Glenmark Pharmaceuticals Ltd. becomes a part of the Science Based Targets Initiative, sets GHG emission targets for FY2035

Glenmark Pharmaceuticals Ltd. (Glenmark), an integrated, research‐led, global pharmaceutical company, reaffirms its commitment to sustainability by joining the esteemed Science Based Targets initiative (SBTi) business ambition for well below 2°C.

The SBTi's has approved Glenmark's commitment to reduce its absolute scope 1 and 2 GHG emissions by 35% (from a FY2021 base year) by FY2035. The target boundary includes biogenic land‐related emissions and removals from bioenergy feedstock. The approval also extends to our pledge to reduce scope 3 GHG emissions from purchased goods and services, fuel and energy related activities, downstream transportation and distribution, and investments by 28% per ton of pharmaceutical products within the same timeframe.

Glenmark got certified following a rigorous 5‐stage review, and is only the second Indian Pharmaceutical company to receive this approval.

The Science Based Targets initiative (SBTi) mobilizes companies to set science‐based targets and boost their competitive advantage in the transition to the low‐carbon economy. It is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).

Shares of Glenmark Pharmaceuticals Limited was last trading in BSE at Rs. 595.50 as compared to the previous close of Rs. 593.95. The total number of shares traded during the day was 22108 in over 2580 trades.

The stock hit an intraday high of Rs. 600.25 and intraday low of 588.00. The net turnover during the day was Rs. 13180399.00.

Source : Equity Bulls

Keywords

GlenmarkPharmaceuticals INE935A01035 SBTi Business