Facing Up To The Climate Change Challenge

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01The Blueprint forChange Programmeapril 2010Facing up to theclimate changechallengeIn 2009, novo nordisk achieved the CO2reduction target of our 1st generationclimate strategy five years ahead ofschedule. With this Blueprint for Changecase we share our learnings focusingon the value generated to business andsociety, our thoughts about the journeyand challenges ahead, including theinterrelationship between climate andhealth.VIBEKE BURCHARD ANDJENS FREDERIK STUDSTRUPClimate strategy project managers,Novo Nordisk

2the climate change challengeContentsThe Blueprint for Change ProgrammecontentsThe challenge-R esponsibility and risk the first generation climate strategy- 10 % in 10 years333How did we activate this?- Reducing the hard way- clean cuts costs and CO2- Pushing energy savings- Energy savings pay off- Target achieved ahead of schedule- Engaged people drive performance- On the search for renewables- Driving the market444555567Shared value created- Significant societal benefit- Building pride and reputation- Making our voice heard- Value creation 2004-200988889The challenges ahead- An integrated approach- Expanding scope- Exploring the climate andhealth touchpoints12121213As a global healthcare company reliant on energy intensiveproduction, taking early and voluntary steps to reduce ourcarbon footprint is long-term risk mitigation as well as anact of corporate responsibility. Combining the two is soundbusiness.Looking back at our first generation climate strategy, wehave come a long way and generated considerable valueto business and society. Looking ahead, we realise thatwe are far from done and that business has a pivotal roleto play in helping drive society’s transformation towards alow-carbon economy.

the climate change challengeThe challengeThe Blueprint for Change Programme3the challengeResponsibility and risk the first generation climate strategyOur 1st generation climate strategy, framed during2004 and 2005, was driven by our commiment tosustainable development managed through theTriple Bottom Line (TBL) principle. The strategyevolves around responsibility and risk mitigation.From an environmental perspective, reducingemissions and inspiring others to do the same isconsidered ’the right thing to do’ and part and parcelof corporate responsibility. While environmentalresponsibility has been the key driver of the 1stgeneration strategy, long-term risk mitigation –preparing the business for a carbon-constrainedfuture – is as important. While Novo Nordisk isamong the less carbon-intensive companies in thepharma industry, the insulin production, core to ourbusiness, is an energy intensive process. While notfaced with a short term risk of significant increasesin energy costs, the climate strategy rests on a beliefthat taking early and voluntary steps to reduceenergy consumption and green our energy supply,will pay off in the longer term by preparing thebusiness for a carbon constrained future.Below, we zoom in on our climate strategy andactions during 2004-2009 and explore the valuegenerated to business and society. In this period wefocused on decoupling business growth from growthin CO2 emissions at our global production sites,and on advocating an ambitious global deal in thelead-up to the UN Climate Summit at Copenhagen(COP-15). Recognising the complexity andcross-cutting nature of climate change, partnershipshave been at the core of our strategic approach.10% reduction in 10 yearsIn 2003, climate change became a focus area inNovo Nordisk’s environmental strategy and in2004, we initiated negotiations with the WWFClimate Savers Programme to frame a climatestrategy. In January 2006, Novo Nordisk becamethe 10th member of the WWF Climate SaversProgramme. The Climate Savers Programme1serves to demonstrate that companies can makedeep cuts in emissions while growing theirbusiness.With the agreement between WWF and NovoNordisk, we made a public commitment to reduceCO2 emissions from global production by anabsolute 10% from 2004 to 2014. In light ofthe projected significant growth in productioncapacity, the absolute reduction target representeda relative reduction of approximately 65% andrequired a decoupling of business growth andgrowth in CO2 emissions.The reduction target covers the energy intensiveinsulin production site in Kalundborg, Denmark,filling plants in France, Brazil and the US, deviceproduction in Denmark and China, and apackaging facility in Japan.Climate strategy for CO2 emissions1,000 tons CO23502802102004200620082010Without cLEAN programme2014 target: 190,000 tonsWithout climate strategy2004 CO2 emissions: 210,000 tons 1) www.panda.org/climatesavers20122014

4the climate change challengeHow did we activate this?The Blueprint for Change ProgrammeHow did we activate this?Reducing the hard wayOff-sets Clean Development Mechanism (CDM)projects and the purchase of renewable energy from existing capacity were not an optionin the agreement with WWF. In other words,the 10% reduction was to be achieved the’hard way’ through increasing energy efficiency in countries of operation and switching torenewables. That made mindset and behaviour change a key driver. On top of this, theagreement with WWF specifies a commitmentto inspire others and share experience.Working with WWF made us set the bar higher than we would have done ourselves. Whileobviously there was a sense that ’it could bedone’, there was no clear plan of action at thetime of public announcement.We started by agreeing withWWF on a meaningful targetbased on its potential to impactthe concentration of greenhousegases in the atmosphere. Then,we decided to make it happen;even if, at the time, we wereunsure of how to achieve thisambitious goal.Jan Hoff, former Vice President,Global Support, Novo NordiskThree levers were put into play inachieving the reduction: cLEAN Energy savings Renewable energycLEAN cuts costs and CO2cLEAN is the Novo Nordisk version of theLEAN philosophy aimed at minimising wasteand optimising production flow. The ‘c’ standsfor ‘current’ stressing that cLEAN is continuously improved and adapted to different areasin Novo Nordisk. The cLEAN programme wasdesigned in 2003 to increase productivity andmaintain a competitive edge. The programme,however, also makes a significant contributionto increased energy efficiency by lowering theamount of energy consumed per unit produced and optimising use of production capacity. To illustrate, by optimising productionin one of two purification plants for humaninsulin, we have managed to close down thesecond plant permanently. The close down hasresulted in an annual CO2 reduction of 5,000tons CO2. Similarly, optimisation of the purification plants for insulin analogues in Kalundborg has enabled Novo Nordisk to discontinueplans to build a fifth plant. The annual CO2reduction is estimated at 8,000 tons, not tomention the financial savings.When the climate strategy was framed, wemade scenarios of future emissions. In theworst case scenario - ‘without cLEAN - without the climate strategy’- it was anticipatedthat emissions would grow 300% from 2004 to2014 (see model p 3). cLEAN alone accountsfor two thirds of the reduction between thatworst case scenario and the 10% target scenario. However, as the cLEAN programme was already in place when we negotiated the climatestrategy with WWF, the reductions achievedthrough cLEAN are included in the business asusual scenario and do not count in our annualcommunication of progress to WWF.

the climate change challengeThe Blueprint for Change ProgrammePushing energy savingsThe Climate Savers agreement sets a specifictarget for energy savings: 30,000 tons CO2reduction from energy savings. To achieve this,Novo Nordisk launched a global energy savingprogramme in 2005 which has now becomean integral part of our environmental management system specifying that all sites mustappoint an energy steward and conduct energyscreenings every three years.From 2005–2007, the first energy screenings wereconducted at all production sites resulting in along list of feasible energy saving projects. Utilitysystems such as cooling and ventilation accountfor the biggest reduction potential ranging from’just-do-it’ savings, such as turning off ventilationduring holidays and weekends, to investment innew, more energy-efficient cooling towers.To drive performance, energy savings have beenintegrated in all business plans. Each productionarea has individual CO2 reduction targets andprogress is monitored on a monthly basis. Annual results are communicated across productionareas to spur internal competition. In addition,production management has made it mandatoryto implement all identified energy saving projects with pay-back periods of less than five yearswhich is two years more than normally accepted.Delivering on energy savings is also integrated inthe long-term incentive programme that is partof the remuneration policy for Novo NordiskExecutive Management.Energy savings pay offThe energy saving projects implemented from2005-2009, have resulted in a 28,000 tonsreduction of CO2 equivalent to approximately4,500 fewer cars on the road every year, anddemonstrated a solid business case.The energy saving programme is the largestsingle investment under the Climate Actionprogramme. From 2004-2009, we have invested20 million USD in energy savings coveringproject spend and staff. More than 200 energyHow did we activate this?saving projects have been implemented acrossglobal production sites resulting in a 10 % cutin energy consumption corresponding to a realised cost saving of 24 million USD. While partsof the saving is earmarked to financing the premium on renewable electricity in Denmark, theinvestments in the energy saving programmewill continue to yield annual cost savings of approximately 8 million USD in coming years. Halfof all projects are paid back in less than oneyear and the average pay-back is 1.9 years.While a major part of the lowest-hangingfruits have been harvested, the energy savingpotential is far from exhausted. The energysaving potential and short pay-back periodshave taken us by surprise and serve to provethat a stretch target and systematic effort candeliver significant reductions with no or verylimited up-front investment.Target achieved ahead of scheduleIn early 2010, we were proud to announcethat over a period of more than 30 consequtive quarters of double-digit growth,the 10% reduction in carbon emissions wasachieved five years ahead of schedule. TheCO2 emissions curve broke away from salesfrom 2007 to 2008, and from 2008 to 2009the downward trend continued with a 32% reduction. This is approximately 30% below the2004 baseline. The major part of this reductionis attributed to cLEAN and the energy savingsprogramme. The full savings from sourcing ofwind power will first start counting from 2010.Engaged people drive performanceEmployee engagement is an added value anda key driver of success of the energy savingprogramme.In Novo Nordisk’s environmental department,one full time project manager is responsible for driving performance on the climatestrategy in close collaboration with a globalnetwork of 28 energy stewards representingNovo Nordisk production sites.5

the climate change challengeHow did we activate this?6The Blueprint for Change ProgrammeThis combination of central project management and local energy stewards has been instrumental in keeping focus and momentum onenergy savings. Commitment and team-spiritis built through training and annual seminarsaimed at facilitating networking and sharing ofbest practice across the organisation.world leader in the construction and operation of offshore wind turbines. Novo Nordiskentered negotiations searching for a costeffective model that would significantly reduceCO2 emissions and contribute to expandingthe capacity of renewable energy in the Danishmarket as specified in the WWF agreement.Novo Nordisk’s request spurred innovation asDONG Energy had no ready-made solution athand. Even though we had a strong businesscase for action and a strong shared vision,structuring a business model that would backup Dong Energy’s heavy capital investments onrenewables was a challenge:The achievement of the 10% reduction targetahead of schedule is the result of the hardwork and diligence of energy stewards placedthroughout the organisation. In addition toimplementing efficiency projects, the 30 energy stewards serve as challengers at the production facilities, looking for ways to improve.After one year of negotiations exploring various wind power projects, in May 2007 NovoNordisk signed a partnership which makesa unique link between energy savings andgreening of energy supply. Under the partnership, which was the first of its kind, DONGEnergy helps Novo Nordisk identify energysaving projects and Novo Nordisk pledges toconvert realised energy savings at Danish production sites into the purchase of electricityfrom a new wind farm in the North Sea.On the search for renewablesProducing the diabetes active pharmaceuticalingredient in Novo Nordisk’s insulin productsis a highly energy-intensive process whichtakes place in Kalundborg, Denmark based onenergy from a local coal-fired power plant. Intotal, Danish production facilities accountedfor more than 85% of total emissions andelectricity alone accounted for 62% of theseemissions. Fuel switching in Denmark therefore gained first priority.The partnership runs till 2020 with the goalthat by 2014 Novo Nordisk’s facilities in Denmark will be powered entirely by wind energy.We quickly realised that a partner specialisedin energy was needed and we teamed up withour Danish energy supplier, DONG Energy – aClimate strategy impactDKK billion1,000 tons CO27030060240501804012030602005Sales (left)2006CO2 emissions (right)200720082009

the climate change challengeHow did we activate this?The Blueprint for Change ProgrammeDriving the marketAt the start of Novo Nordisk’s partnershipwith DONG Energy, Horn Rev II, the world’slargest off-shore windfarm till date, was stillon the drawing board. With DONG Energy’scutting-edge technological expertise on windpower generation, their ambition was totriple its renewable energy capacity by 2020.However, to ensure financial leverage forlong-term investments in renewable energy,Dong Energy needed a sustained commercialbase. The long-term financial commitmentfrom Novo Nordisk was the tipping point thatmade the project financially feasible. NovoNordisk is among the ten biggest consumersof energy in the Danish manufacturing industry and expects to purchase around one thirdof the energy produced once the wind farmis in full operation in 2010. The wind farmwas established during 2008 and 2009 andinaugurated in September 2009 two monthsin advance of the COP-15 in Copenhagen.With this agreement, Novo Nordisk andDONG Energy have devised a cost-neutralway to achieve significant reductions in CO2emissions and at the same time help buildthe market for renewable energy in Denmarkand help the Danish government achieveits renewable energy target. At the end of2009, DONG Energy had established some 30partnerships building on the Novo Nordiskmodel and the new wind farm Horns Rev IIwas sold out. In May 2009, Allan Schefte, vicepresident of Business to Business activitiesat Dong Energy, announced to the Danishbusiness daily “Berlingske Tidende” that hewas expecting up to 100 new partnerships inNorthern Europe within the next five years.Partnerships always involve complex negotiations on how to reasonably split costs and benefits.Our partnership was no exception. Moreover, it was a longlasting partnership, as we werecommitting each other all the wayto 2020.Jan Hoff, former Vice President,Global Support, Novo NordiskOur partnership with DONG Energyleading to an innovative solutionNovo Nordisk savesThe financial savingsThe premium paid100% of our electricityenergy at Danish pro-are earmarked tohelps fund establish-consumption in Denmarkduction facilities.sourcing of renewablement of new windfarmis covered by the newelectricity.in the North Sea.windfarm.7

8the climate change challengeShared value createdThe Blueprint for Change Programmeshared value createdSignificant societal benefitAll energy saving projects at Danish production sites count in the partnership with DONGEnergy. By 2009, a total saving of more than45 million kWh had been achieved under thispartnership. The savings will result in a 100%renewable electricity supply and an annual CO2reduction of 100,000 tons once the new windfarm is in full operation in 2010.The 91 turbines of the new wind farm, whichhave a total production capacity of 209 megawatt, will be able to supply power equivalent tothe annual electricity consumption of 200,000households2 resulting in a considerable benefitto society of avoided carbon.Building pride and reputationA focused communication effort has supportedand leveraged the climate strategy aimed at:Internally:- Ensuring management buy-in and drivingengagement among key staff- Raising awareness and building pride andengagement among all employeesExternally:- Inspiring others (business-to-business)- Building reputation- Influencing public agendaIn 2006, the climate strategy was kicked offinternally when more than 1,800 employeesand their families attended two showings of AlGore’s film on climate change, “An InconvenientTruth,” arranged by Novo Nordisk. This was accompanied by an exhibit on Climate Savers anda variety of educational activities for children.In 2008, we launched an internal climate actioncampaign under our corporate volunteeringprogramme TakeAction! Under the heading ‘Ittakes people to fight climate change’, the campaign inspires climate friendly actions and givesideas for local actions such as car pooling orbiking, tree planting or fund raising for climateprojects. In 2009, Novo Nordisk’s employeesaround the globe joined the WWF Earth Hour2009, to show commitment to the climate cause.Internal media have covered the climate strategyon an ongoing basis since 2006 resulting in atotal of more than 50 articles and 4 mentionson our internal TV channel PeopleTV. Externalcommunication has consisted of more than2) www.dongenergy.com/Hornsrev23) www.cdproject.net100 presentations to professional audiences,contributions to more than 15 books, guidesand case-studies on corporate climate action andsubstantial positive coverage in national andinternational media, including CNBC and CCTV.In total we have invested approximately 1,2 millionUSD in climate communication from 2005-2009.While the value in terms of employee engagement, reputation and trust cannot be quantified,we estimate that the sum invested in communication is at least paid back. Furthermore, theclimate strategy creates value through meetingsociety’s and key stakeholders’ expectations, including the 40% of our top 20 shareholders thatare signatories to the Carbon Disclosure Project3.Novo Nordisk’s approach toclimate change is innovative,groundbreaking and ambitiousactions that are more than justwords and have inspired others.John Kornerup Bang,former advisor, WWF DKMaking our voice heardIn parallel with cutting emissions at productionsites, we have engaged in the public debate callingfor an ambitious global deal on climate change.As a global business, we call for a long-term,stable and global framework to guide our futureoperations. Our engagement in the CopenhagenClimate Council has been the main platform toachieve this end. The Copenhagen Climate Councilis an independent global initiative gatheringbusiness leaders from Europe, the Americas, Asiaand Oceania and leading politicians, authoritiesand scientists. The Copenhagen Climate Councilhas worked to promote a broad global dialogueand build momentum for achieving an ambitious,global and binding treaty at the UN Climate Summit in Copenhagen in December, 2009.In 2009, the main activities of the council were theWorld Business Summit on Climate Change in Mayand a business event at the Kronborg castle duringthe COP-15. Held in May 2009, the outcome of theWorld Business Summit was a list of six items thatthe business community believes to be necessary

the climate change challengeThe Blueprint for Change ProgrammeShared value createdingredients of a new, effective climate agreement.The ’Copenhagen Call’ was presented to DanishPrime Minister Lars Løkke Rasmussen and Head ofUNFCCC negotiations Yvo de Boer and a summaryreport was distributed to policy makers worldwide.The key message was that with a clear target, accompanied by policies and business incentives tostimulate investments, business will and can deliverthe solutions needed. The transformation to a lowcarbon economy it not only possible, it also offersa promise of economic growth.will be ’increasingly costly’, COP-15 has createdgreat uncertainty around the actual, future costof carbon, globally and regionally, and the direction of future investment and capital flows.The World Business Summit in May was supported by the Danish government and organisedin collaboration with the United Nations GlobalCompact, the World Business Council for Sustainable Development, The Climate Group, 3C, andthe World Economic Forum’s Climate ChangeInitiative. The summit managed to attract 700participants from business, science and civil society and a long list of significant key note speakersincluding Ban Ki-moon, Yvo de Boer and Al Gore.Value to business Novo Nordisk has invested approximately 21million USD in climate action of this 20 million USD in the energy saving programme Since 2004, the energy savings have realiseda total of 24 million USD in cost savingscorresponding to a 10% reduction in globalenergy consumption Half of all energy saving projects are paidback in less than one year Average pay-back is 1.9 years The energy savings conducted from 2004-2009will continue to yield annual cost savings ofapproximately 8 million USD in the future Carbon-neutral electricity supply in Denmarkaccounting for approximately 60% of globalcarbon emissions from production Intangible value of future risk mitigation,employee engagement, trust and reputationNovo Nordisk played a leading role in organisingthe event by providing seed funding to exploreits feasibility:- When we started this journey it almostseemed like a mission impossibe. Today, I’mimmensely proud that we managed to gathermore than 700 business and thought leadersin a joint call for action on climate change,said Lise Kingo, Executive Vice President andChief of Staff, on the closing of the event.Recognising the need for a unified call for actionfrom global business across sectors and regionsNovo Nordisk has signed up to the United Nations-supported statement, ‘Caring for Climate:The Business Leadership Platform’4. Novo Nordisk is also a signatory to the Bali Communiqué,the Poznan Communiqué and the CopenhagenCommuniqué of the Prince of Wales CorporateLeaders Group on Climate Change5.Value creation 2004-2009Largely driven by corporate responsibility, our1st generation climate strategy did not rest on aconclusive business case when it was framed. Inaddition, the key business case assumption - thatearly and voluntary action will make the business better prepared for a carbon-constrainedfuture still remains to be quantified, if it everwill be. While most analysts agree that carbon4) www.unglobalcompact.org/Issues/Environment/Climate Change/5) www.copenhagencommunique.comStill, looking at the first five years of climateaction the business case is positive, in particularwhen it comes to cost savings, employee engagement, stakeholder trust and reputationalvalue – and, not least, the societal impact ofavoided carbon emissions.Value to society 28,000 tons CO2 reduction achieved by theend of 2009 through the energy savings programme equivalent to around 4,500 fewercars on the road every year At the end of 2009, an additional 50,000 tonsCO2 reduction had been achieved throughsourcing of wind power equivalent to takinga further 8,000 cars off the road every year With the DONG Energy partnership NovoNordisk pushed the building of the world’slargest off-shore wind farm Horns Rev II whichwill supply power equivalent to the annualelectricity consumption of 200,000 households New business model developed driving themarket for renewable energy. Some 30 newpartnerships have been inspired by the NovoNordisk modelThe value creation is summarised in the modeldeveloped by Accenture and Novo Nordisk:9

the climate change challengeShared value created10The Blueprint for Change Programmesix key measures are in scope for demonstratingvalue to Novo Nordisk and societyvaluecreationMINIMISING DOWNSIDEintangiblevaluerevenueVALUE MEASUREScostVALUE DRIVERSriskMAXIMISING UPSIDEcost savingfrom energyefficiencyavoidedsocial cost cope 1 emissionreductions fromplants withinthe EU ETS havemitigatedthe potentialfuture risk ofan increasinglycostly carbonmarketannual costsavings have beenattained throughenergy savings,someof which are usedto mitigate thefuture risks tosociety andNovo Nordisksome costsavings fromenergy savingsare reinvested(via DONG premium) into greenenergy, resulting ina considerablesocial benefitof avoided carbonintangiblemonetary value,but qualitativeevidence (NGOpartnership,engagement withkeystakeholders)to supportpositive impactson reputationand brandintangiblemonetry value,but qualitativeevidence suggeststhat the ClimateAction Programme hasplaced NovoNordisk in astrong positionwith environmentally responsiblepayers/patientsCAP Climate Action Programme.GVA Gross Value Added.ESP Energy Savings Programme.OUTCOMEScompliancecost

the climate change challengeThe Blueprint for Change ProgrammeShared value createdPartnerships drive innovationRecognising the cross-cutting nature and the complexity of climate change, NovoNordisk has taken a partnership approach. The partnership with the WWF ClimateSavers programme made us raise the bar a bit higher than we would otherwisehave done, and search for innovative ways of achieving the 10% reduction target.The partnership with DONG Energy is a result of this.Energy efficiency potential is overlookedWhile development of new technology is crucial, the potential in increasingefficiency of existing technologies and processes is often overlooked. Our experience is that an ambitious reduction target and a systematic energy screeningprocess can increase energy efficiency significantly.cLEAN and carbon management walk hand in handWith cLEAN we lower the energy consumption per unit produced and decreasethe need for building new production facilities. cLEAN alone accounts for twothirds of the reduction between the worst case scenario and the 10% reductionscenario.Engaged people drive performanceEnergy efficiency has two sides: Technology and behaviour. Technology will takeus a very long way, but we also need to encourage a truly energy saving mindset.Investing in people engagement is key to success.11

12the climate change challengeThe challenges aheadThe Blueprint for Change Programmethe challenges aheadAn integrated approachWhen the 4th Assessment Report of the UNIntergovernmental Panel on Climate Change(IPCC) was issued in 2007, world opinionmoved from a state of some scientific uncertainty to wide-spread scientific consensus thatclimate change is happening and is clearlyrelated to human activity. Since then, severalstudies have adjusted and updated the findings of the IPCC. While specific errors in thework of the IPCC have been disclosed, mostof these studies6 conclude that the impact ofclimate change is in fact underestimated bythe IPCC and that climate change is gettingfar worse, far faster than predicted. While theUN Climate Summit in Copenhagen did notdeliver the global regulatory framework thatwe felt needed, it did achieve global consensus on the need to safeguard a 2 C thresholdon global warming.CO2 emissions20072010ProductionCompany carsFaced with the uncertainty around the globalregulatory framework post 2012, businessis increasingly seen as the key to tacklingclimate change.Product distributionBusiness travelExpanding scopeDuring 2010 we are framing our 2nd Generation Climate Strategy. Within our own operations we aim to continue to drive improvements in Scope 1 and 2 emissions and extendto Scope 3. In November 2009, executivemanagement approved extending the scopeof Novo Nordisk’s climate action programmeto include emissions from transportationthroughout global operations. Estimatesindicate that in 2007, emissions from company cars, product distribution and businesstravel corresponded to approximately 50%of emissions from production and hence approximately one third of total emissions. Ofthis quantity, 45% stems from the car fleet,30% from product distribution and 25% frombusiness travel.6) Synthesis Report, Climate Change, Global Risks, Challenges & Decisions, University of Copenhagen, 2009’Detection and Attribution of Climate Change: A Regional Perspective’, UK Met Office, February 2010

the climate change challengeThe challenges aheadThe Blueprint for Change ProgrammeExploring the climate and health touchpointsLooking outside our company gates and beyond our immediate sphere of influence, weare currently looking into the merging of theclimate, development and global health agendas. The interrelations between the globalclimate and health challenges are multipleand complex. Two touchpoints are particularlyrelevant from our perspective:Much of the present high calorie density food production hasa massive carbon footprint andrequires wasteful amounts ofenergy and water.Professor James, Chair of the UNCommission on the Nutritional Challengesof the 21st CenturyWestern lifestyle with urbanisation, highcalorie-diets and physical inactivity is aroot cause of climate change as well aslifestyle disease.The urgent need for this generation to transform the way we produce, consume an

Climate Savers Programme to frame a climate strategy. In January 2006, novo nordisk became the 10th member of the WWF Climate Savers Programme. The Climate Savers Programme1 serves to demonstrate that companies can make deep cuts in emissions while growing their business.

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