The International Federation of Pharmaceutical Wholesalers (IFPW), in collaboration with member companies such as 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.
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, leveraging insights from a diverse range of healthcare organisations, including Farmacos Nacionales, McKesson, Profarma, Walgreens Boots Alliance, and Zuellig Pharma.
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.
“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.”
For more information on the IFPW Framework for ESG and to access the tool kit, visit https://ifpw.com/esg/.