A 15-pharma collective is amping up its renewable energy efforts, encouraging suppliers to join buying group. (Shutterstock)

Phar­ma re­new­able en­er­gy co-op sparks broad­er sup­pli­er push, fol­lows Wal­mart's lead

A coali­tion of phar­ma com­pa­nies is dou­bling down on ef­forts to en­cour­age sup­pli­ers to adopt re­new­able en­er­gy prac­tices. The “En­er­gize” phar­ma pro­gram, launched last year at the cli­mate change con­fer­ence COP26 with 10 of the world’s largest drug­mak­ers, now in­cludes 15 phar­mas, plus a new co­hort of sup­pli­ers opt­ing in­to a first-ever pow­er pur­chase agree­ment (PPA).

The buy­ers’ group, which in­cludes sev­en sup­pli­ers and two of the phar­mas, is pitch­ing in to­geth­er un­der Schnei­der Elec­tric for scale-buy­ing pow­er in Eu­rope and North Amer­i­ca. PPAs are at­trac­tive for re­new­able en­er­gy providers be­cause the typ­i­cal 10-20 year long-term deals pro­vide cap­i­tal for build­ing new projects, in­clud­ing wind farms and so­lar fields.

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