Carbon Disclosure Project (CDP) 2008: Average score to Novo Nordisk
September 2008
Monday 22 September, this year’s CDP results were announced in New York. Novo Nordisk scored 56 points out of a maximum of 100. The average score for the chemicals and pharmaceuticals sector was 54 and the majority of the 500 biggest global companies scored between 40 and 70 points.
Adviser in Global TBL Management, Anne Gadegaard Larsen, comments on results:
- We haven’t reached our CO2 reduction target yet, but we’re on the right track. The growth in CO2 emissions is slowing down and when we compare growth in emissions to growth in sales, emissions have decreased to an index 76 in 2007 compared to 2003. The final break of the CO2 curve is expected by 2010 when the energy intensive insulin production will switch to green electricity from a wind farm which is currently being build in the North Sea.
While Novo Nordisk’s absolute reduction target is a plus in the CDP, the company is penalised for not reporting on emissions from transport, suppliers and product use.
- We have addressed emissions from production first as production accounts for a major part of our global carbon-footprint. Our next step is to look into how we can reduce indirect emissions, says Anne Gadegaard Larsen.
CDP pioneer
Novo Nordisk has participated in the Carbon Disclosure Project since the first rating was made in 2003.
- The CDP is an important driver for carbon performance both at corporate and global scale, says Anne Gadegaard Larsen.
Ambitious strategy
In January 2006, Novo Nordisk joined the WWF Climate Savers Programme and committed to cut the company’s total CO2 emissions by an absolute 10% from 2004 to 2014. In light of the projected significant growth in production capacity, the absolute target represents a relative reduction of approximately 65%.
In May 2007, Novo Nordisk signed a partnership on green electricity with Danish energy supplier DONG Energy. Under the partnership, Novo Nordisk pledges to convert realised energy savings at Danish production sites into the purchase of green electricity. The energy will be supplied from a new wind farm that DONG Energy is currently building in the North Sea. The partnership runs till 2020 and the goal is that by 2014 Novo Nordisk’s facilities in Denmark will be powered entirely by green electricity. 85% of CO2 emissions from Novo Nordisk’s global production stems from Danish production facilities as this is where the energy-intensive insulin bulk production is placed.
For more information about the Novo Nordisk climate strategy read here
About CDP
The Carbon Disclosure Project represents some 385 global institutional investors holding more than $57 trillion in assets under management. As an independent not-for-profit organization, CDP collects key climate change data from more than 1550 major corporations around the globe. For more information and download of the report: www.cdproject.net
