Carbon Reduction Plan

Supplier name: Novavax UK Ltd 
Publication date: 06/02/2024

Commitment to achieving Net Zero

Novavax is committed to achieving Net Zero emissions by 2050 through a long-term target.

Baseline Emissions

Baseline emissions are a record of the greenhouse gases that have been produced in the past and were produced prior to the introduction of any strategies to reduce emissions. Baseline emissions are the reference point against which emissions reduction can be measured.

The baseline for Novavax operations only includes their United Kingdom emissions. Novavax UK Ltd incorporated in February 2023, as such, 2023 is their baseline year.

Current Emissions Reporting

Emissions reduction targets In order progress to achieving Net Zero, Novavax will adopt the following carbon reduction targets

• Novavax commits to reduce absolute scope 1 (direct greenhouse gas emissions generated) and scope 2 (emissions associated with the purchase of electricity and heat) GHG emissions by 90% by 2050 from a 2023 base year.
  • For Scope 1, UK sites will monitor the refrigerant usage of the building occupied. No other fuels are currently used. This will be a decision point when choosing a site.
  • For Scope 2, Novavax will make the transition to renewable electricity schemes with the suppliers, once again making that a priority at the occupied buildings.
• Novavax commits to reduce scope 3 GHG emissions by 90% by 2050 from a 2023 base year. The reductions at scope 3 will be guided by different carbon reduction projects.

Once the emissions reduction targets have been achieved, and emissions are minimised to their lowest feasible extent, Novavax will undertake measures to offset any remaining emissions, thus attaining a state of net zero emissions.

Carbon Reduction Projects

In order to reduce emissions and work towards Net Zero, Novavax are implementing measures such as:

Scope 3

Business Travel:

• Implementation of a dedicated policy to reduce business travel where possible. This will be enabled by increasing online meetings and virtual and digital training and resources.
• Where it is not possible to host a meeting online, travelling by lower emissions modes of transport will be required. This will be by using public transport or low carbon emissions vehicles.
• As the business expands, new employees will be required to choose Electric Vehicles or hybrid / low polluting options as their company cars.

Declaration and Sign Off

This Carbon Reduction Plan has been completed in accordance with PPN 06/21 and associated guidance and reporting standard for Carbon Reduction Plans.

Emissions have been reported and recorded in accordance with the published reporting standard for Carbon Reduction Plans and the GHG Reporting Protocol corporate standard¹ and uses the appropriate Government emission conversion factors for greenhouse gas company reporting².

Scope 1 and Scope 2 emissions have been reported in accordance with SECR requirements, and the required subset of Scope 3 emissions have been reported in accordance with the published reporting standard for Carbon Reduction Plans and the Corporate Value Chain (Scope 3) Standard³.

This Carbon Reduction Plan has been reviewed and signed off by the board of directors (or equivalent management body).

Signed on behalf of the Supplier:

Paul McIntosh, Country Director UK & Ireland Date: 09/02/2024

References:

¹ WRI (2004), The Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard, World Resources Institute, Washington DC, USA.
² UK Government (2023), Government conversion factors for company reporting of greenhouse gas emissions, UK Government, London, UK.
³ WRI (2011), Corporate Value Chain (Scope 3) Accounting and Reporting Standard, World Resources Institute, Washington DC, USA.