Lupin Secures SBTi Validation for Emission Reduction Targets

Global pharma major Lupin Limited (Lupin) today announced that its greenhouse gas (GHG) emissions reduction targets have been officially validated by the Science Based Targets initiative (SBTi). These validations cover all three emission scopes - Scope 1, Scope 2, and Scope 3 - aligning with the Paris Agreement to limit global temperature rise to 1.5°C.

This milestone underscores Lupin's commitment to sustainability and decisive climate action, positioning the company among a select group that has achieved comprehensive SBTi validation within a year of setting its climate targets.

Key short-term targets:

- Reduce absolute Scope 1 and 2 greenhouse gas emissions by 42.0% by FY 2030, with FY 2023 as the base year.

- Reduce Scope 3 greenhouse gas emissions by 61.07% by FY 2033, across purchased goods and services, fuel- and energy-related activities, upstream and downstream transportation and distribution, business travel, employee commuting, processing and use of sold products, and franchises, using FY 2024 as the baseline.

These goals are aligned with the 1.5°C pathway and validated under SBTi's latest guidelines, thereby positioning Lupin as a key participant in the global effort to combat climate change.

Ramesh Swaminathan, Executive Director, Global CFO, and Head of IT and API Plus SBU, Lupin, said, "The validation from SBTi underscores Lupin's unwavering commitment to reducing greenhouse gas emissions through a rigorous, science-driven approach. By setting ambitious targets, we are embedding sustainability into both our financial and operational strategies. These goals guide investments in renewable energy, energy efficiency, and low-carbon technologies across our global operations. Proactive action on climate change is essential not only for mitigating risks and optimising costs but also for unlocking opportunities for innovation and long-term growth."

Shares of Lupin Limited was last trading in BSE at Rs. 2089.65 as compared to the previous close of Rs. 2090.15. The total number of shares traded during the day was 5652 in over 869 trades.

The stock hit an intraday high of Rs. 2100.50 and intraday low of 2078.15. The net turnover during the day was Rs. 11814457.00.

Source : Equity Bulls

Keywords

Lupin INE326A01037 Pharmaceuticals GHGEmissions Reduction SBTi