Novo Nordisk targets zero CO2 emissions from electricity by 2020

Danish drug maker Novo Nordisk (CPH:NOVO B) said it aims to exclusively use electricity from renewable sources at its global production plants by 2020 to cut CO2 emissions to zero.

The company already uses renewable power at its manufacturing facilities in Denmark, Brazil and Japan.

The goal of zero CO2 emissions in just five years is ambitious since the company is steadily increasing production to meet growing demand for diabetes products, said Henrik Wulff, executive vice president and head of Novo Nordisk Product Supply.

Last month, Novo Nordisk's production site Tianjin in China signed an agreement to purchase electricity from a windmill farm in Inner Mongolia, which is a major step toward achieving the 2020 ambition, the company said.

Similar agreements will be signed at existing sites in the US, France, Russia, Algeria and Iran in the coming years.

A focus on renewable power delivers not only climate benefits but is also beneficial for the cost structure. As investments in renewable electricity are increasing, the technology is expected to become even more efficient and less costly, Wulff said.

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