Latest news with #Science-BasedTargetsinitiative
Business Standard
4 days ago
- Business
- Business Standard
Farmson Becomes a Green Yodha: Partners with Schneider Electric to Champion ESG and Decarbonisation Goals
VMPL New Delhi [India], June 4: Schneider Electric, the global leader in the digital transformation of energy management and automation, and Farmson Basic Drugs Pvt. Ltd., a key manufacturer in India's pharmaceutical sector, have partnered to drive a comprehensive sustainability transformation initiative. This collaboration, initiated in February 2025, falls under Schneider Electric's flagship Green Yodha initiative and will enable Farmson to embed sustainability deeply into its operations through strategic consulting and digital solutions. As part of this engagement, Schneider Electric will deliver its end-to-end Sustainability Business offerings, helping Farmson define and execute a clear, actionable path toward environmental excellence through a three-pronged approach: * Strategize: Building a comprehensive inventory of Scope 1, 2, and 3 GHG emissions, developing science-based decarbonisation targets in alignment with the SBTi (Science-Based Targets initiative), and supporting CDP Climate Change reporting. Schneider Electric will also co-create a detailed ESG roadmap to guide Farmson's long-term sustainability journey. * Digitize: Implementing Resource Advisor, Schneider Electric's digital sustainability platform, to enable tracking & monitoring of key environmental indicators such as energy, water, and emissions, helping Farmson digitize and streamline its ESG efforts. * Decarbonise: Conducting energy and water maturity assessments across Farmson's three manufacturing sites, identifying practical actions for reducing emissions, energy use, and water consumption. The initiative will also support Scope 2 decarbonisation through an increased share of renewable energy, ensuring long-term operational efficiency with clearly defined investment and ROI metrics. Commenting on the initiative, Deepak Sharma, Zone President - Greater India, MD & CEO, Schneider Electric India, said, "At Schneider Electric, we are committed to empowering industries with practical, data-driven pathways to decarbonisation and sustainability. Through this collaboration, we are bringing our global expertise in climate strategy and digital transformation to help Farmson turn its sustainability ambitions into measurable action. Together, we are building a robust ESG framework, driving operational improvements, and delivering tangible outcomes that support growth, resilience, and long-term value creation." Echoing this sentiment, Vinit Menon, CEO, Farmson, said, "As a manufacturer in a resource-intensive industry, we recognize the urgent need to operate more responsibly -- not just for the environment, but for the long-term health of our business. Schneider Electric brings a structured and actionable approach to a complex challenge. This partnership gives us the visibility, tools, and expertise we need to take real steps toward reducing our emissions, optimizing energy and water usage, and aligning with global sustainability benchmarks. Our goal is to lead by example and demonstrate that sustainability and business performance can go hand in hand." The project is expected to be completed by October 2025, delivering both environmental benefits and operational cost savings, while setting a benchmark for climate leadership in the pharmaceutical sector. About Schneider Electric Schneider's purpose is to create Impact by empowering all to make the most of our energy and resources, bridging progress and sustainability for all. At Schneider, we call this Life Is On. Our mission is to be the trusted partner in Sustainability and Efficiency. We are a global industrial technology leader bringing world-leading expertise in electrification, automation, and digitization to smart industries, resilient infrastructure, future-proof data centers, intelligent buildings, and intuitive homes. Anchored by our deep domain expertise, we provide integrated end-to-end lifecycle AI-enabled Industrial IoT solutions with connected products, automation, software, and services, delivering digital twins to enable profitable growth for our customers. We are a people company with an ecosystem of 150,000 colleagues and more than a million partners operating in over 100 countries to ensure proximity to our customers and stakeholders. We embrace diversity and inclusion in everything we do, guided by our meaningful purpose of a sustainable future for all. Discover the newest perspectives shaping sustainability, electricity 4.0, and next-generation automation on Schneider Electric Insights. (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
Associated Press
28-01-2025
- Business
- Associated Press
Lumentum Secures Approval for Near- and Long-Term Greenhouse Gas Emissions Reduction Targets from the Science-Based Targets Initiative
Lumentum Holdings Inc. (" Lumentum"), a market-leading designer and manufacturer of innovative optical and photonic products for cloud, networking and industrial applications, announced today that its near-term and net-zero science-based targets for greenhouse gas (GHG) emissions have been approved by the Science-Based Targets initiative (SBTi). This approval highlights the company's ambitious goals to reduce GHG emissions based on the latest climate science and in alignment with the objectives of its key customers, including cloud data center and artificial intelligence infrastructure providers. Near-Term Greenhouse Gas Emissions Reduction Targets The SBTi approved Lumentum's near-term, science-based emissions reduction targets that align with the initiative's criteria for limiting global warming to 1.5°C, including: 90% reduction in absolute Scope 1 and 2 GHG emissions by Fiscal 2030, from a Fiscal 2022 baseline. 52% reduction per data capacity delivered in Scope 3 GHG emissions (from use of sold cloud and networking products) within the same timeframe. 30% of Lumentum suppliers to have their own science-based targets for emissions covering purchased goods and services by Fiscal 2028. 25% of Lumentum customers to have their own science-based targets for emissions covering use of sold products by Fiscal 2028. Long-Term Greenhouse Gas Emissions Reduction Targets The SBTi also approved Lumentum's long-term targets under its Corporate Net-Zero standard, as part of its commitment to reach net-zero GHG emissions across the value chain by 2050, including: Maintain a minimum 90% reduction in absolute Scope 1 and 2 GHG emissions expected in Fiscal 2030 to continue through Fiscal 2050, from a Fiscal 2022 baseline. 90% reduction in absolute Scope 3 GHG emissions by Fiscal 2050, within the same timeframe. 'Reducing greenhouse gas emissions is a priority for our customers, especially cloud operators and artificial intelligence infrastructure providers,' said Alan Lowe, president and CEO of Lumentum. 'The approval of our science-based targets by SBTi highlights our alignment with customer priorities and our determination to lead in our industry in both technology innovation and sustainability, benefiting our customers and all stakeholders.' The SBTi Net-Zero Standard is the world's only initiative that provides guidance and tools to help companies set net-zero targets in line with climate science. To learn more about science-based targets and climate action initiatives at Lumentum, please visit its Sustainability page. About Lumentum Lumentum (NASDAQ: LITE) is a market-leading designer and manufacturer of innovative optical and photonic products enabling optical networking and laser applications worldwide. Lumentum optical components and subsystems are part of virtually every type of telecom, enterprise, and data center network. Lumentum lasers enable advanced manufacturing techniques and diverse applications, including next-generation 3D sensing capabilities. Lumentum is headquartered in San Jose, California, with R&D, manufacturing, and sales offices worldwide. For more information, visit and follow Lumentum on LinkedIn, X, Facebook, Instagram, and YouTube. About the Science Based Targets Initiative (SBTi) The SBTi drives ambitious corporate climate action by enabling businesses to set emissions reduction targets in line with the latest climate science. A collaboration between CDP, the United Nations Global Compact, World Resources Institute, and WWF, the initiative aims to accelerate companies toward halving emissions before 2030 and achieving net-zero by 2050. Learn more at PUB: 01/28/2025 08:35 AM/DISC: 01/28/2025 08:35 AM
