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Catalent Publishes Third Annual Corporate Responsibility Report
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Catalent, Inc. (NYSE: CTLT) has released its Corporate Responsibility (CR) Report for fiscal year ending June 30, 2021, marking its third report since initiating its CR strategy. The report details achievements in innovation, quality, and sustainability, aligning with SASB standards and TCFD recommendations. Key highlights include a 15% reduction in Scope 2 carbon emissions and a commitment to reduce Scope 1 and 2 emissions by 42% by 2030. Catalent's philanthropic giving exceeded $1 million, focusing on community support and STEM education, alongside efforts to enhance diversity within its workforce.
Positive
Achieved a 15% reduction in Scope 2 carbon emissions.
New commitment to reduce Scope 1 and Scope 2 emissions by 42% by 2030.
A significant majority of Catalent sites now powered by 100% renewable electricity.
Philanthropic giving exceeded $1 million, supporting local relief efforts and STEM education.
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SOMERSET, N.J.--(BUSINESS WIRE)--
Catalent, Inc. (NYSE: CTLT), the global leader in enabling biopharma, cell, gene, and consumer health partners to optimize development, launch, and supply of better patient treatments across multiple modalities, today published its Corporate Responsibility (CR) Report for its most recent fiscal year, which ended June 30, 2021. The report is the third since Catalent launched its CR strategy to address a wide range of environmental, social, and governance (ESG) topics related to its business.
The fiscal 2021 report details Catalent’s approaches and achievements in innovation, quality, supply chain responsibility, environmental sustainability, talent, and enhancing its relationship with its communities; as well as charting its performance relative to the standards set by the Sustainability Accounting Standards Board (SASB) standard for the biotechnology and pharmaceutical industries and, for the first time, the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD).
Building on years of continuous improvement since Catalent began focusing resources on ESG issues, this year’s report shares new progress in key areas such as carbon emissions, diversity and inclusion, and community investment. The report also covers Catalent’s significant contribution in manufacturing COVID-19 vaccine doses at unprecedented speed, while continuing its commitment to customers in producing more than 70 billion doses of other medicines spanning over 7,000 products.
“We set out our initial corporate responsibility goals in 2019, knowing that the mission ahead was going to be a long-term project that would require combined efforts across the whole Catalent team, as well as dedication and hard work to find meaningful solutions to issues of great importance,” commented John Chiminski, Chair and Chief Executive Officer of Catalent. He added, “No one could have predicted the events of the last two years on a global basis, but, in what has been another extraordinary and challenging year, we have made great progress in a range of areas, including emissions reduction and diversity and inclusion, while remaining steadfastly true to our core values of always putting people and patients first.”
The report highlights Catalent’s achievement in fiscal 2021 of an earlier goal to reduce Scope 2 carbon emissions by 15% and its new commitment to science-based targets that will reduce Scope 1 and Scope 2 emissions 42% by 2030 from Catalent’s fiscal 2020 baseline. Additionally, as of July 1, a significant majority of Catalent sites are powered by 100% renewable electricity. The company also committed to no residual active pharmaceutical ingredient in its wastewater above Predicted No Effect Concentration by fiscal 2024, a standard that exceeds all known regulatory requirements.
As noted in the report, Catalent’s philanthropic giving was the highest ever, exceeding $1 million, in part due to its support of local relief efforts during the COVID-19 crisis; as well as investing in science, technology, engineering, and math (STEM) education; and donations to organizations that serve patients, with a focus on underserved communities. Catalent’s leadership diversity has increased, and the company is committed to continually working to improve diversity and an inclusive culture at all levels and transparently share data. These commitments are reinforced by the company’s growing Employee Resource Group network, which reached 45 chapters across eight global communities during fiscal 2021.
Catalent, Inc. (NYSE: CTLT), an S&P 500® company, is the 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 1,000 partner programs and launch over 150 new products every year. Its flexible manufacturing platforms at over 50 global sites supply over 70 billion doses of more than 7,000 products to over 1,000 customers annually. Catalent’s expert workforce exceeds 18,000, including more than 2,500 scientists and technicians. Headquartered in Somerset, New Jersey, the company generated $4 billion in revenue in its 2021 fiscal year. For more information, visit www.catalent.com.
More products. Better treatments. Reliably supplied.™
Forward-Looking Statements
This release contains both historical and forward-looking statements. All statements other than statements of historical fact, are, or may be deemed to be, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of statements that include phrases such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “plan,” “project,” “predict,” “hope,” “foresee,” “likely,” “may,” “could,” “target,” “will,” “would,” or other words or phrases with similar meanings. Similarly, statements that describe Catalent’s objectives, plans, or goals, such as its future environmental targets and commitments, are, or may be, forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from Catalent’s expectations and projections. Some of the factors that could cause actual results to differ include, but are not limited to, the following: the current or future effects of the COVID-19 pandemic or any global health developments on Catalent's or its customers' or suppliers' businesses; participation in a highly competitive market and increased competition that may adversely affect Catalent’s business; demand for its offerings, which depends in part on its customers’ research and development and the clinical and market success of their products; product and other liability risks that could adversely affect Catalent’s results of operations, financial condition, liquidity and cash flows; failure to comply with existing and future regulatory requirements; failure to provide quality offerings to customers could have an adverse effect on Catalent’s business and subject it to regulatory actions and costly litigation; problems providing the highly exacting and complex services or support required; global economic, political and regulatory risks to Catalent’s operations; inability to enhance existing or introduce new technology or service offerings in a timely manner; inadequate patents, copyrights, trademarks and other forms of intellectual property protections; fluctuations in the costs, availability, and suitability of the components of the products Catalent manufactures, including active pharmaceutical ingredients, excipients, purchased components and raw materials; changes in market access or healthcare reimbursement in the United States or internationally; fluctuations in the exchange rate of the U.S. dollar against other currencies; adverse tax legislative or regulatory initiatives or challenges or adjustments to Catalent’s tax positions; loss of key personnel; risks generally associated with information systems; inability to complete any future acquisition, or other transaction that may complement or expand its business or divest of non-strategic businesses or assets and difficulties in successfully integrating acquired businesses and realizing anticipated benefits of such acquisitions; risks associated with timely and successfully completing, and correctly anticipating the future demand predicted for, capital expansion projects at existing facilities; offerings and customers’ products that may infringe on the intellectual property rights of third parties; environmental, health, and safety laws and regulations, which could increase costs and restrict operations; labor and employment laws and regulations or labor difficulties, which could increase costs or result in operational disruptions; additional cash contributions required to fund Catalent’s existing pension plans; substantial leverage that may limit its ability to raise additional capital to fund operations and react to changes in the economy or in the industry; and exposure to interest-rate risk to the extent of its variable-rate debt preventing it from meeting its obligations under its indebtedness. For a more detailed discussion of these and other factors, see the information under the caption “Risk Factors” in Catalent’s Annual Report on Form 10-K for the fiscal year ended June 30, 2021, filed August 30, 2021. All forward-looking statements speak only as of the date of this release, and Catalent does not undertake to update any forward-looking statement as a result of new information or future events or developments except to the extent required by law.
What is the latest Corporate Responsibility Report from Catalent about?
Catalent's latest Corporate Responsibility Report details its achievements in ESG areas for fiscal year ending June 30, 2021, including carbon emissions reduction and community support.
What are Catalent's commitments regarding carbon emissions?
Catalent has committed to reduce Scope 1 and 2 emissions by 42% by 2030 and has successfully reduced Scope 2 emissions by 15%.
How much did Catalent contribute to philanthropic efforts in fiscal 2021?
Catalent's philanthropic contributions surpassed $1 million in fiscal 2021, supporting local relief efforts and STEM education initiatives.
What sustainability standards does Catalent's CR report align with?
Catalent's CR report aligns with the Sustainability Accounting Standards Board (SASB) standard and the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD).
