Dr. Reddy’s Laboratories, a global pharmaceutical company, has received significant international recognition for its commitment to sustainability and Environmental, Social, and Governance (ESG) initiatives. These accolades highlight Dr. Reddy’s dedication to responsible practices and its positive impact on the environment and society.
Inclusion in Dow Jones Sustainability Indices
Dr. Reddy’s has achieved a major milestone by becoming the first Indian pharmaceutical company to be included in the prestigious S&P Dow Jones Sustainability World Index (DJSI World) for 2023. This achievement reflects the company’s strong performance in the S&P Global Corporate Sustainability Assessment (S&P Global CSA). Dr. Reddy’s also maintained its position in the Dow Jones Sustainability Index for Emerging Markets (DJSI EM) for the eighth consecutive year.
In the 2023 S&P Global CSA, Dr. Reddy’s achieved a score of 77 out of 100, demonstrating excellence in areas such as Innovation Management, Impact on Access to Healthcare, Climate Risk Management, and Resource Efficiency and Circularity. The company ranked within the top decile percentile and secured the sixth-highest score among 347 pharmaceutical companies assessed. Dr. Reddy’s overall S&P Global ESG score, which evaluates the company’s management of material ESG risks, opportunities, and impact, reached 78 out of 100.
EcoVadis Gold Medal Recognition
Further solidifying its commitment to sustainability, Dr. Reddy’s earned a “Gold Medal” status from EcoVadis, a leading global sustainability ratings agency. With a score of 70 out of 100, Dr. Reddy’s ranks among the top 5% of companies assessed by EcoVadis. This assessment evaluates performance across 21 indicators within four key themes: Environment, Labor & Human Rights, Ethics, and Sustainable Procurement. The EcoVadis methodology is based on international sustainability standards, including the Global Reporting Initiative (GRI), the United Nations Global Compact (UNGC), and ISO 26000.
Commitment to Environmental Initiatives
Beyond these recognitions, Dr. Reddy’s has joined the World Economic Forum’s (WEF) 1t.org community, becoming the first Indian pharmaceutical company to do so. The company has pledged to an extensive integrated plantation initiative, aiming to cover 2,900 hectares by 2028. This initiative, titled “Rooting Resilience: Cultivating Mangroves and Agroforestry Across 2900 Hectares for a Sustainable Future,” encompasses 500 hectares of mangrove, 2,000 hectares of agroforestry, and 400 hectares of coastal bund plantations. This comprehensive approach demonstrates Dr. Reddy’s commitment to environmental restoration and climate mitigation.
Leadership Perspective
G.V. Prasad, Co-Chairman & Managing Director of Dr. Reddy’s, emphasized the company’s dedication to setting high standards in sustainability, stating, “As a company with over two decades of experience in sustainability, we see it as our responsibility to set the bar high…The distinctive aspect of our approach is that our sustainability agenda is now embedded in business.” He further noted that the global recognitions and improved performance reflect the company’s ambitious goals and progress in achieving them.
Conclusion
Dr. Reddy’s multiple awards and commitments demonstrate its leadership in pharmaceutical sustainability. These achievements highlight the company’s integration of ESG principles into its core business strategy, contributing to a healthier planet and a more sustainable future. For more information on Dr. Reddy’s sustainability initiatives, please visit their website.
