The new 2030 goals are a key pillar of the Environmental, Social and Governance (ESG) strategy at the world’s leading generic medicine provider
Submitted by Teva Pharmaceuticals
January 12, 2021 /CSRwire/ - Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) has announced long-term environmental sustainability commitments and targets to provide direction and drive action in this area. Our new goals are part of Teva’s commitment to Environmental, Social and Governance (ESG) measurement, a key focus area for the business. ESG details how we achieve our business goals, underscores non-financial performance, and is considered critical to our long-term sustainability and success.
These environmental sustainability commitments are aligned to three areas of focus that were identified during the company’s recently completed ESG materiality analysis, which informed the development of our renewed strategy:
Specifically, the company has committed by 2030 to:
Eric Drape, Executive Vice President, Global Operations at Teva, said the targets are challenging but achievable, particularly given the size and complexity of Teva’s global operations.
“With over 60 manufacturing sites across many countries, we realize the meaningful impact we can have on the planet,” Mr. Drape said. “But we are – and want to remain – a leader in our industry in terms of environmental performance. We continue to monitor our progress and periodically re-evaluate our targets in order to continue to challenge ourselves.”
Industry approved standards
The company’s science-based target to reduce GHG emissions has been established to provide a level of decarbonization required to keep the global temperature increase to well below 2°C. This is compared to pre-industrial temperatures, as described in the Fifth Assessment Report of the Intergovernmental Panel on Climate Change (IPCC).
Teva is also enhancing its disclosures by aligning reporting with robust international standards, including Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB) and Task Force on Climate-Related Financial Disclosures (TCFD).
Leading the way
Teva’s current environmental performance has been recognised by a number of external benchmarks:
New goals for a new era
The new measures replace targets that were set in 2014 and retired in 2019 after they were either achieved or were no longer applicable, as a result of the integration of Actavis Generics operations into the wider business.
The 2030 timeline will help us align with the United Nations Sustainable Development Goals (SDGs). The 17 goals set by the UN in 2015 aim to end poverty, protect the planet and ensure all people enjoy peace, prosperity and health, as part of the 2030 Agenda for Sustainable Development.
Our new goals are part of Teva’s commitment to ESG and builds off our ongoing commitment to helping achieve the SDGs. Our business is inherently tied to ESG and reinforces our mission to be a global leader in generics and biopharmaceuticals, improving the lives of patients.
We are in the process of developing long-term commitments under the ‘Social’ and ‘Governance’ pillars that focus on expanding access to medicines to patients with unmet needs, ensuring that inclusion and diversity are embedded into our company’s culture and operations, and that ethics and compliance remain the touchstone for how we make business decisions and how we lead.
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) has been developing and producing medicines to improve people’s lives for more than a century. We are a global leader in generic and specialty medicines with a portfolio consisting of over 3,500 products in nearly every therapeutic area. Around 200 million people around the world take a Teva medicine every day and are served by one of the largest and most complex supply chains in the pharmaceutical industry. Along with our established presence in generics, we have significant innovative research and operations supporting our growing portfolio of specialty and biopharmaceutical products. Learn more at www.tevapharm.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding Teva’s environmental goals, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements.
Important factors that could cause or contribute to such differences include risks relating to:
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Teva Pharmaceutical Industries Ltd. (NYSE and TASE:TEVA) is a leading global pharmaceutical company that delivers high-quality, patient-centric healthcare solutions to millions of patients every day. Headquartered in Israel, Teva is the world’s largest generic medicines producer, leveraging its portfolio of more than 1,000 molecules to produce a wide range of generic products in nearly every therapeutic area. In specialty medicines, Teva has a world-leading position in innovative treatments for disorders of the central nervous system, including pain, as well as a strong portfolio of respiratory products. Teva integrates its generics and specialty capabilities in its global research and development division to create new ways of addressing unmet patient needs by combining drug development capabilities with devices, services and technologies. Teva's net revenues in 2014 amounted to $20.3 billion. For more information, visit www.tevapharm.com.
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