Companies are increasingly deciding to collaborate with peers – instead of competing – when it comes to critical issues like sustainability. Supplier data that was once considered proprietary is now viewed as a shared opportunity to drive a networked impact and cross-company value.
This is why three leading health and pharmaceutical companies – GlaxoSmithKline, Teva, Takeda – and EcoVadis, a provider of sustainability risk ratings, announced the launch of the Responsible Health Initiative (RHI).
RHI is the first of its kind for the pharma industry and mirrors goals similar to that of Railsponsible (transportation and rail), Together for Sustainability (chemical) and AIM-Progress (CPG). The mission of the new sector initiative is to use collaboration and technology to improve the visibility, efficiency and sustainability impact of the global health supply chain. The effort will increase shared value across the industry’s supply chain by enabling key players in the global health sector to boost not only their own sustainability performance, but also that of the industry’s collective group of suppliers.