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Nurturing Tomorrow’s Health: The Imperative of Sustainability in Life Sciences

Akhil Jishnu P
Communications & Media Industry —A Futuristic Outlook
Published in
7 min readMar 20, 2024

In the realm of life sciences, where the pursuit of innovation and progress is paramount, a crucial facet often overlooked is sustainability. While the industry continually pushes boundaries to enhance human health and well-being, it must also embrace environmental responsibility to ensure a viable future for generations to come. Balancing this imperative with business objectives presents a unique challenge, but one that holds immense promise for the advancement of both society and the sector itself.

At its core, sustainability in life sciences encompasses a multifaceted approach that extends beyond reducing carbon footprints. It encompasses the conservation of resources, ethical practices, and the promotion of social equity. The industry’s reliance on natural resources, energy-intensive processes, and waste generation underscores the urgency to integrate sustainability into its DNA.

In recent years, the life sciences industry has faced increasing pressure to address sustainability concerns while pursuing innovation and growth. Stakeholders demand greater accountability for environmental impact, prompting companies to navigate the complex landscape of sustainability initiatives while maintaining competitiveness.

Sustainability Challenges in the Industry

The life sciences industry faces unique sustainability challenges throughout its operations.

Table 01: Major Sustainability challenges faced by the Life Sciences Industry

Importance of Sustainability in the Industry

The life sciences industry plays a crucial role in addressing global health challenges and improving quality of life. However, the industry’s operations have significant environmental footprints, including energy consumption, waste generation, and carbon emissions. With growing awareness of climate change and environmental degradation, stakeholders, including consumers, investors, and regulators, are increasingly scrutinizing companies’ sustainability efforts.

A study by McKinsey & Company reveals that only 22% of life sciences executives believe sustainability will significantly drive value creation in the next five years. While this percentage may seem low, it still suggests that a significant portion of industry recognizes the growing importance of sustainability. This reflects a recognition of the interconnectedness between environmental stewardship and long-term business success. The Triple Bottom Line (TBL) approach guides sustainable practices, emphasizing the importance of considering environmental, social, and economic factors in decision-making processes. Life sciences companies align their sustainability initiatives with relevant SDGs to contribute to broader societal goals while creating value for stakeholders.

Figure 01: UN SDGs relevant for Life Sciences Industry

Innovation for a Sustainable Future

Life sciences companies are actively innovating and implementing various strategies to address these challenges and build a more sustainable future. Here are some notable examples:

  • Transitioning to Renewable Energy: Companies are increasingly investing in renewable energy sources like solar and wind power to reduce their reliance on fossil fuels and decrease their carbon footprint. Novartis aims to achieve carbon neutrality in its operations by 2025 by investing in renewable energy sources and energy efficiency improvements.
  • Enhancing Energy Efficiency: Optimizing processes, adopting energy-efficient technologies, and investing in green buildings are contributing to significant reductions in energy consumption. Pfizer has committed to reducing greenhouse gas emissions by 95% and value chain emissions by 90%. The company aims to achieve Net Zero by 2040. They are also working to improve energy efficiency in their operations.
  • Water Conservation and Management: Implementing water-saving technologies, reusing wastewater, and collaborating with local communities for sustainable water management are crucial steps. AstraZeneca is committed to water stewardship and has targets, initiatives and goals across operations to reduce impacts and be a positive actor in the river basins where it operates.
  • Sustainable Packaging and Products: Utilizing recyclable, biodegradable, and bio-based materials in packaging and developing products with lower environmental footprints are gaining traction. Sanofi foster eco-design for all its new products and packaging by 2025 and for its top-selling products by 2030 and remove all pre-formed plastic packaging for its vaccines by 2027.
  • Circular Economy Principles: Embracing a circular economy approach involves designing products for reusability and recyclability, minimizing waste generation, and extending product lifecycles. Johnson & Johnson sets sights on 100% reusable, recyclable or compostable packaging by 2025 and has launched initiatives to promote a circular economy.

Sustainability Initiatives of Major Life Sciences Companies

Table 02: Sustainability initiatives of major life sciences companies

The Business Case for Sustainability: Metrics Matter

Beyond its environmental imperative, sustainability offers compelling business benefits for life sciences companies:

Figure 02: Business benefits for life sciences companies

Recommendations for a Sustainable Strategy: A Roadmap for Life Sciences Companies

The companies should develop a robust sustainability strategy to reap benefits from its sustainability initiatives while effectively managing and meeting their sustainability commitments.

Figure 03: Roadmap for sustainability strategy of life sciences companies

From Lab to Earth: Building Sustainability Across the Life Sciences Value Chain

Life sciences companies must thoroughly evaluate sustainability initiatives and options, and effectively implement the same across their value chain to not meet but exceed their sustainability commitments.

Table 03: Sustainability initiatives for life sciences companies across their value chain

Conclusion

Sustainability is not merely a choice but an imperative for the life sciences industry. By embracing environmental responsibility, ethical practices, and social equity, the sector can forge a path towards a healthier planet and prosperous future. Balancing sustainability with business objectives is not just a challenge but an opportunity to drive innovation, enhance competitiveness, and fulfill the industry’s broader mission of improving human health and well-being. As stewards of tomorrow’s health, it is incumbent upon life sciences leaders to champion sustainability at every turn, ensuring a legacy of prosperity for generations to come.

References

Sustainability
Life Sciences
Consulting

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Akhil Jishnu P
Communications & Media Industry —A Futuristic Outlook

Written by Akhil Jishnu P

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Business Consultant | Tata Consultancy Services

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