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Granules’ Net Zero Commitment Validated and Approved by Science Based Targets Initiative
Granules' Ambitious Climate Targets Span Near-Term, Long-Term, and Net-Zero Goals, Aligned with the 1.5°C Pathway
Mumbai, India, November 27, 2024 – Granules India Limited, a leading global pharmaceutical company, has received validation and approval from the Science Based Targets initiative (SBTi) for its near-term, long-term, and net-zero goals.
These targets, aligned with the 1.5°C pathway, set Granules apart as one of the select Indian pharmaceutical companies with SBTi-validated targets under the initiative’s new guidelines. Granules’ goals are notable for their comprehensive scope and ambition.
Granules India Limited has committed to achieving net-zero greenhouse gas (GHG) emissions across its value chain, including all subsidiaries, by FY2050. In the near term, the company targets a 42% reduction in absolute Scope 1 and 2 emissions and Scope 3 emissions by FY2030, using FY2023 as the baseline, alongside transitioning to 100% renewable electricity. These near-term and long-term targets are aligned with the 1.5°C pathway, emphasizing Granules' dedication to ambitious climate action and achieving net-zero well before FY2050.
Speaking about this milestone, Dr Krishna Prasad Chigurupati, Chairman & Managing Director of Granules Limited, said, "Sustainability lies at the core of our decision-making and business strategy, as articulated in our purpose statement: healing lives responsibly through pioneering green science. I am proud that Granules has received SBTi validation and approval for our near-term and long-term goals, aligned with the 1.5°C pathway toward net-zero by 2050 or sooner. This milestone strengthens our commitment to accelerate decarbonization, integrate these targets across our operations and supply chain, and drive progress through collaboration and innovation."
About SBTi : The Science Based Targets initiative (SBTi), a collaboration among the Carbon Disclosure Project (CDP), United Nations Global Compact (UNGC), World Resources Institute (WRI), and World Wide Fund for Nature (WWF), provides guidance for companies to reduce greenhouse gas emissions. By defining how much and how quickly emissions must decrease to limit global warming to 1.5°C above pre-industrial levels, the SBTi offers a clear pathway to future-proof growth.
About Granules India Limited (BSE: 532482, NSE: GRANULES):
Granules India Limited, incorporated in 1991 is a vertically integrated fast-growing Indian pharmaceutical company headquartered in Hyderabad with best-in-class facilities and a commitment to operational excellence, quality, and customer service. Amongst the few pharmaceutical companies in the world to be present across the manufacturing of the entire pharmaceutical value chain – from Active Pharmaceutical Ingredients (APIs), Pharmaceutical Formulation Intermediates (PFIs), and Finished Dosages (FDs), Granules products are distributed to over 300+ customers in regulated and semi-regulated markets with a global presence extending to over 80+ countries with offices across India, US and UK. The Company has 10 manufacturing facilities out of which 8 are located in India and 2 are in the USA and has regulatory approvals from the US FDA, EDQM, EU GMP, COFEPRIS, WHO GMP, TGA, K FDA, DEA, MCC,
and HALAL.
For more information about Granules India Ltd and its initiatives, please visit www.granulesindia.com or contact: +91 40 6904 3500
Safe Harbor: This document is to provide general background information about the Company’s activities as at the date of the release. The information contained herein is for general information purposes only and based on estimates and should not be considered as a recommendation that any investor should subscribe / purchase the company shares. The Company makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information contained herein. This release may include certain “forward looking statements”. These statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties which could cause actual outcomes and results to differ materially from these statements. Important factors that could cause actual results to differ materially from our expectations include, amongst others general economic and business conditions in India, ability to successfully implement our strategy, our research and development efforts, our growth and expansion plans and technological changes, changes in the value of the Rupee and other currencies, changes in the Indian and international interest rates, change in laws and regulations that apply to the Indian and global pharmaceuticals industries, increasing competition, changes in political conditions in India or any other country and changes in the foreign exchange control regulations in India. Neither the company, nor its directors and any of the affiliates or employees have any obligation to update or otherwise revise any forward- looking statements. The readers may use their own judgment and are advised to make their own calculations before deciding on any matter based on the information given herein. No part of this release may be reproduced, quoted or circulated without prior written approval from Granules India Limited.
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Media Contact:
Priyanka Chawla Manager- Corporate Communications priyanka.chawla@granulesindia.com |
Investors Contact:
Chaitanya Tummala Company Secretary 040-69043614 |
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