Mumbai, February 14, 2024: The Indian Pharmaceutical Alliance (IPA), in collaboration with Samhita Social Venture has unveiled a report titled 'Deepening the Responsible Business Agenda: Showcasing the CSR and ESG Initiatives.' The report spotlighted the positive impact of the Indian pharmaceutical sector's Corporate Social Responsibility (CSR) initiatives and its commitment to Environmental, Social, and Governance (ESG) compliance.
The report showcased the significant strides made by IPA companies in CSR engagement, with initiatives spanning social and economic development projects across 22 states, impacting over 15 million individuals. It emphasized a transformative shift towards embracing a comprehensive 'Responsible Business' framework, documenting sustainability initiatives in livelihood building, carbon neutrality, waste management, and water and energy conservation. The report also highlighted the outstanding efforts of Human Champions within 25 IPA member companies.
Speaking on the report, Mr. Sudarshan Jain, Secretary General, IPA, reiterated the commitment of IPA companies to societal well-being beyond business interests. Dr. Arunish Chawla, Secretary, Department of Pharmaceuticals, commended the CSR and ESG initiatives of IPA companies and their contributions during the COVID-19 pandemic, emphasizing the collaborative model's role in promoting positive externalities.
Dr. Chawla remarked, "IPA's commendable efforts during the challenging COVID-19 period, ensuring access to affordable medicines and the entire pharmaceutical supply chain, deserve special mention.”
The report launch was followed by a CEO Panel discussion featuring industry leaders Mr. Dilip Shanghvi (Sun Pharma), Mr. Pankaj Patel (Zydus), Mr. Satish Reddy (Dr. Reddy’s), and Dr. Nachiket Mor, moderated by Ms. Priya Naik, CEO, Samhita Social Venture. The discussion focused on deepening responsible business agendas, advocating for initiatives like Strategic Social Responsibility (SSR) and enhanced ESG compliance to align business practices with responsible conduct.
The event concluded with an address by Ms. Archana Jatkar, Associate Secretary General, IPA, highlighting the significance of the report as a benchmark for purpose-driven organizations aiming to make positive societal contributions.
