The Value in Committing to Conscientious Corporate Stewardship

Shivshankar S.R

Sustainability has become a real necessity and the pursuit of organizations across the globe, as many now throw down the scientific gauntlet.

It is important for organizations to proactively set targets and focus on long-term initiatives that will provide value realization and business transformation toward creating a more sustainable and resilient future. Indeed, within our own business, our adherence to the Science Based Targets initiative (SBTi) through our strategic partnership with EY Parthenon¹ underscores our commitment to conscientious corporate stewardship.

At the time of the announcement, I had noted that our alliance with EY Parthenon marks a pivotal advancement in our sustainability pursuit and that by leveraging their esteemed expertise in industrial decarbonization, we are poised to expedite our net zero objectives, thereby effectuating a meaningful reduction in our carbon emissions. Keeping that in mind, when it comes to net zero objectives, I am referring to “we” as large-scale manufacturers.

Overall, embarking on the journey toward decarbonizing entire processes will undoubtedly prove overwhelming for many. Still, if we want to restrict global temperature fluctuations, then it is one that we must all embrace.

Ultimately, it’s about looking toward the future and trying to understand wide-ranging stakeholder needs to create long-term and effective solutions. When it comes to addressing environmental schemes and proposals, every part of the manufacturing process needs to be considered. Organizations could look at a number of measures to reduce their carbon footprint, which could include:

• Implementing an energy management system and increasing the usage of renewable energy sources, including solar power. This is something we do, with the aim of reducing fossil fuel consumption by 20-25%.
• Improving overall equipment effectiveness (OEE) by addressing machine time hours to reduce energy consumption.
• Looking at how and which devices can be used with the internet of things (IoT), in order to continually monitor energy consumption, as well as to create energy-efficient designs.
• Reducing waste generation within premises and upcycling where possible.
• Promoting the use of electric vehicles and making the move toward hybrid models.
• Undertaking sustainable practice through the use of zero liquid discharge, which can enable plants to save power and generate daily energy.
• Creating biodegradable and compostable barrier films and coatings, promoting the use of single polymer plastics when it comes to packaging materials, while also working with companies to reduce overall packaging size.

The mission to reduce the overall carbon footprint remains a driving principle for the pharmaceutical sector, with a focus on making manufacturing “contained, continuous and connected,” while optimizing raw material use and reducing waste.

We must continue to work collectively to achieve this goal, ensuring clear communication and complete transparency. We are moving in the right direction and already we’re seeing visible gains.

About the Author

Shivshankar S.R is the CEO of ACG Packaging Materials.

Reference

1. Kulkarni M. ACG Joins Forces With EY-Parthenon For Strategic Partnership. Pharma Now. June 13, 2024. https://www.pharmanow.live/latest-news/acg-joins-forces-with-ey-parthenon-for-strategic-partnership