Highlights include environmental goals based on climate science, workforce empowerment, focus on local partnerships, and supply chain resiliency.
PCI Pharma Services has released our first Environmental, Social & Governance (ESG) Report. A detailed overview of our multifaceted sustainability journey, the report showcases the strides taken from the program’s formal inception in 2021 through the 2023 fiscal year, and lays out ambitious goals for continued progress along multiple fronts.
The in-depth report discloses performance, targets, and strategy to achieve nine identified impact categories, from sustainability-focused practices concerning carbon footprint, responsible waste management and eco-conscious procurement to people-first issues such as health and safety, community impact and DEI. Given our position as a world-class CDMO whose global customers and vendors number well into the thousands, our ESG initiatives are intended to purposefully impact the many local and global communities we interact with, cares for and serves.
True to this mindset, the ESG program is inherently inclusive and bottom-up. The report includes our approach to a Double Materiality Assessment, which gathers input from hundreds of employees as well as external stakeholders including customers, supplier partners, investors and community organizations. The purpose of this assessment is to identify those ESG elements important to and emphasized by all stakeholders and, from there, to focus on meaningful and measurable progress against those critical factors.
Encouragingly, the Double Materiality Assessment indicated that the majority of the ESG impact categories are in alignment with its stakeholders’ priorities. Even so, the assessment results were insightful and were taken into account to ensure long-term alignment between stakeholder priorities and the ESG strategy.
Other highlights from PCI’s ESG report include:
- Emission reduction targets. By 2030, we aim to
- Reduce Scope 1 and 2 Greenhouse Gas emissions by 40%
- Cut its energy intensity by 50%
- Purchase 100% of its energy from renewable sources
Carbon footprint targets and strategy were developed in alignment to Science Based Targets. By 2045, we aim to achieve a Net-Zero carbon footprint across its entire supply chain.
- Water conservation. By 2030, we plan to reduce global water consumption by 50% per cubic meter, and while the pharma sector’s cleanliness and sterility needs are inherently water-intensive, PCI remains committed to this ambitious goal.
- Waste management. By 2030, targets non-hazardous waste intensity reduction by 33%, reduction of waste sent to landfills by 90%, and has plans in place to reach 100% recycling of recyclable waste.
* All environmental targets were calculated against a 2020 baseline.
- Community Impact. We have established a formal giving-back strategy focused on year-over-year increases in employee participation and measurable community impact for each of our global sites and corporate functions. Activities on this front include identifying the greatest needs of local communities and partnering with relevant organizations; communicating volunteer opportunities and encouraging employees to create interest groups; and a novel program called the ESG Day Initiative, in which employees can log up to eight hours per year of company-sponsored volunteer activities across various categories.
- Organization-wide DEI. PCI remains dedicated to enhancing our inclusion and diversity measurements, with a particular focus on pay equity and balanced gender and ethnic representation throughout the organization, extending to levels of executive and board leadership. Our DEI efforts extend beyond operations and into the supply chain; with the Supplier Diversity Program, PCI is increasing support for businesses owned by women, minorities and vulnerable groups in the supply chain.
A healthcare service company at its core, We see our approach to ESG as showcasing how the wellbeing of the planet and its people are intimately interconnected.
“Although we at PCI formally established our ESG Program in 2021, our ESG consciousness is by no means new,” said Salim Haffar, CEO of PCI Pharma Services. “As a responsible business, we have been evolving daily to align our commitments, culture, and performance with the wellbeing of humans, the planet and the communities we serve. As a team, we are learning and adapting to industry best practices, sharing lessons learned along the way, and building a strong foundation for a resilient future.”