainability Through Science-Based Targets
Of the 17 United Nations Sustainable Development Goals (SDGs), CordenPharma will focus on 3) Impact, (5) Diversity, (13) Climate, and (16) Information Security.
On 2 December 2022, CordenPharma announced joining the Science Based Targets initiative (SBTi) to actively drive down global emissions across the company. In line with the Paris Agreement’s aims to limit the global warming temperature increase to 1.5 °C, halve emissions before 2030, and achieve Net Zero by 2050, CordenPharma committed to evaluating and submitting company-wide emissions reduction targets through the Science Based Targets initiative (SBTi).
Since then, 2023 marked the start of our campaign to evaluate and develop science-based targets for reducing greenhouse gas emissions. As highlighted on the Science-Based Targets website, there are thousands of companies taking action, like CordenPharma, to develop their own targets and work to reduce emissions in line with the goals of the Paris Agreement.
The first step in driving CordenPharma’s global transformation to a low-carbon economy requires that we identify all our emissions sources. Therefore, at the beginning of 2023, we started a comprehensive analysis of all emissions at all our sites, which are not only generated by the manufacturing of Active Pharmaceutical Ingredients (APIs), Lipid Excipients and pharmaceutical Drug Products, but we additionally look at all emissions from our entire value chain, our core processes as well as our supporting processes, to get a complete overview of all emissions from our daily activities.
But that’s not all – in order to get a thorough understanding of our carbon footprint, we also conducted an evaluation of possible emissions from our employees’ offices or workplaces, business trips, vehicles, travel to the sites, as well as the recycling of all our waste, the use of fresh water, and much more.
An ongoing review of possible future energy sources is an essential part of this action plan. To this end, we are already in talks with individual cities, energy companies and public authorities with a view towards promoting and using renewable energies at our sites. We have recognized that the reduction of greenhouse gas emissions, and thus the sustainable management of our sites, cannot be a topic for industry alone. It will only work through close cooperation between many individual stakeholders, bringing us to a climate-neutral and sustainable society.
However, sustainability involves more than reducing greenhouse gas emissions. Sustainability is an actionable principle based on the use of resources. In the economic sense, sustainability is often equated with longevity (e.g. of business strategies or even longevity of products); also, “sustainability” is sometimes used to mean “adequate over the long term.”
As a leading CDMO, our understanding at CordenPharma is that sustainable business is the responsible use of natural, economic, and social resources. Therefore, our sustainability goals include environmental, economic, and social components.
Sustainability Indicators
Indicators for central elements of sustainability are generally defined into 17 sustainability goals, as formulated by the member states of the United Nations (UN) – Sustainable Development. They were created to ensure globally sustainable development in ecological, economic and social terms. The goals show that here, too, the equitable distribution of resources is at the heart of understanding true sustainability.
With our sustainability strategy, we contribute to achieving the global United Nations’ Sustainable Development Goals (SDGs).
Of the 17 Sustainable Development Goals in total, our focus at CordenPharma is on (3) Impact, (5) Diversity, (13) Climate, and (16) Information Security, for which we have the strongest influence in our corporate actions.
A materiality assessment is a formal exercise that aims to engage our stakeholders to find out how important specific Environmental, Social and Governance (ESG) issues are viewed from their perspective. Based on this materiality assessment, we will use this insights gained to drive communication and further develop our sustainability strategy based on our materiality matrix.
In addition to setting sustainability goals in accordance with the United Nations SDGs, appropriate transparency is particularly important to us. That’s why all CordenPharma sites have been assessed, many for the first time in 2022, by EcoVadis. All sites received a medal rating, which is a solid first step towards reaching our sustainability goals.
Sustainability is a very important topic that is relevant to all of us. Please engage us for more information on CordenPharma’s sustainability plan.
