Catalent Publishes Fifth Annual Corporate Responsibility Report, Highlighting Progress and Reinforcing Long-Term Commitment
Catalent, Inc. (CTLT) commits to reducing greenhouse gas emissions by 42% by 2030 from its 2022 baseline, with a focus on supplier emissions. The company implements ISO-certified environmental management systems at 24 locations, emphasizing environmental sustainability, diversity, and community support.
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Catalent pledges to reduce Scope 1 and 2 greenhouse gas emissions by 42% by 2030 from its 2022 baseline.
The company commits to ensuring 70% of supplier emissions have science-based targets by end of fiscal 2028.
Catalent implements ISO-certified environmental management systems at 24 locations, accounting for over 70% of the company's energy use.
The company focuses on diversity and inclusion efforts, STEM education contributions, and community support.
Catalent emphasizes its commitment to improving the environment and contributing to society for a better future.
The company's Corporate Responsibility Report highlights progress in environmental sustainability and social impact.
Assessing Catalent's commitment to reducing Scope 1 and 2 greenhouse gas emissions by 42% from its 2022 baseline by 2030, it's evident that the company is aligning with broader environmental sustainability trends in the pharmaceutical industry. This target, validated by the Science Based Targets initiative, reflects a growing investor and consumer demand for corporate responsibility in climate action. The implementation of ISO-certified environmental management systems at key locations demonstrates a proactive approach to energy management, likely to result in operational efficiencies and possibly reduce long-term costs.
From a sustainability perspective, the commitment to engage suppliers to adopt science-based targets is significant. Supply chain emissions often constitute a large portion of a company's carbon footprint. By addressing this, Catalent not only reduces its indirect emissions but also encourages industry-wide sustainability practices. This could enhance Catalent's brand reputation and potentially lead to stronger relationships with partners who share similar values, which is increasingly important as consumers and investors alike scrutinize corporate sustainability profiles.
Catalent's focus on diversity and inclusion (D&I) is indicative of its understanding of the importance of an inclusive work environment in driving innovation and employee satisfaction. Recognition as a 'Best Place to Work for People with Disabilities' for the second consecutive year suggests that Catalent is not only talking the talk but also walking the walk in terms of creating a supportive environment for all employees. This is likely to improve employee retention and attract a wider talent pool, which is particularly crucial in the competitive pharmaceutical sector where talent is a key differentiator.
The company's support for STEM education aligns with the long-term strategy of building a skilled workforce and may contribute to a positive public image. However, the direct impact of such contributions on the company's financial performance is less immediate than other investments, such as R&D or capital expenditure. Nonetheless, these efforts may strengthen community relations and support the company's license to operate, which can indirectly benefit business operations.
The publication of Catalent’s Corporate Responsibility Report provides transparency on the company's corporate governance and ethical practices, which is increasingly important to investors. The focus on quality, safety and effectiveness in the treatments they develop, alongside the emphasis on continuous improvement—The Catalent Way—signals to stakeholders that the company is committed to high standards of operation. This can be reassuring to investors, as it suggests a lower risk of regulatory issues and a commitment to product excellence.
Volunteering and community engagement, as highlighted in the report, may not have a direct financial impact but contribute to a positive corporate culture and brand equity. In the long term, these actions can result in a more motivated workforce and a stronger corporate image, which are intangible assets that can indirectly affect financial performance and investor perception.
03/07/2024 - 08:00 AM
Commits to reducing Scope 1 and 2 greenhouse gas emissions by 42% from its 2022 baseline by 2030, with commitment to ensuring 70% of supplier emissions have science-based targets by end of fiscal 2028.
Implemented ISO-certified environmental management systems at 24 locations, which account for more than 70% of the company’s overall energy use.
Continued to build social impact through increased diversity and inclusion efforts, contributions to STEM education and other important causes, and support for communities in which the company operates, with a record year for volunteering as part of its annual Month of Service.
SOMERSET, N.J. --(BUSINESS WIRE)--
Catalent, Inc. (NYSE: CTLT), the leader in enabling the development and supply of better treatments for patients worldwide, has today published its fiscal 2023 Corporate Responsibility Report, highlighting positive progress across every pillar of Catalent’s corporate responsibility strategy – People, Environment, and Community. The report also outlines the company’s future commitments as it progresses its mission to help people lead better and healthier lives.
One area of significant progress in fiscal 2023 was Catalent’s efforts to reduce its environmental footprint and address the harmful effects of climate change. A key initiative supporting this progress was the implementation of ISO-certified environmental management systems at 24 Catalent locations, which account for more than 70% of Catalent’s overall energy use.
With new targets approved by the Science Based Targets initiative (SBTi), Catalent is committed to reducing its Scope 1 and 2 greenhouse gas (GHG) emissions by 42% by 2030 from its 2022 baseline. As part of the SBTi targets, Catalent has also committed to ensuring that 70% of supplier emissions will have science-based targets by end of fiscal 2028.
Alessandro Maselli, Catalent’s President and Chief Executive Officer, said: “Our mission to help people live better and healthier lives is made possible not only through our business, but through our actions and commitments to improve the planet and contribute more broadly to society.”
“Building on great progress in fiscal 2023, I am excited to share our expanded commitments to minimize our impact on the environment and build a better planet. I am extremely proud of our team and their ongoing work to build a diverse and inclusive working environment, and a brighter future for our people, shareholders, and the communities we serve.”
In addition to environmental performance, Catalent delivered several key initiatives throughout fiscal 2023 to help assure the quality, safety, and effectiveness of the treatments it develops, manufactures, and supplies for customers and the millions of patients who depend on them. This included the formal launch of The Catalent Way, with new leadership and a greater focus on continuous improvement to deliver consistent, reliable, and sustainable outcomes for clients, patients, and employees.
In fiscal 2023, Catalent continued its investment in cultivating a diverse and inclusive workplace, and was recognized for the second year in a row as a "Best Place to Work for People with Disabilities.”
In fiscal 2023, Catalent’s contribution to STEM education and other important causes remained close to its all-time high of $1.3 million
The fiscal 2023 Catalent Corporate Responsibility Report is available at catalent.com/2023-corporate-responsibility-report .
Further information can be requested by contacting corporateresponsibility@catalent.com .
ABOUT CATALENT
Catalent, Inc. is a global leader in enabling pharma, biotech, and consumer health partners to optimize product development, launch, and full life-cycle supply for patients around the world. With broad and deep scale and expertise in development sciences, delivery technologies, and multi-modality manufacturing, Catalent is a preferred industry partner for personalized medicines, consumer health brand extensions, and blockbuster drugs. Catalent helps accelerate over 1,500 partner programs and launch over 150 new products every year. Its flexible manufacturing platforms at over 50 global sites supply approximately 70 billion doses of nearly 8,000 products annually. Catalent’s expert workforce of nearly 18,000 includes more than 3,000 scientists and technicians. Headquartered in Somerset, New Jersey , the company generated nearly $4.3 billion
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Investor Contact:
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Media Contact:
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Source: Catalent, Inc.
What are Catalent's (CTLT) greenhouse gas emission reduction targets by 2030?
Catalent aims to reduce its Scope 1 and 2 greenhouse gas emissions by 42% by 2030 from its 2022 baseline.
What percentage of supplier emissions is Catalent (CTLT) committed to having science-based targets by the end of fiscal 2028?
Catalent is committed to ensuring that 70% of supplier emissions have science-based targets by the end of fiscal 2028.
What environmental management systems has Catalent (CTLT) implemented at its locations?
Catalent has implemented ISO-certified environmental management systems at 24 locations, which represent over 70% of the company's energy use.
What efforts has Catalent (CTLT) made towards diversity and inclusion?
Catalent has focused on increasing diversity and inclusion efforts, contributing to STEM education, and supporting communities in which it operates.
Where can the fiscal 2023 Catalent Corporate Responsibility Report be found?
The fiscal 2023 Catalent Corporate Responsibility Report is available at catalent.com/2023-corporate-responsibility-report.
