Multinational pharmaceutical company Teva Pharmaceutical announced a series of new sustainability goals, including targets to achieve net zero emissions across the company’s operations and value chain by 2045 and to reach 100% renewable electricity across all Teva sites by 2035.
The new goals were announced alongside the release of Teva’s 2023 Healthy Future Report, outlining the company’s initiatives under its “Healthy Futures” sustainability strategy (04/19/2024).
Teva, a global pharmaceutical company headquartered in Israel, has surpassed its greenhouse gas emission reduction targets ahead of schedule, achieving a 27% reduction in Scope 1 and 2 emissions compared to 2019. While it fell short of its 25% reduction goal for Scope 3 emissions, it has made progress, achieving a 12% reduction compared to 2020.
Teva has introduced new goals to expand health system strengthening initiatives and has launched multiple access to medicine programs, nearing its target of 8 programs by 2025.
Additionally, the company has demonstrated its commitment to social responsibility by encouraging employee volunteering and establishing the “Support the Soul” program to support mental resilience in Israel.
NetZero involves balancing the greenhouse gas emissions released into the atmosphere with those that are reduced or removed. This is crucial because these emissions, such as carbon dioxide, trap heat and contribute to climate change. Transitioning to renewable energy sources like solar power is a key strategy for cutting emissions.Teva is dedicated to achieving NetZero across all our operations and value chain by 2045. This commitment not only improves air and water quality but also contributes to a healthier planet.
CMA Prasad Lale, Cost and Management Accountant
“Operating in a sustainable way is the right thing to do. Our renewed sustainability strategy is our purpose in practice—we are all in for better health—and our 2023 Healthy Future Report shows how we are taking action and tracking progress in areas where Teva can uniquely make an impact.”
Richard Francis, Teva’s President and CEO
