3 Trends I’m Watching in Sustainability
3 Trends
1. Voluntary reporting becomes mandatory
What we now observe is that governments and regulatory bodies worldwide are increasingly creating regulations that will strengthen current disclosure and enhance transparency of companies’ sustainability practices. This shift incentivizes the private sector to improve its sustainability practices and performance. Financial incentives and market pressure from ESG-focused investors and lenders further encourage this trend.
I hope that regulations will drive innovation and enhance long-term risk management as they progress.
2. Integration of sustainability into the business
At Teva, sustainability considerations are being integrated into every aspect of the company. As we say at Teva "Sustainability is everyone's business".
Functions are now required to include sustainability considerations in their annual operating plans (AOP) and long-range planning (LRP). This collective effort ensures accountability across the business to achieve sustainability objectives.
3. Real world measurable impact
Companies are now expected to provide concrete data on the outcomes of their sustainability initiatives. This for example could mean detailing how many people were positively impacted through an initiative and in what way.
In conclusion, the sustainability landscape is evolving rapidly, driven by stringent regulations, integrated decision-making processes, and the demand for measurable impact. Companies that embrace these trends will not only comply with emerging regulations but also lead the way in creating a more sustainable healthy future.
NPS-ALL-NP-01355-AUGUST-2024
Find out more:
- about the latest trends in global generic medicines
- why Teva has just been named as one of the world’s most sustainable companies
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