Seoul, South Korea – A recent study conducted by the Green Prescription Pharmacy Students Supporters and the Health Society for Pharmacists has revealed that South Korea's pharmaceutical industry is a significant contributor to greenhouse gas emissions, far surpassing other sectors like automotive and electronics.
The study, which analyzed the ESG reports of 30 major pharmaceutical companies in 2023, found that only 56.7% of these companies had published ESG reports, a rate significantly lower than the national average of 80% for 250 large companies. Moreover, many companies failed to disclose comprehensive greenhouse gas emissions data, particularly Scope 3 emissions, which cover indirect emissions from the value chain.
"The pharmaceutical industry, often perceived as clean, is having a substantial impact on the climate and environment," said [representative from Green Prescription]. "It's crucial for these companies to take proactive measures to reduce their carbon footprint and increase transparency in their operations."
The study found that the average greenhouse gas emissions of the 24 companies that disclosed their data were equivalent to the annual emissions of 2,600 people. Additionally, the pharmaceutical industry's greenhouse gas intensity, which measures emissions relative to revenue, was three to four times higher than that of major manufacturing companies like Hyundai Motor and LG Electronics.
Hanmi Pharmaceutical was found to have the highest greenhouse gas intensity among the surveyed companies, followed by Esteve Pharma and Samsung Biologics.
The researchers emphasized the importance of Scope 3 emissions reporting, as it provides a more comprehensive view of a company's environmental impact. However, only 20% of the surveyed companies disclosed their Scope 3 emissions data in a manner that was considered meaningful.
"As the global demand for ESG performance grows, it is imperative for South Korean pharmaceutical companies to step up their efforts," said [representative from Health Society for Pharmacists]. "By improving transparency and reducing their carbon footprint, these companies can enhance their international competitiveness and contribute to a more sustainable future."
The study highlights the urgent need for the pharmaceutical industry to address its environmental impact, from manufacturing processes to product disposal. By adopting more sustainable practices and increasing transparency, the industry can play a crucial role in mitigating climate change.
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