We have set ambitious targets to become carbon neutral across our internal operations by 2030.
Our 2030 Global Targets
In order to achieve our ambition to become carbon neutral across our internal operations by 2030, we have committed to a 46% absolute reduction of direct emissions from a 2019 baseline and to utilise 100% renewable energy by 2030. Any remaining emissions will be offset through carbon credits.
The Science Based Targets Initiative (SBTi) has approved Pfizer's 2030 Scope 1 & 2 greenhouse gas (GHG) emission goal as an ambitious 1.5°C-aligned target. This follows our industry leading validation by the SBTi in 2015 when we became the first company in the pharmaceutical sector to have SBTi approved climate targets.
This builds on our long-term commitment to climate action through our history of GHG emission reductions, with our first formal GHG goal set in 2001. Through successive goal periods, we have reduced our GHG emissions by more than 60%. For example, most recently we exceeded our third generation GHG goal (20% reduction), delivering a 33% reduction in emissions by the end of 2020 from a 2012 baseline. This was achieved through the implementation of over 1,000 projects, delivering more than $5 million in annual savings.
We also aim to reduce emissions related to upstream logistics by 10% and business travel by 25% by 2025 from a 2019 baseline.
Around 80% of our carbon footprint derives from our indirect value chain emissions.
Through our collective efforts >85% of our key suppliers are managing their environmental impacts and >75% are progressing GHG reduction goals.1
Our efforts to drive climate action within our supply chain were recognised through Pfizer’s inclusion in CDP's 2020 Supplier Engagement Leaderboard in 2018, 2019 and 2020, and within CDP's Stories of Change as one of 11 companies with leading practices in environmental impact reduction.1
To continue this momentum, we are implementing a multipronged approach, including embedding environmental sustainability criteria in our vendor selection processes, strengthening expectations within contracts and engaging with key suppliers of goods and services to drive the adoption of science-based GHG reduction goals by 2025.
Support for progressive climate policy
Pfizer supports governmental policy frameworks that promote implementation of low carbon and renewable energy projects, reduce GHG emissions, and meet the following criteria:
- Supports climate and energy research and promotes an economic environment conducive to technological innovation.
- Removes barriers to energy efficiency and renewable energy projects, including replacing higher carbon fuels with lower carbon fuels, and streamlines processes for approving such projects.
- Offers incentives for energy efficiency enhancement and renewable energy implementation.
- Provides a flexible, market-based approach to reducing GHG emissions that promotes energy price predictability, enabling businesses to strategically plan for long term energy alternatives.
- Establishes emissions reduction targets guided by the best available science and available technologies and which appropriately credits companies that have achieved verifiable voluntary emissions reductions.
- CPD 2020. 'Stories of Change.'