Novartis: Demonstrating Leadership through Emissions Reductions.
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This chapter analyses the reasons for Novartiss voluntary commitment to significantly reduce its greenhouse gas emissions. It explores firstly the background to the corporate feeling of a moral imperative to reduce emissions. The wide range of internal measures taken to achieve the reduction target are then discussed, along with the challenges of implementing them in a decentralised firm. These internal measures include energy efficiency improvements, raising employees energy awareness and transitioning to a cleaner car fleet. As internal emission reductions are projected to be insufficient to achieve the target in the given time-frame, investments have also been made in external emission reduction projects. The chapter concludes that the implementation of the voluntary target may have increased shareholder value by lowering employee turnover, improving reputation, lowering exposure to future costs of carbon and lowering the cost of capital. Improvements in data capture systems are required to accurately quantify these effects.