The Dow Jones Sustainability Index Shows Pharma Sector Is Less Green

The  pharma  sector loses points in sustainability. The new edition of the  Dow Jones Sustainability Index  (Djsi) has left out three companies that were in the ranking a year ago, and all three are from the pharmaceutical sector: AstraZeneca, Novartis and Amgen.

The index, which highlights companies’ commitment to environmental, social and governance (ESG), included the three companies last year, but all three have now been left out of the global ranking, despite the fact that AstraZeneca and Novartis have entered in the European classification.

“In 2023 there has been another strong response from companies, which see the value of revealing their sustainability results to the capital markets,” the company noted. By market capitalization, the company has eliminated the three pharmaceutical companies from the global ranking, while it has added Tencent Holdings, Philip Morris International and ServiceNow.

The Dow Jones Sustainability Index is made up of those selected by S&P based on the Global Corporate Sustainability Assessment, through questionnaires designed to evaluate sustainability criteria that are financially relevant in economic, environmental and social dimensions. This time the index includes the top 10% of the 2,500 largest global corporations in the S&P Global Broad Market Index. 

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The Dow Jones Sustainability Index: Abbvie is recognized for criteria such as the environmental dimension

In the pharmaceutical area Abbvie is in the lead. The  American biopharma  is specialized in therapeutic areas such as immunology, oncology, neuroscience, eye care, virology and gastroenterology .

In the case of Abbvie, criteria are recognized such as the environmental dimension, contribution to health results, good corporate governance and economic dimension, as well as risk and crisis management, among other aspects.

Among the companies in the pharma sector, Grifols, a Spanish company specialized in the production of medicines derived from plasma, has been crowned as the Spanish and European biopharmaceutical company with the highest result in the index.

Grifols has been included in the Dow Jones Sustainability Index for the fourth consecutive year , distinguishing itself as a leader in the biotechnology sector which, this year (until November 24, 2023), includes 372 companies according to the Global Corporate Sustainability Assessment (CSA). 

Another of the companies in the sector in the noble part of the ranking is Biogen. The American neuroscience company discovers, develops and supplies innovative therapies for people living with serious neurological and neurodegenerative diseases, as well as related adjacent therapies. Biogen, one of the world’s first biotechnology companies, was founded in 1978  by Charles Weissmann, Heinz Schaller, Kenneth Murray, and Nobel Prize winners Walter Gilbert and Phillip Sharp.

At the moment, Biogen has a leading portfolio of medicines to treat multiple sclerosis, has introduced the first approved treatment for spinal muscular atrophy, and has developed  the first and only approved treatment that addresses a defining pathology of Alzheimer’s Disease.

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(Featured image by Markus Spiske via Pexels)

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