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 with commitment to 100% renewable electricity by 2030 (80% by 2025). Strategy combines: (i) on-site solar PV self-generation (18.8 GWh in 2024, up from 0.5 GWh end-2021); (ii) Power Purchase Agreements - 11 PPAs signed in 2024 in France for 238.5 GWh/year covering 50% of French electricity needs, plus PPA in Mexico; (iii) Energy Attribute Certificates including Guarantees of Origin, I-RECs, J-Credit in Japan; (iv) long-term biomethane contract in France (2024-2030) for 210 GWh/year. Renewable electricity reached 85% of consumption in 2024 vs 16% in 2019.

Sanofi is developing a voluntary carbon offsetting strategy to start compensating residual emissions from 2030. The community-focused carbon offsetting program seeks balance between projects sequestrating or avoiding high volumes of carbon emissions while delivering co-benefits for communities and environment. Net zero target by 2045 includes neutralization of residual emissions through carbon removal actions, compatible with 1.5°C pathway. Detailed methodologies and frameworks not yet finalized.

• Energy efficiency and decarbonization of Scope 1&2

  Scope 1&2 emissions cut 47% from 2019 to 2024 (708 to 374 ktCO2e). Approach combines energy efficiency (ISO 50001 certified, 15% energy consumption reduction target by 2025 vs 2021) and energy decarbonization (renewable electricity, biomethane). Refrigerant emissions reduced 41% since 2019 (-9,300 tCO2e). Eco-car fleet: 50% of fleet meets criteria, CO2e from sales force cut 50% vs 2019, target 80% eco-fleet by 2030.

• Eco-design and product reformulation

  Commitment to eco-design all new products by 2025. By 2027, no plastic in vaccine syringe blister packs (PVC-free packaging). 27 LCAs completed using PEF EF 3.0 methodology. Eco-design substances-of-concern list integrated into LCA tool. Solvent Guide promotes less hazardous solvents; 58% of solvents regenerated and reintroduced in industrial process in 2024.

• Waste reduction: 3R program and zero landfill

  Three-pillar waste management: (i) Landfill-Free program <1% waste to landfill by 2025; (ii) 3R (Reuse-Recycle-Recover) >90% by 2025; (iii) Performance & Digitalization program. Waste index target -30% by 2030 vs 2019. Total waste reduced from 174,283t (2019) to 146,950t (2024), -15.7%. Waste sent to landfill cut from 11,977t (2019) to 1,617t (2024).

• Business travel reduction and eco-fleet transition

  Global internal travel policy applies criteria automatically through booking tool based on duration. Encouragement of virtual meetings with high-definition video-conferencing equipment. Car fleet policy reviewed 2023 to cover EV charging installation at home for employees opting for electric vehicles. Eco-driving courses, target 80% eco-fleet by 2030 (currently 50%). Sales force CO2e cut 50% vs 2019.

• Sustainable transport: shift from air to sea freight

  To decrease emissions from international transport network, Sanofi uses less air transport and more sea/road/rail shipment. Maximizing sea transport for vaccine shipments (excluding flu vaccines) from France to 13 countries (Australia, Japan, Malaysia, South Korea, Brazil). Developing rail for intra-European and France-China deliveries, experimenting with electric/natural gas vehicles, designing packaging to reduce volume, grouping shipments to pool transport.

• Supplier engagement for raw material decarbonization

  Purchased goods and services + capital goods represent 67% of Sanofi total emissions. Supplier Engagement Program: 205 suppliers engaged in 2024 covering 75% of supplier-related emissions and 50% of procurement spend. Suppliers commit to: calculate Scope 1+2+3 publicly, CDP Climate score A or B, set SBTi targets, 100% renewable electricity by 2030. Participation in Energize Program and PSCI decarbonization maturity model. Moved sourcing of carbon-intensive raw materials to less carbon-intensive suppliers in Europe (Spain, France).