2023-06-28 09:50:58
corporate news
Sky News Arabia – Abu Dhabi
09:49 – June 28, 2023The AstraZeneca Company
As part of its strategy to reduce carbon emissions in line with the Paris climate agreement, British drugmaker AstraZeneca will invest $400 million in planting more than 200 million trees by 2030.
This pledge means investing regarding $60 million annually for one of the largest British companies listed on the stock exchange in terms of market capitalization, which amounts to approximately $230 billion.
AstraZeneca generated revenues of regarding $44 billion in 2022.
The new commitment in the field of sustainability is still much larger than previous pledges, as the company announced in 2020 that it will plant and nurture more than 50 million trees by the end of 2025.
And the company announced earlier this month that it would switch to biogas from cow manure and food waste in the United States, to reduce its carbon emissions there.
Researchers found that many global pharmaceutical and biotechnology companies have not yet set targets to cut carbon emissions in line with the Paris climate agreement.
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