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News & Trends - MedTech & Diagnostics

A healthcare sector gap in ESG reporting should be a wake-up call

Health Industry Hub | October 24, 2022 |

The Australian healthcare sector is one of the lower performers in environmental, social and governance (ESG) reporting, according to Australia’s peak body on climate and health, the Climate and Health Alliance (CAHA).

While ASX200 companies increasingly acknowledge ESG performance as a value driver within their businesses, the ESG Reporting Trends report revealed that out of the 14 ASX200 companies in the healthcare sector none had a ‘comprehensive’ ESG reporting rating and only 5 had a ‘detailed’ reporting rating, highlighting a sector-wide gap.

CEO of the Climate and Health Alliance, Roland Sapsford, said “The revelation that the healthcare sector is lagging behind mining companies, utilities, and real estate sectors in reporting on serious ESG risks is deeply concerning.

“We all experienced the anxiety of not knowing how supply chain disruptions could affect everyday goods during the pandemic. Many people’s health was also potentially at risk with shortages of medications highlighting how important it is for the sector to manage these risks.”

Emerging ESG trends impacting the medtech sector

Among the fourteen (14) ASX 200 companies in the healthcare sector, Ansell, Fisher & Paykel Healthcare, Nanosonics, Ramsay Health Care and Sonic Healthcare had a ‘detailed’ reporting rating – the highest rating in the healthcare sector – while the remaining none (9) companies had moderate-basic ESG reporting ratings, with three (3) companies not reporting at all.

Mr Sapsford continued “The health sector continues to operate under considerable strain, the health workforce is struggling, and we continue to face unexpected and unprecedented challenges from extreme weather conditions.

“The idea that the health sector, of all sectors, is lacking transparency around how it manages risks – whether to supply chains, workforce, the pandemic or climate change – should send shock waves through the community and lead investors to ask hard questions.”

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