|
A joint report by Confederation of Indian Industry (CII) and Deloitte called for a coordinated approach involving pharmaceutical enterprises, Government agencies, financial institutions, and Industry associations to embed sustainability across the value chain.
The report released on Friday further added that India's pharmaceutical and life sciences sector is well-positioned to emerge as a global leader in bio-positive, sustainable healthcare solutions by fostering innovation in green chemistry and manufacturing, enhancing governance frameworks, and prioritising value-chain collaboration. India's pharmaceutical and life-sciences sector stands at a critical inflection point, balancing the imperative to scale global access to quality medicines while embedding sustainability across the entire value chain. The CII-Deloitte report demonstrates how Environmental, Social and Governance (ESG) practices are emerging as key drivers of competitiveness, capital access, and stakeholder trust-transforming sustainability from a compliance obligation into a strategic business advantage. Decarbonisation has emerged as a fundamental business imperative for pharmaceutical enterprises. The report outlines a practical, actionable decarbonisation roadmap that combines green chemistry in Research & Development (R&D), HVAC optimisation with heat recovery, renewable energy adoption (both on-site and through Power Purchase Agreements), solvent recovery initiatives, circular packaging solutions, logistics optimisation, and structured supplier engagement. According to the report, these strategies are anchored by robust governance frameworks and data systems, with internal carbon pricing mechanisms aligning investment decisions with long-term climate objectives. The report identifies material ESG topics specific to pharmaceuticals, including climate strategy, product stewardship, human capital development, supply chain sustainability, clinical trial governance, human rights protection, and water and waste management. Companies that strategically address these areas will strengthen their competitive positioning and enhance their social license to operate. Case studies of Indian pharmaceutical enterprises with Science Based Targets initiative (SBTi) validation illustrate credible pathways for managing Scope 1, 2, and 3 emissions. These examples demonstrate how process efficiency improvements, renewable energy integration, comprehensive supplier engagement programs, and transparent monitoring systems create measurable impact while enhancing operational performance and financial returns. As India advances toward long-term climate milestones and capital markets increasingly reward sustainable practices, pharmaceutical enterprises that prioritise operational efficiency, renewable energy integration, and value-chain collaboration--underpinned by robust governance frameworks--will unlock significant competitive advantages. These include access to sustainable finance mechanisms, expansion into new markets with stringent ESG requirements, and strengthened social license with regulators, healthcare providers, and consumers, the report added. (ANI)
|
