Pfizer Inc. (NYSE: PFE) has been commended by the Carbon Disclosure Project (CDP) for its approach to addressing climate change. For the fourth consecutive year, CDP named Pfizer to its Carbon Disclosure Leadership Index, which highlights the company's climate change disclosure practices. Pfizer was ranked highest among the S&P 500 health care companies on the index - the third consecutive year that Pfizer made the S&P list - and ranked fourth on CDP's Global 500 health care companies list.
"Pfizer's commitment to reducing our impact on the environment fits perfectly with our mission to address health needs worldwide," said Nat Ricciardi, president of Pfizer Global Manufacturing and the company's leadership sponsor of its Environmental Sustainability Program. "I'm especially proud of the innovative ideas and hard work by our employees to achieve these reductions and contribute to Pfizer's sustainable practices."
According to Mr. Ricciardi, Pfizer exceeded its initial goal to reduce greenhouse gas emissions by achieving a 43 percent reduction relative to revenue between 2000 and 2007. The company's second goal, to be achieved between 2007 and the end of 2012, is to cut greenhouse gases by 20 percent on an absolute basis.
"We've made significant progress on our current goal," said Mr. Ricciardi. "Energy teams at Pfizer facilities around the world completed more than 500 conservation-related projects in 2009, greatly reducing Pfizer's annual energy usage while cutting C02 emissions by 120,000 metric tons."
Examples of Pfizer projects include installation of a biomass boiler at a plant in Freiburg, Germany; start-up of a five megawatt cogeneration unit in Grange Castle, Ireland; installation of high efficiency chiller and "free-cooling" heat exchanger at a commercial facility in Peapack, N.J.; reduced demand on HVAC systems through targeted hours of use and temperature settings at a research site in Sandwich, United Kingdom; and installation of energy-efficient light fixtures, occupancy sensors and timers at Pfizer facilities in Kalamazoo, Mich.
Paul Dickinson, Chief Executive of CDP, said the Carbon Disclosure Leadership Index recognizes companies that demonstrate good internal data management practices for understanding greenhouse gas emissions, including energy use. "Companies that make this index have also demonstrated clear consideration of how climate change is and will impact their business," Mr. Dickinson said. "As companies' understanding of climate change issues grows, they are better placed to take positive action to manage and mitigate its risks."
CDP is a not-for-profit coalition of 534 institutional investors with $64 trillion in assets under management. This index, a key component of CDP's annual S&P 500 Report, highlights the constituent companies within the S&P 500 Index which have displayed the most professional approach to corporate governance in respect of climate change disclosure practices. Companies are scored on their climate change disclosure and high scores indicate good internal data management and understanding of climate change related issues affecting the company.
The S&P 500 Report, including names of companies featured in the Carbon Disclosure Leadership Index, can be found at www.cdproject.net.
Pfizer Inc.: Working together for a healthier world™
At Pfizer, we apply science and our global resources to improve health and well-being at every stage of life. We strive to set the standard for quality, safety and value in the discovery, development and manufacturing of medicines for people and animals. Our diversified global health care portfolio includes human and animal biologic and small molecule medicines and vaccines, as well as nutritional products and many of the world's best-known consumer products. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as the world's leading biopharmaceutical company, we also collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For more than 150 years, Pfizer has worked to make a difference for all who rely on us. To learn more about our commitments, please visit us at www.pfizer.com.