Bristol Myers Squibb has announced it is strengthening its commitment to environmental sustainability on a global basis by setting new 2030 and 2040 goals. By 2030, the company will purchase 100% of the electricity it uses from renewable sources, and by 2040, it will be carbon neutral in its Scope 1 (direct) and Scope 2 (indirect) emissions and reach the targets of equitable water use, zero waste to landfill and 100% electric vehicles in its fleet.
These new environmental goals are in line with Bristol Myers Squibb’s strategy to leverage sustainability to drive innovation, build resiliency and manage non-financial risks across its operations and portfolio. Today’s announcement builds upon this year’s $300 million combined investment by Bristol Myers Squibb and the Bristol Myers Squibb Foundation in a series of commitments to Diversity & Inclusion and Health Equity, further enhancing the company’s efforts on environmental, social and governance (ESG) issues.
In addition to setting new 2030 and 2040 goals, Bristol Myers Squibb commits to set approved science-based emissions reductions targets in alignment with the Science Based Targets Initiative as a key step in the roadmap to delivering these environmental commitments.
“As a leading global biopharma company dedicated to transforming patients’ lives through science, we understand our responsibility to create maximum positive impact while minimizing our environmental footprint. Now, after 20 years of setting global sustainability goals, we are honing our focus to continue to reduce our energy consumption and greenhouse gas (GHG) emissions, improve water use and reduce waste,” said Danielle Menture, vice president of Sustainability, EHS and Occupational Health. “Along with announcing these goals, we commit to increased transparency in reporting our progress to internal and external stakeholders.”
Bristol Myers Squibb has a longstanding commitment to environmental sustainability. The company has been a signatory to the UN Global Compact (UNGC) for more than a decade, and has been reporting in alignment with the Global Reporting Initiative (GRI) framework since 2010. As part of its enhanced focus on transparency, the company will expand its reporting to include additional validated ESG frameworks such as SASB and TCFD, and publish ESG updates annually beginning in 2021.