Lundbeck commits to become carbon neutral across the entire value chain by 2050

Lundbeck commits to become carbon neutral across the entire value chain by 2050

(PRESS RELEASE) COPENHAGEN, 4-Feb-2021 — /EuropaWire/ — Danish international pharmaceutical company H. Lundbeck A/S (Lundbeck) announces its new 15-year climate target, which includes a detailed action plan to reduce emissions, approved by the Science Based Targets initiative (SBTi), towards becoming completely carbon neutral by latest 2050. Sustainability is an important enabler of Lundbeck’s strategy, Expand and Invest to Grow. Actions to mitigate climate change will continue to permeate through all Lundbeck activities in the future.

The climate target requires that Lundbeck’s partners and suppliers reduce their carbon footprint by at least one fifth by 2034. Other actions include supporting as a power purchaser, the construction of a solar cell plant to power Lundbeck facilities in Denmark, phasing out of fossil fuel-based vehicles and reducing direct emissions from own facilities to one-third of today’s levels by 2034.

Since 2006, Lundbeck has reduced its CO₂-emissions by more than 70 percent and reached its first science-based target four years ahead of plan.

“Taking action to reduce climate impact is essential for ethical and sustainable business today, and we are proud to be a front runner in this area. Lundbeck supplies medicines to millions of patients every day, we operate in more than 50 countries, and have multiple production and research locations in the world. Over the coming years, we will be taking even more meaningful steps, together with our supply chain partners, to ensure we can reach our goal of becoming climate neutral across the value chain,” says Deborah Dunsire, CEO and President of Lundbeck.

“Our long-term ambition is to be #1 in Brain Health. We believe that leadership includes demonstrating that we lead bringing positive change to the world – towards the climate and to the society in which we operate. This is vital to our mandate to operate and continue to deliver transformative medicines to help patients conquer brain diseases.” says Dunsire.

Science-based approach
Lundbeck’s newest science-based target has been validated by the SBTi, an initiative that provides technical assistance and expert resources to companies who set science-based carbon reduction targets in line with the latest climate science.

“We are very pleased to see Lundbeck reinforce its leadership in the transition to a net-zero economy,” said Alberto Carrillo Pineda, Director, Science Based Targets at CDP, one of the Science Based Targets initiative partners. “By setting ambitious new science-based targets consistent with limiting warming to 1.5°C, Lundbeck is taking action to prevent the most damaging effects of climate change.”

Further information is available in Lundbeck’s 2020 Sustainability Report, which is being launched today on Lundbeck.com.

Facts and definitions

• The three elements in Lundbeck’s new 15-year climate target:
  • Commit to carbon neutrality no later than 2050
  • Further reduce carbon emissions from production and fleet drastically by almost two-thirds over the next 15 years (Reduce Scope 1 and 2 emissions by 63%)
  • Work with our suppliers and customers to reduce our carbon footprint outside our premises by nearly a fifth over the next 15 years (Reduce Scope 3 emissions by 19%)
• Scope 1, 2 and 3 emissions refer to distinct sources as defined in the Greenhouse Gas Protocol, the most widely used accounting standard from World Resources Institute (WRI) and World Business Council for Sustainable Development (WBCSD).
• SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).
• Targets adopted by companies to reduce greenhouse gas (GHG) emissions are considered “science-based” if they are in line with what the latest climate science says is necessary to meet the goals of the Paris Agreement – which aims to limit global warming to well-below 2°C above pre-industrial levels and to pursue efforts to limit warming to 1.5°C.
• Science-based targets provide companies with a clearly defined pathway to future-proof growth by specifying how much and how quickly they need to reduce their greenhouse gas emissions.
• Lundbeck’s continued efforts to reduce energy consumption and CO₂ emissions has been recognized as world leading by the independent interest group Carbon Disclosure Project (CDP). In 2020, CDP included Lundbeck in its Climate A-list – the highest possible rating awarded to the top 3% percent of the more than 9,600 companies surveyed by CDP worldwide. It is the fifth consecutive time that Lundbeck has achieved a leadership position. The A-listing is a recognition of Lundbeck’s climate actions prior to the new targets being announced.
• Lundbeck launched a new sustainability strategy in 2020 and has significantly improved its sustainability and ESG ratings.

Media contact:

Mikkel Ballegaard Pedersen
Media Relations
mbap@lundbeck.com
+45 30 83 20 44

About Lundbeck
H. Lundbeck A/S (LUN.CO, LUN DC, HLUYY) is a global pharmaceutical company specialized in brain diseases. For more than 70 years, we have been at the forefront of neuroscience research. We are tirelessly dedicated to restoring brain health, so every person can be their best.

Millions of people worldwide live with brain diseases, and far too many suffer due to inadequate treatment, discrimination, a reduced number of working days, early retirement and other unnecessary consequences. Every day, we strive for improved treatment and a better life for people living with brain diseases – we call this Progress in Mind.

Our approximately 5,600 employees in more than 50 countries are engaged in the entire value chain throughout research, development, production, marketing, and sales. Our pipeline consists of several R&D projects and our products are available in more than 100 countries. We have research facilities in Denmark and the US and our production facilities are located in Denmark, France and Italy. Lundbeck generated revenue of DKK 17.7 billion in 2020 (EUR 2.4 billion; USD 2.7 billion).

For additional information, we encourage you to visit our corporate site www.lundbeck.com and connect with us on Twitter at @Lundbeck and via LinkedIn.

SOURCE: H. Lundbeck A/S