The report unveils new targets to achieve net zero emissions across Teva's operations and value chain by 2045 and 100% renewable electricity across all Teva sites by 2035, as well as to reach 200% more total beneficiaries of health system strengthening and capacity building initiatives in support of underserved populations by 2026 (vs. 2022-23).
Healthy Future, Teva's renewed sustainability strategy, is a continuation of the Company's environmental, social and governance (ESG) journey and aligns with its Pivot to Growth strategy. Teva's 2023 Healthy Future Report demonstrates how this new approach is stronger, with enhanced action and transparency across areas most important to Teva and its stakeholders; bolder, with a clear focus on the six areas requiring the most attention to advance sustainability at Teva and create long-term value and simpler, with a refreshed and simplified governance model to further drive responsibility and ensure accountability.
'Operating in a sustainable way is the right thing to do,' said
Last year, Teva issued a second series of sustainability-linked bonds valued at
Getting more people the medicines they need
Based on an assessment of the Company's economic impact, Teva's generic medicines contributed to
Taking action to protect the planet
Teva reduced its scope 1 and 2 greenhouse gas emissions by 27% compared to 2019, achieving its 2025 target two years ahead of schedule. Teva also reduced its scope 3 emissions by 12% (vs. 2020)-tracking strongly against its goal of a 25% reduction by 2030-and engaged its suppliers in reducing their emissions. The Company announced ambitious goals of achieving net zero emissions across its operations and value chain by 2045 as well as 100% renewable electricity usage across all its sites by 2035. As a result of its efforts and transparency, Teva received an A- score from CDP for climate action.
Conducting business responsibly
Teva continued to instill a culture of integrity, publishing Teva's Integrity Hotline Complaints Procedure and training nearly 100% of targeted active employees on compliance and ethics. The Company also holds its suppliers to high sustainability standards. It evaluated 60% of significant suppliers on sustainability topics and received an A score from CDP for supplier engagement.
Stepping up at a difficult time
As a global company headquartered in
About Teva
Cautionary Note Regarding Forward-Looking Statements
This Press Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management's current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to: our ability to impact and effectively execute on our sustainability, social, economic, environment and governance related strategies and goals; environmental risks; failure to comply with applicable environmental laws, health and safety laws and regulations worldwide; our ability to select sustainability-related disclosure frameworks that seek to align with various reporting standards which may change from time to time; our ability to collect, measure and report sustainability information and metrics, which is subject to evolving reporting standards; our ability to satisfy the targets set forth in our sustainability-linked senior notes, our sustainability-linked revolving credit facility and in other sustainability-linked financing instruments that we may issue; the impact of sustainability issues and other environmental risks on our business and consequences of climate change; our ability to successfully compete in the marketplace, including: that we are substantially dependent on our generic products; our ability to successfully execute our Pivot to Growth strategy, including to expand our innovative and biosimilar medicines pipeline and profitably commercialize the innovative medicines and biosimilar portfolio, whether organically or through business development, and to sustain and focus our portfolio of generics medicines; our substantial indebtedness; compliance, regulatory and litigation matters, including: failure to comply with complex legal and regulatory environments; other financial and economic risks and other factors discussed in our Annual Report on Form 10-K for the year ended
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