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Climate Action
Delivering on our Climate Commitment
Saving energy and reducing CO2 emissions are long-standing strategic priorities for Lundbeck. Over the past decade, we have made significant achievements in lowering our energy and carbon footprint. We are committed to exceeding these achievements through the targeted goals of the Science Based Target initiative.
Our achievements
We were one of the first Danish companies to have its CO2 reduction target approved by the Science Based Target initiative, a collaboration between the Carbon Disclosure Project (CDP), UN Global Compact (UNGC), World Resources Institute (WRI) and World Wide Fund for Nature (WWF).
We have been acknowledged several times by the CDP, which rates the disclosure and management of organisations towards climate change risk. For more than a decade, we have consistently reported annual reductions in both energy consumption and CO2 emissions. Today, we use 35% less energy and emit 68% less CO2 than in 2006.
Despite our achievements, we still have a long way to go and the next decade is critical. In 2019, we joined the global movement “Business for 1.5°C” of leading companies aligning their business actions with the most ambitious aim of the Paris Agreement.
Our commitment
Our current CO2 target is a 70% reduction by 2035 compared to 2016. We have achieved excellent results within our direct emissions (Scope 1) and purchase of electricity and heat (Scope 2). However, more than 90% of our total CO2 emissions are derived from our value chain (Scope 3). This includes where the goods and services we need are produced, the distribution of our products to patients, when our employees travel, and how our waste is treated.
Knowing where to prioritise is critical and we are using our influence across the value chain to drive action. We are acting quickly to obtain the Science Based Target initiative approval of our reductions across all three scopes.
We are making it a priority to expand our scope of action to reduce CO2 emissions within our value chain. In parallel, we are accelerating the transition to renewable energy in our manufacturing and headquarter facilities. These flagship actions are supplemented by the continuous enhancements of our facilities and business processes our skilled engineers, technicians and planners conduct.
Investor transparency
The financial sector and investors increasingly ask companies to disclose their climate-related risks and opportunities. We will continue to develop our communication and ongoing reporting to enhance our transparency in line with the recommendations from the Task Force on Climate-related Financial Disclosures (TCFD).
