Dr. Reddy’s Laboratories announces its commitment to achieving Net Zero greenhouse gas emissions across its value chain by FY2045. The company will reduce Scope 1 and 2 emissions by 80% and Scope 3 emissions by 51.6% per INR value added by FY2030. Dr. Reddy’s is the first Indian pharmaceutical company to commit to a science-based Net Zero target by FY2045.
Ambitious Climate Goals
Dr. Reddy’s Laboratories has announced its Net Zero targets, with both near-term and long-term science-based emissions reduction targets approved by the Science Based Targets initiative (SBTi). The company’s commitment aims for Net Zero greenhouse gas emissions throughout its entire value chain by FY2045.
Emissions Reduction Targets
The near-term targets include reducing absolute Scope 1 and 2 greenhouse gas (GHG) emissions by 80%, and Scope 3 emissions by 51.6% per INR value added by FY2030, using FY2023 as the base year. The long-term target commits to reducing absolute Scope 1, 2, and 3 emissions by 90% by FY2045, also from the FY2023 baseline.
Commitment to Sustainability
Sanjay Sharma, Global Head Operations and Chief Human Resources Officer, stated that Dr. Reddy’s is committed to achieving Net Zero by FY2045. He also mentioned that the company is on track to achieve coal- and furnace oil-free operations by the end of FY’26, with 68% of its power in FY’25 sourced from renewables.
Source: BSE
