Employee ESG Goals Part of Pharmanovia’s Sustainability Initiatives

Pharmanovia ESG

(Credit: Pharmanovia)

by | Apr 11, 2022

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Pharmanovia ESG

(Credit: Pharmanovia)

All employees of Pharmanovia will have ESG targets as part of their annual performance reviews as the pharmaceutical company strives to increase its sustainability.

As part of that initiative, Pharmanovia will also form an ESG committee to set action plans annually and an ESG Ambassadors program, which will include employee representatives from different parts of the company. They will then help communicate the targets from the committee and drive ESG programs throughout the organization, the company says.

Pharmanovia is also starting a business partner policy, which will incorporate supply chain audits. The company revealed the new programs through its 2021 sustainability report.

The company, which has offices throughout Europe and Asia, says all its employees have been assigned longstanding ESG performance goals and are encouraged to take a sustainable look at their roles. The ambassadors program, Pharmanovia says, will also source ESG initiatives from all parts of the business.

The World Economic Forum says employees can be the strongest advocates and enablers of ESG strategies for companies. Chipotle is a business that has taken steps in this area, tying executive compensation to ESG results.

In addition to the employee initiatives, Pharmanovia has been increasing its overall sustainability goals and has committed to work toward science-based targets on carbon reduction, according to the sustainability report. Pharmanovia says it used a consultant to map its carbon footprint last year and conducted a carbon audit to help it make goals for future emissions reductions.

Almost all of the company’s emissions are Scope 3 and come from transporting its products. Emissions from air freight contributed the vast majority of Pharmanovia’s Scope 3 emissions, the company says — more than 10,000 metric tons worth. As a result, it made the decision to try and move as much of its transport to sea freight, which produced the least emissions of any of the company’s transport systems.

The company says it increased the use of sea freight by 443% in 2021 and will continue to evaluate other shipment methods to reduce its volume of air freight.

Pharmanovia is also looking at ways to increase its use of recycled packaging. It says medical packaging is highly regulated, so it is looking at secondary packaging to make improvements and has used recycled materials in all or part of nearly a third of its materials. The company says it plans to set targets for using recycled materials in 2023 and 2024.

Tracking how supply chains operate and manage sustainability is increasingly important to a company’s overall operations, and Pharmanovia’s program will audit suppliers based on risk assessments. It will focus on the ESG efforts of all the company’s strategic business partners in regard to both environmental impact of Pharmanovia’s supply chains as well as their overall ethical principles.

“We have managed to collect exhaustive data spanning across the business and built a strong ESG foundation, which we hope to bolster with diverse initiatives in the future,” Pharmanovia CEO James Burt says.

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