Climate and environment
At BMS, we are dedicated to helping people prevail over serious diseases and we know our responsibility goes beyond medicine. That is why we are identifying solutions and implementing changes to our business that minimize our environmental footprint and address the harmful effects of environmental degradation and climate change on public health.
Climate risk management
Climate change is identified as a key risk within our enterprise risk management (ERM) matrix and is reviewed regularly through the ERM process. Climate related risks and opportunities are prioritized by their relative impact on BMS, the timeframe in which they may present themselves and our overall control to influence the situation.
Net zero roadmap
BMS has committed to achieving net zero emissions in Scope 1, 2 and 3 by 2050. We’re applying a multi-faceted approach that includes validation of our emission reduction targets by the Science Based Targets Initiative (SBTi) in 2024 and mobilizing multi-disciplinary teams around mid-term milestones.
Our roadmap includes implementing significant carbon reduction solutions across all our facilities, including manufacturing and research and development sites. This includes leveraging building automation systems and advanced technologies, fostering an eco-fleet, working with suppliers to reduce emissions across our value chain; and the purchase of renewable energy. An important part of our roadmap is employee engagement, providing our teams with the tools and resources to build sustainability practices into dedicated areas of our business including green and more sustainable science.
We are continuously evaluating related risks associated with climate change and integrating them into our risk management programs, business continuity and capital planning progress. This includes managing risk at all stages of our value chain – direct operations, upstream and downstream. Our climate-related risk disclosures are part of our Task Force on Climate-related Financial Disclosures (TCFD) report.
In 2022, BMS executed a 15-year virtual power purchase agreement (VPPA) for 60 megawatts (MW) at the 240-MW Cattlemen Solar Park in Milam County, located in central Texas. In November 2023, we secured an additional 15-year VPPA with National Grid Renewables’ Blevins Project in Texas for 145 megawatts (MW) of solar that is estimated to go live in the first quarter of 2026. Taken together, these are critical components in helping BMS achieve its goal of 100% of purchased electricity from renewable sources and an important milestone in our sustainability journey.
Supporting scope 3 reductions via supplier engagement
Together with our supplier partners, we can make a significant impact on our commitment to the environment and how we serve our patients. As part of our scope 3 supplier engagement program, we will continue to work with our suppliers on setting their own science-aligned or SBT targets.
Global effort to reduce GHG emissions
Globally, our teams work together on a shared mission to reduce GHG emissions and increase the use of renewable energy through facility upgrades and transformations, supporting the transition to zero-emission vehicles through our fleet program and optimizing energy efficiency at our sites.
Environmental sustainability is also integrated into how we work every day. We foster a strong sustainability culture that is core to our values and beliefs and our mission to transform patients’ lives through science. To fuel that vital mindset, we arm employees with tools, resources and training needed to ensure they think about the impact of their actions and incorporate responsible practices into their everyday lives.