Sustainability is an umbrella term for environmental, social, and governance (ESG) issues. Citizens, governments, regulators, and the media are turning the spotlight on corporations and demanding action. Social inequality, corruption, tax avoidance, and a lack of action on climate change are all issues that companies must now address head-on, in full public view.
Growing internal and public pressures have pushed the pharmaceutical industry to become more sustainable. Recently, there has been noticeable shift, with many companies responding effectively and seeking to improve their impact on the environment and society.
However, the industry has deeply rooted environmental, social, end governance issues that challenge sustainability. This, along with the image of the industry itself, have created poor or even negative public perception about sustainability in pharma. Overcoming these challenges requires collaborative, proactive steps to achieve sustainability goals and turn the reputation of this industry around.
There are no global standards for sustainability, so it can be difficult for CEOs to know where to start. In this report, we set out a comprehensive sustainability framework - based on environmental, social and governance issues - to help CEOs identify all potential sustainability risks and implement mitigating actions that can improve their companys ESG performance.
This case study includes -
- GlobalData's Sustainability Framework: this is designed to act as a checklist to help CEOs ensure they cover all aspects of sustainability.
- Sustainability Measurement and Response: an overview of ESG advisors and ESG rating companies.
- ESG Ratings of Pharmaceutical Companies: a look at how some of the leading pharmaceutical companies are rated on ESG performance by four leading ESG rating agencies.
- Case Studies: here we provide examples of pharmaceutical companies making concerted efforts to improve environmental and social sustainability practices, including GSK, AZ, Takeda, Pfizer, Bayer, and Catalent. It also has case studies of pharma behaving badly, with many examples of drug price gouging and fixing, the role of Purdue Pharma and J&J in the opioid crisis in the US, Novartis' sham educational speakers, and Samsung BioLogics' accounting fraud.
Reasons to Buy
- Identify and understand sustainability standards, metrics, and mitigation strategies.
- Understand the impact of sustainability on the pharmaceutical industry.
- Identify opportunities as well as actions to mitigate any risks.
- Track some of the leading pharmaceutical companies rated on ESG performance.
- See environmental, social, and governance cases studies from across the pharmaceutical industry.
Table of Contents
Sustainability is an important theme for 2020 and beyond.
Yesterdays business leaders focused on beating quarterly profit targets.
Tomorrows successful business leaders will focus on sustainable profits.
GlobalDatas Sustainability Framework
Putting it All Together
Sustainability Measurement and Response
ESG Rating Agencies
ESG Ratings of Pharmaceutical Companies
Case Studies: Sustainability in Pharma
Environmental Case Studies
Social Case Studies
Governance Case Studies
About the Authors
Our Thematic Research Methodology
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Published By: GlobalData
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