Hyderabad, December 15, 2023: Dr. Reddy’s Laboratories Ltd., a global pharmaceutical company, has achieved significant milestones in global sustainability recognitions. In a first for the Indian pharmaceutical sector, Dr. Reddy’s has secured a place in the prestigious Dow Jones Sustainability World Index (DJSI World) for 2023. Simultaneously, the company maintains its position in the Dow Jones Sustainability Index for Emerging Markets (DJSI EM) for the 8th consecutive year. These recognitions are based on Dr. Reddy’s performance in the Standard & Poor Global Corporate Sustainability Assessment (S&P Global CSA).
Scoring 77 out of 100 in the 2023 S&P Global CSA, Dr. Reddy’s achieved full scores in crucial categories like Innovation Management, Impact on Access to Healthcare, Climate Risk Management, and Resource Efficiency and Circularity. The company's performance in the Pharmaceuticals Industry within the S&P Global CSA positioned it in the top decile percentile, claiming the sixth highest score out of 347 assessed companies. Dr. Reddy’s S&P Global ESG score, evaluating its management of material ESG risks, opportunities, and impact, is an impressive 78 out of 100.
Separately, Dr. Reddy’s has been honored with the ‘Gold Medal’ status by EcoVadis, a global sustainability ratings agency. Scoring 70 out of 100 in its 2023 scorecard, Dr. Reddy’s is recognized among the top 5 percent of companies assessed by EcoVadis. The agency's methodology is grounded in international sustainability standards, covering indicators across Environment, Labor& Human Rights, Ethics, and Sustainable Procurement.
G V Prasad, Co-Chairman & Managing Director, Dr. Reddy’s, said: “As a company with over two decades of experience in sustainability, we see it as our responsibility to set the bar high. Going beyond environment, we have set ourselves ambitious and measurable goals for patients, employees and governance. The distinctive aspect of our approach is that our sustainability agenda is now embedded in business. These prestigious global recognitions, the strong year-on-year improvement in our performance, and our elevation to the World Index of the DJSI are a reflection of our bold goals and the progress we have been making in meeting them.”
In an additional noteworthy initiative, Dr. Reddy’s recently became the first Indian pharma company to join the World Economic Forum’s (WEF) 1t.org community. The company pledged towards an integrated plantation initiative spanning 2,900 hectares by 2028, covering mangroves, agroforestry, and coastal bund plantations. The initiative, titled “Rooting Resilience: Cultivating Mangroves and Agroforestry Across 2900 Hectares for a Sustainable Future,” reflects Dr. Reddy’s commitment to a comprehensive approach benefiting both nature and the climate.
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