Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]In 2021 Teva committed to set Paris aligned climate Science Based Targets (SBT) through the SBT initiative (SBTi). As of July 2021 Teva has sent its targets for Validation by the SBTi and is awaiting the commencement of the validation process.
By making this commitment Teva has joined more than 3,000 business and financial institution to reduce GHG emissions in line with climate science and demonstrating a leadership position to all stakeholders including government and policy makers that the business community is ready and willing to take action on climate change.
Teva has a dedicated ESG governance structure and ESG team which developed an ESG strategy in 2020 which includes Climate Action and Resiliency as a material topic. The strategy includes Teva's targets and commitments on Climate Change.
Teva abides by its Position on Government Affairs.
Teva engages with a number of trade associations internationally, for example:
1) In Israel Teva is a member of the Manufacturers' Association of Israel (MAI). In November 2021 Teva was part of the MAI delegation that officially represented Israel at the UNFCCC COP 26 Climate Conference in Glasgow, UK. At the conference, Teva also participated in side-line events arranged by the UK Chamber of Commerce presenting on Teva's newly established 1.5C climate commitments.
2) In Europe this includes the 'European Federation of Pharmaceutical Industries and Associations (EFPIA)' who in June 2020 published a White paper on Climate Change expressing that "The pharmaceutical industry is committed to making a positive impact on the lives of patients while operating sustainably and therefore strives to contribute to a healthy environment and demonstrate leadership in doing what's necessary to mitigate climate change. This commitment is aligned with the ambition the European Commission recently expressed through their European Green Deal and the European Climate policies.†