GSK: Growing Profits and Reducing GHG Emissions

GSK delivered a year of “excellent” financial performance in 2024 alongside some key sustainability improvements according to its 2024 Annual Report. 

It reduced its Scope 1 and 2 emissions by a further 12% throughout the year, a total reduction of 36% since 2020 alongside improvements in biodiversity management and water use. 

This is alongside group sales of £31.4bn (US$39.7bn), an 8% increase, and core operating profit growth of 13%. 

Claire Lund, Global Vice President, Sustainability at GSK, said on LinkedIn: “This work not only helps protect our planet and human health, but also safeguard our supply chains, improve operational efficiencies, prepare for upcoming regulatory changes and meet the rising demand in some countries for medicines and vaccines with a reduced environmental impact.”

In the report, Emma Walmsley, CEO at GSK, said: “GSK is committed to operating responsibly. This is core to who we are as a company and to delivering our ambition for patients, our people and long-term business success. 

“Being responsive to the environment in which we operate and the changing expectations of our key stakeholders, is critical to building trust. With that in mind, we continue to review and evolve the actions we are taking in all of our six areas.”

GSK’s emissions reductions

By 2030, GSK aims to reduce its absolute greenhouse gas emissions by 80% from a 2020 baseline. 

It has already achieved a 36% Scope 1 and 2 reduction. 

The remaining 20% of its footprint in 2030 will be offset by investment in nature-based solutions. 

By 2045, it aims to reach net zero greenhouse gas emissions across its full value chain with a 90% absolute reduction in emissions from a 2020 baseline and all residual emissions neutralised. 

The company originally planned to reach net zero by 2030, but has adjusted this to 2045.

This net zero target has been approved by the SBTi in line with the Corporate Net Zero Standard. 

How GSK is reducing its water use

GSK is part of the first group of companies to be working with the Science Based Target Network (SBTN) in a pilot to set validated science based targets for nature. 

The trial also includes Gucci owner Kering and Holcim. 

Erin Billman, Executive Director of Science Based Targets Network, says: “With global nature loss accelerating at an unprecedented rate, it’s clear that urgent, decisive action is required from governments and business alike to reverse and halt this trend.

“For companies, this means understanding their material impacts and dependencies on nature and taking ambitious science-based action to address and mitigate those impacts.

“Our corporate pilot has shown that science-based targets for nature are both feasible and valuable, closing a critical gap in corporate sustainability. 

“We’re pleased to see GSK, Kering and Holcim lead the way by publicly adopting the world’s first science-based targets beyond climate; demonstrating that a clear and credible pathway for ambitious action for nature is possible. 

“The time for companies to act is now — responsibly, urgently, and with the ambition that matches the scale of the challenge.”

Emma said: “As a global biopharma leader, we want to play our full part in protecting and restoring the planet’s health, in order to protect and improve people’s health. 

“Improving the environmental sustainability of our business makes us more resilient, so we can deliver the products that patients rely on.”

GSK already met its 20% water reduction goal in 2022, but has continued to reduce its overall water use by 28% from its 2020 baseline.

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