Abbott Laboratories
From WikiClimate
Company Details
- Company name: Abbott Laboratories
- Country: USA
- Sub Sector: Pharmaceuticals
- Industry Group: Pharmaceuticals, Biotechnology and Life Sciences
- Parent Sector: Health Care
Abbott Laboratories is a global, broad-based health care company devoted to discovering new medicines, new technologies and new ways to manage health. It's products span the continuum of care, from nutritional products and laboratory diagnostics through medical devices and pharmaceutical therapies. Abbott has sales, manufacturing, research and development, and distribution facilities around the world, and employs some 68,000 people.
Carbon Disclosure
The following data is © Carbon Disclosure Project and was provided by Abbott Laboratories in response to the Carbon Disclosure Project Greenhouse Gas Emissions questionnaires.
Regulatory risks
Abbott currently has manufacturing locations subject to the EU Emissions Trading Scheme and will likely be impacted by future regulatory programs involving Cap and Trade or carbon taxes. As with many companies, these programs will have some financial implications associated with emission controls, purchase of credits or offsets and the like; however, since Abbott's energy use is relatively low, this is expected to have a limited and insignificant financial and operational impact on the company.
Physical risks
At this time any physical risks attributed to climate change are not expected to have material impact on the company. Abbott has a business continuity plan and crisis management team dedicated full time to the maintenance, update and implementation of this plan. It accounts for both natural and man-made events. While certain events such as flooding or drought may have a devastating impact on a particular facility or region, Abbott's business continuity plan enables Abbott to manage its business through such events to limit the manufacturing, product delivery and customer service impacts on a global basis.
General risks
While risks beyond a direct financial and physical risk do exist, we do not currently anticipate any to be material to the business. These risks could include supply chain interruption, utility and resource availability, or distribution barriers on a local or regional level. Abbott's business continuity plan will enable it to manage through any such events today and in the future.
General and regulatory risks management
While not limited to climate change, Abbott's business continuity plan and business functions enable Abbott to implement measures to manage physical risks and serious events. Other business groups such as Environment, Health and Safety are taking the necessary steps to manage regulatory schemes that are developing around climate change including maintenance of a verified GHG inventory and setting targets for emissions reductions.
Current and/or future financial effects of risks
Financial effects of issues such as increased energy prices, management of developing regulatory schemes and adverse climate related events have been estimated and are not deemed to be material for the company.
Opportunities presented by current or anticipated regulatory requirements on climate change
We do not consider that current or anticipated regulatory requirements offer opportunities because
Regulatory requirements (or the threat of requirements) will likely continue to drive investment in energy efficiency and emissions reduction initiatives already under way.
Opportunities presented by current or anticipated physical changes resulting from climate change
Through community-oriented programs, Abbott and the Abbott Fund strive to serve as an effective philanthropic partner to make a measurable difference in under-served or disaster-impacted communities worldwide. Abbott measures the impact of its major philanthropic initiatives, including patient assistance and product donation programs. In these instances, through site visits, reports from the company's partners on program impact, partner/stakeholder feedback and memorandums of understanding, Abbott tracks key metrics including the number of patients/beneficiaries served, the number of people tested for disease, the number of children assisted, as well as the amount and value of products donated or sold at no profit. Abbott also captures qualitative health and social impacts of its grants.
General opportunities presented by climate change
General opportunities include continued emphasis on energy efficiency and investment in energy and environmental innovations in general, as well as potential to gain access to new markets.
Planned investment in products and services designed to minimise/adapt to effects of climate change
Abbott has made investments in products like more fuel-efficient vehicles for our sales force, forest-friendly paper products, and certain other supply chain initiatives. Certain Abbott products have been re-engineered to reduce climate impacts on end users such as refrigeration and electricity requirements; however, due to the nature of our business product safety and efficacy remain top priorities.
Future financial effects of opportunities presented by climate change
Abbott has considered implications on financials and recognizes that escalating energy and fuel costs as well as possible carbon cap and trade programs will have an impact. While significant cost increases are possible for Abbott and any other business, it may not escalate to be material. To help control these expected cost increases Abbott adopted a “Climate Responsible Energy Policy” in 2007 that includes targets for both energy reduction and use of renewable energy sources.
Greenhouse Gas Emissions
- Greenhouse Gas emissions methodology used: GHG Protocol
- Accounting year: 01/01/2007-31/12/2007
- Total global Scope 1 activity in Metric Tonnes CO2-e emitted: 890016
- Total global Scope 2 activity in metric tonnes CO2-e emitted: 814240
