My Green Lab recently announced the launch of Converge, a collaborative supply chain initiative to encourage pharma industry suppliers to reduce the impact of labs in the corporate value chain. The initiative is supported by founding sponsors, including AstraZeneca, GSK, Bristol Myers Squibb, and Amgen.
Converge invites pharma companies with 10 or more labs already enrolled in My Green Lab Certification to join a collective initiative to encourage CROs, CMOs, CDMOs, and other suppliers to align with a United Nations goal of getting 95 percent of their laboratories certified at the highest level by 2030.
What’s in it for suppliers?
Through Converge, suppliers can engage with a repository of researchers and certified research organizations in sustainability. Collective buying cuts down on energy, water, and waste, saving suppliers costs and resources at various levels. Facilitated by My Green Lab, suppliers can also expect to be supported by peer-to-peer learning to stay abreast of the industry’s sustainability initiatives.
“Suppliers like CROs, CMOs, and CDMOs play a vital role in the industry, and based on our 2022 Carbon Impact Report, the majority of the impact of pharma comes from the value chain, with Asia–Pacific companies making up the greatest intensity. When suppliers partner with My Green Lab through Converge and earn My Green Lab Certifications, they are not only actively supporting lab sustainability but also solidifying their position as a trusted and preferred organization in the industry,” said James Connelly, My Green Lab’s CEO, in a recent press release.
My Green Lab has just released their latest report, "The Carbon Impact of Biotech and Pharma: Collective Action Accelerating Progress to the UN Race to Zero," which uses data provided by Intercontinental Exchange. Based on data from 226 publicly listed companies and 147 privately held companies, the report provides an inside look at the current state of the sector's carbon emissions, including key findings on Scope 3 emissions.
Capping Scope 3 emissions
The Greenhouse Gas (GHG) Protocol develops internationally accepted GHG accounting and reporting standards to achieve low emissions worldwide. One of its many complementary standards, The Corporate Accounting and Reporting Standard (Corporate Standard) sets standard methodologies for companies to quantify and report their corporate GHG emissions. The Corporate Standard requires a company to report its direct emissions (Scope 1), indirect emissions from the generation of purchased energy consumed by the company (Scope 2), and all other indirect emissions that occur in a company’s value chain (Scope 3).
Scope 3 represents the largest source of emissions, a significant opportunity to reduce overall GHG emissions. As they increasingly rely on contract services to meet various business needs, pharmaceutical companies need to engage suppliers, including CROs, CMOs, and CDMOs, in their efforts to cap Scope 3 emissions.