Do Pharma CEOs Have the Prescription for a Net Zero World?
Nov 22, 2023
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CEOs of Novo Nordisk and AstraZeneca discuss the Sustainable Markets Initiative Health Systems Task Force, decarbonizing the supply chain, and innovation in the pharmaceutical industry towards achieving a net-zero world.
The Sustainable Markets Initiative (SMI) Health Systems Task Force aims to decarbonize the healthcare sector through efforts such as reducing energy consumption and leveraging digital healthcare to improve patient outcomes and lower carbon emissions.
Collaboration and joint efforts across various stakeholders in the healthcare industry, including pharmaceutical companies, energy companies, and hospitals, are essential to reducing carbon emissions and promoting sustainable practices in the sector.
Deep dives
Climate Change and Global Health
Climate change poses a significant threat to humanity and the environment, with various health issues like cancers, respiratory diseases, cardiovascular diseases, and infections directly linked to carbon emissions and climate change. The healthcare sector itself is a significant contributor to carbon emissions, raising concerns about its impact on both climate and health. The Sustainable Markets Initiative (SMI) Health Systems Task Force, a public-private partnership, has been established to address the decarbonization of the healthcare sector, involving pharmaceutical companies, WHO, NHS, and academic institutions. Efforts are being made to decarbonize the supply chain, reduce energy consumption, leverage digital healthcare, and focus on early diagnosis and intervention to improve patients' health outcomes, reduce hospitalizations, and lower carbon emissions.
Collaboration and Actions for Decarbonization
The healthcare industry acknowledges its responsibility to reduce carbon emissions and play a significant role in addressing the climate crisis. Companies are taking steps to decarbonize their own operations, such as using renewable energy sources, transitioning to electric vehicles, and reducing energy consumption. A joint effort is being made to set common expectations and targets for suppliers to reduce emissions and ensure responsible sourcing. The focus is also on creating a transparent footprint for healthcare products to guide environmental sustainability efforts. Collaboration is key, involving various stakeholders across the healthcare sector, including pharmaceutical companies, energy companies, logistics companies, and hospitals. By working together, it is believed that the healthcare industry can lead the way in reducing carbon emissions and promoting sustainable practices.
The Future of Health and Climate Change
Addressing climate change in the healthcare sector is not just an environmental concern, but also a matter of public health and sustainability. The interplay between climate and health emphasizes the need for proactive measures. Tackling climate change offers the opportunity to improve health outcomes, reduce healthcare costs, and create a more sustainable future. By focusing on early diagnosis, preventive measures, and reducing hospitalizations, healthcare companies aim to protect both human health and the environment. Collaboration, investment, and innovation are seen as crucial to achieving these goals. It is believed that by committing to change and collaborating across the sector, a positive impact can be made on both climate change and global health.
Ahead of COP28, the UN’s climate conference, we explore the unique ways public-private partnerships help achieve sustainability goals. Lars Fruergaard Jørgensen, CEO of Novo Nordisk; Pascal Soriot, CEO of AstraZeneca; and Christine O’Brien, lead for BCG’s climate and sustainability practice in health care, discuss the projects and success of the Sustainable Markets Initiative Health Systems Task Force.
The Task Force brings together global health leaders to enhance individual, societal, and planetary health. Together, they have launched sector-first commitments, actions, and recommendations to accelerate the delivery of net zero, patient-centric health systems.