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Home Market News Biogen invests $250 million to eliminate its use of fossil fuels
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14 Sep 2020

Biogen invests $250 million to eliminate its use of fossil fuels

After achieving carbon neutrality in 2014, Biogen further bolsters its action against climate change with the goal to become fossil fuel free by 2040.

Biogen has announced a groundbreaking $250 million, 20-year initiative to eliminate fossil fuels across its operations and collaborate with renowned institutions with the aim to improve health.

Biogen’s goal is to eliminate its fossil fuel emissions by 2040, as well as be a catalyst for positive change by advancing the science around how fossil fuels affect human health and taking action to promote climate and health equity.

To achieve this goal the company plans to:

  • Support and encourag suppliers to become fossil fuel free. Biogen’s objectives include that 80% of suppliers commit to science-based targets by 2025 and that 50% source 100% of their electricity from renewable sources by 2030, expanding to 90% of suppliers by 2040.

  • Transition its fleet of more than 1,500 vehicles to electric by 2025 and to deploy infrastructure for workplace charging at more than 30 corporate locations.

  • Establish new green chemistry targets by 2021, integrating these principles into all stages of therapy development by 2023. Biogen intends that all products achieve more than 90% of the green chemistry targets by 2030.

  • Address fossil fuel-derived plastics by eliminating, minimizing or closed-loop recycling all plastics across all business functions and eliminating plastics in secondary and tertiary packaging by 2040.

  • Actively support other institutions in their efforts to combat climate change by increasing investments in high-performing ESG (environmental, social and governance) companies and investment funds.

  • Assist employees’ ability to go fossil fuel free in their homes and enable them to invest in ESG options in eligible retirement plans.

    • With this announcement, Biogen becomes the first Fortune 500 company committing to become fossil fuel free across its operations by 2040.

    “Our Healthy Climate, Healthy Lives initiative further builds on Biogen’s long-standing strategy to deal with climate change by addressing the interrelated challenges of climate and health, including in the realm of brain health,” said Michel Vounatsos, CEO, Biogen.

    According to Vounatsos, Biogen was the first company in the life sciences industry to become carbon neutral.

    Related tags
    Market Sustainability

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