New targets approved by Science Based Targets initiative (SBTi)
SOMERSET, N.J.–(BUSINESS WIRE)–Catalent, Inc. (NYSE: CTLT), the leader in enabling the development and supply of better treatments for patients worldwide, today announced its targets to reduce greenhouse gas emissions (Scope 1 and 2) by 42% by 2030. The company also committed to engaging with its suppliers, of purchased goods and services, capital goods, and upstream transportation and distribution, such that 70% of their emissions will have reduction goals aligned with science-based targets by the end of fiscal 2028. These targets have been validated by the Science Based Targets initiative (SBTi) and align to the organization’s ambition to limit global temperature rise to 1.5°C above pre-industrial levels.
“Our mission to deliver products that help people live better lives goes hand in hand with our commitment to environmental responsibility and actions to limit climate change,” said Alessandro Maselli, President and Chief Executive Officer of Catalent, Inc. “As a leading contract manufacturing and development organization, it’s important that we are guided by science-based targets and that we hold our partners accountable to the same standards so that we can make progress for a more sustainable future.”
Below are Catalent’s SBTi-approved targets:
- Reduce absolute Scope 1 and Scope 2 greenhouse gas emissions 42% by fiscal 2030 against a fiscal 2022 baseline year.
- Reduce absolute Scope 3 greenhouse gas emissions from fuel- and energy-related activities, and employee commuting by 25% within the same timeframe.
- Commit to engaging with its suppliers, of purchased goods and services, capital goods, and upstream transportation and distribution, such that 70% of their emissions will have reduction goals aligned with science-based targets. This commitment to be achieved by end of fiscal 2028.
Catalent achieved its initial carbon reduction goal ahead of time through site-based energy reduction projects and transitioning the majority of our sites to renewable electricity. In July 2021, the company signed a letter of commitment with the Science Based Target initiative (SBTi), joining a growing list of companies setting actionable, science-based greenhouse gas emission reduction targets to limit global warming.
Since 2021, Catalent reviewed and reinforced its roadmap to reduce greenhouse gas emissions with a focus on energy efficiency and renewable energy programs.
Catalent also conducted its first Scope 3 inventory in fiscal 2023 that showed more than 80% of its emissions are generated by its value chain. Catalent has strengthened and expanded its SBTi targets for Scope 3 to multiply impact through its suppliers. The company implemented a supplier engagement program to drive sustainability improvements, and support and monitor progress of its SBTi target along the value chain.
To learn more about how Catalent is improving operational efficiency, reducing greenhouse gas emissions, eliminating waste, and conserving water to contribute to the health of the planet, download the most recent Report at https://www.catalent.com/about-us/corporate-responsibility/.
The Science Based Targets initiative (SBTi) is a collaboration between the Carbon Disclosure Project (CDP), the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practice in science-based target setting and independently assesses companies’ targets.
Catalent, Inc. (NYSE: CTLT), is the global leader in enabling pharma, biotech, and consumer health partners to optimize product development, launch, and full life-cycle supply for patients around the world. With broad and deep scale and expertise in development sciences, delivery technologies, and multi-modality manufacturing, Catalent is a preferred industry partner for personalized medicines, consumer health brand extensions, and blockbuster drugs. Catalent helps accelerate over 1,500 partner programs and launch over 150 new products every year. Its flexible manufacturing platforms at over 50 global sites supply approximately 70 billion doses of nearly 8,000 products annually. Catalent’s expert workforce of nearly 18,000 includes more than 3,000 scientists and technicians. Headquartered in Somerset, New Jersey, the company generated nearly $4.3 billion in revenue in its 2023 fiscal year. For more information, visit www.catalent.com.
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