GSK injects £50 million in renewable energy for NYC Climate Week
Category: #energy-and-environment  By Pranali Mehta  Date: 2021-09-23
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GSK injects £50 million in renewable energy for NYC Climate Week

Pharmaceutical major, GlaxoSmithKline (GSK) has recently provided updates on its efforts to meet its environmental goals, which includes an investment of £50 million in renewable electricity for its manufacturing locations in the UK and US.

The company has also revealed a new initiative to cut carbon emissions from its rescue metered-dose asthma nebulizers, which account for nearly 50% of the company's carbon footprint.

These investments aligns with confirmation that the global medical and pharmaceutical sector is edging towards its Race to Zero' breakthrough' mark of 20% of key companies by revenue pledging to zero carbon emissions by 2050.

As per sources, the £50 million investment will be directed towards meeting the target to source 100% of electricity from renewables for its manufacturing facilities in the United Kingdom and the United States by 2025.

Furthermore, through a new 20-year Power Purchase Agreement (PPA) with its partner The Farm Energy Co., GSK will invest in a long-term project for two new wind turbines (8MW) and a 56-acre, 20MW solar farm.

Notably, GSK’s Irvine manufacturing facility in Scotland consumes the most energy in the its global network and accounts for 40% of CO2 emissions from its UK manufacturing facilities.

According to GSK, the venture will save 10,000 tons of CO2 per year and contribute significantly to achieving an on-site energy generation rate of 85% (55% from renewables).

In addition, GSK stated that by the end of 2021, it would have converted 70% of its power usage to solar energy at Oak Hill in New York, a key manufacturing plant in GSK's Consumer Healthcare network.

Source Credit - https://www.europeanpharmaceuticalreview.com/news/162905/gsk-invests-50-million-in-renewable-energy-for-climate-week-nyc/

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About Author

Pranali Mehta

Pranali Mehta    

Pranali Mehta boasts of over three years of experience as a content writer. Having completed her graduation in chemical engineering, she worked as safety & environment associate in a chemical company for a year. Harnessing her passion for writing however, Pranali deci...

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