In this editor's desk, Rebekah Jordan shares her views on the achievements within pharma sustainability in 2022, its criticality in pharma investment opportunities, and what's still to be done.
Approaching the end of the year – and the final EPM issue of 2022 - is always a good time for reflection. And in terms of pharma, it’s been a year of progression.
Advancements in technology and automation has seen a reduction in labour and energy costs. Whereas, fewer supply chain disruptions have ensured patient access to life-saving treatment without delay or issue.
But as pharma manufacturers are under pressure to adhere to stricter regulatory requirements whilst meeting demand, the hot topic of incorporating greener-based strategies is looking like it’s here to stay.
It’s safe to say that biopharma has seen achievement in sustainability this year.
For one, the 2022 EcoAct Annual Performance Report found biopharma among the top performing sectors for sustainability: GSK rose to the top of the FTSE 100 ranks for climate reporting, with Astra Zeneca finishing close behind in the top 10. Together with Sanofi, all three companies were recorded as the highest performing companies for corporate climate action and reporting.
On top of that, seven CEOs among companies likes of Roche, Merck, Novo Nordisk and GSK are uniting to accelerate the pathway to net zero healthcare. A sector that contributes 50% of its emissions from its supply chains and 45% from patient care. Some of the exciting action plans that have got underway include: leveraging digital solutions to decarbonise clinical trials and reducing supply chain emissions with green heat solutions.
I then saw it showcased for myself at CPhI Frankfurt. Catching up with industry experts solidified the notion that sustainability is now an essential element across pharma companies rather than a USP.
And interestingly, sectors across the pharma supply chain are each doing their part. Packaging providers are dedicating their efforts to minimising virgin plastic, logistics and distribution suppliers are focusing on energy-saving costs on medical product transport, and the formulation scientists are seeking strategies to limit the environmental impact of API waste.
But undoubtedly, there’s still much more to be done.
It’s not enough for pharma companies to say they’re doing their part. They also need to prove it. Sustainability metrics are expected to be contractually mandatory within the next five years and a key criterion for investment opportunities. The responsibility and accountability of our actions has never been more so, and so it should be.
The new year will likely come with its own challenges and demands for pharma manufacturing – positively allowing for innovative solutions - but what should be considered at every corner is the action to do so sustainably. The answer lies in a delicate balance between the two.