Novartis

Novartis reported gross GHG emissions (Scope 1 + 2 before carbon offsets) for the twelve months ending 31 December 2021 at 647 Kt (-70 /-9.8% y-o-y). Also positively, carbon intensity was down at 12 t (-2.2 /-15.3% y-o-y).

Novartis's Scope 3 emissions surged to 6,984 Kt (+933/+15% y-o-y). The performance has been erratic recently.

The company is committed to achieving carbon neutrality for Scope 1 + 2 by 2025, which translates into the estimated reduction of -162 Kt per annum over the period of FY2022 - FY2025. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

Also, the company commits to achieving net zero for all Scopes by 2040, which translates into the estimated reduction of -385 Kt per annum over the period of FY2021 - FY2040. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

Novartis aims to achive carbon neutrality across its entire value chain (all Scopes) in 2030. Companies normally become carbon neutral with the help of the acquisition of carbon offsets rather than absolute reductions in their own greenhouse emissions. Also, carbon neutrality does not include non-CO2 GHG emissions.

Novartis also has a science-based goal that, however, does not appear to explicitly target a company-wide reduction in emissions in absolute terms. Swiss multinational pharmaceutical company Novartis commits to reduce absolute scope 1, 2 and 3 GHG emissions 35% by 2030 from a 2016 base-year.