Company also secures ‘Gold Medal’ status
from global sustainability ratings agency, EcoVadis
- In a first for Indian pharma, Dr. Reddy’s is featured in the
Dow Jones Sustainability World Index for 2023
- Company retains its place in the Dow Jones Sustainability
Emerging Markets Index for the 8th year in a row
- Separately, the global sustainability ratings agency EcoVadis
has awarded ‘Gold Medal’ status to Dr. Reddy’s for ranking among
the top 5 percent of companies assessed by it
- Alongside these two recognitions, Dr. Reddy’s also became the
first Indian pharma company to pledge towards an integrated
plantation initiative covering 2,900 hectares by 2028 as part of
the World Economic Forum’s 1t.org
Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE:
RDY, NSEIFSC: DRREDDY; hereafter referred to as “Dr. Reddy’s”), a
global pharmaceutical company, has won back-to-back global
recognitions for its commitment and progress on sustainability and
Environment Social and Governance (ESG) agenda.
Dr. Reddy’s has become the first Indian pharma company to
earn a place in the Standard & Poor Dow Jones Sustainability
World Index (DJSI World) for 2023. Alongside its debut in DJSI
World, the company retains its place in the Dow Jones
Sustainability Index for Emerging Markets (DJSI EM) for the 8th
year in a row. The DJSI recognitions are based on Dr. Reddy’s
performance in the Standard & Poor Global Corporate
Sustainability Assessment (S&P Global CSA) and additional
screening criteria. Dr. Reddy’s scored 77 out of 100 in the 2023
S&P Global CSA1, achieving full scores in Innovation
Management, Impact on Access to Healthcare, Climate Risk
Management, and Resource Efficiency and Circularity. The company
ranked in the top decile percentile and achieved the sixth highest
score out of 347 companies assessed in the Pharmaceuticals Industry
in the S&P Global CSA. Dr. Reddy’s S&P Global ESG score,
measuring the company's performance on and management of material
ESG risks, opportunities and impact, is 78 out of 100.
Separately, Dr. Reddy’s has been awarded ‘Gold Medal’ status
by EcoVadis, the global sustainability ratings agency, for its
score of 70 out of 100 in its scorecard for 2023. EcoVadis
methodology is built on international sustainability standards,
including the Global Reporting Initiative (GRI), the United Nations
Global Compact (UNGC), and the ISO 26000. The Sustainability
Scorecard of EcoVadis measures performance across 21 indicators in
four themes: Environment, Labor & Human Rights, Ethics and
Sustainable Procurement. The ‘Gold Medal’ status positions Dr.
Reddy’s among the top 5 percent of companies assessed by
EcoVadis.
G V Prasad, Co-Chairman & Managing Director, Dr.
Reddy’s, said: “As a company with over two decades of
experience in sustainability, we see it as our responsibility to
set the bar high. Going beyond environment, we have set ourselves
ambitious and measurable goals for patients, employees and
governance. The distinctive aspect of our approach is that our
sustainability agenda is now embedded in business. These
prestigious global recognitions, the strong year-on-year
improvement in our performance, and our elevation to the World
Index of the DJSI are a reflection of our bold goals and the
progress we have been making in meeting them.”
In addition to the global recognitions, Dr. Reddy’s recently
became the first Indian pharma company to join the World Economic
Forum’s (WEF) 1t.org community and pledged towards an integrated
plantation initiative covering 2,900 hectares by 2028. The
pledge overview of Dr. Reddy’s is “Rooting Resilience: Cultivating
Mangroves and Agroforestry Across 2900 Hectares for a Sustainable
Future”. The integrated plantation initiative will cover 500
hectares of mangrove, 2,000 hectares of agroforestry, and 400
hectares of coastal bund plantations by 2028, offering a
comprehensive approach that benefits both nature and the
climate.
To read more about S&P DJSI and its methodology, please
visit
https://www.spglobal.com/spdji/en/indices/esg/dow-jones-sustainability-world-index/
To read more about EcoVadis and its methodology, please visit:
https://ecovadis.com/about-us/
To read more about the World Economic Forum’s 1t.org, please
visit: https://www.1t.org/pledges/rooting-resilience/
To learn more about Dr. Reddy’s ESG goals, please visit:
https://drreddys.com/business-responsibility-and-sustainability#esg-goals
About Dr. Reddy’s: Dr. Reddy’s Laboratories Ltd. (BSE:
500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY) is a global
pharmaceutical company headquartered in Hyderabad, India.
Established in 1984, we are committed to providing access to
affordable and innovative medicines. Driven by our purpose of ‘Good
Health Can’t Wait’, we offer a portfolio of products and services
including APIs, generics, branded generics, biosimilars and OTC.
Our major therapeutic areas of focus are gastrointestinal,
cardiovascular, diabetology, oncology, pain management and
dermatology. Our major markets include – USA, India, Russia &
CIS countries, China, Brazil and Europe. As a company with a
history of deep science that has led to several industry firsts, we
continue to plan ahead and invest in businesses of the future. As
an early adopter of sustainability and ESG actions, we released our
first Sustainability Report in 2004. Our current ESG goals aim to
set the bar high in environmental stewardship; access and
affordability for patients; diversity; and governance. For more
information, log on to: www.drreddys.com.
Disclaimer: This press release may include statements of future
expectations and other forward-looking statements that are based on
the management’s current views and assumptions and involve known or
unknown risks and uncertainties that could cause actual results,
performance or events to differ materially from those expressed or
implied in such statements. In addition to statements which are
forward-looking by reason of context, the words "may", "will",
"should", "expects", "plans", "intends", "anticipates", "believes",
"estimates", "predicts", "potential", or "continue" and similar
expressions identify forward-looking statements. Actual results,
performance or events may differ materially from those in such
statements due to without limitation, (i) general economic
conditions such as performance of financial markets, credit
defaults , currency exchange rates, interest rates, persistency
levels and frequency / severity of insured loss events, (ii)
mortality and morbidity levels and trends, (iii) changing levels of
competition and general competitive factors, (iv) changes in laws
and regulations and in the policies of central banks and/or
governments, (v) the impact of acquisitions or reorganization,
including related integration issues, and (vi) the susceptibility
of our industry and the markets addressed by our, and our
customers’, products and services to economic downturns as a result
of natural disasters, epidemics, pandemics or other widespread
illness, including coronavirus (or COVID-19), and (vii) other risks
and uncertainties identified in our public filings with the
Securities and Exchange Commission, including those listed under
the "Risk Factors" and "Forward-Looking Statements" sections of our
Annual Report on Form 20-F for the year ended March 31, 2023. The
company assumes no obligation to update any information contained
herein.
1 As of October 27, 2023
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