Sustainability Consulting
Science Based Targets Partner Sustainability
Full Credential Description
Pfizer faced the challenge of addressing the significant risks to human health posed by global climate change while striving to reduce its greenhouse gas (GHG) emissions. Between 2000 and 2014, the company successfully halved its GHG emissions and aimed to further reduce emissions by 20% from a 2012 baseline by 2020. Recognizing the need for a more ambitious approach, Pfizer set a science-based target in 2012, motivated by the findings of the Intergovernmental Panel on Climate Change (IPCC). This target aimed for a reduction of 60 to 80% from a 2000 baseline by 2050, ensuring that their goals were aligned with the scientific consensus on climate change mitigation.
To achieve these targets, Pfizer engaged in a collaborative process involving multiple departments, including environmental health and safety, environmental law, and global engineering. They worked closely with the Environmental Defense Fund to synthesize IPCC recommendations and apply them to their operations. This collaboration led to the establishment of a scope 3 target, requiring key suppliers to set their own science-based emissions reduction targets, recognizing that collective action is essential for meaningful change.
The results of Pfizer's initiatives have been significant. Since 2000, the company has implemented approximately 3,300 energy projects, resulting in annualized savings of around $150 million and a reduction of approximately 814,000 tonnes of CO2 emissions. Notable projects include the construction of a second wind turbine at their facility in Puurs, Belgium, which generates an additional 3.3 million kilowatt hours of clean energy, and the development of a $95 million production facility in Suzhou, China, designed to minimize energy and water consumption. These efforts not only contribute to environmental sustainability but also enhance operational efficiency without compromising product quality or employee comfort.
Pfizer's commitment to science-based targets has fostered a culture of sustainability within the organization, empowering employees to identify and implement energy-saving initiatives. The company has also recognized the importance of communication and leadership buy-in in overcoming challenges, particularly in a highly regulated industry where energy reduction efforts may face regulatory hurdles. Overall, Pfizer's proactive approach to setting and achieving science-based targets demonstrates the potential for substantial impact in mitigating climate change while maintaining business viability.