By Joe Hoppe

 

GlaxoSmithKline PLC said Tuesday that it has set new environmental goals of net zero effect on the climate and net positive effect on nature by 2030.

The British pharmaceutical giant said that over the next decade, it will invest in measures to reduce environmental harm and in restoration programs to balance the remaining effect that it cannot reduce.

New targets have been set across different businesses to underpin these goals, including 100% renewable electricity usage and good water stewardship at all of its sites, sustainable sourcing of all materials and a transition to complete use of electric vehicles by sales representatives.

The new goals apply principally to GlaxoSmithKline's biopharma business and portfolio. The consumer healthcare business will also contribute to goals through the delivery of its own targets.

The new targets align with the most ambitious goals of the Paris Agreement, the company said.

"Improving the environmental sustainability of our business also makes us more resilient, protecting our operations, so we can deliver the products that patients and consumers rely on," Chief Executive Emma Walmsley said.

Shares at 0820 GMT were up 13.8 pence, or 1.0%, at 1338.6 pence.

 

Write to Joe Hoppe at joseph.hoppe@wsj.com

 

(END) Dow Jones Newswires

November 03, 2020 03:40 ET (08:40 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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