IQVIA
(NYSE:IQV), has published its 2023 Environmental, Social and Governance (ESG) Report. The annual report provides a detailed account of the organization’s focus on reducing its environmental impact and commitment to accelerating positive outcomes for public health and patients.
“At IQVIA our mission is to accelerate innovation for a healthier world. Our 87,000 healthcare focused employees integrate AI-powered analytics and healthcare expertise to solve the most complex problems for our life science, regulator and provider customers,” said Ari Bousbib, Chairman and Chief Executive Officer of IQVIA. “We are proud that we delivered on our sustainability commitments despite the tumultuous macro-environment we have been operating in.”
IQVIA’s full 2023 ESG report can be downloaded here. Below are selected highlights:
- Driving environmental change. In line with our commitment to net zero, we verified our GHG emissions reduction targets – including our net zero by 2050 target – with the Science Based Targets initiative (SBTi). We reduced our absolute scope 3 emissions by 31% and removed over 3,000 kg of single use plastics from our business. In addition, we increased the reuse of electronic devices by more than five times. In furtherance of our sustainability agenda, 13 of our labs across Europe, Asia and the U.S. have now achieved the My Green Lab certification and we continue to work with our suppliers to commit to and set SBTi targets, including mandatory training as part of their supplier agreements.
- Investing in our people. The company continued to make significant investments in its people, ensuring that they feel they are making a meaningful contribution to driving healthcare forward. 87% of employees see a clear link between their work and our shared vision, 5 points above the Fortune 500 benchmark. 79% of employees feel like they belong at the company, 3 points above the Fortune 500 benchmark, and 88% feel they are acquiring the skills they need to be successful, 7 points above the Fortune 500 benchmark.
- Advancing public health. We established our dedicated global public health business in 2023, which now works with more than 75 clients across the globe. IQVIA also worked with the Coalition for Epidemic Preparedness Innovations (CEPI) in support of its 100 Days Mission, an ambitious plan to compress vaccine development timelines to 100 days. In our work to impact patient outcomes, we partnered with the UK’s National Health Service to improve the survival rates of lung cancer patients, materially improving the speed to diagnosis. Additionally, we leveraged our unique capabilities to enroll patients from traditionally underserved populations into a trial for an RSV vaccine, enrolling 1.7 times the number of Black participants and 1.6 times the number of Hispanic participants than the customer originally planned.
- Sustaining our strong diversity and inclusion performance. As the company’s workforce has expanded to better reflect the communities we serve, we now have 90 different ethnicities represented across our employee population. 61% of our global workforce are women, 52% of our global managers are women and 40% of IQVIA’s Board of Directors are women. In the U.S. alone, almost 40% of our employees identify as minority and 44% of new hires identify as minority.
- External recognition. For the seventh year in a row, IQVIA was named one of the World’s Most Admired Companies in FORTUNE’s annual survey. For the third year in a row, IQVIA was named the number one most admired company in our category, Healthcare: Pharmacy and Other Services. In addition, IQVIA earned first place ranking in six of nine categories, including quality of management, people management, innovation, quality of products and services, global competitiveness, and use of corporate assets.
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