AstraZeneca Pledges $1 Billion to Cut CO2 Emissions
January 22 2020 - 5:38AM
Dow Jones News
By Dieter Holger
AstraZeneca PLC (AZN.LN) said Wednesday that it will invest up
to $1 billion to reach net zero carbon-dioxide emissions from its
global operations by 2025 and achieve carbon negativity across all
activities by 2030.
To meet the targets, the British drug company said it will
double energy productivity from renewables for both power and heat,
switch to an all-electric vehicle fleet five years ahead of
schedule, and develop inhalers with almost no propellants that add
to global warming.
The move was announced at the World Economic Forum in Davos,
Switzerland, which this year is focusing on combating climate
change.
The environmental impact of drug companies such as AstraZeneca
has come under scrutiny, with a study from McMaster University
published last year in the Journal of Cleaner Production suggesting
that the pharmaceutical sector produces 13% more CO2 emissions than
car manufacturers, despite having a market size that is 28%
smaller.
AstraZeneca Chief Executive Pascal Soriot will participate in
the first meeting of the Sustainable Markets Council at Davos, a
group of public-private leaders founded by Britain's Prince Charles
to drive solutions to environmental challenges.
"Climate change is an urgent threat to public health, the
environment and the sustainability of the global economy," Mr.
Soriot said.
Write to Dieter Holger at dieter.holger@wsj.com;
@dieterholger
(END) Dow Jones Newswires
January 22, 2020 05:23 ET (10:23 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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