Strategic Decarbonization
Bio/pharma companies should be approaching their decarbonization journey as a strategic business move for the future as industry stakeholders are placing greater value on sustainability.
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In 2024, the warmest day in recent history was experienced on Earth, with the daily global average temperature reaching 17.16 °C (1). In fact, over the past 13 months there has been a vast difference in temperature when compared with previous records, which is demonstrating the impact of climate change at an alarming scale.
Trying to stem the impact of global warming is something that is continually being assessed across many global industries, including the bio/pharma industry. Various initiatives and strategies have been put in place, such as The European Green Deal (2), aimed at helping economies and society in general become more sustainable. However, according to research, the healthcare sector contributes to 4.4% of global carbon emissions (3).
A report from NIRAS, a global manufacturing consultancy company, has set out a strategic framework for decarbonization and emphasized the importance of ‘future state planning’ for life sciences companies (4). Future state planning is a methodical approach whereby companies start by analyzing current practices in detail to see where change is needed and then develop a framework through which they can measure progress being made while also ensuring accountability.
However, future state planning, as with decarbonization in general, should not just be considered as a singular event, as specified in the report: “Future state planning is not a one-time effort; it is an ongoing process that requires regular review and adjustment […] Embarking on the decarbonization journey is a commitment to transformative change. It is a voyage that requires meticulous planning, steadfast determination, and the agility to adapt to new discoveries and innovations along the way.”
“As the world moves towards a more sustainable future, the process industries must take bold steps to decarbonize their operations,” said Lis Thodberg, sustainability director, NIRAS, in the report (4). “This transition is not just an environmental imperative but also a strategic business move, as stakeholders increasingly value sustainability.”
References
1. Copernicus. New Record Daily Global Average Temperature Reached in July 2024. News Release, 25 July 2024.
2. EC. COM(2019) 640 Final. Communication from the Commission: The European Green Deal. Brussels, Belgium (December 2019).
3. Dehipawala, S.; Goldman, E.; Hwang, E.; et al. The Pharmaceutical Industry’s Carbon Footprint and Current Mitigation Strategies: A Literature Review. Poster Presentation at the 2023 ISPOR Annual Conference, Boston, MA, 7–10 May 2023.
4. NIRAS. Decarbonisation in the Process Industries: What Can Manufacturers Do Now? Report (August 2024).
Article details
Pharmaceutical Technology Europe
Vol. 36, No. 8
September 2024
Page: 6
Citation
When referring to this article, please cite it as Thomas, F. Strategic Decarbonization. Pharmaceutical Technology Europe 2024 36 (8) 6.
