Cipla wins Frost -; Sullivan and TERI's Sustainability 4.0 Award 2021 as "Challenger in Mega Large Business Pharma Sector"

13 Jan 2022 , 11:32 AM

Cipla Limited on Thursday has announced that it has been awarded winner as a “Challenger in Mega Large Business Pharma Sector” by Frost & Sullivan and TERI’s Sustainability 4.0 Awards.

The award is a testimony to Cipla’s continuous efforts in the Environment, Social & Governance (ESG) space as a leader in the pharma industry. The company has been selected from a list of 50 reputed companies nominated for this award.

A joint initiative by Frost & Sullivan and TERI, the Sustainability Awards in its 12th edition evaluated companies from several sectors to understand the linkages between an organization’s strategy, governance & financial performance and the social, environmental & economic context within which it operates.

The companies were evaluated via a comprehensive, in-depth assessment process that included a sustainability framework of 300 points each for — Purpose, Partnership, Planet and People. In this edition of the awards, the assessment also included ‘Sustainability Analytics’ to evaluate how companies are effectively using analytics in their sustainability management. It assessed the existing maturity of companies in three aspects mainly — Effective Data Collection, Usage of Smart Analytical Tools, and End-to-End Visibility in the value chain.

Sharing her thoughts on this award, Geena Malhotra, Global Chief Technology Officer at Cipla said, “We are humbled to have been selected amongst well-known companies across pharma sector for this coveted award. Sustainability is at the core of Cipla and it brings us immense pride to see that our efforts and commitment towards the Company’s sustainability agenda is being recognized.

We have miles to go in this journey that we have embarked upon, however, since the start we have aimed to be purposeful in all our endeavors. This recognition is reflective of the combined efforts put together by several teams that are working on the environmental, social and governance aspects of our goals. We will always continue to contribute to the Sustainable Development Goals (SDGs) through products, processes and philanthropic activities that place our stakeholders at the heart of value creation.”

Recently, Cipla was also ranked one of the most sustainable healthcare companies in the Dow Jones Sustainability Emerging Markets Index. With the aim of reaching non-fossil fuel share of 40% by 2030, in January 2021, Cipla became the first pharmaceutical company in Maharashtra to invest in group captive open access solar power project of 30 MW capacity, spread across 115 acres.

This has contributed to Cipla’s decarbonizing goals, with the company now sourcing ~25% of its energy from renewable sources in the current year. Additionally, Cipla is also a constituent of the MSCI All Country World Index (ACWI) and has an ESG Rating of BB; as well as a constituent of FTSE4Good Index Series for the three consecutive years.

At around 10:56 AM, Cipla was trading at Rs923.90 per piece up by Rs17.05 or 1.88% on the BSE.