CDMO presents third sustainability report
- Voluntary reporting of sustainability targets and progress strengthens customer relationships through transparency and accountability
- Economic success and ambitious sustainability goals can be achieved in conjunction with one another
- Aiming to be completely climate-neutral by 2050, Vetter joins the Science Based Targets Initiative (SBTi)
RAVENSBURG, Germany, May 08, 2024 / Biotech Newswire / -- Alongside its dynamic growth, Vetter announced that it achieved its sustainability goals for 2023. The Contract Development & Manufacturing Organization (CDMO) recently became a member of SBTi and is therefore committed to meeting strict CO2 reduction targets. The pharmaceutical service provider also achieved EcoVadis Platinum status last year, which pushes the company in the top one percent of participants in the globally renowned sustainability ranking. Since 2021, the company has voluntarily published an annual sustainability report, thereby setting an example for the compatibility of economic success and the implementation of ambitious sustainability goals in a high-energy consuming industry.
Vetter Managing Director Thomas Otto says: "Sustainable growth is not a marketing buzzword for us. We have made a very conscious decision to prioritize growing our sustainability goals dynamically in conjunction with the company's sustainable growth, and we publish status updates in a report that is accessible to everyone. This transparency also strengthens our customers' trust in us and supports them in their own sustainability reporting."
Vetter adheres to strict climate protection standards for businesses
The CDMO joined SBTi at the end of 2023. Members commit to contributing to a target of no more than 1.5 degrees Celsius of global warming. The initiative focuses on putting companies worldwide on track to halve their emissions by 2030 and become climate neutral by 2050. To achieve CO2 neutrality, Vetter needs to reduce its annual emissions by 4.2 percent.
As Senior Vice President Technical Service and Internal Project Management, Henryk Badack is responsible for the company's global sustainability activities and explains: "We are continuously investing in more efficient and climate-friendly processes. Joining the SBTi was the logical next step for us towards achieving Net Zero carbon emissions. To this end, we have defined a plan that sets out the specific measures we will take each year to further reduce our CO2 emissions. In view of the EU Sustainability Reporting Directive, which will apply to us beginning in the 2025/2026 financial year, we are proactively introducing CO2 reporting in accordance with the Greenhouse Gas Protocol."
Vetter has invested one million Euros in the construction of a large photovoltaic (PV) system on the roof of its state-of-the-art materials warehouse at the Ravensburg West site. The natural gas cogeneration plant at the site was also converted to biogas for a six-figure Euro sum. Since then, the PV system has generated around 700,000 kWh of electricity per year, which equates to around 10 percent of the site's electricity consumption. This reduces CO2 emissions by roughly 330 tons per year. The conversion to biogas saves around 1,000 tons of CO2 each year.
Vetter stands ready to implement EU supply chain legislation
Social responsibility is a long-prioritized part of Vetter's corporate philosophy and is firmly anchored in the company's sustainability strategy. The family-owned company commits itself and its business partners to a clearly defined code of conduct. With the help of the implemented compliance management system, the CDMO drives employees and partners to adhere to the compliance requirements. The company has introduced processes to assess compliance-related risks with business partners in order to also take these aspects of sustainability management into account.
Vetter Managing Director Peter Soelkner explains: "We support the objectives of the Supply Chain Due Diligence Act. Many of these requirements were already part of our compliance processes. In view of the upcoming EU Directive, we believe that politicians have a duty to maintain a balance between regulatory compliance and fostering a conducive environment for successful entrepreneurial action.”
Download the new Vetter sustainability report here.
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About Vetter
Vetter is a leading contract development and manufacturing organization (CDMO) with headquarters in Ravensburg and production sites in Germany, Austria and the USA. As a global player, the pharmaceutical service provider is close to its customers with its own sales offices in the Asia-Pacific markets of Japan, China, South Korea and Singapore. Small and large pharmaceutical and biotech companies around the world place their trust in the decades of experience, high quality, modern technologies, reliability and commitment of over 6,300 employees. In close partnership with its customers, Vetter supplies patients all over the world with medicines, some of which are essential to life. The CDMO provides support from process development through clinical and commercial filling to a wide range of assembly and packaging services for vials, syringes and cartridges. With innovative solutions, the pharmaceutical service provider develops pre-filled injection systems together with its clients to continuously improve patient safety, convenience and compliance. Vetter is a pioneer in the industry when it comes to sustainability and acts as a socially and ethically responsible corporate citizen. The pharmaceutical service provider is a member of the UN Global Compact, the Science Based Target initiative (SBTi) and holds platinum status in the EcoVadis ranking. Multiple awards such as the CDMO Leadership Awards, the Frost & Sullivan Customer Value Leadership Award and the Best Managed Company award underline the company's commitment to sustainable business practices. Founded in Ravensburg in 1950, the company is still family-owned today. For more information, visit www.vetter-pharma.com and follow Vetter on LinkedIn.
Contact
Vetter Pharma International GmbH
Markus Kirchner
Company Spokesperson / Media Relations
Eywiesenstrasse 5
88212 Ravensburg
Germany
+49 (0)751-3700-3729
This email address is being protected from spambots. You need JavaScript enabled to view it.
Keywords: Carbon Dioxide; Social Responsibility; Program Evaluation; Benchmarking; Pharmaceutical Services; Biotechnology; Pharmaceutical Preparations; Laboratories; Drug Packaging; Product Packaging; Outsourced Services; Commerce; Biological Products; Syringes; Germany; Net Zero; Sustainability goals; Sustainability report; EcoVadis Platinum status; CO2 reduction targets; Science Based Targets Initiative (SBTi); Climate neutrality; Climate protection standards; Photovoltaic (PV) system; Biogas; Compliance management system; Supply chain legislation; Compliance processes; Contract Development & Manufacturing Organization (CDMO); Supply Chain Due Diligence Act; Regulatory compliance; Process development; Clinical and commercial filling; Assembly and packaging services; Pre-filled injection systems; Patient safety; UN Global Compact; Family-owned company
Source: Biotech Newswire