Orion’s near-term climate targets approved by the Science Based Targets initiative

ORION CORPORATION
PRESS RELEASE
30 SEPTEMBER 2024 at 10.00 a.m. EEST

Orion’s near-term climate targets approved by the Science Based Targets initiative

Orion Corporation is proud to announce that the Science Based Targets initiative (SBTi) has validated our near-term science-based targets. This means that our greenhouse gas (GHG) emissions reduction targets align with the latest climate science to limit global warming to 1.5°C above pre-industrial levels.

Orion Corporation commits

• to reduce absolute scope 1 and 2 GHG emissions 70% by 2030 from a 2023 base year
• that 78% of its suppliers by emissions covering purchased goods and services, capital goods, and upstream transportation and distribution will have science-based targets by 2029.

Scopes 1 and 2 refer to direct GHG emissions from our own operations and indirect emissions associated with the purchase of energy, respectively. These targets do not include carbon offsets.

“Industry must be at the forefront of tackling climate change,” says Liisa Hurme, President and CEO of Orion. “As an innovative pharmaceutical company, science is at the heart of everything we do, so it was important for Orion to confirm that our near-term emissions reduction targets also align with the latest climate science. This approval is a significant step forward in our systematic sustainability work, and it reflects our purpose of building well-being.”

Concrete measures for a more sustainable future

To attain these targets, Orion will continue to implement a range of measures, including energy efficiency projects at our production sites. We have made significant strides in improving energy efficiency, with projects that led to 11,459 MWh energy savings in 2023. For example, our manufacturing plants in Turku and Espoo have implemented innovative heat pump systems that utilize waste heat and energy from outdoor air, significantly reducing our carbon footprint. Our commitment extends beyond our own operations, as we work closely with suppliers and partners to reduce emissions throughout our value chain.

About the Science Based Targets initiative (SBTi)

The Science Based Targets initiative (SBTi) is a global body that enables businesses to set ambitious emissions reduction targets in line with the latest climate science. The SBTi defines and promotes best practices in emissions reductions and net-zero targets, providing companies with a clearly defined path to reduce emissions in line with the goals of the Paris Agreement.

Learn more: https://sciencebasedtargets.org/

About sustainability at Orion

Orion’s Sustainability Agenda covers four key themes: patient safety, environmental responsibility, employee well-being, and ethical business practices. We promote sustainability throughout the life cycle of a medicine – from the product development of our medicines and other products to their use and eventual disposal.

Our activities impact the environment and people around the world, so it is not enough for us to strive to improve our own operations. The sustainability of our value chain is equal to the sustainability of Orion, and together with our partners we are taking the pharmaceutical industry in a more sustainable direction.

Learn more: https://www.orion.fi/en/sustainability

Contact person:
Noora Paronen
Head of Corporate Responsibility
tel. +358 10 426 2258 

Publisher:
Orion Corporation
Communications
Orionintie 1A, FI-02200 Espoo, Finland
http://www.orion.fi/en
http://www.twitter.com/OrionCorpIR

Orion is a globally operating Finnish pharmaceutical company – a builder of well-being for over a hundred years. We develop, manufacture and market human and veterinary pharmaceuticals and active pharmaceutical ingredients. Orion has an extensive portfolio of proprietary and generic medicines and consumer health products. The core therapy areas of our pharmaceutical R&D are oncology and pain. Proprietary products developed by Orion are used to treat cancer, neurological diseases and respiratory diseases, among others. Orion's net sales in 2023 amounted to EUR 1,190 million and the company had about 3,600 employees at the end of the year. Orion's A and B shares are listed on Nasdaq Helsinki.