Our Environmental, Social and Governance (ESG) Initiatives
At PureTech, our commitment to sustainability through strong Environmental, Social and Governance (ESG) practices remains steadfast. As we work to give life to new classes of medicine to change the lives of patients with devastating diseases, we recognize that maintaining a sustainable business is essential.
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
29
therapeutics and therapeutic candidates generated from PureTech’s R&D engine
14
clinical indications being pursued by PureTech or its Founded Entities
2
therapeutics taken from inception at PureTech to FDA and EU regulatory clearances
1
filed for FDA approval
80%
of clinical trials were successful1
6X
better probability of clinical success compared to the industry average2
People
Top 7
within FTSE350 healthcare sector for women in leadership
Top 12%
within FTSE250 by FTSE Women Leaders Review for surpassing Board and leadership gender balance target3
Top 30
within FTSE250 for female board membership inclusion
1 of only 8
FTSE250 companies to have exceeded the 2024 target of more than two minority ethnic directors4
Planet
73%
less energy consumed
at the Boston HQ compared to the 2030 Challenge baseline
28%
fewer GHG emissions
generated at the Boston HQ compared to the 2030 Challenge baseline
Our Governance Structure
Our ESG Committee was founded in 2020 and is chaired by non-Executive Director, Kiran Mazumdar-Shaw. The ESG committee is responsible for managing, reviewing and advancing our ESG progress and enhancing disclosure and transparency through our annual ESG reporting process. The ESG committee is composed of a non-Executive Director and supported by at least one C-Suite Officer, and reports directly to the Board. The work of the ESG Committee is supported by a dedicated internal working group, that is responsible for the implementation of strategy and welcomes active engagement with shareholders and other stakeholders on matters relating to ESG and corporate stewardship.
Our Reporting Frameworks
In April 2024, we published the 4th edition of our ESG report (see report here) detailing our ESG strategy, performance and ongoing progress. This report was developed based on feedback from our stakeholders and metrics used by corporate responsibility and sustainability rating providers. In 2023, we continued to enhance our disclosures and transparency by aligning our reporting with best practice frameworks including: Sustainability Accounting Standards Board (SASB), United Nations Sustainable Development Goals (SDGs), and the Task Force on Climate-related Financial Disclosures (TCFD) framework.
Our ESG Performance
PureTech participates in various third party ESG Risk Ratings to evaluate our exposure to material industry-specific ESG risks. The assessment process and its results guide our ESG program with a goal to improve our initiatives each year. In 2023, we participated in and received positive ratings from Sustainalytics, ISS, CDP and FTSE Russell. This reflects our commitment and continuous efforts to contribute to a sustainable future.
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 2023, PureTech was ranked as top 12% FTSE250 company with strong gender diversity on the Board and Leadership level.
Parker Review
The Parker Review is an independent framework, comprising business professionals who each bring, on a voluntary basis, a wide range of gender and ethnically diverse perspectives.
In 2023, PureTech was recognized as 1 of only 8 FTSE250 companies to have exceeded the 2024 target of more than two minority ethnic directors.
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 The percentage includes number of successful trials out of all trials run for all therapeutic candidates advanced through at least Phase 1 by PureTech or its Founded Entities from 2009 onward.
2 Calculated based on the aggregate PureTech data including all therapeutic candidates advanced through at least Phase 1 by PureTech or its Founded Entities from 2009 onward and the industry average data. Industry average data measures the probability of clinical trial success of therapeutics by calculating the number of programs progressing to the next phase vs. the number progressing and suspended (Phase 1=52%, Phase 2=29%, Phase 3=52%). BIO, PharmaIntelligence, QLS (2021) Clinical Development Success Rates 2011-2020. This study did not include therapeutics regulated as devices.
3 FTSE Women Leaders Review, 2024.
4 Parker Review, Improving the Ethnic Diversity of UK Boards, 2023.
5 Board composition as of December 31, 2023.