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Home Sustainability ESG

IFPW Launches ESG Framework for Pharmaceutical Industry

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

India CSR by India CSR
February 25, 2023
in ESG
Reading Time: 2 mins read
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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, today launched an ESG framework and toolkit to serve as a resource for the industry. Leveraging insights from a wide range of healthcare organizations, 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.

“Prioritizing 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. “Our hope is that this framework will allow healthcare organizations, and the broader healthcare supply chain, to elevate and optimize 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 analyzes 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 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 are able to 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 development of key focus areas for the coming years. As global partners for IQVIA, it has been an honor 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.”

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India CSR is the largest media on CSR and sustainability offering diverse content across multisectoral issues on business responsibility. It covers Sustainable Development, Corporate Social Responsibility (CSR), Sustainability, and related issues in India. Founded in 2009, the organisation aspires to become a globally admired media that offers valuable information to its readers through responsible reporting.

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