Offhand, you may not think of the pharmaceutical and biotech industry as the greenest one around. The sector makes heavy use of chemicals and solvents, not to mention large amounts of water, and its complex supply chains sprawl worldwide.
The result is a hefty carbon footprint, according to our research. The healthcare industry’s net emissions (nearly a third of which come from the pharmaceutical industry) are estimated to account for 4.4% of global emissions, and if left unchecked, the figure will triple by 2025.
No wonder businesses are under pressure to go green. Innovative technologies such as biotechnologies, which substitute biological processes for artificial chemical reactions, are often seen as the solution to sustainability problems. Indeed, 80% of the most cutting-edge pharmaceutical companies have committed to net-zero goals by 2050 and many others have developed radical plans to reduce greenhouse gas emissions. Novartis aims to achieve carbon neutrality within its operations by 2025 and reach net-zero greenhouse gas emissions across its whole value chain by 2040. Danish giant Novo Nordisk has also committed to the cause, pledging to achieve net-zero emissions across its entire value chain by no later than 2045.
