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This year, we introduced measurements of our environmental impact that derive from various indirect emissions sources (scope 3), including water consumption, water treatment and waste management.
We are aligning our internal processes and public disclosure with the Taskforce on Climate-related Financial Disclosures (TCFD) recommendations.
We have summarised our progress to date in this section.
Strategy: efforts we are making to assess the actual and potential impact of climate-related risks and opportunities on our business, strategy and financial planning.
• Risk Management: how we identify, assess and manage climate-related risks.
• Metrics and Targets: our progress on setting metrics and targets to assess and manage our material climate-related risks and opportunities.
Governance To ensure that sustainability topics are considered at the highest level of decisionmaking, they have been placed under the remit of our Compliance Responsibility and Ethics Committee (CREC).
CREC is a Board-level committee which is chaired by an independent, non-executive director.
The Committee comprises four independent non-executive directors and the Executive Vice-Chairman.
CREC reviews our progress on sustainability including environmental considerations.
Strategy Hikma aims to manage its impact on the environment in a responsible manner, to adapt our organisation to climate change and to avoid adverse impacts.
In order to achieve this, we are assessing our impact on the environment and the potential impact of climate change scenarios on our organisation.
Risk management We assess climate-related risks through our emerging risk management process.
The process involves engaging with external experts, scenario modelling and connecting to existing interrelated risk mitigation programmes.
The approach helps to ensure appropriate management attention is provided to this developing area.
Metrics and targets We are currently in the process of determining what metrics and targets are appropriate to assess our climate-related risks and opportunities to measure our impact on the environment.
At the same time, we are assessing our climate-related risks and opportunities.
Monitoring and minimising our environmental impact Climate impact identification and materiality assessment We are undertaking an assessment of the material climate-related risks and opportunities that have the potential to impact our business.
Impacts already identified on our existing risk register.
• External publications and data relating to climate change.
• Relevant sector literature outlining the potential impact of climate change on the pharmaceutical sector (peers, investors, regulators, market).
Guidance from the TCFD on potential risks & opportunities for businesses.
Recent CDP (formerly the Carbon Disclosure Project) risk and opportunity disclosures from pharmaceutical sector companies.
All potential risks and opportunities are scored based on an initial high-level assessment of their likelihood, magnitude, and velocity.
The most material risks and opportunities will then be further evaluated to gain a more detailed understanding of their potential impact on our business.
This materiality assessment will be conducted regularly to ensure that any changes to materiality are continuously monitored and updated.
Any further work to determine financial impacts will feed into future materiality assessments.
Scenario analysis We will rate the magnitude, likelihood, and velocity of each risk/opportunity’s impact on our business over each time horizon for each scenario.
The purpose of this is to identify the climate risk/opportunities that are assessed to have the largest impact.
We will continue to improve the depth of our scenario analysis, and begin to quantify the financial impact of our material climate-related risks and opportunities.
This will enable us to make better decisions on how to manage climate-related risks and capitalise on climate-related opportunities.
Time Horizons The time horizons used for scenario analysis are outlined below.
The first ‘longer-term’ horizon is aligned to our longer-term viability statement (LTVS) period.
Scenarios We have adopted three scenarios in line with the Bank of England’s reference climate scenarios as outlined in their consultation document released in December 2019.
These scenarios are not intended to represent a full description of the future, but rather highlight central elements of a possible future.
They are hypothetical constructs, rather than forecasts, predictions, or sensitivity analyses.
The scenarios have been used to understand how the material climate-related risks and opportunities could differ in the future at a high level, and will be used to model the business impacts of all material climate-related risks and opportunities over different time horizons to better understand the financial impacts u...
Early, decisive action by society to reduce global emissions.
• Actions sufficient to limit global warming to well-below in line with the Paris Agreement.
Delay in the policy response needed to reduce global emissions.
Several policy changes required to compensate late start.
Governments fail to introduce further policies to address climate change beyond those already in place.
Carbon Credentials Energy Services Ltd (Carbon Intelligence) has been contracted by Hikma Pharmaceuticals (Hikma) for the independent third-party verification of direct and indirect carbon dioxide equivalent emissions (CO2e) and accounts to a reasonable level of assurance.
This verification exercise has been performed to the ISO standard.
Description Of Activities The organisational boundary was established following the operational control approach.
Scope • Combustion of gaseous fuels (natural gas, diesel, petrol & LPG) • Fugitive refrigerant gases Scope 2 Emissions • Purchased electricity consumption (location & market based) Objectives The objectives of this verification exercise were, by review of objective evidence, to confirm whether any evidence existed that...
Guidance: An Amendment to the GHG Protocol Corporate Standard ii.
Level Of Assurance And Materiality The level of assurance agreed is that of reasonable assurance.
Conclusion & Verification Opinion We planned and performed our work to obtain the information, explanations and evidence that we considered necessary to provide a reasonable level of assurance based on the process and procedures conducted.
We conducted our verification of the GHG assertion of Hikma, which included assessment of the company GHG information system and monitoring and reporting methodology.
This assessment included the collection of evidence supporting the reported data and multiple checks relative to the provisions of the legislation, reporting standard and calculation methodologies referenced in the verification criteria.
This statement shall be interpreted with the GHG assertion of Hikma as a whole.
Carbon Intelligence’s approach is risk-based, drawing on an understanding of the risks associated with calculating GHG emission information and the controls in place to mitigate these risks.
Our examination included assessment, on a limited sample basis, of evidence relevant to the reporting of emission information.
Is prepared in accordance with the criteria listed above.
It is our opinion that Hikma has established appropriate systems for the collection, aggregation and analysis of quantitative data for determination of these GHG emissions for the stated period and boundaries.
Based on our work, Carbon Intelligence considers that material GHG sources are appropriately identified and reported on.
All errors in reported data identified during the verification process have been duly corrected.
On behalf of Carbon Credentials Energy Services Ltd No member of the verification team has a business relationship with Hikma Pharmaceuticals, its Directors or Managers beyond that required of this assignment.
p Principle 2 Businesses should make sure that they are not complicit in human rights abuses.
p Principle 3 Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining.
p Principle 4 Businesses should uphold the elimination of all forms of forced and compulsory labour.
p Principle 7 Businesses should support a precautionary approach to environmental challenges.
p Principle 8 Businesses should undertake initiatives to promote greater environmental responsibility.
p We continue to uphold the ten principles of the UNGC and have been committed members of the organisation since 2007.
No significant changes during the reporting year 102-12 List of externally-developed economic, environmental and social charters, principles, etc.
In-Accordance Core 102-56 External assurance NA We have developed a GRI index to indicate which elements of the GRI Standards are covered in our reporting.
United Nations Global Compact Principles As I write this, we are in the midst of an unprecedented health crisis—one that has impacted the lives of so many around the world.
Our response at this challenging time is just one example of how we increase access to quality, affordable treatments and contribute to communities across the globe.
This work is only possible because of our commitment to operate responsibly, ethically and transparently.
affordable generic medicines, as well as innovative and specialty pharmaceuticals, over-the-counter healthcare products and active pharmaceutical ingredients that we supply to industry peers.
and the Tel Aviv Stock Exchange (TASE: TEVA).
practices for complying with laws, regulations and internal procedures.
in savings from Teva’s generic medicines and the contributions of our economic activity to jobs, gross domestic product (GDP) and labor income.
in global workforce and 85% of our direct economic activity.
it is the foundation of our business and what we ultimately want for every patient we serve.
of patients with the relapsing-remitting form of multiple sclerosis (MS).
release hormones that control various functions of the digestive system.
Even affordable medicines may not be accessible to the most disadvantaged populations.
Teva has collaborated with key partners for decades to get medicines to those in need, often in countries where Teva does not have a presence.
In packages of medicines to patients around the world, valued at $246 million.
Our donated medicines covered various therapeutic areas, including chronic health conditions, such as cardiovascular disease, diabetes, mental health and pain, as well as antifungals, antiinfectives and antivirals.
Teva received eyeforpharma’s for our partnership with Direct Relief, reflecting patient and health professional recognition of our work to improve access to medicines.
1 Gupta S, Howard SC, Hunger SP, et al.
a good partner to regulatory bodies and supply needed medicines whenever possible.
to UN organizations — Mephaquin ( Increasing the availability of quality medicines The WHO’s Prequalification of Medicines Programme (PQP) helps ensure medicines supplied by procurement agencies meet acceptable standards of quality, safety and efficacy.
in development to be approved, due to a critical or life-threatening condition.
Ten Teva products, or diseases, asthma and type 2 diabetes.
Advancing treatment options with biosimilars Biosimilars are medicines that are highly similar to approved biologics (complex medicines made from living cells or organisms).
Because biosimilars do not require as many expensive or lengthy clinical trials, they have the potential to lead to faster access to these medicines, more treatment options and greater cost competition.
In November and December TRUXIMA® (rituximab-abbs) and HERZUMA® (trastuzumab-pkrb), which are oncology biosimilar candidates, through our exclusive partnership with Celltrion.
R&D partnerships help Teva expand our pipeline and advance our work in developing therapies that can impact the lives of patients.
In Teva R&D researchers published 123 articles in peer-reviewed scientific journals on developing and evaluating medicines to treat diseases in neurology, migraine, pain, respiratory and oncology.
Teva assisted our investigators who were interested in presenting their new research at conferences, resulting in 264 scientific conference presentations.
Teva’s Global Publication Policy defines our position on scientific and medical publications to ensure full transparency and compliance with all applicable external laws, guidelines and requirements, while protecting Teva’s intellectual property.
Contributing to Healthy Communities https://www.imi.europa.eu/ https://www.yedarnd.com/ https://www.yedarnd.com/ https://www.weizmann.ac.il/pages/ Teva has developed deep expertise in select health conditions.
to our communities and organizations that help address health challenges around the world.
We are limiting the number of people in our facilities to only those who are essential and may not work remotely, enforcing strict guidelines to protect and ensure our employees’ safety and keeping our workforce fully employed.
— Ensuring continued, safe supply of our essential medicines and active pharmaceutical ingredients (APIs).
conditions (MCC), or two or more chronic conditions at the same time.