ESG is accelerating in relevance and prominence as a critical metric for active investors, and ESG is widely considered a growth opportunity for companies to build resilience to business disruptions. This is not a ‘check the box’ task, rather a strategic opportunity for companies within the life science sector. Biotech and pharmaceutical companies are placing more emphasis on social and governance pillars. As the SEC aims to drive progress, new disclosures for climate change, board diversity and human capital will raise the bar for financial reporting. ESG and financial performance are not mutually exclusive; Finance and Accounting leaders are actively developing new processes, controls and systems to capture needed ESG data.
This industry benchmarking report (generated during the Life Sciences Accounting & Reporting Congress, August 2021) illustrates company priorities and challenges, as they relate to Environmental, Social, Governance, Diversity and Inclusion commitments.
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