Committed to science and sustainability: What do Orion’s science-based climate targets mean?

Orion’s near-term emissions reduction targets have been validated by the Science Based Targets initiative (SBTi). What does Orion commit to, and how are we working to meet our ambitious climate targets? Find answers to these questions and much more right here.

10/7/2024 Author / Matleena Inget & Valtteri Manninen

Sustainability

What are science-based targets?
- Science-based targets help companies reduce emissions in line with Paris Agreement goals. Targets are 'science-based' if they align with the latest climate science to limit global warming to 1.5°C above pre-industrial levels.
- Setting these targets can also benefit businesses by future-proofing growth, saving money, providing regulatory resilience, boosting investor confidence, spurring innovation, and helping to communicate sustainability commitments to conscious consumers.
- The targets are validated by the Science Based Targets initiative (SBTi), a body backed by global environmental expert organizations such as WWF and the UN Global Compact. More than 6,000 companies globally have set targets which have been validated by the SBTi. Learn more from the SBTi website.
What does Orion commit to?
- Orion Corporation commits to reduce absolute scope 1 and 2 greenhouse gas (GHG) emissions 70% by 2030 from a 2023 base year.
- Orion also commits that 78% of its suppliers by emissions covering purchased goods and services, capital goods, and upstream transportation and distribution will have science-based targets by 2029.
- Scopes 1 and 2 refer to direct GHG emissions from our own operations and indirect emissions associated with the purchase of energy, respectively. These targets do not include carbon offsets.
Why are these targets important for Orion?
- Orion believes that industry plays a key part in tackling climate change. We want to be part of the solution.
- As an innovative pharmaceutical company, science is at the core of all our operations. Therefore, it was important for Orion to confirm that our near-term emissions reduction targets also align with the latest climate science.
- This approval is a significant step forward in our systematic sustainability work, and it reflects our purpose of building well-being.
How does Orion plan to meet these targets?
- Orion has compiled a reduction plan for the years 2023-2030 to ensure that the needed actions are taken in both own operations and in its value chain.
- In our own operations, we focus on improving energy efficiency and electrification of production processes. One example of such investments is our heat pump plant in Espoo, which generates CO2-free energy by utilizing waste heat and energy from outdoor air, significantly lowering our carbon footprint.
- We engage in constant dialogue with our suppliers, supporting and tracking their progress with setting their own SBTi targets.
What is the relationship between pharma and climate?
- The World Health Organization identifies climate change as one of the most significant health threats of the 21st century. Climate change affects health directly and indirectly, for example by altering patterns of infectious diseases, causing more extreme weather events and increasing respiratory illnesses due to poor air quality.
- Reducing the environmental footprint of the development and manufacturing of medicinal products is crucial to cut emissions, achieve low carbon innovations, and control pollution.
- The upstream pharmaceutical value chain – which refers to all stages needed to produce pharmaceutical products, their active ingredients, and starting materials – typically causes most of the emissions in the value chain. Therefore, collaboration between various actors along the pharmaceutical supply chains is essential for effective climate action.