In November 2023, Vetter officially joined the Science Based Targets Initiative (SBTi) membership group, aligning with the global commitment to achieve climate neutrality by 2050—representing the most stringent climate protection goals for companies worldwide. Vetter has pledged to meet the 1.5 degrees global warming target and has outlined a comprehensive sustainability strategy outlining specific measures through 2030. This strategy anticipates the effects of planned dynamic growth and addresses CO2 emissions. Notably, Vetter is taking significant strides towards Net Zero in 2023 with the establishment of a new photovoltaic plant and the conversion of an existing combined heat and power plant to biogas, both situated at its Ravensburg Center for Visual Inspection and Logistics.
By becoming an SBTi member, Vetter is not only committing to ambitious climate targets but is also adopting standardized monitoring and reporting practices for CO2-relevant processes in line with international Greenhouse Gas (GHG) Protocol specifications. The company has already included part of its Scope 3 emissions and reported the CO2 balance according to the GHG protocol in its latest sustainability report.
Addressing the energy-intensive nature of pharmaceutical production, Vetter has invested substantially in developing local infrastructure for sustainable energy generation. In 2023, the company allocated around one million euros to install a large photovoltaic system on the roofs of its advanced warehouse in Ravensburg and a six-figure euro investment to convert a natural gas heat and power plant to biogas. These initiatives contribute to a significant reduction of approximately 330 tons of CO2 per year through the PV system and an additional 1,000 tons per year through the conversion to biogas.
Vetter's commitment to sustainability is underscored by its Platinum status in the ecovadis ranking, placing it among the top one percent of the most sustainable companies globally. The elevation from Gold to Platinum status was attributed to enhanced initiatives for sustainable supply chains, including measures for supplier assessment and risk analyses in the domains of environment and human rights. Vetter's active role in the UN Global Compact (UNGC) and consistent sustainability reporting also contributed to its outstanding rating.
Recognized for its steadfast commitment, Vetter recently received the Top Climate Commitment 2024 seal from FOCUS Magazine, positioning the company on the recommendation list for exceptionally ambitious climate initiatives. In addition, the CDMO was honored with the Environmental Management Award 2023 in the category of "Best Strategy for Sustainable Corporate Development" by the German Federal Ministry for the Environment, Nature Conservation, Nuclear Safety, and Consumer Protection. The integrated management system implemented by Vetter, encompassing ecological, economic, and social pillars, played a pivotal role in securing this accolade.
About SBTi:
The Science Based Targets Initiative (SBTi) is a global organization facilitating companies in setting ambitious climate targets based on current climate research outcomes. The initiative aims to guide companies worldwide in reducing emissions by 50% by 2030 and achieving climate neutrality by 2050. SBTi is a collaborative effort involving the Carbon Disclosure Project (CDP), the United Nations Global Compact, the World Resources Institute (WRI), and the Worldwide Fund for Nature (WWF).
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