Novo Nordisk's Emissions Challenge Amid Wegovy Growth

Novo Nordisk's emissions increased by 23% in 2024 due to ramped-up production of its obesity drug, Wegovy. Despite this, the company remains committed to achieving net zero emissions by 2045. Challenges persist as experts question the feasibility of the company's interim targets.

Novo Nordisk reported a 23% increase in emissions in 2024, attributing the rise to the expanded production of its popular obesity medication, Wegovy. The Danish pharmaceutical giant is investing heavily in meeting soaring demand while aiming for net zero emissions by 2045, despite current emission surges.

In its annual financial report, Novo Nordisk reiterated its commitment to cutting Scope 3 emissions—responsible for 96% of its total emissions—by 33% from a 2024 baseline by 2033. However, industry experts have expressed skepticism about the feasibility of these targets, given the continued ties between growth and rising emissions.

Corporate VP Katrine DiBona emphasized the importance of transparency, stating emissions will continue to rise until 2030. Critics, including Sasja Beslik, argue that the lack of integration of sustainability in stock valuation shields companies from reputational damage despite unmet climate targets.

(With inputs from agencies.)