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Pharma Tech Outlook | Monday, February 28, 2022
The Prudential Regulation Authority (PRA), which modulates UK banks, credit unions, and insurers, intends to strengthen its surveillance of major cloud computing providers
FREMONT CA: Despite the general public's distrust of the pharmaceutical industry, it remains an industry that revolves around a pre-dominant social mission. While there is no direct evidence that climate change has influenced the spread of Covid-19, the current pandemic is emblematic of how global warming and its root causes are making the world more vulnerable to emerging pathogens, according to the Harvard School of Public Health's Center for Climate, Health, and the Global Environment.
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Climate change and sustainability are well-established near the top of the pharma sector's public agenda in 2021, on the eve of another crucial UN climate summit, COP26 in Glasgow, from large players joining the net-zero drive operations to more granular forums such as the Biopharma Sustainability Roundtable. While the pharmaceutical industry now has aggressive carbon reduction objectives and public displays of unity (GSK is one of COP26's main partners), there is evidence that the industry still has a long way to go before it properly understands its carbon footprint and wider environmental impact.
Pharma businesses, like other industries, have been busy setting targets and partnering on sustainability efforts as the climate emergency has continued to entrench itself into the priorities of the corporate community and the public consciousness. According to Kirsty Reid, director of science policy at the European Federation of Pharmaceutical Industries and Associations (EFPIA), the bulk of EFPIA's member companies have made precise public commitments on emissions decrease, often in line with the values set by the Science-Based Targets initiative. To improve public transparency, much of the sector publishes its emissions and environmental impacts to the Carbon Disclosure Project.
The pharma industry is pushing up its pledges and message on net-zero, a vital component of this year's discussions for both countries and businesses, with COP26 just days away and poised as a pivotal moment to escape climate disaster. GSK, a Summit partner, has made a slew of renewable energy commitments, including a 20-year Power Purchase Agreement involving electricity from two new wind turbines and a 20-megawatt solar farm for its Irvine manufacturing site in Scotland, which currently accounts for 40 percent of UK manufacturing CO2 emissions. Global climate health equality, according to Reid, is a goal, as is pushing forward on science-based targets and adopting a holistic, global approach to addressing climate concerns.
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