Business
Dr Reddy’s becomes sole Indian pharma player to make it to Dow Jones Sustainability World Index 2023 – Times of India
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HYDERABAD: Pharma biggie Dr Reddy’s Laboratories Ltd on Thursday said it has become the first and sole Indian pharma company to find a place on the Standard & Poor Dow Jones Sustainability World Index (DJSI World) for 2023.
The Hyderabad-headquartered company said it has also retained its place in the Dow Jones Sustainability Index for Emerging Markets (DJSI EM) for the eighth consecutive year.
The DJSI recognitions are based on the company’s performance in the S&P Global Corporate Sustainability Assessment (S&P Global CSA) along with other screening criteria, it said.
Dr Reddy’s informed the bourses that it was ranked in the top decile percentile and achieved the sixth highest score among 347 companies assessed in the pharmaceuticals industry in the S&P Global CSA and also scored a 78 out of 100 in the S&P Global ESG score, which measures a company’s performance on management of material ESG risks, opportunities and impact.
On the other hand, it scored 77 out of 100 in the 2023 S&P Global CSA 1 with full scores in parameters such as innovation management, impact on access to healthcare, climate risk management, and resource efficiency and circularity, Dr Reddy’s said.
Commenting on the development, Dr Reddy’s co-chairman & managing director G V Prasad said: “As a company with over two decades of experience in sustainability, we see it as our responsibility to set the bar high. Going beyond the environment, we have set ourselves ambitious and measurable goals for patients, employees and governance.
“The distinctive aspect of our approach is that our sustainability agenda is now embedded in business. These prestigious global recognitions, the strong year-on-year improvement in our performance, and our elevation to the World Index of the DJSI are a reflection of our bold goals and the progress we have been making in meeting them.”
In addition to these, the company has also been awarded the gold medal status by global sustainability ratings agency EcoVadis for scoring 70 out of 100 in its 2023 scorecard that places the company among the top 5% of companies assessed.
The scorecard measures performance across 21 indicators across four areas – environment, labour and human rights, ethics and sustainable procurement and is built on international sustainability standards and includes the Global Reporting Initiative (GRI), the United Nations Global Compact (UNGC), and the ISO 26000.
The Hyderabad-headquartered company said it has also retained its place in the Dow Jones Sustainability Index for Emerging Markets (DJSI EM) for the eighth consecutive year.
The DJSI recognitions are based on the company’s performance in the S&P Global Corporate Sustainability Assessment (S&P Global CSA) along with other screening criteria, it said.
Dr Reddy’s informed the bourses that it was ranked in the top decile percentile and achieved the sixth highest score among 347 companies assessed in the pharmaceuticals industry in the S&P Global CSA and also scored a 78 out of 100 in the S&P Global ESG score, which measures a company’s performance on management of material ESG risks, opportunities and impact.
On the other hand, it scored 77 out of 100 in the 2023 S&P Global CSA 1 with full scores in parameters such as innovation management, impact on access to healthcare, climate risk management, and resource efficiency and circularity, Dr Reddy’s said.
Commenting on the development, Dr Reddy’s co-chairman & managing director G V Prasad said: “As a company with over two decades of experience in sustainability, we see it as our responsibility to set the bar high. Going beyond the environment, we have set ourselves ambitious and measurable goals for patients, employees and governance.
“The distinctive aspect of our approach is that our sustainability agenda is now embedded in business. These prestigious global recognitions, the strong year-on-year improvement in our performance, and our elevation to the World Index of the DJSI are a reflection of our bold goals and the progress we have been making in meeting them.”
In addition to these, the company has also been awarded the gold medal status by global sustainability ratings agency EcoVadis for scoring 70 out of 100 in its 2023 scorecard that places the company among the top 5% of companies assessed.
The scorecard measures performance across 21 indicators across four areas – environment, labour and human rights, ethics and sustainable procurement and is built on international sustainability standards and includes the Global Reporting Initiative (GRI), the United Nations Global Compact (UNGC), and the ISO 26000.
