Pharma & ESG

PatientView invites all patient groups to give their views and opinions on ESG and pharma.

PatientView’s annual, independent ESG study examines patient-group opinions on the pharmaceutical industry’s performance (and that of 40 individual pharma companies) at ESG strategies during 2024, tied to eight key indicators. PatientView invites you and your organisation to submit your views on:

  • Whether pharma’s ESG goals and strategies have any impact on YOUR patient group.
  • Your patient group’s understanding of whether pharma’s ESG goals and strategies have any impact on the public (that is, ON SOCIETY IN GENERAL). And, finally …
  • How you would like pharma to ENGAGE with YOUR patient group on the subject of pharma and ESG.
Access the survey in your language here.

What value does patient opinion have on pharmaceutical environmental, social and governance (ESG) in 2024?

In the years following the COVID-19 pandemic, pharma companies have made more and more ESG pledges to patients, such as plans for reducing supply chain emissions or programmes to increase treatment availability in low-income regions. These promises continue to grow in number and significance, as companies seek to showcase the underlying mission of the pharma industry, to promote health, treat illness and save lives.

For both pharma and the patients it serves, this is good news. A progressive move to environmental and social responsibility means more affordable healthcare and less climate impact from pharmaceutical companies. Investors are also beginning to shift their priorities to more ESG-focused offerings although thirty percent of investors claim they have difficulty locating suitable and appealing ESG investing possibilities, despite the market’s explosive growth for ESG investment products.

But if pharma’s movement towards ESG policy and messaging was brought on by the developing opinion of patients and patient groups globally, do they still have the ability in to hold pharma to account on their pledges and ESG goals in 2024?

Staying on the right side of patient opinion

The environmental impacts of pharmaceutical operations are potent and far-reaching. According to the University of Bath – for every kilogram of drug produced, 100kg of waste is also created. Many treatments have unexpected environmental effects – such as hydrofluorocarbon propellant used in medicinal inhalers (pMDIs), which is a powerful greenhouse gas. In total, pMDI usage contributes 3.5% of The National Health Service’s (NHS) total greenhouse gas emissions.

Despite patient concerns that ESG practices could lead to comprised patient care, the majority of patient groups still want to see more environmentally friendly production and policy-making within pharma. 67% of the 42 allergy and respiratory-conditions patient groups responding to PatientView’s 2023 ESG survey “always” or “sometimes” considered a pharma company’s efforts to protect the environment (‘E’) when deciding whether to form a relationship with the company.

The same is true for patient perspectives on pharma’s commitment and delivery of social (‘S’) and governance (‘G’) action. 90% of the 52 HIV/AIDS patient groups responding to the 2023 ESG survey “always” or “sometimes” considered a pharma company’s social performance when deciding whether to form a relationship with the company, and 85% will take into account its corporate governance.

Pharma has no choice but to listen and respond to the voice of patient groups on critical topics like ESG. Patient groups occupy a unique position within the global healthcare landscape. Possessing unique insight on the pressure placed on healthcare and patients and entrusted with a deeper sense of responsibility from their members, patient groups sit at the cross-section of many factors of the pharma industry and are a vital healthcare stakeholder.

Patient group experience and opinion must be communicated loud and clear to pharma, to ensure ESG promises are made and honoured, with transparent reporting and communication to patients.

Can patients keep pharma accountable?

According to GlobalData’s analysis of over 559 pharmaceutical company filings, mentions of environmental sustainability fell by 78% in Q2 2024 (when compared with the previous quarter) (2). Geopolitical tension, rising business costs and AI development have all competed with ESG for the industry’s attention in recent years.

However, the same study from GlobalData found that environmental sustainability was still one of the most frequently referenced themes in Q2 2024, ranking highest in terms of mentions, ahead of topics like electronic medical record systems and industrial automation.

Pharma in 2024 is still wrestling with the trade-off between ESG actions and maintaining profitable business practices. But ultimately, companies rely on long-term sustainability, corporate reputation and patient opinion to remain successful. The value of ESG is clear – pharma companies must always be assessing and benchmarking their ESG standing against competitors, so that underperforming areas can be identified and focused on.

The voices of patient groups that care about ESG becomes louder when collated together in one place. Add your patients’ experiences to the narrative and have your say on ESG in pharma.

 

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