Sustainability Plan

The Sustainability Plan is the tool used to share the Group’s future trajectory with its stakeholders: it represents an expression of the ambitions of the Recordati group and the commitments it wishes to prioritise in order to promote sustainable and responsible growth.

Growth and achievement of challenging business and sustainability goals are not incompatible: on the contrary, Recordati is convinced that responsible actions and the generation of shared value contribute to the long-term success of the Company.

Improving people’s health and quality of life is the basis of our mission: it is part of our DNA. Recordati’s People have always given their utmost every day to pursue this goal.

As emphasised by the World Health Organization (WHO), health is not merely the absence of disease or infirmity, but a state of complete physical, mental and social well-being. To improve health, it is therefore necessary to intervene on a number of determining factors, such as the social, physical and economic conditions under which people are born, live and work, including healthcare systems. In this context, in addition to institutions and governments, pharmaceutical companies must also develop strategies for the improvement of the healthcare system, in terms of availability, accessibility and quality of healthcare structures and the goods and services provided.

We are living in a rapidly changing world that often raises concerns about sustainability for future generations. The current scenario in which we live has led us to reflect deeply on the relationship between humanity and nature and on the importance of an overall balance: the well-being and health of people and the health of the planet are closely connected. We cannot be healthy in an unhealthy environment and with no health there is no wealth and no social equity.

With this systemic approach and in accordance with the 2030 Agenda for Sustainable Development priorities, we wish to contribute to supporting global development, promoting human well-being and protecting the environment.

 

We want to continue to do our part.

Patient Care

Our ambition We are open to partnering and dedicated to discovering and developing innovative, value-added products that improve quality of life and help people to enjoy longer, healthier and more productive lives. We wish to offer our patients fast, widespread and sustainable access to our products.

People Care

Our ambition We are committed to creating a safe and inclusive working environment where everyone can express their talents. Our Employees are our most important asset and, therefore, we recognise and value the role that each person plays in the success of our business. We aim to create shared value and positively contribute to sustainable development where we operate, aware of the importance of dialogue, collaboration and respect for the community.

Environmental Protection

Our ambition Improving human health is the cornerstone of our mission, but we are aware that the health and well-being of present and future generations and the health of our planet are closely interlinked. With this in mind, we want to take conscious action by working to preserve natural resources and biodiversity and contribute to the fight against climate change by minimising our environmental impact.

Responsible Sourcing

Our ambition We want to build relationships based on transparency and trust, sharing our values with suppliers and strategic partners. We are committed to constantly promoting respect for ethical, environmental and social aspects along the entire value chain.

Ethics and Integrity

Our ambition Integrity is our founding value, and we lead by example.


The principles of honesty and transparency towards our Shareholders
and Stakeholders guide our daily actions.

The Sustainability Plan, defined in accordance with the materiality analysis, also highlights the contribution to the achievement of 10 of the 17 Sustainable Development Goals (SDGs) of the 2030 Agenda, the common goals signed by UN member states that outline a path of collaboration and responsibility to confront today’s complex challenges.

The objectives of the CEO’s Group Short-Term Incentive (STI) Plan include the key social and environmental targets defined in the Sustainability Plan. Furthermore, responsibility for the achievement of the goals included in the Sustainability Plan is assigned to the representatives of the various departments involved, who have the resources, tools and know-how required for their implementation. The Group Short-Term Incentive Plan integrates social and environmental objectives associated with the implementation of the Plan itself which are assigned to certain key management figures.

Ethics and Integrity – Future Targets [SDG 16]

Business ethics, integrity and anti-corruption

  • Continue to maintain 100% of Group employees involved in a training programme on ethics, anti-corruption, and anti-bribery topics by extending the training to all new employees (2024)
  • Continue to maintain 100% of Group employees involved in a training programme on sexual harassment by extending the training to all new employees (2024)

Patient Care – Future Targets [SDGs 3 – 9]1

Access to medicine and healthcare

Recordati believes that every single patient should have access to the best possible treatment.

In the field of rare diseases, the Group is committed to:

  • continuing with Patient Assistance Program (PAP), Co-Pay Assistance Program (CAP) or similar programs aimed at providing assistance
  • to patients who are eligible to receive financial support for products (2024)
  • continuing to work closely with rare-disease communities (including doctors, healthcare professionals, patients groups and families) to increase awareness, facilitate improved diagnosis and expand availability of treatments for people with rare diseases (2024)
  • expanding into China to allow Chinese patients to have access and benefit (2024)
  • continuing to expand rare disease and orphan drugs innovation pipeline and R&D of new therapies (2024). Main  activities:

•    Pasireotide Ph2 in Post Bariatric Hypoglycemia

•    REC 0559 in Neurotrophic Keratitis

•    Dinutuximab beta in Neuroblastoma in US

•    FDA feedback on Isturisa US label extension in Cushing’s Syndrome

 

In the context of the Specialty & Primary Care Division, the Group is committed to:

  • Continuing to invest in our plant in Tunisia to be able to continue providing high-quality and affordable products servicing a broad range of therapeutic areas including low- and middle-income Countries (Tunisia and Sub-Saharan Africa) (2024)

Continue initiatives of product donations to support disadvantaged people (2024).

 

1.The table relating to the Group’s commitments to its patients shows only some of the targets. Commitments regarding quality, product safety, research and development, etc. are intrinsically related to the business and are thus ongoing. More details on the Group’s development plans are included in the Financial Statements.

People Care – Future Targets [SDGs 3 – 4 – 5 – 8]

Diversity and equal opportunities

  • Increase the percentage of women in Top and Senior Manager positions to 38% by 2028 (31% in 2023)
  • Definition of the Group’s D&I policy (2024)
  • Signing of the EU Diversity Charters in the main countries where the Group operates (2024)
  • Kicking-off a global D&I network for Group employees to help drive the D&I agenda (2024)

Engagement

  • Continue to seek employee feedback: launch the second People Engagement Survey to all employees (2025)

Talent attraction and development

  • Strengthen training activities by continuing to offer to all employees* an international e-learning platform with over 18,000 courses available (2024)

Support for local communities

  • Continue to support communities through donations and other initiatives (including for example employee volunteer activities) (2024)

*All employees provided with a company email address.

Environmental Protection – Future Targets [SDGs 6 – 7 – 9 –12 –13]

Climate action – renewable energy initiatives

  • Increase of renewable energy installed power capacity to 11,000 kWp by 2026 (386 kWp in 2022).
    In addition to the solar panels installed at the Spanish and Irish plants in 2022 (installed power capacity of 386 kWp), the Group aims to install new renewable energy production systems at the Italian (Campoverde), Spanish (extension), Tunisian and Turkish plants reaching 11,000 kWp by 2026* (800 kWp in 2024; 5,600 kWp in 2025; 11,000 kWp in 2026)
  • Scope 3 emissions calculation (2024)

*Corresponding to a theoretical generation capacity of approximately 15.1 GWh (around 26% of total Group electricity consumption in FY23, including self-generated electricity from the Campoverde co-generator used internally).

 

Climate action – other initiatives

  • Continue the Group’s forestation efforts, reaching 24,000 trees planted by the end of the period 2021-2024 (corresponding to approximately 5 trees per employee).
    In addition to the 14,000 already planted in Italy and Tunisia in the three-year period 2021-2023, planting of a further 10,000 is planned in Türkiye by 2024.

Responsible waste management and circular economy initiatives

  • Continue with the analysis of possible new initiatives for the recovery and reuse of chemical raw materials used in production processes (2024-2025)*
  • Continue with the analysis of possible packaging solutions with lower environmental impact (2024-2025)

*The recovered raw materials may be reintroduced into internal production processes or through partnership agreements with third-party companies

Responsible Sourcing – Future Targets [SDGs 8 – 9– 12– 13]

Promote a responsible supply chain

  • Continue to expand the monitoring of suppliers on ESG aspects through audits (desk audits) by an independent third party. In addition to 115 audits performed during 2022-2023, the Group aims to perform 150 Supplier Sustainability Audits by 2026, conducting 50 ESG audits per year (2024-2026)*
  • Continue with engagement initiatives for suppliers that received lower scores in the previous year’s assessment to promote and increase awareness of the ESG aspects (2024)

*Including max 30% follow-up audits vs each previous year. The audits include suppliers from the main and most strategic product categories, including suppliers of finished products (Contract Manufacturing Organisations – CMOs), raw materials, packaging, industrial services, logistics, and other services


For more information, please refer to the

Consolidated Non-Financial Statements

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