Ferrer Allocates, on Average, More Than 40% of its Profits to Social and Environmental Projects for the Third Consecutive Year
Ferrer's 2022 Sustainability Report front page (Photo: Ferrer)
BARCELONA, SPAIN--(Business Wire / Korea Newswire)--The pharmaceutical company Ferrer, certified as a B Corp in 2022, has again shown that there is another way of doing business, with an ethical business approach that contributes to a better society. Over the past three years, Ferrer has allocated over 40% on average of its net profits to various social and environmental projects aimed at creating a fairer and more equitable society. As stated in the company’s Sustainability Report, in 2022, 47% of profits were reinvested, carrying out the company's commitment to making a positive impact in society.
“As a company, we have an obligation and responsibility to put business profitability and social benefit on an equal footing. We believe that the pharmaceutical business is not an end in itself, but a means to generate substantial social change. We are aware that we still have a long way to go, but we want to encourage other companies to follow the same path,” says Mario Rovirosa, Ferrer’s CEO.
To inspire other companies and extend the positive impact beyond Ferrer itself, various initiatives have been launched involving business partners, suppliers and other companies. The Suppliers for Good program is an example in which Ferrer aims to support and guide its suppliers in improving their Environmental, Social and Governance (ESG) practices. An ESG evaluation process for suppliers was launched, and by 2022, 320 suppliers had already been evaluated through the Ecovadis platform, including nearly 50% of suppliers identified as significant. As a result, in 2022 the company was recognized as a leader in Carbon Disclosure Project Supplier Engagement. As a further consequence of this initiative, Ferrer has been certified EcoVadis Gold.
A similar project has also been launched to involve business partners, called Partners for Good. The project consists of evaluating and promoting environmental, social and corporate governance performance among selected partners and defining actions to support and involve them in making a positive impact in society.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230728150654/en/
Tel.: +34 936 003 779
This is a news release distributed by Korea Newswire on behalf of this company.