(Alliance News) - GlaxoSmithKline PLC on Tuesday announced new environmental sustainability goals, aiming for net zero climate impact and a net positive impact on nature by 2030.
The Brentford-based FTSE 100-listed pharmaceutical company said it has three priorities: innovation, performance, and trust. These new goals are part of its trust priority, it said, and environmental, social and governance approach.
Over the next ten years, Glaxo plans to invest in measures that reduce its environmental impact, as well as in restoration programmes balancing the remaining impact that cannot be reduced. Glaxo will "aim to put back into nature more than the company takes out".
New targets, which underpin these goals, include 100% renewable electricity usage and good water stewardship at all of its sites, as well as 100% sustainably sourced and deforestation-free materials. It plans to move to 100% use of electric vehicles by its sales representatives across the world.
The new goals apply mostly to Glaxo's Biopharma business, with Consumer Healthcare contributing to goals until its separation, at which point it will have its own new targets as an independent company.
Chief Executive Emma Walmsley said: "All of us working at GSK are very motivated by the challenge of delivering these new goals. Meeting these goals will require working closely with others, including our suppliers, customers, consumers and patients, and we are grateful for their support."
The company noted that: "The Science Based Targets Initiative has accredited that GSK's new carbon targets align to a 1.5 [degree] pathway - in line with the most ambitious goal of the Paris Agreement. The company will align to the Science Based Targets Network approach to measure its impact on nature and will seek to accredit its nature target when the methodology is finalised."
Shares in Glaxo were up 1.6% at 1,345.40 pence in London on Tuesday morning.
By Anna Farley; annafarley@alliancenews.com
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