Navamedic ASA
Climate Impact & Sustainability Data (2022, 2023)
Reporting Period: 2022
Environmental Metrics
ESG Focus Areas
- Safe and timely medicine supplies
- People's health (obesity, antibiotics, medical nutrition)
- Human and labor rights
- Work/life balance for employees
- Employee competence development
- Supplier sustainability initiatives
- Packaging waste reduction
- Sustainable transport
- Sustainable business travel
- Environmental Management System (ISO 14001)
- Business ethics and anti-corruption
Environmental Achievements
- Improved order handling process to optimize shipments and reduce kilometers driven
- New travel policy focusing on optimizing business trips and choosing environmentally friendly transportation
- New company car policy requiring electric or hybrid vehicles where possible
- ISO 14001 certification (achieved in 2021)
Social Achievements
- Comprehensive onboarding program for new employees
- Support for employee skills development
- Commitment to equal employment opportunities and diversity (19/34 employees are women in 2022)
- No serious health and safety incidents resulting in injuries or absences in 2022
- Sick leave rate reduced to 2.0% in 2022 from 5.5% in 2021
- Obesity treatment support including products, tools, and online resources (MyControl website and MyControl Support program)
Governance Achievements
- Code of conduct covering business ethics, anti-corruption, working environment, and climate
- Compliance with EFPIA Disclosure Code
- Extensive evaluation of suppliers covering anti-corruption and business ethics
- Launch of Supplier code of conduct in 2023
Climate Goals & Targets
Medium-term Goals:
- NOK 1 billion revenue company with 15% EBITDA margin
Short-term Goals:
- At least one product packaging optimization per year
Environmental Challenges
- Increased competition
- Supplier out-of-stock situations
- Price reductions
- Competition from generic products
- Increased energy and raw material prices
- Potential supply chain disruptions due to global market imbalances and instability (e.g., war in Ukraine)
Mitigation Strategies
- Diversified and broader product portfolio
- Continuous dialogue with suppliers to ensure favorable terms for agreement renewals
- Proactive approach to mitigate the impact of increased energy and raw material prices
- Regular risk assessment (in compliance with Åpenhetsloven)
Supply Chain Management
Supplier Audits: Extensive evaluation of all suppliers in 2022 covering company and country-specific risks
Responsible Procurement
- Supplier code of conduct launched in 2023 covering human and labor rights, health & safety, sustainability, anti-bribery, and child labor
Climate-Related Risks & Opportunities
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:16.1 + 0.8 + 59.8 + 9.8 + 68.2 = 154.7 tCO2e/year
Scope 1 Emissions:16.1 tCO2e/year
Scope 2 Emissions:0.8 tCO2e/year
Scope 3 Emissions:137.8 tCO2e/year
Carbon Intensity:0.3 tCO2e per mNOK revenue
ESG Focus Areas
- Sustainable supply of medicines
- Public health (obesity, antibiotics, medical nutrition)
- Human and labor rights
- Employee well-being and development
- Sustainable supply chain
- Packaging waste reduction
- Sustainable transportation
- Environmental management (ISO 14001)
- Corporate social responsibility
- Ethical conduct and compliance
- Sustainable sourcing
Environmental Achievements
- Implemented robust methodologies to quantify environmental footprint using World Favor, covering Scope 1, 2, and 3 emissions.
- Optimized product transportation through warehouse consolidation, reducing kilometers traveled.
- Removed excess plastic and reduced packaging size for some products.
- Joined the Science Based Targets initiative.
Social Achievements
- Launched Lighter Together weight management program.
- Created MyControl website to increase public knowledge about obesity.
- Collaborated with five pharmaceutical companies to engage pharmacy employees and gather patient insights.
- Maintained a diverse workforce (26 women out of 44 employees in 2023).
Governance Achievements
- Launched a Supplier Code of Conduct.
- Implemented World Favor to distribute sustainability questionnaires to partners.
- Adheres to the EFPIA Disclosure Code.
- Maintains a zero-tolerance policy towards corruption.
Climate Goals & Targets
Long-term Goals:
- Continue with packaging optimization (removing unnecessary material, support recycling and use of recyclable materials)
- Continue developing and maintain a robust methodology and system for CO2 emission monitoring
Medium-term Goals:
- Climate neutral business trips by 2030
- All company cars to be electric
Short-term Goals:
- Continuous partners evaluation and follow-up on their sustainable business practice
Environmental Challenges
- Reducing environmental footprint across the supply chain.
- Ensuring sustainable practices among suppliers.
Mitigation Strategies
- Warehouse consolidation to optimize transportation.
- Packaging optimization to reduce waste.
- Supplier Code of Conduct and sustainability questionnaires.
- Collaboration with suppliers and customers for efficient logistics.
Supply Chain Management
Responsible Procurement
- Supplier Code of Conduct
- Sustainability questionnaires through World Favor
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: UN Sustainable Development Goals (SDGs), Science Based Targets initiative
Certifications: ISO 14001