Parma (Italy), July 27th, 2023 – Chiesi, the international research-focused biopharmaceutical group, has today released its Sustainability Report 2022. The report showcases how Chiesi’s business growth is deeply tied in with its dedication to sustainable development and highlights the company’s achievements in creating shared value.
In 2022, the Group pursued its work along the four common benefit purposes of patient care, environmental stewardship, development of local communities, and the well-being of its staff. These purposes were also integrated into the bylaws of all Chiesi affiliates globally.
A transparent, patient-centric approach
Chiesi is committed to generating sustainable value for patients by providing innovative therapeutic solutions. In 2022, the Group invested 589 million euros in Research & Development (R&D), a figure that grew by 7% from the previous year, accounting for 21.4% of total revenue. Chiesi ranked as the first Italian pharmaceutical company in the EU’s list of top investors and was confirmed as the first Italian pharmaceutical company for patent deposits in Europe by the European Patent Office.
Chiesi remains fully committed to clinical trial transparency and data-sharing beyond mandatory disclosure requirements. The Group discloses clinical protocols, study-related information, and summary results of clinical studies in public registries at global level. Chiesi has also been increasing its engagement activities with patient groups as well as expanding cross-company initiatives that embed patient engagement culture across all functions.
As a testament to its pursuit of the highest level of compliance, in 2022 Chiesi was awarded for the third time the highest score on ethics by the Italian Competition and Market Authority (AGCM).
Sustainable growth driven by measurable targets
In 2022, Chiesi transitioned its target of carbon neutrality to the more stringent new standard of Net Zero emissions and strengthened its greenhouse gas emissions mitigation plan. The company aims to reach Net Zero greenhouse gas (GHG) emissions by 2035. Chiesi’s reduction targets have been approved by the Science Based Target Initiative (SBTi). They are in line with the Paris Agreement’s most ambitious goal of limiting global temperature rise to 1.5°C above pre-industrial levels by 2100.
Chiesi’s mitigation strategy follows a hierarchical approach that prioritises avoiding and reducing emissions over their removal and substitution. Its emissions performance is reported transparently every year. In 2022, Chiesi was included in the “Climate Change A List” by the Carbon Disclosure Project (CDP) for its commitment to climate action and transparency – recognition obtained only by 2% of the 15,000 companies that submitted data.
Last year, Chiesi also successfully completed its first recertification as a B Corp by the non-profit organisation B Lab. B Corp companies excel in meeting high social and environmental standards, as determined by the rigorous B Impact Assessment (BIA). In 2022, Chiesi was recertified with a better score than the one obtained for its first certification in 2019: a recognition of its sustainability accomplishments, whilst also highlighting room for improvement in the upcoming years.
Maria Paola Chiesi, Chiesi’s Vice Chair and Head of Shared Value & Sustainability, stated: “I am glad for what we were able to accomplish over the past year. Transitioning to the Net Zero Emissions standard showcases our dedication to reducing greenhouse gas emissions and mitigating our environmental impact across all operations. We will continue to grow our business sustainably while meeting high standards of social and environmental performance, transparency, and accountability.”
Creating shared value
Chiesi aims to create and distribute direct and indirect economic value to support and promote the development and well-being of local communities. In 2022, Chiesi generated €2,807.5 million in economic value, of which 82.9% was distributed to stakeholders and 17.1% was reinvested within the company.
The Group commits to extending its commitment to sustainability with its business partners via a Code of Interdependence: a set of common values, ethical working methods, and best practices on environmental protection. In 2022, 91% of the new strategic suppliers were covered by the Code of Interdependence, and 95% of Chiesi expenditure was covered by a unique vendor qualification process that rewards sustainability performance among its selection criteria.
Chiesi remains involved in community outreach programmes, driving a collaborative approach in five areas of intervention for local community development: environmental protection, education, culture, social inclusion, and emergency relief.
In 2022, the Group demonstrated unwavering support for patients in conflict territories by providing uninterrupted access to life-saving products, and by granting monetary support to humanitarian NGOs, as well as donating Chiesi treatments to newborns and transplant patients whenever possible. In 2022, the Group donated over 130,000 units of Chiesi medicines, valued at €4.5 million. The Group’s contribution to positive societal impact goes beyond healthcare, with over 26.1 million euros in donations and other social-purpose contributions.
Equal opportunities for a diverse workforce
In 2022, Chiesi closed the gender pay gap at Group level. The Chiesi workforce at Group level is close to a gender-balance and composed of slightly more women (54%). In leadership positions, men account for about 60.1% of staff, a figure decreasing in recent years, marking a positive trend towards balanced representation of gender. Chiesi is the first pharmaceutical company in Italy to receive a gender equality certification granted by the Italian government, obtained with a score of 89/100.
Chiesi continues to implement its Global Diversity & Inclusion (D&I) policy, run by a specific D&I Committee, to guarantee that diversities in ethnicity, sexual orientation, gender identity, socio-economic status, age, physical abilities, religious beliefs, political beliefs, mindset, lifestyle, and other invisible diversities are an integral part of the Group.
In 2022, Chiesi was certified as Top Employer in Italy (for the 15th time) and in the EU for the 11th consecutive year). The recognition was also granted in Brazil, the United States, and for the first time in Pakistan.
Giuseppe Accogli, CEO of Chiesi Group commented:
“2022 was a year of upheaval and change, challenging us to rethink and navigate through uncertain times. I’m happy to see that Chiesi has embraced the responsibility to drive change within the sector. Our 2022 Sustainability Report reflects our resolute commitment to social and environmental performance and as a Benefit Corporation and a B Corp, we remain committed to creating shared value and improving lives responsibly, believing in a better, healthier, and more sustainable world”.
Please learn more on Chiesi’s sustainability achievements in 2022 the full report.
About Chiesi Group
Chiesi is an international, research-focused biopharmaceuticals group that develops and markets innovative therapeutic solutions in respiratory health, rare diseases, and specialty care. The company’s mission is to improve people’s quality of life and act responsibly towards both the community and the environment.
By changing its legal status to a Benefit Corporation in Italy, the US, and France, Chiesi’s commitment to create shared value for society as a whole is legally binding and central to company-wide decision-making. As a certified B Corp since 2019, we’re part of a global community of businesses that meet high standards of social and environmental impact. The company aims to reach Net-Zero greenhouse gases (GHG) emissions by 2035.
With over 85 years of experience, Chiesi is headquartered in Parma (Italy), operates in 31 countries, and counts more than 6,500 employees. The Group’s research and development centre in Parma works alongside 6 other important R&D hubs in France, the US, Canada, China, the UK, and Sweden.
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