Our sustainability statement
Purpose, People and Planet
Our sustainability vision is guided by the Ferring Philosophy, which means placing people at the heart of our business in a culture based on respect, integrity and doing the right thing. In our mission to become the world-leading, most trusted healthcare company in reproductive medicine and maternal health, and a leader in specialty areas within gastroenterology and urology, we are committed to conducting a responsible business and achieving sustainable growth built on our core values and strong ethical heritage.
Guided by our commitment to the United Nation’s Sustainable Development Goals in pursuit of a better future for all, our approach is focused on three pillars: Purpose, People and Planet.
Purpose: ensuring responsible and ethical business governance to advance our mission to build families and help people live better lives.
People: creating value for society by positively impacting the communities in which we operate. Protecting the health and wellbeing of our patients and employees.
Planet: protecting the environment by reducing our negative impacts to contribute to a better future.
Our commitment will be driven by an integrated strategy with clear, impactful and measurable goals to ensure we can demonstrate progress to our stakeholders. We will harness our scientific expertise and research to continually improve the outlook for our patients. We will advance our sustainability vision to contribute to a fair and inclusive society and to protect the planet, creating a better future for the generations to come and strengthening our mission to build families and help people live better lives.
Since the we started out, Ferring has been guided by strong family values and ethical principles, which are reflected in the Ferring Philosophy. As an ethical company, we care not just about our bottom line; we want to do business in the right way. It is important for us that not only the end-product but also our path to that end-product is ethical and sustainable. This means having a focus on our societal responsibility. We strive to carry out business in a way that maximises the positive and minimises the negative impacts on the communities and world around us.
Our sustainability pillars
Being an ethical company means that we focus on sustainability throughout the entire value and production chain and we work hard to ensure that our operations live up to our ethical standards.
Our Supplier Conduct Principles
As a global company, we engage with a large number of suppliers across the world. We work to ensure that our suppliers adhere to the same ethical standards as we do. When selecting suppliers, we take into account potential suppliers’ sustainability policies and practices. We have a set of Supplier Conduct Principles that we ask our suppliers to adhere to, and we also ask our suppliers to apply similar standards in their own supply chains. Our Supplier Conduct Principles are based on the Pharmaceutical Supply Chain Initiative’s Principles for Responsible Supply Chain Management.
Supplier selection and engagement
Sustainability is important in our selection of all our suppliers. It is the company criteria with the highest weighting in our supplier selection matrix. We make efforts to ensure all our suppliers and collaboration partners adhere to the same sustainability standards as we do. We know that sustainability is an ongoing endeavour and our approach is one of continuous improvement when it comes to addressing any shortcomings we identify.
To identify any areas of improvement, we ask our key suppliers to complete a self-assessment questionnaire about sustainability which we use as a basis for our continuous dialogue with them. If a supplier is not performing according to our Supplier Conduct Principles, we will work with the supplier to make the necessary improvements.