Our Environmental, Social and Governance (ESG) Initiatives
For PureTech, ESG means building and maintaining a sustainable business so that we can deliver on our mission to discover, develop and aim to commercialize new therapies for devasting diseases where limited or no treatment options currently exist for patients. It is the hard work and commitment of our internal and external stakeholders who make the achievement of our mission possible.
We recognize the importance of good governance in delivering ESG outcomes and, accordingly, have chartered our ESG Committee chaired by a non-Executive Director, Kiran Mazumdar-Shaw, in 2020 to guide our approach and serve as an internal champion for key initiatives.
2021 ESG Report
Our ESG Approach
Our ESG framework is built around three focus areas, Patients, People and Planet, to help us deliver on our
mission, strategy and purpose to advance innovative and differentiated medicines for patients in need.
therapeutics and therapeutic candidates invented at PureTech, advanced internally or via partners
are clinical stage
granted FDA clearance & EU marketing authorization
soon filing for FDA approval
1 of 10
FTSE250 companies to have a woman CEO 1
FTSE 250 company to have exceeded FTSE Women Leaders Review Board and leadership gender balance target 1
gender diversity on the Board level 2
cultural diversity on the Board level 3
committed to charitable
contributions and social causes 4
less energy consumed
at the Boston HQ compared to The 2030 Challenge baseline 5
fewer GHG emissions
generated at the Boston HQ compared to The 2030 Challenge baseline 5
Our Governance Structure
PureTech's ESG committee, chaired by non-executive director Kiran Mazumdar-Shaw, is charged to manage, review and advance ESG issues within the business and drive enhanced reporting through the ESG report each year. The Board, through the ESG committee as led by the committee’s Chair and another member of our Board, welcomes active engagement with, and will continue to solicit feedback from, shareholders – and other stakeholders – on matters relating to ESG and corporate stewardship. The ESG committee is supported by at least one management member and a dedicated internal working group.
Our Reporting Frameworks
In April 2022, we published the 2nd 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.
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 14th 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.
PureTech is a participant of Project Onramp, helping to bridge the opportunity gap for many promising underserved students via paid summer internships.
1 Source: FTSE Women Leaders Review, 2021
2 Board composition at March 24, 2022
3 Board composition at December 31, 2021
4 In 2021 and through January 2022 post-period, PureTech made charitable contributions to Life Sciences Cares, The Greater Boston Food Bank (GBFB), Lymphatic Education & Research Network (LE&RN), Langer Prize for Innovation & Entrepreneurial Excellence Fellowship, and Fred Hutchinson Cancer Research Center.
5 The 2030 Challenge is a carbon-neutral target issued by the Architecture 2030 in 2006 recommending all new buildings, developments and major renovations to meet a fossil fuel, GHG-emitting, energy consumption performance standard of 70% below the regional (or country) average/median for any specific building type. Boston HQ building data is assessed as a laboratory type building and the data is generated by AppFolio Property Manager, prepared for Related Beal. The current data available is as of December 31, 2020.
6 Copyright ©2022 Sustainalytics. All rights reserved. This section contains information developed by Sustainalytics (www.sustainalytics.com). Such information and data are proprietary of Sustainalytics and/or its third party suppliers (Third Party Data) and are provided for informational purposes only. They do not constitute an endorsement of any product or project, nor an investment advice and are not warranted to be complete, timely, accurate or suitable for a particular purpose. Their use is subject to conditions available at https://www.sustainalytics.com/legal-disclaimers.