Oliver Wyman March 24, 2023
Dr. Oliver Eitelwein , Dr. Clemens Freytag , and Emily Hall

Pharmaceutical companies are making bold pledges to reduce their carbon footprints. Getting there means overcoming some significant hurdles.

Editor’s note: This is the first article in a series on how pharmaceutical companies can achieve their net zero goals.

A sizeable — and influential — number of pharmaceutical companies have set ambitious goals to reduce their carbon footprints. An estimated 46% of pharmaceutical and biotech companies by revenue signed the United Nation’s Race to Zero campaign and committed to halve their emissions by 2030, with the ultimate goal of reaching net zero emissions by 2050. And last November, seven of the largest pharmaceutical companies came together to quicken climate action along their...

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