Sustainability: A key differentiator as biopharma faces momentum challenges, global survey by Cytiva reports
August 21, 2024
- Companies with a proven commitment to sustainability see benefits in revenue, profit, share price, brand reputation, and talent attraction
- Collaboration with stakeholders and suppliers identified as key requirement to accelerating progress
- Survey respondents acknowledge slow or stalled progress on sustainability initiatives leads to negative outcomes
In the Global Biopharma Sustainability Review, more than 800 pharma and biopharma professionals articulate the benefits of meeting sustainability targets – and the risks of not clearly measuring progress on those targets. Cytiva, a global life sciences leader, sponsored the research which includes insights from executives in 18 countries.
Sustainability is rising to the top of the global agenda as regulations are evolving and investors, customers, and talent demand more transparency from companies on the topic. 62% of respondents identify sustainability as their number one priority over the next five years.
The findings also show that biopharma leaders recognize why they need to decarbonize, and while progress is good in some areas, companies struggle to make and measure progress.
SK bioscience, a global manufacturer of vaccines and biotechnology, contributed their experience in the Sustainability Review. Yeji Park, member of the Environmental, Social and Governance (ESG) team at SK bioscience, says: “We are pursuing a ‘Double Bottom Line’ management framework…based on the belief that the advancement of socially desirable products and solutions will ultimately lead to both sustainability and a positive evolution of our business model.”
Highlights of findings include:
- 63% of respondents see sustainability as imperative to differentiation and business growth.
- Over the past 12 months, more than half of sustainability leaders who participated in the Review say their companies have experienced increases in revenue (55%), profit (57%), share price (56%), brand reputation (58%), and their ability to attract talent (54%).
- However, more than three-quarters (76%) of companies cannot accurately measure sustainability return on investment (ROI).
- Almost two-thirds (64%) believe that poor sustainability performance puts their business at critical risk.
- Collaboration with stakeholders across the value chain is required to move the needle in mitigating climate change.
Emmanuel Abate, President, Genomic Medicine and Head of Sustainability and Corporate Responsibility at Cytiva, says: “We performed this research for several reasons. One, it is our responsibility to meet sustainability targets to protect the planet while supporting our customers as they discover and develop advanced therapies. Two, we want to drive a conversation around innovation and strategy on sustainability.
“These findings highlight where we as an industry must collaborate and push for better progress and prove the benefits of delivering on sustainability targets to employees, customers, and investors – both current and future.”
Accurately measuring sustainability progress emerged as a challenge. Technology was acknowledged as a tool with great potential but must be accompanied by skills and education.
Sanofi, a global healthcare company with the purpose to chase the miracles of science to improve people’s lives also contributed to the Review. Aude Arkam, global head of Eco-Design and Circular Economy at Sanofi, says: “We can use generative AI for life cycle assessments, decreasing the time it takes to collect data extracts, and to generate reports. Generative AI also offers the opportunity to learn from the past and ease decision making.”
The report concludes with three action points for the industry:
- Place sustainability at the top of the corporate agenda and communicate this both internally and externally.
- Focus on measuring emissions, moving away from spend-based methods by investing in technology and encouraging transparency with suppliers.
- Collaborate with value chain partners to establish shared sustainability strategies and achievable goals.
Read the full Global Biopharma Sustainability Review at: www.cytiva.com/sustainability-review
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About Cytiva
At Cytiva, our mission is to advance and accelerate the development of therapeutics. With 15 000 associates in more than 40 countries, we’re driven to use our expertise and talent to achieve better flexibility, capacity, and efficiency for our customers. Our broad and deep portfolio of tools and technologies, global scale, and best-in-class service provides critical support from discovery to delivery, for customers spanning researchers, emerging biotech, large-scale biopharma and contract manufacturers. Learn more at cytiva.com
Media contact:
Colleen Connolly
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