We have been pleased with to see that pharmaceutical power player AstraZeneca is leading their industry with a strong commitment to clean energy and other sustainability priorities through a wide range of ambitious initiatives. The company maintains a long-term view that operating as a sustainable business, adopting environmentally friendly business practices, and becoming more energy-efficient is a reliable way to deliver additional value to both their shareholders and their consumers. Their commitment to clean energy is embodied in their goal of sourcing 100 percent renewable power worldwide by 2025.
AstraZeneca releases a yearly sustainability report that highlights their endeavors in moving the country and the world towards a clean energy economy. Their 2017 sustainability report details the company’s recent actions to reduce their carbon footprint, which includes an investment of $60 million in environmental efficiency innovations spent over the last three years. The company channels the investments through their Natural Resources Reduction Governance Group (NRRGG) Fund, which funds a number of environmental initiatives, including six projects that aim to drastically reduce the waste generated by the company’s future production efforts.
Many are taking notice. In January, Corporate Knights, a Toronto-based media and investment advisory firm, recognized AstraZeneca as one of the most sustainable companies in the world in their 14th annual Global 100 list. AstraZeneca ranked 34th on the list and was identified as a “biggest achiever” for their 300 percent increase in renewable electricity in a single year.
AstraZeneca’s other efforts include focusing on the environmental impact of their manufacturing partners by capturing the current environmental performance data of the manufacturing companies in their network. This allows them to enforce sustainability standards and establish future environmental initiatives.
While the company has done a great deal to invest in clean energy domestically, they have also garnered headlines for their global leadership. Most recently, the company partnered with the Cambridge Institute for Sustainability Leadership (CISL) in May to pilot a program to introduce portable biodigesters to Dunga Beach on Lake Victoria in Kenya, which will allow the local community to process organic waste into valuable clean energy.
For an industry that relies on science and innovation, it is reassuring to see that pharmaceutical companies are also doing their part to support clean energy development, and AstraZeneca is truly a leader among their peers. Of course, we have seen similar efforts across a number of industries; check out our Business Spotlight series for more innovative companies working toward a better future.