Science and Sustainability: Life Sciences' Eco-Friendly Evolution

Global health is forever intertwined with the environment, and with extreme heat, air pollution and changing weather patterns casting a growing shadow, the grasp of climate change is reshaping our lives in growing and overwhelming ways.

As it becomes more and more of a worry, many businesses are turning their hand to 'green' initiatives, recognizing the need for change and taking bold steps to become more environmentally conscious in their operations.

For Life Sciences though, this concept is all the more tricky...

See, our industry has a tremendous social impact, which means (up until now) we've always existed in our own separate kind of bubble, with the colossal environmental impact of the industry, such as waste, energy, and water consumption, generally being overlooked.

Today, however, we're at a turning point.

Let's dive into how Life Sciences is embracing sustainability by transforming its own landscape to have an even greater impact on our future.

First, let's take a look at how the industry is weaving sustainability strategies into the fabric of its existence with regard to the planet, the people and profits.

• The Planet

When it comes to the Life Sciences ecosystem, unsustainable practices emerge at the R&D stage, continue through the manufacturing stage, and are still apparent in the supply chain.

Now, however, with increasing emphasis on the climate crisis, progressive pledges are being made with the ambition of reaching either carbon neutral or carbon zero status.

Notably, ISPE (International Society for Pharmaceutical Engineering) is working as a catalyst, actively promoting sustainable actions by offering strategic guidance on environmental policymaking and honoring the achievements of those making a difference.

• The People

As the Life Sciences industry matures, an influx of youthful talent is bringing along a heightened awareness of environmental and social obligations.

In response, industry trailblazers are designing innovative models and robust sustainability initiatives, not only to create value for their stakeholders but also to boost brand trust and attract and retain top-tier talent.

But it's not just attracting Life Sciences talent that the industry needs to think about...

Investors are now too homing in on differentiating green strategies, tracking ESG excellence and aligning it with improved financial performances. This symbiotic relationship only underscores the influence of sustainability as a bedrock business strategy, driving innovation and loyalty from employees, investors, customers and suppliers.

• The Profit

In the symphony of business, every not bears a price, and sustainability is no exception.

That's because businesses are leveraging their sustainability blueprints to drive long-term value creation, revenue expansion and operational efficiency. And this manoeuvre not only resonates with conscious consumers but also with one crucial audience: investors.

The issue with this approach is that businesses are prone to handpicking metrics to showcase their sustainability initiatives in the most flattering light.

Fortunately, EY has stepped in to refine and value metrics for the industry as a whole, creating a standardized public measure so companies and investors can gain clarity on how different organizations truly compare in their environmental impacts.

To dig deeper into the steps the industry is taking to be more environmentally conscious, click here

And now for the headlines…

In more recent industry updates, it's been said that Life Sciences – in particular regulatory agencies – are utilizing blockchain to further the sector's sustainability advancements.

The blockchain technology is able to trace entire supply chains on one single platform to address challenges and improve sourcing and recycling practices so businesses can monitor their activities, verify their sustainability achievement claims and track potential for future improvements.

Not only does this help companies reach their green goals, it also empowers consumers to trust what and who their buying from.

With the stage set, this new technology will bring multiple models to one platform, creating a trusted sustainability index that’s transparent and traceable, allowing each stakeholder to make informed decisions on if they want to continue using suppliers, manufacturers and organizations with a low sustainability score.

Learn more about how blockchain technology is creating a greener ecosystem in Life Sciences

Just earlier this summer, over 2,000 global science leaders from 40 different countries met in Paris. The occasion? HFSPO’s Fundamental Life Science Meets Climate, Environment, and Sustainability Summit.

And what a meeting it was! A whole new approach was crafted, bringing together scientific expertise and government officials to construct a new and robust global sustainability agenda.

With five key objectives outlined, each party, with their specialist knowledge, will play a key role in forging policies and safeguards to solve expanding global challenges and protect the future of humanity.

So what’s the role of Life Scientists, I hear you ask?

Essentially, Life Scientists will play a vital role in securing our future by informing governments and advising global solutions for the challenges we’re facing.

They’ll use their knowledge and resources to provide invaluable research findings, looking at the true impact living organisms have on the Earth. But that’s not all… they’ll also collaborate with other parties to find engineering opportunities for food security and renewable energy and inform future policymaking.

Find out the next steps in leveraging science into the worldwide sustainability strategy

If we pause and think about what’s always been and continues to be at the core of Life Sciences, it is to address and improve health concerns within our communities.

The environment is very much linked to our health and has been since the moment we first set foot on the planet. It's our duty to recognize that sustainability is central to the work we do. Emphasizing that will only create meaningful change and protect the long-term future of the sector.

With that in mind, think about how your drive and purpose as a Life Sciences professional is impacted by your employer's ESG commitments.

Let's catch up again soon!

The Meet Team