Our Environmental, Social and Governance (ESG) Initiatives
For PureTech, Environmental, Social and Governance (ESG) means building and maintaining a sustainable business so that we can deliver on our mission to to improve the lives of patients with devastating diseases. It is the hard work and commitment of our internal and external stakeholders that makes the achievement of our mission possible.
We recognize the importance of good governance in delivering ESG outcomes and, accordingly, our ESG program is overseen by our ESG Committee, which guides our approach and serves as an internal champion for key initiatives.
Our ESG Approach
PureTech’s ESG framework is built around three strategic areas of focus to meet the needs of our stakeholders and to achieve a positive social impact: Patients, People and Planet. Our approach is underpinned by our robust governance framework, which helps us to deliver our mission, strategy and purpose in a consistent and responsible way.
Patients
27
new therapeutics and therapeutic candidates generated from PureTech’s R&D engine
15
Are clinical indications being pursued by PureTech or its Founded Entities
1
Soon to be filed for FDA approval
2
Taken from inception at PureTech to FDA and EU regulatory clearances
People
1 of 12
FTSE250 companies to have a woman CEO 1
Top 17
Ranked in the top 17 FTSE 250 companies by FTSE Women Leaders Review for surpassing Board and leadership gender balance target 1
44%
Gender diversity at Board level 2
Cultural diversity at Board level 2
50%
of C-suite is female
$40K
committed to charitable
contributions and social causes 3
Planet
74%
less energy consumed
at the Boston HQ compared to The 2030 Challenge baseline
25%
fewer GHG emissions
generated at the Boston HQ compared to The 2030 Challenge baseline
Our Governance Structure
In 2020, PureTech’s Board of Directors formed an ESG Committee, chaired by Non-Executive Director, Kiran Mazumdar-Shaw. The responsibility of the ESG Committee is to effectively manage, review and advance ESG issues on an ongoing basis. This process includes assessing and overseeing PureTech’s climate-related risks and opportunities, as well as considering how these should inform business planning and strategic focus into the future. As of 2022, the ESG Committee comprised one member of PureTech’s Executive team and a dedicated working group of cross-functional leaders to drive internal action and implementation. The ESG Committee is supported by several third-party experts to guide our approach.
Our Reporting Frameworks
In April 2023, we published the 3rd edition of our ESG report (see report here). We are increasing our level of reporting and transparency around ESG as we build a strong and sustainable organization. To that end, we have undertaken peer benchmarking and added new reporting metrics – Task Force on Climate-related Financial Disclosures (TCFD), Sustainability Accounting Standards Board (SASB), and Sustainable Development Goals (SDGs) frameworks – to communicate our progress.
Our ESG Performance
We are proud to be part of the sustainable community and are committed to continue to develop appropriate benchmarks for our future targets and strategies that will be used to track PureTech’s performance on key areas over time.
- As of December 17, 2022, PureTech received an ESG Risk Rating of 17.5 from Sustainalytics putting us in the ‘Low Risk’ category of experiencing material financial impacts from ESG factors. Sustainalytics ESG ratings evaluate a company's exposure to material industry specific ESG risks and how well a company manages those risks. PureTech ranked in the top 3% of pharmaceutical companies. This reflects our commitment and continuous efforts to contribute to a sustainable future.
- As of March 28, 2022, PureTech was awarded with the ISS ESG Prime Label as a ESG leader within the industry.
Sustainability Resources
FTSE Women Leaders Review
The FTSE Women Leaders Review is an independent, business-led framework supported by the Government, which sets recommendations for Britain’s largest companies to improve the representation of Women on Boards and in Leadership positions.
In 2022, PureTech was ranked as top 17th FTSE 250 company with strong gender diversity on the Board and Leadership level.
MassBio Open Letter 2.0
PureTech is a proud signatory of MassBio’s Open Letter 2.0, serving as a call to action for CEOs across the life sciences to create change within their respective organizations.
Project Onramp
PureTech is a participant of Project Onramp, helping to bridge the opportunity gap for many promising underserved students via paid summer internships.
1 FTSE Women Leaders Review, 2022.
2 Board composition at December 31, 2022.
3 In 2022, PureTech made charitable contributions to Fred Hutchinson Cancer Research Center, International Rescue Committee, The Pulmonary Fibrosis Foundation (PFF) and The Greater Boston Food Bank.
4 https://www.sustainalytics.com/corporate-solutions/esg-solutions/top-rated-companies