We’re proud to announce that Veramed is once again a Climate Positive business, having offset 110% of our 2022 carbon footprint. In order to do this, we have continued our work with Earthly, the expert team dedicated to removing carbon, restoring biodiversity, and supporting community groups.
In order to offset more greenhouse gas emissions than we created, we needed to calculate our carbon footprint. Earthly provided a comprehensive assessment that used 106 data points, aggregating information from data partners like BeZero and Google Earth Engine, to give us a 2022 footprint of 385.1 tons of Co2e, or 2.08 tons per employee. In order to go Climate Positive, we then offset a further 10% of our emissions total to reach 424 tons of carbon.
So how did we offset these emissions? We invested in four of Earthly’s nature based solutions, chosen by our employees. These projects are not only helping to restore nature, but also increase biodiversity and benefit local communities.
The Projects
Peatland Protection, Rimba Raya
This project protects one of the most highly endangered ecosystems in the world, saving carbon-rich, peatland forest of Rimba Raya from turning into palm oil estates that emit over 100 million tons of carbon into the atmosphere.
Tropical Forest Protection, Mai Ndombe
The Mai Ndombe forest protection project is not only about protecting the world’s second-largest intact rainforest but also about helping local communities.
Mangrove Restoration, Delta Blue
Delta Blue Carbon is the largest mangrove forest restoration project in the world. Once a thriving ecosystem, in recent decades the mangroves were devastated by large-scale deforestation.
Seaweed Farming, Cornwall
An early stage, nature-based innovation helping write the science to scale up seaweed farming across the South West of the UK. Seaweed grows quickly, rapidly removing carbon from the atmosphere and creating shelter and food for wildlife.
Why is it a calculation of 2022 and not 2023?
Going climate positive with Earthly is an annual process that determines the total footprint over a 12 month period based on a range of contributing factors, such as the total number of employees at a given time. However, this isn’t a one-off, pat on the back investment that helps us sleep at night. This is an annual commitment to offset our carbon footprint.
How we’re going beyond
Since our first offset last year, we’ve been actively working with Earthly and with organizations in our industry to inspire change. Over the past two years, we’ve discussed ESG strategies and promoted the importance of ethical business at conferences such as PHUSE and PCMG. In fact, we offset the emissions for the 2022 PCMG Annual Assembly, making it the first climate positive pharmaceutical event. And just last month we offset the carbon footprint for the PSI Conference in London, as well as providing recyclable lanyards as part of a three-year commitment.
We want to help inspire change within the bio-pharmaceutical industry to focus more on sustainability and caring for our planet, which is why initiatives such as our work with Earthly are ingrained in our global strategy going forward.
Our B Corp connection with Earthly
Our commitment with Earthly is a great reflection of both our core values and our B Corp strategy. We are dedicated to using business as a force for good and as a B Corp, we are committed to the highest verified standards of social and environmental performance, transparency, and accountability. This is why we’ve chosen Earthly to help us offset our carbon footprint.
As a fellow B Corp certified organization, Earthly holds themselves to the B Corp standard, ensuring environmental projects are fully accountable and transparent. An independent science board at Earthly containing a diverse range of experts helps maintain this high standard, coordinating with global projects that focus on UN Sustainable Development Goals.
We’re passionate about encouraging positive change in our industry and we’re always interested in working with like-minded individuals and businesses. Be a part of a movement and join a team of passionate individuals that are addressing climate change.
