Farmak took the fourth place in the sustainable development rating published by Korrespondent.net. The rating was developed and compiled by experts of Dengi.ua and Korrespondent.net in partnership with the UN Global Compact Network Ukraine.
The evaluation of all rating participants was based on ESG (Environmental, Social and Corporate Governance) criteria. The rating is made up of 39 companies from different sectors of the economy.
During the evaluation, the jury examined and took into account the following parameters:
“To evaluate progress in sustainable development, it is important to consider not only the company’s projects, but also the context. That is, what methods the company has used to achieve results, whether the changes will be long-term and systemic, and how they will affect stakeholders. Our rating position is a good confirmation that social responsibility is a comprehensive approach for Farmak, ranging from transparent financial reporting, honest payment of taxes, ensuring decent working conditions, to environmental initiatives,” said Volodymyr Kostiuk, Farmak Chief Executive Officer.
“The rating methodology reflects the global economy realities and focuses on indicators that should become a priority for Ukrainian businesses. The development of legislation on non-financial activities would promote business sustainability culture growth and accelerate Ukraine’s economic transition in line with the SDGs (Sustainable Development Goals),” commented Alina Konovalchenko, Partnership Manager at the Global Compact Network Ukraine.
Farmak is the first Ukrainian pharmaceutical company to join the UN Global Compact, the world’s largest corporate sustainability initiative.
