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      Companies in the life sciences and chemicals sector are under increasing pressure to integrate environmental, social and governance (ESG) principles into their strategies, operations and reporting in order to enhance their reputation, mitigate risk and attract investment. Investors, stakeholders and consumers are increasingly taking ESG factors into account when making decisions because they want to support companies that are aligned with their values and have sustainable practices.

      ESG is highly relevant for both sectors

      Given the breadth of the ESG topic area, the challenges for the life sciences and chemical industries are manifold. Decarbonising the energy supply of companies and supply chains, affordable access to pharmaceuticals, water and resource use and the circular economy are just a few selected construction sites that are highly relevant for both industries.

      • Requirements from the environmental sector

        The life sciences and chemical industries have a significant impact on the environment due to their emissions, use of natural resources and chemical pollution. Environmental considerations therefore focus on reducing the carbon footprint, minimising pollution, managing water resources and promoting sustainable practices.

        To overcome these challenges, companies are required to invest in research development, find innovative solutions, utilise environmentally friendly technologies, develop cleaner production processes, use alternative energy sources and demonstrate responsible resource management.

      • Questions on the social aspect of ESG

        The social aspect of ESG in the life sciences and chemicals sector encompasses a company's own workforce, the employees in its supply chains and society as a whole. The S in ESG addresses the social responsibility that a company bears towards its employees and society. This includes fair labour practices, health and safety in the workplace, diversity and inclusion, training opportunities and respect for human rights, as well as consumer protection (e.g. safe products).

        Other key drivers are social commitment and access to medical care.

        One of the key tasks is also to ensure that suppliers also comply with ESG standards. This means that companies must monitor the sustainability of their supply chains and ensure that social and environmental standards are met. The Supply Chain Due Diligence Act (LkSG), which has been in force since 1 January 2023, provides the legal framework for companies' due diligence obligations with regard to compliance with human rights and environmental protection along the entire supply chain.

      • Factors for sustainable governance in terms of the ESG criteria

        The governance aspect focuses on the transparency, accountability and ethical behaviour of companies. This includes corporate governance structures that define board diversity, executive remuneration, guidelines for the humane treatment of animals in animal testing, information on payment behaviour, anti-corruption measures and compliance with regulations.

      • Steps for a value-generating implementation of ESG

        Companies in the life sciences and chemicals sector that integrate ESG factors into their business strategy secure their competitive advantages and increase their profitability and corporate value. This involves setting targets and performance indicators, implementing sustainable practices, improving transparency and involving stakeholders in the decision-making process.

        Our experts will help you to better position your company for the future and support you in developing a customised, value-generating ESG strategy and improving ESG performance.

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      Fact check: Omnibus

      What needs to be considered in the CSRD omnibus package for sustainability reporting?

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      ESG in the life sciences and chemicals sector

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      Environmental

      Reducing the carbon footprint, minimising pollution, managing water resources and promoting sustainable practices.

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      Social

      Fair labour practices, health and safety in the workplace, diversity and inclusion, training opportunities and respect for human rights, as well as consumer protection (e.g. safe products) and access to affordable medicines.

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      Governance

      Corporate governance structures that define board diversity, executive remuneration, guidelines for the humane treatment of animals in animal testing, payment behaviour disclosures, anti-corruption measures and regulatory compliance.

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