Pharma Merck announces significant developments in ESG target areas

USA- Merck has released its 2021/2022 Environmental, Social, and Governance (ESG) Growth Report, which highlights the company’s performance and progress in four ESG emphasis areas

The ESG areas include; Access to Health, Employees, Environmental Sustainability, and Ethics and Values.

Merck’s historic ESG commitment is completely incorporated in the company’s Corporate Strategic Framework, which is grounded in the company’s objective of leveraging the power of cutting-edge science to save and improve lives throughout the world.

The report also highlights milestones such as the company’s December 2021 launch of its Sustainability Financing Framework to raise and direct funds to essential ESG initiatives and support our overall ESG strategy.

The company’s initial issue was a US$1 billion sustainability bond to fund projects and partnerships in their four ESG priority areas.

Merck will also maintain its membership in the Billion Dollar Roundtable (BDR), a renowned industry association that recognizes and celebrates firms that spend at least US$1 billion with minority, women, veterans, LGBT, and disability-owned enterprises.

The pharma also hosted the most recent BDR Summit, which allowed enterprises to maximize their positive economic impact.

For usage in Gavi-supported nations from 2021 to 2025, the business has committed 91.5 million doses of its human papillomavirus (HPV) vaccinations, and it anticipates a doubling of the HPV vaccine supply between 2020 and 2023.

For employees who were in equivalent positions and who were male or female as well as non-white as well as white, the corporation achieved >99% pay equity in the U.S. in 2021.

The corporation reported significant progress in 2021 toward its objectives to expand diversity in senior management posts by the year 2024.

From 31% in 2020, the corporation increased the representation of women globally to 36%. The company wants to boost representation to 40% by 2024.

The corporation boosted Black/African American representation in the U.S. from 3% in 2020 to 7% now and wants to boost representation to 10% by 2024.

For usage in Gavi-supported nations from 2021 to 2025, the business has committed 91.5 million doses of its human papillomavirus (HPV) vaccinations, and it anticipates a doubling of the HPV vaccine supply between 2020 and 2023.

Early in the COVID-19 pandemic, the business started implementing a thorough supply and access strategy to hasten equitable global access to the company’s investigational oral antiviral COVID-19 medication.

In situations where market-based solutions are insufficient or unavailable, the business undertakes programs to make its medications and vaccinations accessible.

By 2025, the company hopes to increase access to its unique portfolio by 100 million additional individuals worldwide through partnerships, solutions, and access strategies.

Liked this article? Sign up to receive our regular email newsletters, focused on Africa and World’s healthcare industry, directly into your inbox. SUBSCRIBE HERE