Merck presented its new sustainability strategy recently in conjunction with the announcement of the results of the third quarter of 2020.
- Integrating sustainability even more strongly into the corporate strategy
- The company is setting itself three clear goals in the areas of science & technology, value chain and climate & environment
- Contribution to achieving the United Nations Sustainable Development Goals
Merck, a leading science and technology company, presented its new sustainability strategy in conjunction with the announcement of the results of the third quarter of 2020. The company is thus integrating sustainability more strongly as an essential component of its corporate strategy.
“At Merck, scientific progress and responsible entrepreneurship have always gone hand in hand. We want to be economically successful and create value for society in all of our businesses without generating subsequent costs for society. As a global science and technology company, we can help address some of today’s greatest challenges, such as serious diseases and climate change,” explained Stefan Oschmann, Chairman of the Executive Board and CEO of Merck.
With the sustainability strategy, the company is pursuing three specific goals, which are reflected in a total of seven focus areas. Merck is implementing numerous projects and initiatives in these focus areas today and will continue to do so in the future.
Goal 1: In 2030, Merck will achieve human progress for more than one billion people through sustainable science and technology.
- Sustainable innovations and technologies for customers of Merck
- Impact of technologies and products of Merck on health and well-being
Goal 2: By 2030, the company will integrate sustainability into all its value chains.
- Sustainability culture and values
- Sustainable and transparent supply chain
- Securing the company’s social license to operate in all regions
Goal 3: By 2040, Merck will achieve climate neutrality and reduce its resource consumption.
- Climate change and emissions
- Water and resource intensity
By concentrating on these topics, Merck wants to contribute to the achievement of the United Nations Sustainable Development Goals. At the same time, Merck is integrating the topic of sustainability into its business strategies and taking the goals of the sustainability strategy into account when making business decisions. Additionally, the company is planning to link the variable pay of the Executive Board and senior management with progress made in achieving the company’s three sustainability goals.
Merck will report annually on the current implementation status of its sustainability strategy. Merck is currently defining the corresponding performance indicators and testing the internally developed method for Impact Valuation, known as Sustainable Business Value. Merck published the concept of this method in the journal “Sustainability” in October 2020.
More information about the sustainability strategy can be found here