According to the report, MSD’s ongoing commitment to ESG is fully integrated into the company’s Corporate Strategic Framework, which is anchored in its purpose to use the power of cutting-edge science to save and improve lives around the world.
The report also reflects milestones such as the December 2021 launch of the Sustainability Funding Framework to raise and target funds for essential ESG projects and support its overall ESG strategy. The company’s first offering was an initial $1 billion sustainability bond aimed at supporting projects and partnerships in its four ESG priority areas.
To further accelerate MSD’s ESG efforts, the company will also continue to be a member of the Billion Dollar Roundtable (BDR), a highly prominent industry organization that recognizes and celebrates companies that successfully invest at least $1 billion with minority-, women-, veteran-, LGBT- and disability-owned businesses. MSD also hosted the latest BDR Summit, which provided an opportunity for companies to optimize their positive economic impact.
Read more about MSD’s commitment to ESG and find other important business news with our companion app Born2Invest.
Other highlights from this year’s report include:
Access to healthcare
The company committed to supplying 91.5 million doses of its human papillomavirus (HPV) vaccine for use in Gavi alliance-supported countries from 2021 to 2025 and completed expansions at its Elkton, Virginia, production facility to increase capacity and supply. With plans for additional expansions of existing and new plants, MSD expects to double the supply of HPV vaccines between 2020 and 2023.
In line with its focus on ensuring broad and equitable access to healthcare, the company began executing a comprehensive supply and access strategy early in the COVID-19 pandemic to accelerate equitable global access to its investigational oral antiviral drug against COVID-19.
The company conducts programs to provide access to its drugs and vaccines when market solutions are inadequate or unavailable. For example, as the war in Ukraine continues, it is committed to getting life-saving aid, medicines, vaccines, and supplies to those who need them most. In the first half of 2022, MSD committed more than $93 million in essential products and funds to ensure that refugees from Ukraine and those remaining in the country have access to healthcare.
In addition to the billions of people MSD has reached with innovative medicines, vaccines, and access strategies throughout its history, the company’s goal is to enable 100 million more people to access its portfolio of innovative products worldwide through access strategies, solutions, and collaborations by 2025.
By 2021, the company achieved more than 99% pay equity in the U.S. between male and female employees, as well as between white and non-white employees in equivalent positions. The company has set a goal of increasing representation in senior management positions by 2024 and reported significant progress in 2021. The company increased the representation of women globally by 36%, up from 31% achieved in 2020. By 2024, it aims to reach 40%.
The company increased black/African American representation in the U.S. to 7% versus 3% achieved in 2020. By 2024, it aims to reach 10%. It also increased U.S. Hispanic/Latino representation to 6% versus 5% in 2020. By 2024, it aims to increase it to 10%.
MSD is on track to achieve carbon neutrality across its operations by 2025. Aiming to reduce its operational greenhouse gas (GHG) emissions (scopes 1 and 2) by 46% by 2030 against the 2019 baseline, the company achieved a 9% reduction in scope 1 and 2 emissions against the 2019 baseline.
With a target of obtaining 100% of its electricity from renewable sources by 2025, MSD obtained 41% of its electricity from renewable energy sources in 2021. The company continues to work on transitioning to renewable energy sources to meet its 2025 renewable energy target.
Ethics and values
In 2021, MSD maintained 100% compliance with regulatory requirements for active incident monitoring, risk/harm analysis, and timely reporting of data breaches. The company fosters a culture of “speaking up” with the goal of maintaining or exceeding its current percentage of employees responding favorably to the “Willingness to Report” question in the employee survey on an annual average.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in compromiso RSE, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
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