Bristol Myers Squibb Strengthens its Commitment to the Environment with New Corporate Goals

Rhea-AI Summary

Bristol Myers Squibb (NYSE: BMY) announced new sustainability goals aimed at enhancing its environmental commitment globally. By 2030, the company plans to source 100% of its electricity from renewable sources, and by 2040, it aims for carbon neutrality in Scope 1 and Scope 2 emissions. The initiatives also include equitable water use, zero waste to landfill, and a fully electric vehicle fleet. This follows a $300 million investment in Diversity & Inclusion and Health Equity, and aligns with the Science Based Targets Initiative for emissions reduction.

Positive

• Commitment to 100% renewable electricity by 2030.
• Goals for carbon neutrality in Scope 1 and Scope 2 emissions by 2040.
• Investment of $300 million in Diversity & Inclusion and Health Equity.

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• None.

Bristol Myers Squibb (NYSE: BMY) today announced it is strengthening its commitment to environmental sustainability on a global basis by setting new 2030 and 2040 goals. By 2030, the company will purchase 100% of the electricity it uses from renewable sources, and by 2040, it will be carbon neutral in its Scope 1 (direct) and Scope 2 (indirect) emissions and reach the targets of equitable water use, zero waste to landfill and 100% electric vehicles in its fleet.

These new environmental goals are in line with Bristol Myers Squibb’s strategy to leverage sustainability to drive innovation, build resiliency and manage non-financial risks across its operations and portfolio. Today’s announcement builds upon this year’s $300 million combined investment by Bristol Myers Squibb and the Bristol Myers Squibb Foundation in a series of commitments to Diversity & Inclusion and Health Equity, further enhancing the company’s efforts on environmental, social and governance (ESG) issues.

In addition to setting new 2030 and 2040 goals, Bristol Myers Squibb commits to set approved science-based emissions reductions targets in alignment with the Science Based Targets Initiative as a key step in the roadmap to delivering these environmental commitments.

“As a leading global biopharma company dedicated to transforming patients’ lives through science, we understand our responsibility to create maximum positive impact while minimizing our environmental footprint. Now, after 20 years of setting global sustainability goals, we are honing our focus to continue to reduce our energy consumption and greenhouse gas (GHG) emissions, improve water use and reduce waste,” said Danielle Menture, vice president of Sustainability, EHS and Occupational Health. “Along with announcing these goals, we commit to increased transparency in reporting our progress to internal and external stakeholders.”

Bristol Myers Squibb has a longstanding commitment to environmental sustainability. The company has been a signatory to the UN Global Compact (UNGC) for more than a decade, and has been reporting in alignment with the Global Reporting Initiative (GRI) framework since 2010. As part of its enhanced focus on transparency, the company will expand its reporting to include additional validated ESG frameworks such as SASB and TCFD, and publish ESG updates annually beginning in 2021.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. For more information about Bristol Myers Squibb, visit us at BMS.com or follow us on LinkedIn, Twitter, YouTube, Facebook, and Instagram.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20201216005047/en/

FAQ

What are Bristol Myers Squibb's new sustainability goals for 2030 and 2040?

Bristol Myers Squibb aims to purchase 100% of its electricity from renewable sources by 2030 and achieve carbon neutrality in its Scope 1 and Scope 2 emissions by 2040.

How much is Bristol Myers Squibb investing in Diversity & Inclusion and Health Equity?

Bristol Myers Squibb has invested $300 million in initiatives for Diversity & Inclusion and Health Equity.

What commitments is Bristol Myers Squibb making to reduce emissions?

Bristol Myers Squibb is committing to set science-based emissions reduction targets in line with the Science Based Targets Initiative.

What other environmental goals does Bristol Myers Squibb have?

The company aims for equitable water use, zero waste to landfill, and a fully electric vehicle fleet as part of its sustainability goals.