New Delhi, July 16, 2025: Aspire Impact, in collaboration with Aspire Circle, has launched India’s first dedicated Environmental, Social, and Governance (ESG) Performance Framework for the Healthcare and Pharmaceutical sectors. Developed as part of the Capgemini-supported Impact Future Project, the framework was unveiled in New Delhi by 15 co-authors and industry leaders from organisations including Fortis, Apollo, Cipla, Zydus, Redcliffe Labs, Sun Pharma, and multiple healthcare-focused investment firms.
Titled Healthcare: An ESG Performance Framework, the new research publication introduces 107 indicators—80 sector-agnostic and 27 specific to healthcare—to help companies assess ESG risks such as biomedical waste, antimicrobial resistance, and access to care, while also identifying opportunities in areas like digital health and affordable medicine. The framework distinguishes between risks and opportunities, offering a clearer, more actionable view of ESG performance.
Amit Bhatia, Founder of Aspire Impact and Aspire Circle, said, “India’s $310 billion Healthcare & Pharma sector (2023), can lead the world not just in treating illnesses, but also in addressing social & environmental risks and opportunities. Our ESG framework, with two innovations—separate Risk & Opportunity ratings, and both sector-agnostic + sector-specific KPIs—measures and compares organizations vis-à-vis peers to inspire a more ethical, inclusive, and sustainable pharma and healthcare sector.”
The healthcare sector in India, serving 1.4 billion people, is projected to reach USD 596 billion by 2025, yet it constitutes only 6% of the total market capitalization of the top 1,000 NSE-listed companies. With more than 7.5 million employees, the sector spans hospitals, pharmaceuticals, diagnostics, med-tech, and biotech—making robust ESG integration a growing necessity.
Anurag Pratap, CSR Leader at Capgemini in India, remarked, “India’s healthcare sector is growing rapidly, but growth without responsibility is a missed opportunity. This framework brings clarity to ESG efforts and enables institutions to align patient care with climate action, equitable access, and long-term resilience.”
The report outlines sector-specific ESG concerns including climate vulnerability, supply chain fragility, workforce burnout, and rising data privacy risks. It also highlights opportunities such as renewable energy use, circular packaging models, and expanding access through government health schemes like Ayushman Bharat and Jan Aushadhi.
Rahul Agarwal, Partner at HealthQuad, added, “For investors and operators alike, this framework fills a critical gap. It moves us beyond broad sustainability claims to specific, measurable benchmarks. It empowers the entire ecosystem to act with greater confidence and accountability.”
This framework marks the third publication in a 12-part ESG sectoral series by Aspire Impact. Previous editions covered core ESG KPIs and the financial services sector. Aspire also plans to expand access through its SaaS platform, IKOOWorld, enabling self- or assured ESG assessments for companies and institutions.
The launch was supported by Quadria Capital and HealthQuad and attended by representatives from Tata Capital Healthcare Fund, Apollo Hospitals, Sun Pharma, and Nutriwel Health India, among others.
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