Eli Lilly & Co is a leading pharmaceutical company headquartered in Indianapolis, Indiana, United States. The company was founded in 1876 by Colonel Eli Lilly, who was a pharmacist and a Civil War veteran. Today, Eli Lilly & Co is a global company with operations in more than 125 countries and employs over 33,000 people worldwide. The company's mission is to make life better for people around the world by discovering, developing, and delivering innovative medicines that help address some of the most pressing health challenges of our time.
As a large pharmaceutical company, Eli Lilly & Co is committed to reducing its carbon footprint and contributing to the decarbonisation of the industry. The company has set ambitious goals to reduce its greenhouse gas emissions and increase the use of renewable energy sources. In 2019, Eli Lilly & Co announced its commitment to sourcing 100% renewable electricity globally by 2023 and reducing its absolute Scope 1 and 2 greenhouse gas emissions by 25% by 2030, compared to its 2017 baseline.
To achieve these goals, Eli Lilly & Co is implementing a range of measures to reduce its energy consumption and increase the use of renewable energy. The company is investing in energy-efficient technologies and processes, such as LED lighting, building automation systems, and advanced manufacturing technologies. Eli Lilly & Co is also exploring opportunities to generate renewable energy on-site, such as solar panels and wind turbines.
In addition to these measures, Eli Lilly & Co is also exploring corporate power purchase agreements (PPAs) as a way to increase its use of renewable energy. A corporate PPA is a long-term contract between a company and a renewable energy provider, in which the company agrees to purchase a fixed amount of renewable energy at a fixed price over a set period of time. By entering into a corporate PPA, Eli Lilly & Co can secure a reliable and cost-effective source of renewable energy and support the development of new renewable energy projects.
Eli Lilly & Co has already signed several corporate PPAs to support its renewable energy goals. In 2019, the company signed a 12-year agreement to purchase 140 MW of wind energy from a wind farm in Texas. The wind farm is expected to generate enough renewable energy to power the equivalent of 40,000 U.S. homes each year and will help Eli Lilly & Co reduce its greenhouse gas emissions by approximately 35,000 metric tons annually.
Corporate energy is another area of focus for Eli Lilly & Co. The company is committed to reducing its energy consumption and improving the efficiency of its operations. Eli Lilly & Co has implemented a range of energy-saving measures, such as upgrading its HVAC systems, optimizing its lighting systems, and improving the energy efficiency of its manufacturing processes. The company also conducts regular energy audits to identify areas for further improvement and has established an Energy Management System to track its energy use and identify opportunities for energy savings.
In addition to these measures, Eli Lilly & Co is also exploring innovative technologies to improve the efficiency of its operations. For example, the company is using artificial intelligence (AI) and machine learning to optimize its manufacturing processes and reduce energy consumption. By analyzing data from its manufacturing operations, Eli Lilly & Co can identify opportunities to improve efficiency, reduce waste, and minimize energy consumption.
Overall, Eli Lilly & Co is a leader in the pharmaceutical industry when it comes to decarbonisation and corporate energy. The company has set ambitious goals to reduce its greenhouse gas emissions and increase the use of renewable energy, and is implementing a range of measures to achieve these goals. By investing in energy-efficient technologies, exploring corporate PPAs, and improving the efficiency of its operations, Eli Lilly & Co is demonstrating its commitment to sustainability and making a positive impact on the environment.