CordenPharma joins sustainability initiative to achieve Net Zero

[Photo by CordenPharma] – CordenPharma CEO Dr. Michael Quirmbach (middle) and Corporate Safety, Health & Environment Manager Tobias Patommel (left) join Judith Charpentier, Partner, Head of Healthcare Investing at Astorg (right) to present CordenPharma’s signed Commitment Letter submitted to the Science Based Targets initiative (SBTi) on 1 December 2022.

The CDMO has joined the environmental initiative looking to align private sector companies with those aims upheld by the Paris Agreement to reduce global warming. 

The initiative helps companies to reduce emissions across the business. The aims are in line with those of the Paris Agreement; limiting the global temperature increase to 1.5 °C, to halve emissions before 2030 and achieve Net Zero by 2050. CordenPharma will be submitting their own specific targets to reduce emissions across the company as part of this agreement.

The SBTi is an independent body that assess and approves companies targets according to criteria they have set out to achieve those aims featured by the Paris agreement. It supports those companies in the private sector to give the best attempt at tackling climate change. The initiative was an idea born of the collaboration between the Committee for Development Policy (CDP), the United Nations Global Compact, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF).

Dr Michael Quirmbach, CEO & President of CordenPharma, commented: “Environmental, Social & Governance (ESG) is a top priority of both CordenPharma and our new private equity shareholders, Astorg. We are already working with companies such as Ecovadis on achieving the highest level of sustainability ratings for our facilities.
It is our responsibility as a leading CDMO to join the Science Based Targets initiative, as it represents a powerful opportunity to demonstrate to our customers how CordenPharma contributes towards the global transformation to a low-carbon economy. We know our customers put a lot of emphasis on ESG, so they look for that in a supplier. The validation and approval from the SBTi will give them visibility into understanding our reduction targets and processes to reduce carbon footprint throughout our organization at every level.”

Judith Charpentier, Partner, Head of Healthcare Investing at Astorg stated: “At Astorg ESG is a key part of sustainable value creation in our companies. As part of its ESG agenda, CordenPharma is making today a strong commitment to reduce its carbon emissions by joining the SBTi. Astorg will fully support the company on this journey.”

CordenPharma are adopting a company-wide collaborative approach by including all employees in implementing the action plan once approved by SBTi. By encouraging all areas of the company to be involved they hope to have greater success in achieving their targets for a Net Zero future as part of the initiative, as well as serving to educate and support all of the communities they impact.