Sanofi

Carbon per million dollars of revenue. The legacy industry-standard reference (CDP, MSCI). Useful for cross-sector context, but distorted by margin — high-margin firms appear artificially efficient. Read alongside the operational and asset intensities for the full picture.

OpEx (operating expenditure) is the running cost of the business — staff, services, energy, materials. This shows how carbon-intensive operations are per million dollars of spend. Removes the margin distortion that revenue-based ratios introduce.

EVIC (Enterprise Value Including Cash) is the firm's total capital footprint — equity + debt + cash + minority interest. The EU's standard intensity measure (SFDR PAI 3) — answers: how much carbon does each million of capital deployed in this business produce?

PP&E (Property, Plant & Equipment) plus leased real-estate assets is the firm's physical infrastructure on the balance sheet. This shows the carbon intensity of that physical footprint — uses Scope 1+2+3 for consistency with the other headline intensities. Surfaces stranded-asset risk for asset-heavy firms.

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Sanofi joined RE100 in September 2020, committing to 100% renewable electricity by 2030 (interim 80% by 2025). Reached 85% in 2024 from 16% in 2019. Strategy includes: 11 PPAs signed in 2024 for up to 20 years (238.5 GWh/year, 50% of French electricity needs); on-site solar generating 18.8 GWh by end of 2024 (vs 0.5 GWh in 2021) at sites in France, India, Italy, China, Spain, Brazil; biomethane contract in France 2024-2030 for 210 GWh/year; guaranteed certified origin contracts and EACs in countries like Turkey (I-RECs) and Japan (J-Credit).

Sanofi commits to reduce emissions following SBTi-validated science-based trajectory and to permanently remove residual emissions from 2045 onwards. Developing voluntary carbon offsetting strategy to start compensating residual emissions from 2030 on top of science-based reduction trajectory. Community-focused program seeks balance between projects sequestering/avoiding emissions and delivering co-benefits for communities and environment. Details on removal vs offset distinction, vintages and certification not yet disclosed.

• Business travel reduction and eco-driving

  Global travel policy with automated booking tool criteria based on travel duration; promotion of virtual meetings; high-definition videoconferencing at multiple sites. Sales rep travel policy includes eco-driving training. Commuting: electric buses from Campus Sanofi Val de Bièvre to subway; bike rooms; reserved EV spots. Work-from-home policy significantly reduced commuting emissions (Cat 7 down 34% vs 2019).

• Energy efficiency and decarbonisation of energy at operations

  Scope 1&2 strategy combines reduced consumption (energy efficiency program, ISO 50001 certified, 15% reduction target by 2025 vs 2021, focus on air treatment systems which can be up to 70% of building energy) with decarbonized energy supply (RE100, biomethane). Delivered 65 ktCO2e reduction from efficiency and 225 ktCO2e from energy decarbonization 2019-2024.

• Sustainable vehicle fleet - 80% eco-fleet by 2030

  Global car fleet policy revised in 2023 to cover EV charging point installation at employee homes. 50% of fleet currently meets eco-fleet criteria (hybrid, electric, biofuel). Sales force CO2e emissions cut 50% vs 2019. Target 80% eco-fleet by 2030.

• Refrigerant control - HFC/HCFC substitution

  Policies in place to manage carbon-intensive refrigerants (HFC, HCFC) through substitution with lower GWP alternatives, leak prevention, systematic analysis of accidental discharges. Since 2019, reduced refrigerant discharge impact by 41%, avoiding 9,300 tCO2e.

• Supplier engagement - decarbonisation of purchased goods (67% of emissions)

  Purchased goods and services + capital goods represent 67% of Sanofi total emissions. Supplier Engagement Program requires suppliers to: calculate Scope 1+2+3 and report publicly; achieve CDP Climate score A or B; engage own supply chain; set SBTi targets; commit to 100% renewable electricity by 2030. In 2024, 205 suppliers engaged covering 75% of supplier-related emissions and 50% of procurement spend. Also participates in Energize Program and PSCI. Internal carbon price of €100/tCO2e applied to priority raw material tenders (e.g., switched NaOH supply to 100% renewable power version).

• Modal shift from air freight to sea/rail transport

  Reducing air cargo in favor of sea, rail and road shipment. Maximizing sea transport for vaccine shipments (excluding flu) from France to 13 countries including Australia, Japan, Malaysia, South Korea, Brazil. Increasing truck/container fill levels; developing intra-European and France-China rail; experimenting with EV and natural gas vehicles for in-town and pre-carriage; designing packaging to optimize transport.