Based on the Science Direct data, a new study was conducted by McMaster University, which reveals that pharmaceutical industries are ahead of automotive industries in terms of emission. The intensity by which pharmaceutical industries emit is around 55% higher than that of automotive. However, the emission varies at significant levels between the competitive companies generating nearly the same revenue, as per the report.
The report concluded the results on the basis of 2015 data. The report specified that the yearly emission intensity by the automotive sector was 31.4 metric tons of CO2 corresponding per million dollars, in contrast to pharmaceutical industries that have released 48.55 tons in the same year.
Even though, the pharmaceutical market was not as established as the automotive market. Yearly global emissions by automotive industries in 2015 were around 46.4 megatons, while pharma market emissions reached 52 megatons.
In 2015, both Johnson & Johnson’s and Procter & Gamble were generating almost the same revenues, still, the former industry was emitting one-fifth of the latter ones’ emissions. One of the chief multinational pharmaceutical companies, Eli Lilly emitted 5.5 times higher than Roche in the same year.
On a similar subject, The International Energy Agency (IEA) has cautioned that the turn down of nuclear power in highly developed nations would lead to a drastic increase in emissions. It has been expected that if nuclear power production and utilization would decline, it will cause emission of an additional 4 billion tonnes of CO2 by the end of 2040. The warning is recently published in the group’s report “Nuclear Power in a Clean Energy System”.
At present, nuclear energy sector generates 422GW of power at the global level, positioning second among the sources of low-carbon energy producing sectors. However, it appears to be tough for government organizations to decompose radioactive waste constantly released by nuclear powerhouses. Therefore, IEA argues that the nuclear power sector will drive down by around 66% in 2040.
To cope up the energy demand, the renewable energy sector has to expand by almost five times in the coming 20 Years, which will need an investment of around $1.6 Trillion.