INDIA – Cipla announced the acquisition of up to a 33% partnership interest in Clean Max Auriga Power in a deal that will see the latter become an associate of Cipla.
This agreement is in line with the Company’s commitment to enhance the share of renewable power sources in its operation and to comply with the regulatory requirement for being a captive user under electricity laws.
Kedar Upadhye, President & Global CFO, Cipla, said, “Environmental, Social and Governance (ESG) is at the centre of focus at Cipla and with this acquisition, we are progressing on the right track of being purposeful by embedding sustainability into our businesses. It is a testament to our commitment to using cleaner, renewable sources of energy and it fuels our ambition of enabling a greener environment.”
Clean Max Auriga Power is a special purpose vehicle that manufactures, supplies, and distributes solar, wind, and other renewable energy generation plants.
Bayer Pharmaceuticals is one of several pharmaceutical companies that have made environmental commitments to achieve carbon neutrality in recent years.
Consequently, Bayer has announced that it aims for 100 percent green packaging for consumer health brands by 2030 as part of a €100 million (US$112.93 million) sustainability plan,
The investment is equal to 2% of the division’s sales and will help drive sustainability while using the company’s products to “create a world where people can live healthier lives,” according to a news release from the pharma, consumer health, and crop science conglomerate.
This includes making all consumer health products, including vitamins and over-the-counter pain, allergy, and cold medications, 100 percent recyclable or reusable by the start of the next decade.
By 2030, the company also intends for all brand packaging to contain an average of 50% recycled content and all purchased paper to be sourced sustainably.
“We’ve been doing quite a bit behind the scenes to work on our products and start to transition, but this really sets it out with a clear road map,” said Daniella Foster, global vice president and head of public affairs, science and sustainability.
For example, by the end of this year, all shipping boxes will contain at least 80% recycled content. Bayer has also started using paper from responsibly managed forests for some of its global brands, such as allergy medication Claritin and pain reliever Aleve.
In addition, the company will invest in energy efficiency projects and increase its use of renewable energy to continue reducing carbon emissions, which it claims have already decreased by 30% between 2019 and 2020. It also pledged to collaborate with competitors to address the climate crisis as a whole.
Further to that, AstraZeneca has set aside US$1 billion to achieve zero emissions by 2025, while Novartis and GlaxoSmithKline have pledged to achieve carbon neutrality by 2030. Meanwhile, Biogen is in the midst of US$250 million initiative to eliminate the use of fossil fuels by 2050.
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