As a B Corp in the biopharmaceutical industry, Chiesi is counted among businesses that are leading a global movement for an inclusive, equitable, and regenerative economy. It is an achievement to be proud of, and yet one that feels natural: caring for others lies at the root of health science and has always been at the heart of our work.
While sustainability has always been important to Chiesi, today, more than ever, it is part of our strategic plan. This means we are committed to improving patient quality of life, protecting the planet and its inhabitants, supporting our communities, promoting the development of our people and guaranteeing maximum transparency in the way we work. As part of this process, we have chosen to become a Benefit Corporation, an innovative legal status that allows us to serve a dual purpose: not only creating value for our shareholders but pursuing the collective good. Internally, we have launched “We Act - Actively Care for Tomorrow”, a sustainability programme that involves the whole Chiesi population in a coordinated effort.
Our B Corp certification is a truly global collective achievement. Since 2018, all the affiliates have been involved in a process of self-assessment and improvement, that led us to confirm our certification in 2022. Using standardised assessment criteria, we have been able to identify areas for potential development throughout the company and establish best practices to be extended to all our affiliates worldwide.
B Corps are companies that meet high standards of social and environmental performance, accountability, and transparency. The B Corp movement includes over 5,000 companies in more than 80 countries, whose common goal is to use business as a force for good. To become a B Corp, a company is required to achieve a minimum score on the B Impact Assessment, which is a rigorous assessment of the company’s impact on its workers, customers, community and environment. B Corps are also required to publish a yearly Impact Report for transparency.
Since 2016 Italy ranks top worldwide and was the first country after the US to introduce Benefit Corporation (Società Benefit), a new legal business entity forming a solid foundation with which to align and protect the company’s mission, in addition to generating long-term shared value. Chiesi became a Benefit Corporation in 2018 in accordance with Italian law no. 208/2015, incorporating into its articles 4 specific purposes concerning its patients, the community, its employees, its suppliers and the environment where it operates, as well as a more general purpose of common good.
Benefit Companies represent one of the most advanced models in terms of positive social and environmental business impact. They are for-profit companies whose business purpose has a dual objective: creating value for both shareholders and stakeholders. Combined, these constitute a global movement of ‘Purpose Driven Businesses’, whose aim is to ensure that a more evolved economic paradigm becomes more widespread, in which the company is seen as a key player in regenerating society and the biosphere. The Benefit Company movement intends to promote healthy competition between all companies, as the way they work is assessed and evaluated according to the same benchmark: their positive impact on society and the planet, as well as their financial results.
Benefit Companies are also required to present an annual Impact Report indicating a series of objectives regarding the specific business purposes set down in their company articles.
Click here to read Chiesi’s Annual & Sustainability Report.