Latest news with #KatrineDiBona
Yahoo
04-04-2025
- Business
- Yahoo
Drugmaker reveals unsettling details of new strategy amid public outrage: 'It will be worse before it gets better'
A Danish drugmaker has revealed a stunning increase in pollution amid plans to boost production of its popular weight loss drug, and the matter will take some time to resolve. As detailed by Reuters, Novo Nordisk announced in February that it saw a 23% increase in heat-trapping pollution last year, and it expects that percentage to climb as it churns out more of the weight management medication Wegovy to meet demand. "Emissions come with growth," said Katrine DiBona, the drugmaker's corporate vice president of global public affairs and sustainability, adding: "It will be worse before it gets better. And that's also super-important for us to be very transparent on that." In its 2024 annual report, Novo Nordisk reported it has made progress in reducing direct emissions and indirect emissions from purchased energy. However, 96% of its pollution comes from its supply chain. The increase in Novo Nordisk's Scope 3 pollution highlights the need for solutions to better support sustainable growth, as pollution from dirty fuels is connected to millions of premature deaths every year. It also sparks a crucial discussion about how businesses build and market their products. The drugmaker says in its report that it isn't backing down from its plan to achieve net zero by 2045, a concept in which its pollution generation is balanced by the amount absorbed. In order to do that, it is eyeing a 33% reduction in Scope 3 pollution by 2033 compared to a 2024 baseline by switching to low-carbon materials and feedstock and supporting supplier transitions to clean energy. However, Sasja Beslik, chief investment strategy officer at SDG Impact Japan, told Reuters that this interim goal didn't seem to be realistic given that the company hadn't decoupled its growth and emissions goals, raising questions of whether Novo Nordisk is giving lip service to sustainability to limit the risk of scrutiny or whether it is truly committed to its aims. "Sounds like a fairy tale," Beslik said. "The sustainability angle is not part of the valuation of the stock and has no bearing on financial results, unfortunately." While more than 1,800 of its suppliers have agreed to transition to renewable power, Novo Nordisk acknowledged in its report that "these measures will not be enough to meet our target," adding that it will also consider new and emerging technologies to "close the gap." Do you worry about air pollution in and around your home? Yes — always Yes — often Yes — sometimes No — never Click your choice to see results and speak your mind. More broadly, Wegovy has been in the spotlight after an aggressive marketing campaign boosted its profile. Weight-loss drugs like Wegovy are also receiving hype on social media — no stranger to promoting the latest trends and fueling overconsumption. As CBS News reported, health care professionals have raised concerns that some patients may not be using the medicines as intended amid the buzz, highlighting how mindful consumption can support both public health and the planet. "My sense is that many people posting on social media are using these drugs but don't meet the medical criteria for using them," Dr. Cecilia Low Wang, a UCHealth expert in endocrinology, diabetes, and metabolism, said in a release. "Even though this can be an amazing drug for many people, each person is unique and you need to make an informed decision," Low Wang added. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Reuters
05-02-2025
- Business
- Reuters
Wegovy maker Novo Nordisk says surging growth driving emissions higher
LONDON/COPENHAGEN, Feb 5 (Reuters) - Novo Nordisk emissions grew 23% in 2024, the company said on Wednesday, and will keep rising through the end of the decade as it boosts production of blockbuster obesity drug Wegovy. The company is spending billions to ramp up its Wegovy output as demand soars. "Emissions come with growth," said Katrine DiBona, corporate vice president of global public affairs and sustainability at Novo Nordisk, told Reuters in an interview. The Danish drugmaker said however its expansion plans do not change its commitment to the 2045 net zero emissions goal it set in 2021. In its annual report published with its fourth-quarter financial results on Wednesday, it also announced an interim target to cut its Scope 3 emissions by 33% by 2033 from a 2024 baseline. Scope 3 emissions - which include those from all suppliers in a company's supply chain - account for 96% of Novo's overall total. Novo Nordisk's plans to cut emissions include converting to lower-carbon materials where possible, and setting expectations for suppliers to use green power for deliveries. DiBona said some levers will not be available for some years, which is why the company expects emissions to keep rising until 2030. "It will be worse before it gets better. And that's also super important for us to be very transparent on that." Experts said the company's interim target seemed unrealistic, since it was not decoupling growth from emissions. "Sounds like a fairy tale," said Sasja Beslik, chief investment strategy officer at asset manager SDG Impact Japan, in response to the targets. Beslik said companies generally do not suffer reputational risk for setting climate targets and failing to reach them. "The sustainability angle is not part of the valuation of the stock and has no bearing on financial results, unfortunately." Novo previously reported a 55% increase in emissions from 2022 to 2023, but revised its emissions accounting to restate the 2023 data. Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here. Our Standards: The Thomson Reuters Trust Principles., opens new tab
