Biogen Inc (NASDAQ:BIIB) plans to eliminate fossil fuel use across its operations by 2040, the US biotechnology company announced earlier this week.
The new goal makes the company the first in the Fortune 500 list to commit to eliminating its fossil fuel emissions by 2040.
The move is part of the USD-250-million (EUR 212m), 20-year Healthy Climate, Healthy Lives initiative, which, in addition to making the company fossil fuel-free, envisages partnering with institutions to advance the science around fossil fuels' impact on human health and improve health outcomes.
The company already achieved a net zero carbon footprint in 2014. To reach its new target, Biogen plans to use 100% renewable energy for its power supply by 2040 and replace its fleet with electric vehicles by 2025. The company will also back suppliers' efforts to eliminate fossil fuel use.
Biogen will set new green chemistry targets by next year and integrate them into all stages of therapy development by 2023. The company's products are expected to meet over 90% of the green chemistry targets by 2030.
The company's partners in its initiative include Massachusetts Institute of Technology (MIT) and the Harvard T.H. Chan School of Public Health. (USD 1.0 = EUR 0.847)