Deal governance for Life Sciences

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i'm matthew roberts an attorney with nixon pruitt's healthcare and life sciences practice group a key topic in boardrooms in c-suites today is esg which stands for environmental social and governance it's not just a buzzword rather it is a concept that refers to ways that consumers and investors are measuring a company applying non-financial factors to how the company is run life sciences companies have always been leaders when it comes to esg seeing it as a way to clearly demonstrate sustainability health equity and raising levels of public trust in their management as keys to growth opportunities while esg is particularly controversial in some political circles the focus and discussion about these issues does not appear to be going away both for-profit and not-for-profit life sciences organizations serve communities that are increasingly aware of what a socially responsible organization looks like and organizations across the life sciences spectrum realize that there is an opportunity to move beyond platitudes and press releases to build meaningful esg efforts throughout their businesses which leads to positive impacts on everything from supply chain to environmental footprints and from recruiting efforts to executive and board leadership composition for life sciences companies each pillar of esg can have a significant impact on the organization the environmental pillar may be the simplest for a life sciences company to impact and to measure that impact reduction of waste and water use reducing greenhouse emissions and improving supply chain are all ways a company can reduce their environmental impact initiatives underneath the social pillar include establishing a more diverse workforce training and safety initiatives and for pharmaceutical companies diversity of clinical trial participants is a key initiative and one that has the potential to greatly improve drug treatment options and access to health care for a wider range of individuals the governance pillar is another easy opportunity for life sciences companies to lead by example and arguably it is the most critical pillar in a company's esg strategy improving diversity of the board and executive leadership and developing policies to help prevent conflicts of interest and fraud and ethics breaches are key to improve governance having solid strategies in place for governance helps to increase transparency and mitigate risk both in the regulated and non-regulated industries from a legal perspective the regulations and standards around esg are expanding and changing more than just a concept or trend esg has a real impact on the viability of a business model and the valuation performance of a company the attorneys at next pruitt are experienced professionals in esg and how they impact your business particularly in the life sciences space please connect with us to discuss the opportunities your organization is facing today