Mumbai, Aug 5, 2024: Women make up 70.2% of Parexel's workforce, including 45.6% of all employees at vice president-level and above, setting a benchmark for gender representation in the industry, according to the clinical research organization’s 2023 Environmental, Social, and Governance (ESG) report.
"Our ESG progress in 2023 reflects our ongoing commitment to making a positive impact on the world around us by integrating sustainable, ethical practices into and across our business and our care for patients to transform the future of medicine,” said Peyton Howell, Chief Executive Officer.
“I’d like to thank our team for their dedication to ensuring this progress continues. We recognize that sustainability is a journey, not an endpoint, and as a team, each of us at Parexel remains committed to using our resources to not only meet but exceed our ESG goals in pursuit of creating a healthier planet and improving the lives of the patients we serve,” the CEO said.
The report said Parexel’s diverse global workforce fuels creativity and innovation to better address complex challenges and push the boundaries. In 2023, women represented 70.2% of Parexel’s workforce, including 45.6% of all employees at Vice President-level and above.
Parexel fosters an environment where everyone feels empowered to contribute to the company’s success, and the company’s Talent Philosophy is designed to support colleagues globally in realizing their full potential across all stages of their career. In 2023, Parexel launched its Managers Matter initiative, designed to engage, inform and inspire the company’s 2,300 Line Managers with comprehensive support and resources to develop and lead their teams.
In recognition of these and many other Diversity, Equity and Inclusion (DEI) efforts, Parexel joined DisabilityIN as a corporate partner and participated in their global disability inclusion index pilot and the Human Rights Campaign’s 2023 Corporate Equality Index. The company also won the Healthcare Businesswomen’s Association 2023 ACE Award for its work advancing women in leadership.
According to the report, Parexel is consistently looking for ways to reduce its environmental footprint while increasing operational excellence across its business and has made progress toward its ambitious environmental goals. In 2024, Parexel submitted science-based emission reduction targets for validation with the Science Based Target initiative (SBTi), setting a pathway to achieve net-zero value chain greenhouse gas (GHG) emissions (Scopes 1, 2, and 3) by 2050.
The company continues to ensure it is reducing emissions by enhancing energy efficiency in buildings and counterbalancing emissions produced by our fleet of vehicles and our third-party providers. Parexel made this a priority focus in 2023 and for the second consecutive year it achieved a 100% renewable energy goal to counterbalance all Scope 2 emissions.
Parexel also participated in the EcoVadis assessment process for the ninth consecutive year, increasing its score to 60 points from 58 points in 2022 and maintaining its Silver rating and ranking in the top quartile of companies for the second straight year. The accomplishments of its environmental program place Parexel in the top 7% of organizations in the scientific research and development category and its sustainable procurement program ranks us in the top 1% in the field.
Through its collaborations with patient advocacy and social organizations around the world, Parexel continues to provide education, drive awareness and reduce barriers to participation through the design of inclusive clinical trials with its partners for all study phases.
In 2023, Parexel engaged with more than 75 patient advocacy groups around the world to support the needs of patient communities and elevate awareness of clinical trials. The company continuously refines its approach to support patients holistically, especially in populations that have been historically underrepresented as the industry adapts to a changing regulatory environment.
The report said Parexel leads with its core values – Patients First, Quality, Respect and Empowerment and Accountability – and conducts businesses with honesty, integrity and respect. An important element of the company’s commitment to these standards is its compliance program.
In 2023, Parexel established principles for responsible Artificial Intelligence (AI) and has created a robust governance structure with the creation of its AI Steering Committee to ensure safety, efficiency and regulatory compliance in the use of this technology.
The company has also introduced the Parexel Precision Pathway, reinforcing its commitment to product quality and safety. This end-to-end operational approach is designed to prioritize the timely delivery of clean data while enhancing efficiency, quality and predictability.
