How are healthcare organizations implementing their ESG policies? This was the question that served as the basis for a wide-ranging study by the Health Research Institute (HRI) of the consultancy PwC, which analyzed the environmental, social and governance initiatives of 45 health systems and insurers and 32 pharmaceutical and bioscience companies. One of the conclusions is that the social pillar is always present in the focus of attention of organizations, but they can broaden the ESG agenda by including environmental and governance actions.

On the environmental front, many carriers, insurers, and hospitals are looking for sustainable alternatives for their facilities, such as leadership in energy and environmental design (LEED). Others are moving forward by rethinking ways to reduce the environmental impact of inputs discarded in the operation.

The study found that in the governance pillar are the greatest chances for the growth of ESG actions, as sustainability reports are not enough. Truly transparent organizations disclose, for example, the structure of their boards and their policies for preventing fraud and ethical violations. A consistent governance strategy can minimize risks in this area and protect the company’s brand.

In the social area, several organizations have initiatives aimed at ensuring increasingly transparent communication and improving programs that guarantee diversity and inclusion among their team of employees. But here too there is room for more actions, more consistent. Of the leaders surveyed, 58% said they expect to increase diversity and inclusion training and 52% intend to increase outreach on the topic in the coming months.

The research draws attention to the fact that service providers, operators and health insurers have ample opportunities to develop relevant ESG efforts across the business, not just in their press releases. Such measures need to be aligned with the overall mission of improving the health of the population. ESG factors cannot be seen as an imposed agenda, but rather as part of corporate responsibility in building a more sustainable collective consciousness. Organizations can – and should – differentiate themselves through ESG strategies that make them more appealing to customers, employees, investors, and analysts.