Sep 09, 2020

Farmak team presented project of Integration of Sustainable Development Goals in business processes in the final of Young SDG Innovators Programme under the UN Global Compact.

The teams of Farmak, Alfa-Bank Ukraine, DTEK, Energoatom, FUIB, Astarta-Kyiv, EPAM, EY Ukraine, FILM.UA Group presented their projects of Integration of Sustainable Development Goals in existing business models at the final event of the international Young SDG Innovators Programme


launched by the UN Global Compact. The event gathered together 148 teams from 10 countries such as Bangladesh, Brazil, the United Kingdom, Denmark, Lebanon, Mexico, South Africa, Turkey, Ukraine and the USA.


“It is necessary to remember during the pandemic crisis that when we overcome it we will still remain in the Global Crisis due to climate change and other threats. To follow Sustainable Development Goals is not a choice any more. This is a given for which people and company should live and work. Ecosystem preservation is the main goal for whole world: all countries, companies and every person living on the Earth. These ambitious goals require business, government and society cooperation, and everyone should understand that he/she can make own contribution in achieving them. Our mission is to make the treatment with modern and effective medicinal products possible. It corresponds to the third Sustainable Development Goal. To achieve it we invest in science, manufacturing, innovations, R&D. Farmak annually reinvests approximately 95% of its profits in development. Farmak’s investments in its scientific and technological complex, manufacturing equipment and R&D amount to UAH 3.4 billion over the past 5 years. Manufacturing expansion made it possible to increase the output volume by 35%, simultaneously reducing gas and electricity consumption by 76% and 64% respectively per UAH 1 of output. We integrated the sustainable development principles in the Company’s all manufacturing processes – from supplier selection to waste management and use of natural resources, and became the first pharmaceutical company in Ukraine to join the UN Global Compact. Moreover, this year we published our first non-financial statements. Now we are focused on the Long-Term Farmak Sustainable Development Strategy which will correspond to the Company’s ambitious business goals and the sustainable development strategy of the industry and country,” said Volodymyr Kostiuk, Executive Director of JSC “Farmak”.


Young SDG Innovators Programme gathered together the representatives from 10 countries (Bangladesh, Brazil, the United Kingdom, Denmark, Lebanon, Mexico, South Africa, Turkey, Ukraine and the USA). 10 teams from each county developed sustainable development implementation projects for companies at which they are employed during almost a year.
The Programme consisted of  training sessions and mentoring. It used the Sustainable Experience Innovation model (Desirability, Feasibility, Viability, Sustainability) adapted to Sustainable Development Goals which is based on the principles of Design Thinking and was implemented by the experienced professionals in innovation and business transformations involving the experts in communication, management, prototyping, finances, business modelling and many others.


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