we offer
Corporate Sustainability
With increasing sustainability demands to businesses like ESG (Environmental, Social and Governance) and CSRD (Corporate Sustainability Reporting Directive), sustainability has moved up the corporate ladder in MedTech and Pharma companies and gained significant attention at the strategic level.
As sustainability engineers, we are experts at analyzing and designing sustainable medical devices at the R&D level. However, we are also proficient in the strategic and reporting side of medical device sustainability.
How do we work within the framework of the Science Based Targets Initiative when developing new medical devices? What exactly is absolute sustainability, and how do we set goals and measure progress within this paradigm. These are some of the questions that our team of sustainability engineering specialists can help your organization answer at the strategic level.
CSRD
CSRD (Corporate Sustainability Reporting Directive) is the European directive requiring companies of a certain size to conduct sustainability reporting.
At Technolution, we help Pharma and MedTech companies collect all relevant numbers and data to ensure sufficient quality when reporting to the authorities.
Science Based Targets Initiative
Science Based Targets Initiative (SBTi) is, as implied by the name, based on the most recent climate science. Pharma and MedTech companies adhering to SBTi must reduce their greenhouse gas emissions in a way that meets the goals of the Paris Agreement – i.e. limiting the global warming at 1,5 degrees C above pre-industrial levels.
Within the SBTi framework, companies must work to reduce GHG emissions within three scopes[1]:
- Scope 1: Direct GHG emissions owned or controlled directly by the company.
- Scope 2: Indirect GHG emissions from consumption of purchased electricity, heat or steam.
- Scope 3: Other indirect GHG emissions such as extraction and production of materials not owned or controlled by the company.
For many product manufacturers, Scope 3 emissions are the most challenging to reduce as it most likely requires changes to product and service systems. However, for MedTech and Pharma companies, many of the offerings of the sustainability engineers at Technolution – e.g. material selection and analysis of existing products – will most likely have a direct effect on Scope 3 emissions.
With a self-developed tool based on the latest academic research, Technolution can help you break down your long-term Scope 3 targets into near-term strategies that pave the way to successfully reaching your goals – linking strategy deployment with portfolio management.