In our opinion, Amgen, the biopharmaceutical company, is an inspirational peer in the realm of ESG. Here's how.
Photo from Fierce Pharma
In the ever-evolving and expanding world of ESG, companies are constantly looking to push their programs to the next level. Or, if they are still getting their strategy in place, they are usually asking, “who does it best?”
At Global Imprint, we know how helpful it is to define an aspirational peer that sparks inspiration in creating an ESG program that is both appreciated by key stakeholders and remains true to the heart of the business.
In our opinion, Amgen, the biopharmaceutical company, is one of those inspirational peers. Why? For three reasons: disclosure transparency, governance oversight, and proactiveness in addressing critical industry issues.
1. Transparent public disclosures
In the world of ESG, disclosure is king. No matter if you’re an investor, rating agency, employee, or customer, it isn’t easy to gauge a company’s sustainability priorities without the proper communications. And, this is where we think Amgen excels.
First is the company’s Responsibility website. Not only is the page visually appealing, but it is highly detailed in providing information that underscores the company’s corporate social responsibility strategy. For example, using the section breakdown on the website, users can sift through all types of ESG-related information. From the company’s diversity policy to its 2027 environmental plan to its stakeholder analysis work, you’ll find everything you need to know on this website. And, our favorite part, the company provides an ESG FAQ list that helps shareholders and stakeholders alike get ahead of some of their most common ESG-related questions.
Another instance where the company is a leader when it comes to ESG disclosures is its Environmental, Social, and Governance Report. In the report, readers can find ESG-related metrics, goals, and progress across the company’s material program elements of:
Business Ethics
Ethical Research
Access to Medicine
Diversity, Inclusion, and Belonging
Environmental Sustainability
Responsible Sourcing
Community Investment
For companies newer to the ESG landscape, this is an excellent report to keep on hand a couple of years down the road. Amgen has produced an annual report since 2013, so there’s no question they have built up their disclosures over time – which is precisely what you can do too.
2. Prioritizes governance oversight
As we look to the next economy, the successful companies are the ones that put ESG and sustainability at the heart of the organization. That means company strategy, objectives, operations, and even products will take a sustainability-focused lens. And, all of these components will be guided by the tone set at the top.
Amgen is already leading the way when it comes to corporate disclosures. Yet, we’re even more impressed with the company's steps to lead the ESG charge from the boardroom down. The company has established a Corporate Responsibility and Compliance Committee that oversees social responsibility aspects of the organization. And, in the company’s most recent Proxy Statement, the committee is said to oversee environmental sustainability activities.
3. Tackles key industry issues
While public disclosures and governance oversight of ESG activities are becoming essential to any sustainability program, what we’re most impressed with when it comes to Amgen is the company’s proactiveness in tackling industry issues.
In the healthcare industry, two of the most essential topics constantly in circulation are access and affordability. Amgen takes these two issues head-on with its framework approach that shares the company's actions towards:
Providing access to approaches, collaborations, and lower-cost treatment options
Transforming treatment and approaches with digital health technology
Shaping the future of healthcare with investments and solutions
Why is this important? This level of information shows Amgen’s commitment to doing better and being better goes well beyond a website or sustainability report. It shows they are aware of the issues impacting their industry and are taking steps to address them in a way their business is best positioned to.
Ready to get your ESG strategy off the ground and become a leader in your industry? At Global Imprint, we are ready to create an ESG+ roadmap that sets your business up for the long haul. So, reach out to us today to start planning.