Novo Nordisk Sets Zero Emissions Target

By Dieter Holger

Novo Nordisk A/S (NOVO-B.KO) said Tuesday that it would reach zero carbon-dioxide emissions in its operations and transport by 2030, marking the latest push by a drug company to curtail the environmental footprint of the pharmaceutical industry.

The Danish drug company also said it was on track to meet the pledge it made in 2015 to only use renewables to power all its drug factories by 2020.

To meet its goal, the company has invested in a 672-acre solar-panel site in North Carolina. It will power Novo Nordisk's entire U.S. operations starting in early 2020.

Norvo Nordisk's efforts come as the drug industry faces scrutiny over its environmental impact. The pharmaceutical industry's emission intensity--or the ratio of emissions by product--is 55% higher than the automotive sector, according to a study published last month in the Journal of Cleaner Production, a scientific journal focused on sustainability.

"We are working toward a day when we will be able to say that Novo Nordisk is a company with zero environmental impact," said Lars Fruergaard Jorgensen, president and chief executive officer at Novo Nordisk.

All of the company's factories in Europe are powered by wind and its offices in Denmark use renewable power. Its facility in Tianjin, China, is also entirely powered by wind, while its factory in Montes Claros, Brazil, runs on hydropower.

To further reduce its environmental impact, Novo Nordisk said it will cut waste, water use and energy in the production of its drugs. It also announced a partnership with the Ellen MacArthur Foundation to make its products and the materials it uses recyclable and reusable.

Write to Dieter Holger at [e-mail]; @dieterholger

(END) Dow Jones Newswires

April 30, 2019 08:15 ET (12:15 GMT)

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