LEO Pharma’s emission reduction targets validated by the Science Based Targets initiative

LEO Pharma is proud to announce the validation of its Scope 1 & 2 and Scope 3 targets by the Science Based Targets initiative (SBTi)[1].

Emission reduction targets are considered science-based if they are in line with what the latest climate science says is necessary to meet the goals of the Paris Agreement – to limit global warming to well-below 2°C above pre-industrial levels and pursue efforts to limit warming to 1.5°C.

“Climate change is impacting all of us – as individuals and as a business. Setting science-based targets provides LEO Pharma with a defined pathway for reducing our greenhouse gas emissions to keep global warming to 1.5°C and is part of our commitment to building a responsible business.” said Rhonda Duffy, Executive Vice President, Global Product Supply, LEO Pharma. “We realize that we do not have all the answers to how we will reach these targets, so we have a great task ahead of us in engaging with suppliers and business partners and looking for solutions that can help LEO Pharma prepare for the transition towards a low-carbon economy.”

“We congratulate LEO Pharma on setting science-based targets consistent with limiting warming to 1.5°C, the most ambitious goal of the Paris Agreement," said Alberto Carrillo Pineda, Managing Director, Science Based Targets at CDP, one of the Science Based Targets initiative partners. "By setting ambitious science-based targets grounded in climate science, LEO Pharma is taking action to prevent the most damaging effects of climate change."

LEO Pharma’s climate targets involve:

• Own operations (Scope 1 and 2): LEO Pharma commits to reducing our carbon emissions from own operations by more than 50% from 2019 to 2030.

• Value chain (Scope 3): LEO Pharma commits to ensuring that 75% of our suppliers by emissions have set science-based targets by 2026. Suppliers by emission cover purchased goods and services, capital goods and upstream transportation.

To ensure consistency with the most recent climate science, we will review, and if necessary, recalculate our science-based target, at a minimum every 5 years or if significant changes occur that would compromise the relevance and consistency of the existing target.

LEO Pharma’s sustainability approach is designed to respond to the societal challenges facing our business - now and in the future. Health is LEO Pharma’s core business. Climate change is a societal challenge that has an impact on health, as it undermines social factors for good health such as equality and access to healthcare. LEO Pharma is committed to operating responsibly and minimizing the negative impact of our operations on the environment.

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[1] The Science Based Targets initiative (SBTi) is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi defines and promotes best practices in science-based target setting and independently assesses companies’ targets. Currently, almost 2000 companies have joined SBTi.

https://sciencebasedtargets.org/