Lupin's emission reduction targets validated by SBTi

Lupin Limited announced today that its greenhouse gas (GHG) emission reduction targets, covering Scope 1, Scope 2, and Scope 3, have been officially validated by the Science Based Targets initiative (SBTi). This validation aligns Lupin with the Paris Agreement goal to limit global temperature rise to 1.5°C, positioning the company among a select group to achieve comprehensive SBTi validation within a year of setting its climate targets.

The company's short-term targets include a 42.0% reduction in absolute Scope 1 and 2 GHG emissions by FY 2030, using FY 2023 as the base year. Furthermore, Lupin aims to reduce Scope 3 GHG emissions by 61.07% by FY 2033, with FY 2024 as the baseline. This Scope 3 reduction encompasses various categories, including purchased goods and services, fuel- and energy-related activities, upstream and downstream transportation and distribution, business travel, employee commuting, and the processing and use of sold products and franchises.

Ramesh Swaminathan, executive director, global cfo, and head of IT and API Plus SBU, highlighted that this validation underscores Lupin's commitment to sustainability through a rigorous, science-driven approach. He noted that these ambitious targets embed sustainability into both financial and operational strategies, guiding investments in renewable energy, energy efficiency, and low-carbon technologies across Lupin's global operations.