Merck Reports Strong Progress in ESG Focus Areas
August 30 2022 - 04:01PM
Business Wire
- Merck Committed 91.5 Million Doses of Human Papillomavirus
(HPV) Vaccine for Use in Gavi-Supported Countries
- Developed and Executed Ground-Breaking Access Strategy to
Accelerate the Timely Distribution of the Company’s Investigational
COVID-19 Therapeutic to Governments Globally
- In 2021, >99% Pay Equity Achieved in the U.S. for Female and
Male Employees, as well as for Non-White and White Employees in
Equivalent Positions
- On Track to Achieve Carbon Neutrality Across Company Operations
by 2025 (Scope 1 & 2 emissions)
- Issued Inaugural $1 Billion Sustainability Bond
Merck (NYSE: MRK), known as MSD outside the United States and
Canada, today issued its 2021/2022 Environmental, Social and
Governance (ESG) Progress Report. The report highlights the
company’s performance and progress in its four ESG focus areas:
Access to Health, Employees, Environmental Sustainability and
Ethics & Values.
“For more than 130 years, our global team has pursued ESG
excellence. Today, our ESG approach helps propel and enable our
business strategy in ways that make us a better company — and a
better corporate citizen. To that end, ESG underpins our Corporate
Strategic Framework and every decision we make,” said Robert M.
Davis, chief executive officer and president, Merck. “We recognize
that ESG is not a destination, but instead a journey. We’re excited
and energized about the road ahead as we continue to operate on
behalf of society, shareholders and all our stakeholders to enable
a safe, sustainable and healthy future for people and communities
everywhere.”
The report reflects that Merck’s longstanding ESG commitment is
fully integrated in the company’s Corporate Strategic Framework,
which is anchored in the company’s purpose of using the power of
leading-edge science to save and improve lives around the world.
The report also reflects such milestones as the company’s December
2021 launch of its Sustainability Financing Framework to raise and
direct funds to critical ESG projects and support our overall ESG
strategy. The company’s first offering was an inaugural $1 billion
sustainability bond intended to support projects and partnerships
in our four ESG priority areas.
To further accelerate Merck’s ESG efforts, the company will also
continue its membership in the Billion Dollar Roundtable (BDR), a
leading industry organization that recognizes and celebrates
companies that achieve spending of at least $1 billion with
minority-, women-, veteran-, LGBT- and disability-owned
enterprises. Merck also hosted the most recent BDR Summit, which
provided an opportunity for companies to optimize their positive
economic impact.
Other key highlights from this year’s report include:
Access to Health:
- The company committed 91.5 million doses of its human
papillomavirus (HPV) vaccines for use in Gavi-supported countries
from 2021 to 2025 and completed expansions to its Elkton, VA,
manufacturing facility to increase capacity and supply. With plans
for additional expansions to existing and new facilities, Merck
expects supply of HPV vaccines to double between 2020 and
2023.
- In alignment with its approach to ensuring broad, equitable
access to health, the company began executing on a comprehensive
supply and access strategy early in the COVID-19 pandemic to
accelerate equitable global access to the company’s investigational
oral antiviral COVID-19 medicine.
- The company pursues programs to provide access to its medicines
and vaccines when market-based solutions are inadequate or
unavailable. For example, as the war in Ukraine continues, we’re
committed to getting life-saving support, medicines, vaccines and
supplies to those who need them most. In the first half of 2022,
Merck committed more than $93 million in essential products and
funds to ensure that refugees of Ukraine and those who remain
inside the country have access to health care.
- In addition to the billions of people Merck has reached with
innovative medicines, vaccines and access strategies throughout its
history, the company’s goal is to enable 100 million more people to
access its innovative portfolio globally through access strategies,
solutions, and partnerships by 2025.
Employees:
- In 2021, the company achieved >99% pay equity in the U.S.
for female and male employees, as well as for non-white and white
employees in equivalent positions.
- The company has set goals to increase representation in senior
management roles by 2024 and reported strong progress in 2021:
- The company increased representation of women globally to 36%,
up from 31% in 2020. By 2024, the company aims to increase
representation to 40%.
- The company increased representation of Black/African Americans
in the U.S. to 7%, up from 3% in 2020. By 2024, the company aims to
increase representation to 10%.
- The company increased representation of Hispanics/Latinos in
the U.S. to 6%, up from 5% in 2020. By 2024, the company aims to
increase representation to 10%.
Environmental Sustainability:
- Merck is on track to achieve carbon neutrality across our
operations by 2025. In 2021, with a goal of reducing its
operational greenhouse gas (GHG) emissions (Scopes 1 & 2) 46%
by 2030 from a 2019 baseline, the company achieved a 9% reduction
in Scope 1 & 2 emissions from a 2019 baseline.
- With a goal of sourcing 100% of its purchased electricity from
renewables by 2025, Merck sourced 41% of its purchased electricity
from renewables in 2021. The company continues to work toward
transitioning to renewable sources of energy to meet its 2025
renewable energy target.
Ethics & Values:
- In 2021, Merck maintained 100% compliance to regulatory
requirements for active incident monitoring, risk/harm analysis and
on-time notification of data breaches.
- The company fosters a “speak up” culture with a goal of
maintaining or exceeding its current percentage of employees
responding favorably to the “Willingness to Report” question in its
employee survey as an annual average.
Learn more about Merck’s approach to ESG, the company’s
commitment to creating value for society and all its stakeholders
and its progress on key goals in Merck’s 2021/2022 ESG Progress
Report.
About Merck
At Merck, known as MSD outside of the United States and Canada,
we are unified around our purpose: We use the power of leading-edge
science to save and improve lives around the world. For more than
130 years, we have brought hope to humanity through the development
of important medicines and vaccines. We aspire to be the premier
research-intensive biopharmaceutical company in the world – and
today, we are at the forefront of research to deliver innovative
health solutions that advance the prevention and treatment of
diseases in people and animals. We foster a diverse and inclusive
global workforce and operate responsibly every day to enable a
safe, sustainable and healthy future for all people and
communities. For more information, visit www.merck.com and connect
with us on Twitter, Facebook, Instagram, YouTube and LinkedIn.
Forward-Looking Statement of Merck & Co., Inc., Rahway,
N.J., USA
This news release of Merck & Co., Inc., Rahway, N.J., USA
(the “company”) includes “forward-looking statements” within the
meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These statements are
based upon the current beliefs and expectations of the company’s
management and are subject to significant risks and uncertainties.
There can be no guarantees with respect to pipeline candidates that
the candidates will receive the necessary regulatory approvals or
that they will prove to be commercially successful. If underlying
assumptions prove inaccurate or risks or uncertainties materialize,
actual results may differ materially from those set forth in the
forward-looking statements.
Risks and uncertainties include but are not limited to, general
industry conditions and competition; general economic factors,
including interest rate and currency exchange rate fluctuations;
the impact of the global outbreak of novel coronavirus disease
(COVID-19); the impact of pharmaceutical industry regulation and
health care legislation in the United States and internationally;
global trends toward health care cost containment; technological
advances, new products and patents attained by competitors;
challenges inherent in new product development, including obtaining
regulatory approval; the company’s ability to accurately predict
future market conditions; manufacturing difficulties or delays;
financial instability of international economies and sovereign
risk; dependence on the effectiveness of the company’s patents and
other protections for innovative products; and the exposure to
litigation, including patent litigation, and/or regulatory
actions.
The company undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future events or otherwise. Additional factors that could cause
results to differ materially from those described in the
forward-looking statements can be found in the company’s Annual
Report on Form 10-K for the year ended December 31, 2021 and the
company’s other filings with the Securities and Exchange Commission
(SEC) available at the SEC’s Internet site (www.sec.gov).
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