Farmak pharmaceutical company (Kyiv) ranked fourth in the rating of companies in terms of sustainable development, according to a company’s press release.
According to the report, the rating was developed and conducted by experts of the Dengi and Korrespondent publications in partnership with the UN Global Compact Network Ukraine. In general, the rating includes 39 companies from various sectors of the economy, including the pharmaceutical company Darnitsa.
All rating participants were tested according to environmental, social and corporate governance (ESG) criteria. The jury took into account the anti-corruption policies and practices of companies, the situation with gender balance in the top management bodies, the average level of wages excluding the top staff, a set of key social programs and the amount of their funding, as well as the amount of funding for energy modernization and the dynamics of reducing the carbon footprint.
“The rating methodology reflects the realities of the world economy and focuses on indicators that should be a priority for Ukrainian businesses. Development of legislation on non-financial activities would contribute to the growth of a culture of business sustainability and accelerate the economic transition of Ukraine in accordance with the Sustainable Development Goals,” Partnership Manager at the UN Global Compact Network in Ukraine Alina Konovalchenko said.
“To assess the achievements in sustainable development, it is important to look not only at the company’s projects, but also at the context. That is, by what methods the company achieved results, whether the changes will be long-term and systemic, and how they will affect the stakeholders. Our position in the rating is a good confirmation that social responsibility is an integrated approach, from transparent financial reporting, fair tax payments and decent working conditions to environmental initiatives,” Executive Director of Farmak Volodymyr Kostiuk said, adding that Farmak is the first Ukrainian pharmaceutical company to join the UN Global Compact.
Farmak is the leader of the Ukrainian pharmaceutical market, it produces medicines in all 14 therapeutic groups.
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