GlaxoSmithKline announces new corporate responsibility schemes

GlaxoSmithKline has announced a series of new corporate responsibility initiatives as it looks to improve its ethical standards and environmental performance.

In its annual corporate responsibility report, the company committed to new sustainability targets that will see its operations become carbon neutral by 2050, while also slashing its water consumption and the amount of waste it sends to landfill.

Elsewhere, the company will be continuing to reform its business practices to expand access to its medicines in poorer countries, repeating its pledge to offer its new malaria candidate vaccine to African patients at an affordable rate.

It will also look to provide further donations to charitable initiatives, having increased its contributions by 36 percent in 2010 to a total of 222 million pounds.

Andrew Witty, chief executive officer of GlaxoSmithKline, said: "There is always more that can be done but I am pleased with the progress we are making."

Last week, the company announced that it will be conducting a programme of events to encourage British youngsters to pursue scientific careers in the lead-up to the 2012 Olympic Games.