T H E 1 2 T H U Case Study APPLY ANALYTICS-DRIVEN SCENARIO keen to see more R&D into creating lower-carbon Case Study N I T PLANNING INTO BUSINESS PROCESSES materials to reduce industry emissions.” E BRISTOL MYERS SQUIBB VERIZON D N A T I Geopolitics, trade regulations, climate change O For CEOs to maximize the benefits of sustainable N and weather events are increasing the range S G R&D with a Focus on Equity R&D, however, they will need to assess their full Renewables in Telecommunications L O and ambiguity of possible scenarios, driving B value chain from a sustainability perspective, A CEOs to adopt analytics-driven scenario L C Bristol Myers Squibb (BMS), an American not only their material sourcing and production. To help meet its climate-related O M planning to prepare for the future. Currently, P multinational pharmaceutical company, Leading CEOs are looking to reduce the footprint commitments and facilitate the transition A C 62% of CEOs are strengthening their scenario T - is committed to addressing inequity in of their products across the lifecycle including to a greener grid, Verizon, the global A planning and analysis capabilities, with a split C C healthcare, through providing equitable procurement, manufacturing, distribution, telecommunications company, embarked on E N of 57% for CEOs of SMEs and 69% of CEOs T access to medicines. For example, in product use, and reverse logistics phases. an ambitious renewable energy purchase U R 2020, BMS pledged to locate at least from larger companies. As Alejandro Carrillo, Malek Sukkar, CEO of Averda, shares, “There program and has become a leading corporate E C E 25% of US sites participating in new BMS CEO of Masisa, says, “In the new norm, we need is a transformation happening in materials. buyer of U.S. renewable energy. Verizon has O S T to perform more proactive risk analysis and U clinical trials in racially and ethnically We cannot treat materials the same way. We will entered into more than 20 renewable energy D diverse metro areas. By the end of 2021, learn quickly from our mistakes to empower our purchase agreements (REPAs). Verizon’s Y people to make decisions faster.” have to look at how we can reuse materials at the company exceeded its goal, locating every stage of the journey.” With the full product REPAs are long-term virtual power purchase 54% of US clinical trial sites in highly This serves the dual purpose of both helping lifecycle in mind, companies may explore paths agreements and generally are expected to diverse communities. Ensuring diversity of CEOs prepare for potential scenarios, but also such as refurbishing, reusing, and product sharing help finance the development of new third- clinical trials enables underrepresented test the potential benefits and repercussions of models, which can reduce resource intensive party solar and wind facilities. The facilities communities to participate in the different courses of action. For more advanced manufacturing activities and dependence on virgin associated with Verizon’s REPAs span 12 development of critical and potentially analysis, 17% of CEOs are implementing artificial raw materials. This wider scope of assessment states and have a projected aggregate life-saving medicines, increasing healthcare intelligence for real-time risk analysis, with further opens the door for innovation, as companies capacity of approximately 2.8 GW. accessibility and equity by helping address the financial services and high-tech industries can iterate throughout the entire process. 1 blind spots in the health system. Funding for these agreements is substantially leading the trend (28% each). supported by Verizon’s USD 4 billion green ACCELERATE ADOPTION OF Furthermore, the Bristol Myers Squibb President of CTC Group [The Central Trading RENEWABLE ENERGY TO SECURE bond program, which is one of the largest Foundation, an independent charitable Company], Ahmed Abdellatif, shares, “We need YOUR ENERGY SUPPLY among corporate issuers in the USD market. organization, started a trailblazing program stronger planning tools and analysis. We need The program operates in accordance with committed to training at least 250 clinical models that show, over a longer timeline, what is With cutting carbon emissions at the center of Verizon’s Green Financing Framework that trial investigators who are diverse and/ the impact you can have and how you are driving many sustainability plans, CEOs need to also aligns with internationally recognized green or committed to increasing diversity in towards it. That will help drive sustainability secure green sources of energy and ensure financing principles and advances relevant clinical trials in partnership with the implementation and building resilience.” the sustainability of their energy supply chain. U.N. Sustainable Development Goals. Verizon Virginia Commonwealth University and the Renewable energy generation is a promising has fully allocated the net proceeds from American Association for Cancer Research solution, both offering affordable energy the first USD 3 billion of issuances primarily (AACR) – a $100+ million dollar investment EMBED SUSTAINABILITY CRITERIA and removing dependence on fossil fuels – a to finance REPAs for new renewable energy 2 INTO RESEARCH & DEVELOPMENT over five years. volatile commodity in regard to pricing. As projects and provided related impact reporting. Research & development (R&D) is a clear driver Arturo Gonzalo Aizpiri, Chief Executive Officer 1. https://www.bms.com/life-and-science/news-and-perspectives/ of growth and innovation in any company. It of Enagás, comments, “Security of supply and Verizon’s REPAs position it to achieve its fulfilling-out-role-in-increasing-clinical-trial-diversity.html 2. https://news.bms.com/news/philanthropy/2022/The-Robert- is therefore imperative that sustainability is decarbonization are two sides of the same coin.” goal to source or generate renewable A.-Winn-Diversity-in-Clinical-Trials-Award-Program-Announces- embedded in R&D criteria, to ensure all new energy equivalent to 50% of its total annual the-Second-Group-of-Physicians-to-be-Trained-in-the-114-Million- electricity consumption by 2025. Program/default.aspx innovations, as well as updates to existing CEOs recognize this promising opportunity, with products, have sustainability at their core. Already, 49% of CEOs investing in renewable energy sources 40% of CEOs are increasing their R&D funding for to reduce dependency on fossil fuels. Fleetwood sustainable innovation, with the automotive and Grobler, Executive Director and President and CEO chemical industries leading (58% agree in both). of Sasol, states, “At the heart of our pivot away As CEO & Managing Director of Mirvac, Susan from carbon-intensive fossil fuels is the advent of Lloyd-Hurwitz, elaborates: “We would like to see economically viable sustainable energy sources. sustainability requirements driving research and We can now rely on renewables to produce the development and innovation. For example, we are same products in a more sustainable way.” 72 73