Parexel’s Near-Term Greenhouse Gas Reduction Targets Validated By SBTi

Mumbai, Aug 15, 2024: Parexel, a clinical research organization providing the full range of Phase I to IV clinical development services, has announced that its near-term science-based greenhouse gas reduction (GHG) targets have been validated by the Science Based Targets initiative (SBTi). SBTi validation is a recognition that is widely considered the gold standard for setting and reducing corporate GHG emissions. The company is one of the few global CROs with validated science-based targets.

SBTi has validated Parexel’s commitment to reduce absolute Scope 1 GHG emissions 42% by 2030 from a 2022 base year — as well as the company’s commitment to continue active annual sourcing of 100% renewable electricity through 2030 and to reduce absolute Scope 3 GHG emissions 25% by 2030 from a 2022 base year.

"Receiving SBTi validation for our near-term targets is an important milestone in our journey to achieving net-zero GHG emissions," said Chief Executive Officer Peyton Howell. 

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"Our environmental approach is comprehensive and multi-faceted and brings together team members from across Parexel. Together we are maximizing our industry partnerships and engaging our supply chain to collectively reduce the environmental impacts from our operations and contribute to a healthier planet,” Howell said.

As part of its net-zero roadmap, Parexel is executing plans to achieve its 2025 commitments, including increasing occupancy in green buildings, promoting sustainable travel options to reduce emissions, sourcing 100% of purchased electricity from renewable energy and advancing green clinical trials. Parexel’s 2023 ESG Report highlights the company’s ongoing efforts and reaffirms its core commitment to prioritizing patients and operating With Heart™.