NOVARTIS: Consistent investment in Greece in 2020 with a focus on sustainable development

The company announced its footprint in Greece, based on the latest Social Environmental Economic (SEE) Impact Valuation, as well as its ESG approach & targets for 2025-2030.
  • 4.3m people gained access to over 100 therapies; 820 patients registered in 69 clinical trials
  • >$149m contribution to the GDP of Greece in 2020*
  • 1,789 created, direct, indirect and induced jobs; 200 concern innovation-related roles
  • 60% women in managerial positions & hybrid-working model for its associates
Novartis Hellas presented the results of the 2020 21 – Social, Environmental and Economic (SEE) Impact valuation, a study undertaken by the mother company in its countries of operation, including details regarding the impact of its business activities on society and environment in Greece. The company also presented its ESG approach, progress and commitments for 2025-2030, which are integrated across the entire range of its business activities – thus enhancing sustainable development – and are aligned with the UN SDGs.

Novartis Hellas contributed $149m to the country’s GDP in 2020, while also creating approximately 1.789 direct, indirect and induced jobs. 200 of these jobs – reaching a percentage of 11% – concern innovation-related roles. Novartis invests consistently in the local economy, and the results validate its commitment to the Greek patients and society.

Susanne Kohout, President and CEO of Novartis Hellas stated: “During a remarkably challenging year, our mission to help people live longer and better lives became more relevant than ever. Despite the numerous challenges and unforeseen circumstances, in 2020 our long-standing efforts were rewarded in the best possible way, as we continued to generate value and to provide solutions, not only in favor of the Greek health ecosystem and patients, but also for the national economy, the local community and the environment “.

Novartis Hellas made significant investments in R&D and Innovation. More specifically, the company conducted 69 clinical trials, benefiting more than 800 Greek patients, and managed to provide 4,3m people with access to more than 100 treatments. The social impact that was created through the access of 1,9m people to 60 of these treatments– through the contribution of the healthy population to the country’s GDP – reached $ 657.6m, while 28.020 thousand QALYs (Quality-Adjusted Life Years) were added.

In the field of Corporate Responsibility, Novartis Hellas in 2020 focused its actions on three main areas: Diversity and Inclusion of employees, care for the environment and support of the local community. 60% of the company’s managerial positions in 2020 were held by women, while more than 33.500 hours of training were completed by its employees. The company got one step closer to reaching its goal to become carbon neutral across its supply chain by 2030, and initiated the process of renewing its corporate car fleet, with models with lower emissions and state-of-the-art technology. Moreover, the company continued the “Open Wings” initiative, focusing to the empowerment of young talents; Novartis launched an 18-month internship program within 2020 and also partnered with Found.ation, where more than 100 young graduates acquired or upgraded their digital skills.

Novartis Hellas also presented its strategic approach and commitments on ESG issues until 2030, which are primarily focused on 3 main pillars: a. Business Ethics & Corporate Governance b. Access to health c. Corporate responsibility, with emphasis on employees, the environment, patients, and the local community.

The main points of the company’s ESG strategy include:

1. Business Ethics & Corporate Governance

A. Νew Code of Ethics and Decision-making Framework co-created with associates & Established Professional Practice Policy (3P) to support ethical decision-making, based on specific principles. 100% participation of employees in relevant trainings.
B. New Third Party Risk Management Framework, incl. Human Rights Conduct. Third party risk assessment across 100% of the company’s suppliers.
C. Systematic review by BoD & Country Leadership teams. Trust & reputation to become part of leadership objectives. Bi-annual transparency reports, incl. materiality analysis etc.

2. Access to Health

A. Ensure health equity and availability of Novartis medicines when needed: Speed-up of HTA and Negotiation processes.
B. Innovative payment models especially in therapeutic areas with high unmet medical needs and large-scale diseases i.e Cv diseases.
C. Support the development of framework and solutions in Digital ecosystems (e.g. Health Data use and interoperability), with absolute respect to patients’ personal data.

3. Corporate Responsibility

A. Employees: Hybrid-working model, over 50% of women in managerial positions, parental leave regardless of gender, equal pay until 2023, over 100 hours of learning activities per employee, employee satisfaction rate> 75%.
B. Environment: Carbon, water & plastic neutral footprint by 2030. 100% Electric corporate fleet by 2030.
C. Patients: Creation of processes and mechanisms aiming to integrate the patients’ point of view across the entire range of business activities. Enhancement of collaboration with patient associations.
D. Local community: Emphasis on empowering young talents and developing a new approach for employees’ volunteering.

Foteini Bampanara, Country Head of Communications & Patient Engagement of Novartis Hellas mentioned: “At Novartis Hellas we have incorporated ESG criteria throughout our chain of operations and corporate citizenship. Through this approach, we strive to be catalyst for positive change, maximize the value we return to our people, to the Greeks patients and the society, as well as enhance trust & transparency with all our stakeholders.”.

Regarding the report

Social, Environmental and Economic (SEE) Impact valuation metrics are based on material topics identified through the Novartis materiality assessment. Through SEE methodology & results, the impact of Novartis business activities on society and environment is evaluated in monetary terms, in addition to financial performance. Articulating the impact of Novartis’s business activities on society and environment in monetary terms has elevated ESG themes across core business functions.

About Novartis

Novartis is reimagining medicine to improve and extend people’s lives. As a leading global medicines company, we use innovative science and digital technologies to create transformative treatments in areas of great medical need. In our quest to find new medicines, we consistently rank among the world’s top companies investing in research and development. Novartis products reach nearly 800 million people globally and we are finding innovative ways to expand access to our latest treatments. About 110,000 people of more than 140 nationalities work at Novartis around the world.

Article Source: Press Release