Science’s Surprising Carbon Impact: My Green Lab Study Reveals 91% of Biotech and Pharma Companies Are Not Aligned with the Paris Climate Accord

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Proposed by My Green Lab

SHARM EL SHEIK, Egypt, Nov. 10, 2022 /CSRwire/ — A study released at the 2022 United Nations Climate Change Conference, COP27, found that 91% of biotech and pharmaceutical companies do not have climate change targets. carbon reduction aligned with the Paris Climate Agreement. My Green Lab, the leading global non-profit organization committed to sustainability in science, revealed in this study that while the largest companies in the sector by revenue have established goals and commitments to reduce emissions , most still do not have commitments aligned with a 1.5 ˚C warming scenario, emissions targets estimated by the United Nations Intergovernmental Panel on Climate Change (UNFCCC) will avoid the worst impacts of climate change.

“While it is encouraging to see major companies in the biotech and pharma industry begin to shrink year on year, we need to engage the whole industry and we need to scale up our efforts quickly if the industry is to be part of the climate solution,” says James Connelly, CEO of My Green Lab. “We need all companies in the industry to join the Race to Zero campaign and take quick, measurable action to reduce emissions. progress towards Revolutionary result The target of 95% of labs achieving My Green Lab certification is encouraging and a key indicator of the transformation, we need to act faster,” continues Connelly.

The My Green Lab report, produced in partnership with Intercontinental Exchange Inc., which acquired Urgentem in July 2022, is an update to their 2021 report, which quantified Scope 1 and 2 as well as Scope 3 emissions on the entire industry value chain. The updated report tracks industry progress since 2015 and assesses alignment with achieving the Paris Climate Agreement. It uses data from 231 publicly traded companies and 151 private companies and compares this profile to other industry sectors.

The study also reveals the total carbon impact of public companies in the industrial sector, which increased by 15% to 227 million tCO2-e, or metric tons of carbon dioxide equivalent. Adding private companies increases the total by a further 15%, with the industry’s total carbon impact equivalent to 260 million tCO2-e.

The study is the first to assess the upstream and downstream biotech and pharmaceutical value chain by quantifying indirect Scope 3 emissions for public and private companies. It found that Scope 3 emissions are 4.3 times higher for publicly traded companies and 3.3 times higher for private companies than Scope 1 and 2 emissions combined. The majority of this impact comes from the goods and services purchased and the use of the goods sold.

Although the rapidly growing global biotech and pharmaceutical industry contributes significantly to climate change, the biggest companies in the industry are showing leadership in reducing emissions. The report highlights the industry’s decision to implement green lab programs, which provide a roadmap of practical opportunities for companies, scientists and their suppliers to reduce the environmental impact of labs.

The study found that 46% of top industry players, measured by revenue, have engaged with the UN Race to Zero campaign, an increase from 31% at the same time last year. Progress towards the 2030 Breakthrough Outcome, a key measure of progress towards a zero-carbon future, has also been rapid, with more than 53% of companies participating in the campaign launching a My Green Lab certification, 23% at scale world.

“Pharmaceutical companies have a central role to play in decarbonizing healthcare. We are proud to partner with My Green Lab, the global standard for laboratory sustainability, to accelerate climate action across our organization,” said Juliette White, Vice President, Safety, Health and Environment (SHE) and sustainable development at AstraZeneca. “Thanks to our Ambition Zero Carbon science targets, we are on track to reduce greenhouse gas emissions from our global operations and fleet by 98% by 2026 and have already achieved My Green Lab certification. in more than 68 laboratories around the world, in collaboration with more than 1,700 scientists. “, continues White.

My Green Lab Certification focuses on reducing emissions for Scope 1 and 2 by making lab operations more sustainable. It further helps catalyze Scope 3 reductions by encouraging sustainable purchasing within organizations and with the labs a company contracts within its supply chain. It was selected as a Race to Zero Breakthrough Outcome to help pharmaceutical and medtech companies achieve the goal of a carbon-free world by 2050.

About My Green Lab

My Green Lab® is a non-profit environmental organization whose mission is to build a global culture of sustainability in science, and a delivery partner for the United Nations-backed Race to Zero campaign. The organization is the global leader in developing internationally recognized sustainability standards for laboratories and laboratory products, bringing sustainability to the community responsible for life-changing medical and technical innovations around the world. Labs are some of the most resource-intensive spaces in any industry, but they don’t have to be. By introducing a fresh perspective and proven best practices into a carefully designed framework, My Green Lab has inspired tens of thousands of scientists and lab professionals to make positive changes in their labs by reducing the environmental impact of their work.

My Green Lab Certification is the global benchmark for best practice in laboratory sustainability and the cornerstone of My Green Lab’s mission to create a global culture of sustainability in science. Selected as a key indicator of progress for the UNFCCC High Level Climate Champion’s 2030 Breakthrough Campaign, the program covers fourteen topics, including energy, water, waste, chemicals/materials and engagement . It provides scientists and the teams that support labs with concrete strategies to bring about real and impactful environmental change. To date, My Green Lab has supported over 1,300 labs worldwide, engaging over 10,000 scientists from 39 different countries.

My Green Lab

My Green Lab

We are creating a culture of sustainability through science. We bring sustainability to the community responsible for life-changing medical and technical innovations around the world. Laboratories are one of the most resource-intensive spaces in any industry. But they don’t have to be. By introducing a fresh perspective and proven best practices, My Green Lab has helped tens of thousands of people bring positive change to their work and create a culture of sustainability in the lab. We also help laboratory product manufacturers share their sustainable design, manufacturing and distribution processes with the scientific community through the ACT label.

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