Pharmaceutical service provider integrates sustainability goals into its corporate strategy
Ravensburg, June 1, 2022 – Vetter, a global leading Contract Development and Manufacturing Organization (CDMO), has published its first sustainability report. The report underpins the company's commitment to sustainable action and covers three areas: Ecological Responsibility, Sustainable Economy, and Social Engagement. In doing so, the CDMO is orienting its activities to the UN Sustainable Development Goals.
"As a family-owned business, we think in the long term and aim to act in an economically, socially, and ecologically responsible manner," says Senator h.c. Udo J. Vetter, Chairman of the Advisory Board and member of the owner family. And Vetter lives up to this responsibility. For many years the pharmaceutical service provider has been realizing a comprehensive sustainability program through its comprehensive EHS (Environment, Health, and Safety) management. Now the company is going one step further. "With the publication of our first sustainability report, we are committing ourselves to the future and making our previous measures on the subject of sustainability transparent for everyone to understand," emphasizes Senator h.c. Udo J. Vetter.
And these measures are multifaceted, encompassing the areas of ecology, economy, and social issues in their interplay. "Sustainability is firmly anchored in our corporate philosophy," says Vetter Managing Director Peter Soelkner. "Of course, on many levels, it also plays an important role in our current corporate strategy Vetter NExT 2029." All stakeholders are included in the process. Thus, the report also shows the individual importance of sustainable action for patients and their families, customers, employees, partner companies as well as society overall. The company‘s sustainability goals are aligned with the requirements for the Sustainable Development Goals (SDGs) of the United Nations.
Ecological responsibility – looking to future generations
"We are very aware of our social responsibility towards future generations," emphasizes Vetter Managing Director Thomas Otto. "One of our main initiatives is therefore, to further reduce our emissions, energy consumption, and waste volumes, while at the same time meeting the high regulatory requirements within the manufacturing of vital medicines." Since 2021, all Vetter sites worldwide have been CO2-neutral. In addition, the company attaches great importance to the stable supply of green electricity from hydroelectric power plants as well as the use of energy from cogeneration units, photovoltaic systems, and geothermal energy. By realizing efficiency measures, the CDMO has saved more than 31 million KWh of energy over the past ten years and expects to further reduce energy consumption an additional 10% by 2029. Through the use of green technology and targeted investments that are in line with the German government's technology strategy, the company was already using 1,562 m3 less water in 2021, for example, or the equivalent annual consumption of 34 people.
Sustainable economy – value creation and occupational safety
Vetter's entrepreneurial goal is to create sustainable value. Implementing a sustainability strategy is an integral part of its business model. Another focus is on the promotion as well as the protection of its employees. With a comprehensive occupational health and safety management system, the pharmaceutical service provider creates a safe working environment. In addition, Vetter invests in high-quality education of its employees through continuous training.
Social commitment – Social sustainability
As a globally acting company, Vetter currently employs 5,700 people from over 60 different nations and has been a member of the Diversity Charter since 2017. The CDMO is committed to a prejudice-free, appreciative working environment in which equal opportunities prevail for all employees – regardless of characteristics such as gender identity, ethnic origin, nationality, and age. "At the same time, we are aware that social responsibility extends well beyond our own company," says Managing Director Peter Soelkner. "That is why we are actively involved in various initiatives around our corporate sites."
About the Vetter Sustainability Report
The structure of the report is based on the requirements of the German Sustainability Code (DNK). In addition, the content was reviewed against the internationally recognized Sustainability Report Standards (SRS), the Global Reporting Initiative (GRI), and the principles of completeness, materiality, and stakeholder engagement.
"Our first sustainability report is another important milestone in Vetter's corporate history. Even though we look with pride at the results achieved thus far, we see it, above all, as an incentive and motivation to continuously realize our further goals," Managing Director Thomas Otto sums up.