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Pfizer spotlights ‘being a good corporate citizen’ in its 175th year of operations

Health Industry Hub | March 27, 2024 |

ESG: In its latest Impact Report, Pfizer has highlighted the company’s multifaceted approach to reducing its environmental footprint, promoting social wellbeing, and upholding strong governance standards.

“As Pfizer embarks on our 175th year of operations as one of the world’s most trusted and innovative healthcare companies, we are determined to outdo yesterday by remaining committed not only to advancing our purpose, but to being a good corporate citizen,” stated Dr Albert Bourla, Pfizer’s Chairman and CEO.

Anne Harris, Managing Director of Pfizer Australia & New Zealand, expressed pride in the company’s dedication to addressing societal challenges locally.

“I am proud of Pfizer’s commitment to tackling the challenges that face our society through initiatives that support a number of underserved and vulnerable communities around the world.”

She added “Locally, our employees embody the organisation’s values of excellence, equity, courage and joy, by participating in volunteering opportunities, fundraising activities and partnerships with our charities of choice, including The Smith Family in Australia. We also remain committed to our reconciliation journey of cultural awareness and have been investing deliberately in community programs that help close the gap.”

In the fiscal year of 2023, Pfizer announced global revenues of $58.5 billion. This figure represents an operational decline of 41% compared to the previous year, largely attributable to a significant reduction in revenues from its COVID-19 products. However, when excluding the revenues generated from these products, the company achieved a 7% operational revenue growth, aligning with its projections for non-COVID-19 product revenues. This included approximately $120 million in revenue from Seagen, following its acquisition in December.

In addition to expanding access to medicines, and creating opportunities to advance DE&I, Pfizer emphasised its efforts to reduce its environmental footprint and contribute to a healthier planet.

The company achieved a milestone in 2023, with a 13.9% reduction in Scope 1 & 2 Greenhouse Gas (GHG) emissions compared to the 2019 baseline. This reduction aligns with Pfizer’s ambitious goal of reaching the Net Zero Standard by 2040 and decrease its company GHG emissions by 95% and its value chain emissions by 90% from 2019 levels.

“We take seriously our obligation to conduct ourselves in a way that makes the world a better place. Discovering, manufacturing, and delivering innovative vaccines and medicines is only part of what we contribute to society,” highlighted Dr Bourla. “This Impact Report and our accomplishments give me great pride. I am excited about what we will accomplish going forward.”

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