As a global business it is important that we take action on a global scale. Here are some of the commitments and actions we have taken to lead the way in sustainability in the pharmaceutical industry.
Race to Zero
In 2021 we signed the Business Ambition for 1.5°C - and in doing so joined the United Nations ‘Race to Zero’ - the largest alliance committed to halving emissions by 2030 and achieving Net-Zero carbon emissions by 2050 at the latest, in line with the Paris Agreement.1
Pfizer's Sustainability Bond
In 2020 we became the first biopharmaceutical company to launch a Sustainability Bond ($1 billion +). The proceeds of this are earmarked for environmental and social initiatives and allocated to:
Care for Climate Pledge
We are a signatory of the UN Global Compact ‘Caring for Climate’. This is a formal commitment to take practical actions to implement climate change solutions and to help shape public policy.
Improving Operational Efficiency
Implementing business continuity programmes that are designed to ensure our physical operations and supply chains are taking steps to mitigate the risk and potential impact of any interruption.
Identifying and leveraging opportunities to progress projects that improve operational efficiency.
Engaging with stakeholders to explore markets for environmentally preferable products.
Environmental Risk Assessment
We have identified the climate-related risks with the potential to have a strategic impact on our business. These include:
Physical Risk Assessment
We have completed a physical risk assessment for:
All our manufacturing facilities
Over 5,000 of our suppliers
These assessments used climate modelling scenarios that predicted temperature increases ranging from 0.2ºC to 3ºC. For our internal manufacturing sites, the output of our analysis will be used to support decisions relating to:
Leveraging our strengths in scientific innovation to reduce the environmental impact of our medicines.
We will continue to work in partnership, using science to combat climate change together #ScienceWillWin.
UNFCCC. 'The Paris Agreement'. Accessed Sept 2023.