ACG Partners with EY-Parthenon to drive sustainable practices and achieve net zero goals

ACG Partners with EY-Parthenon to drive sustainable practices and achieve net zero goals

June 12, 2024, Mumbai: ACG, the world’s largest integrated supplier and service provider to the pharmaceutical industry, has announced a strategic partnership with EY-Parthenon, one of the largest professional services networks in the world, aiming to enhance ACG's sustainability initiatives through a comprehensive Net Zero strategy and implementation roadmap aligned with the Science Based Targets initiative (SBTi). Combining ACG’s industry expertise with EY-Parthenon’s sustainability consultancy, the partnership seeks to significantly reduce carbon emissions and promote sustainable practices across ACG’s operations has already initiated its journey by conducting a comprehensive greenhouse gas emissions (GHG) emissions inventory and carbon footprint assessment for their most prominent products. This assessment has provided critical insights into ACG’s emissions profile, identifying priority areas for targeted sustainability efforts.

ACG, in collaboration with EY-Parthenon, is developing a comprehensive Net Zero Roadmap. This roadmap will set specific targets and actions aligned with the Science Based Targets initiative (SBTi), a globally recognized framework for companies to set science-based emissions reduction targets in line with the latest climate science. Given ACG’s significant export of aluminium-based films and foils to the European Union, EY Parthenon has also conducted a comprehensive assessment of the Carbon Border Adjustment Mechanism (CBAM) implications for ACG and preparing it for 100% CBAM compliance.

Shivshankar S.R, CEO of ACG Packaging Materials, said, “Adherence to the Science Based Targets initiative (SBTi) underscores our unwavering commitment to conscientious corporate stewardship. We are pro-actively setting targets and focusing on long-term initiatives that will provide value realization and business transformation towards creating a more sustainable and resilient future. “Our alliance with EY Parthenon marks a pivotal advancement in our sustainability pursuit. Leveraging their esteemed expertise in industrial decarbonization, we are poised to expedite our Net Zero objectives, thereby effectuating a meaningful reduction in our carbon emissions.”

Kapil Bansal, Partner and Leader of Industrial Decarbonization, EY-Parthenon India, added, “EY-Parthenon is proud to announce its collaboration with ACG as they advance towards achieving SBTi aligned Net Zero strategy and roadmap. With our extensive expertise in strategic decarbonization and CBAM impact mitigation, we are committed to guiding ACG in meeting the company’s emission reduction goals, optimizing costs, minimizing risks, and driving meaningful transformation in the sector. As global efforts intensify to meet the goals set by the Paris Climate Accord, partnerships like this enable businesses and industry leaders to set the standard for environmental stewardship and contribute to a more sustainable future.”

For more information about ACG sustainability initiatives, decarbonization roadmap, and SBTi commitment, please visit https://www.acg-world.com/sustainability

About ACG

For over 60 plus years, ACG has been innovating the production solutions for pharmaceutical and nutraceutical companies. As the world’s most integrated provider of oral dosage products and services, we produce capsules, barrier packaging materials, manufacturing machinery, and visual inspection and traceability solutions. All fully compliant with international standards. Today, ACG fosters long-term collaborative partnerships with customers in 138 countries across six continents. Together, we share a common purpose: to solve the world’s greatest health challenges and make it better for everybody we serve.

About EY-Parthenon

With over 6,500 EY Parthenon professionals and 750+ partners across the globe, EY Parthenon is one of the largest strategy consultancies in the world. EY-P help CEOs and business leaders design and deliver transformative strategies across the entire enterprise, to help build long-term value to all stakeholders. With a result-oriented approach, EY-P teams bring experience and scale to each client, helping them to realize their strategies. By connecting teams and technologies from within EY-P and the broader EY ecosystem, EY-P can provide clients with corporate, transaction and turnaround strategies that are actionable and impactful and that help deliver long-term, sustainable value.

Whether it’s digital transformation, sector convergence and dislocation, or financial and operational complexities, EY-P teams bring data analytics, leading technology, and digital capabilities to a CEO’s toughest strategic issues. In doing so, EY Parthenon teams can move quickly from idea to implementation to help clients realize their strategy with speed and certainty; we call this Strategy Realized.

For more information about our organization, please visit https://www.ey.com/en_in/strategy/about-ey-parthenon