West Pharmaceutical Services Releases 2021 Corporate Responsibility Report

Rhea-AI Summary

West Pharmaceutical Services (NYSE: WST) has published its 2021 Corporate Responsibility Report, highlighting significant progress in environmental sustainability, diversity, and philanthropic efforts. Key achievements include the establishment of an ESG Steering Committee, an increase in waste diversion from landfills to 85%, and a 72% rise in employee giving. Notably, 64% of the Executive Team comprises women or U.S. minorities. The report aligns with global sustainability standards, reinforcing West's commitment to improving patient lives while managing its corporate responsibilities.

Positive

• ESG governance enhancements with the formation of an ESG Steering Committee.
• 85% of global waste diverted from landfill, an increase from 77% the previous year.
• Improved water and energy intensity ratios, indicating better resource efficiency.
• 64% of the Executive Team composed of women and/or U.S. minorities.
• 72% increase in total employee giving compared to the previous year.

Negative

• None.

EXTON, Pa., July 12, 2022 /PRNewswire/ -- West Pharmaceutical Services, Inc. (NYSE: WST), a global leader in innovative solutions for injectable drug administration, has recently released its 2021 Corporate Responsibility Report, reporting on the Company's environmental, social, and governance (ESG) performance in 2021.

This is West's 6^th annual CR Report, and highlights ESG successes from over the past year, including progress on environmental sustainability goals, diversity and inclusion, and success around the Company's philanthropic efforts.  It also highlights some of the recognition received for its ESG performance, including placement in Barron's Top 100 Most Sustainable Companies, Corporate Social Responsibility Programme of the Year from Pharma Industry Awards in Ireland, and a Silver Stevie Award for Corporate Social Responsibility.

"At West, we are driven by our purpose to improve patient lives. We know that to fulfill this purpose effectively, we must consider our broader corporate responsibilities to the wide range of stakeholders we serve," said Eric M. Green, President, Chief Executive Officer and Chair of the Board.  "Much of our long-term success can be credited to our focus on building a diverse team, putting quality at center stage, operating with integrity, giving back to our communities, managing our environmental footprint, and caring for the health and safety of our team members – all of these combined makes for a better performing company now and into the future."

Some of the key 2021 highlights include:

• ESG Governance changes, including the establishment of an ESG Steering Committee, new areas of priority focus for the future and additional oversight by West's Board of Directors
• Global waste to landfill for all West manufacturing sites continued to improve, with 85% of global waste diverted from landfill, up from 77% the prior year
• Both water and energy intensity ratios improved over prior year, meaning less energy and water is being used for each product produced
• 64% of West's Executive Team is made up of women and/or U.S. minorities
• 7 of West's manufacturing sites had zero recordable safety incidents in 2021
• Total employee giving increased by 72% from 2020
• Team member donations to West's Annual Global Food Drive increased by 56% over prior year

In addition to the CR Report, West also provides transparency in disclosure through alignment with the United Nations Sustainable Development Goals, the Sustainability Accounting Standards Board (SASB) Index, and the Task Force on Climate-Related Financial Disclosures (TCFD).

Please read the full CR Report here to learn more about West's commitment to ESG.

About West
West Pharmaceutical Services, Inc. is a leading provider of innovative, high-quality injectable solutions and services. As a trusted partner to established and emerging drug developers, West helps ensure the safe, effective containment and delivery of life-saving and life-enhancing medicines for patients. With approximately 10,000 team members across 50 sites worldwide, West helps support our customers by delivering over 45 billion components and devices each year. 

Headquartered in Exton, Pennsylvania, and in business for nearly a century, West in its fiscal year 2021 generated $2.83 billion in net sales. West is traded on the New York Stock Exchange (NYSE: WST) and is included on the Standard & Poor's 500 index. For more information, visit www.westpharma.com.

All trademarks and registered trademarks used in this release are the property of West Pharmaceutical Services, Inc. or its subsidiaries, in the United States and other jurisdictions, unless otherwise noted.

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SOURCE West Pharmaceutical Services, Inc.

FAQ

What achievements did West Pharmaceutical Services report in 2021?

West Pharmaceutical Services highlighted key achievements in its 2021 Corporate Responsibility Report, including improvements in sustainability and diversity.

How much waste did West Pharmaceutical Services divert from landfills in 2021?

In 2021, West diverted 85% of its global waste from landfills, up from 77% the previous year.

What percentage of West's Executive Team is made up of women or U.S. minorities?

64% of West's Executive Team consists of women and/or U.S. minorities.

How did employee giving change in 2021 at West Pharmaceutical Services?

Total employee giving at West increased by 72% in 2021 compared to the previous year.

What is the significance of West's 2021 Corporate Responsibility Report?

The report underscores West's commitment to environmental, social, and governance (ESG) performance and aligns with global sustainability standards.