Variability in triple bottom line commitments of multinational pharmaceutical and cosmeceutical companies: insights from 2023 corporate and environmental, social and governance reports.

Abstract

Background: The triple bottom line is a framework for evaluating organizational performance incorporating environmental, social and economic impacts.

Objectives: To examine the triple bottom line commitments of multinational corporates operating in the dermatology field with a specific focus on environmental goals.

Methods: A convenience sample of 10 pharmaceutical and 6 cosmeceutical corporates were included in this study. We performed a retrospective secondary data analysis of their published 2023 corporate annual reports and environmental, social and governance (ESG) reports, and reviewed their commitments.

Results: All corporates except three pharmaceuticals (81%, 13/16) published a target year to reach carbon net zero or neutrality for greenhouse gas (GHG) protocol scopes 1 (direct emissions from performing its business activities) and 2 (indirect emissions from purchased energy) [median year 2040; range 2025-2050; 95% confidence interval (CI) 2035-2045]. All corporates except four pharmaceuticals (75%, 12/16) published a target year to reach carbon net zero or neutrality for GHG scope 3 (indirect emissions from the value chain; median year 2043; range 2026-2050; 95% CI 2038-2047).

Conclusions: All net zero or carbon neutrality plans identified have outlined the potential inclusion or actual utilization of carbon offsetting schemes or carbon removal schemes in achieving their goals. For cosmeceuticals, all but one corporate (83%, 5/6) participate in the EcoBeautyScore Association. This study highlighted variability in their ambitions in environmental goals.