- The Federación Española de Empresas de Tecnología Sanitaria, Fenin, together with KPMG, held a conference to present the ‘Sector Pact for Sustainability’, a ‘roadmap’ to support companies in their progress toward responsible and sustainable management models.
- The document is based on the findings of the report “The ESG Challenges of the Healthcare Technology Sector”, which outlines the environmental, social, and governance initiatives most widely implemented in the Healthcare Technology industry, key regulatory requirements, and the challenges, barriers, and opportunities in this field.
The Healthcare Technology Sector maintains a firm commitment to sustainability and the implementation of ESG policies and strategies across its three pillars: governance, social, and environmental. However, it is necessary to continue strengthening collaboration among all stakeholders to respond to current challenges in this field and consolidate the “ESG culture” throughout the healthcare ecosystem. These are some of the conclusions drawn from the conference “Commitment and Future of the Healthcare Technology Sector with Sustainability,” organized by the Federación Española de Empresas de Tecnología Sanitaria, Fenin, in collaboration with the consultancy firm KPMG.
Within the framework of this conference, the ‘Sector Pact for Sustainability’ was presented—a ‘roadmap’ with ESG commitments to guide sector organizations in their transition toward responsible and sustainable management models. “Companies in the Healthcare Technology sector are fully aware of the importance of integrating ESG into their business strategy and activity to contribute to sustainable development, generate a real positive impact on the value chain, and improve the commitment to social well-being and our environment. Furthermore, committing to sustainability implies a return for the companies themselves,” noted Carmen Aláez, Assistant to the General Secretariat of Fenin. With initiatives such as this report, “Fenin acts as a lever to continue driving sustainability, facilitate collaboration with other agents in the healthcare system, be a voice for progress, and accelerate the sustainable transition,” she added.
This Sector Pact for Sustainability draws from the conclusions of the report “The ESG Challenges of the Healthcare Technology Sector”, prepared by Fenin and KPMG, which was also presented during the session. Among other matters, the report reflects the main ESG initiatives implemented in the Healthcare Technology industry, regulatory requirements and trends at the national and European levels, as well as the challenges, barriers, and opportunities to continue strengthening the “ESG culture” through public-private collaboration. Likewise, the document gathers the perceptions of external stakeholders of the Healthcare Technology industry (public administrations, healthcare evaluation and regulatory agencies, public and private hospitals, and other key sector agents).
Most Established Initiatives
The relevant ESG initiatives in the Healthcare Technology sector include the reduction of GHG emissions and carbon footprint, eco-design, and lower resource consumption (environmental axis); investments in human capital training in sustainability, “transparent and ethical” marketing in product promotion and labeling, and promoting access to healthcare technologies for disadvantaged populations (social axis); as well as policies of good governance, business ethics, and data privacy and security (governance axis).
Regarding the barriers identified by companies and external agents, highlights include, among others, the complex and strict regulation governing the Healthcare Technology sector (which can hinder the introduction of “sustainable” changes in packaging, waste management, and distribution), the still high economic impact of implementing sustainable strategies, and the lack of unified criteria and calculation methodologies for reporting sustainability-related data. Consequently, as challenges and opportunities for improvement in ESG, the report advocates for advancing “networked” work and alliances between the public and private spheres, the use of standardized public ESG tools (allowing for harmonized criteria, easier comparisons, and efficient environmental impact assessment), and defining homogeneous ESG criteria in public procurement specifications for healthcare technology (known as “green procurement”).