IFPW Launches ESG Framework for Pharmaceutical Sector

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by KnowESG
KnowESG_ESG framework
Image courtesy of www.ifpw.com

The International Federation of Pharmaceutical Wholesalers (IFPW), in partnership with member companies, including global healthcare company AmerisourceBergen and IQVIA, a leading provider of advanced analytics and technology solutions, launched an ESG framework and toolkit to serve as a resource for the industry.

Leveraging insights from a wide range of healthcare organisations, which included Farmacos Nacionales, McKesson, Profarma, Walgreens Boots Alliance, and Zuellig Pharma, the IFPW Framework for ESG is intended to create global alignment and consistency across the pharmaceutical sector regarding how to effectively communicate and report on the impact of environmental, social, and corporate governance initiatives to advance the supply chain forward.

"Prioritising ESG strategies is crucial within the healthcare and pharmaceutical industry, and we are excited to provide a resource that is available for use by industry leaders across the globe as they develop their own initiatives," said Mark Parrish, President of IFPW. "We hope that this framework will allow healthcare organisations and the broader healthcare supply chain to elevate and optimise their approaches to ESG over time and to commit even further to creating a healthier, more sustainable, and more equitable industry."

The IFPW framework carefully analyses all aspects of ESG to provide pharmaceutical wholesalers and distributors with best practices and guidance to inform their efforts, including:

  • Addressing carbon emissions, energy use, and climate change

  • Portraying environmental stewardship through waste management, packaging design, and regulatory compliance

  • Protecting access to medicine and advancing global health equity via the security of medical supplies, affordability, and community engagement

  • Human capital management through diversity, equity and inclusion initiatives, talent acquisition, and ensuring employee health and safety

  • Ethics compliance and engagement via codes of practice and guidelines, data privacy, stakeholder engagement, and human rights throughout the supply chain

"This collaboration and the resulting framework are a testament to the crucial role and influence of distributors within the pharmaceutical supply chain," said Susan Lorenz-Fisher, Senior Vice President of Global Sustainability & ESG Integration at AmerisourceBergen and chair of IFPW's ESG Advisory Committee. "By leveraging our experience, reach, and relationships across our sector, we can inform best practices to elevate the industry's collective impact on ESG. We are proud to align with both IFPW and IQVIA to enable a more sustainable and equitable global supply chain."

"The last few years have highlighted the critical role that the supply chain plays in delivering healthcare," said Simon Tottman, Vice President Global Strategic Partners, IQVIA. "As the industry looks to advance and strengthen sustainability and citizenship efforts, the ESG framework sets out a clear roadmap for the development of key focus areas for the coming years. As global partners for IQVIA, it has been an honour to work with the IFPW, AmerisourceBergen and the broader industry to provide practical ways that the healthcare supply chain can operate in an even more ESG considerate manner."

For more information on the IFPW Framework for ESG and to access the tool kit, visit https://ifpw.com/esg/

For more social and governance news

Source: IFPW


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