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Corporate Social Responsibility
Our vision
Our CSR approach
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Corporate Social Responsibility (CSR) lies at the core of sanofi-aventis’ business. Being a healthcare partner involves promoting social progress, economic development and respect for the environment as well as acting ethically and responsibly. The CSR approach places the patient at the center of the Group’s business activities. It is an approach that constantly seeks a balance between access to healthcare, innovation, respect for intellectual property rights and sustainability of healthcare systems. Lastly, as an integral part of the Group’s strategy and values, CSR is essential to our vision for the future: delivering sustainable growth.
The Group expresses its responsibility as a global healthcare company through its CSR approach, which since 2008 was based on four key areas that take as their reference the United Nations “Agenda 21” blueprint for sustainability in the 21st century.
- Patient 21: the patient at the center of the Group’s business activity
- Ethics 21: ethics in action
- People 21: employees and local communities
- Planet 21: environmental performance
Identifying CSR challenges to further limit risks
For nearly ten years, analysts and investors have included the financial impact of businesses’ CSR performance in the evaluation of opportunities and risks. This approach is consistent with economic regulatory reforms, which have gradually expanded the definition of significant risks to include CSR challenges (1). Sanofi-aventis carefully monitors the CSR challenges that are currently considered to be significant from a financial and extra-financial viewpoint in order to anticipate any new developments.
Involving stakeholders to better establish priorities
To complement the process used to identify CSR challenges, the Group has adopted the approach recommended by the GRI (Global Reporting Initiative) and AA1000 standards. Internet links: GRI and AA1000.
Moreover, in 2009 the Group conducted a new materiality test by giving greater weight to stakeholders’ expectations in the reporting framework. This decision was part of the transformation process designed to make the Group more open to external growth. Working alongside consultants from Deloitte, the Group also adapted its approach to CSR reporting. The key CSR challenges for sanofi-aventis were identified firstly based on the Group’s strategy and the reporting structure from previous years, and according to the GRI and LEEM (the French pharmaceutical companies association) indicator grid. These challenges were then further qualified based on two groups of criteria: - 1. Those specific to sanofi-aventis and to the pharmaceutical sector from a business perspective: the Group’s strategy and expertise, benchmarking from peer companies and outside expertise (Deloitte);
- 2.Those external to sanofi-aventis and to the pharmaceutical sector in terms of stakeholder expectations: stakeholder consultation (employee representatives, patient organizations, healthcare professionals, NGOs, rating agencies, etc.) press reviews, questionnaire analysis (SAM, EIRIS, Vigeo) and assessments by financial and extra-financial analysts (CSR-Europe)*.
Adapting the CSR reporting structure to stakeholders’ expectations
The materiality test made it possible to define and prioritize CSR challenges for the Group. The reporting structure was adapted based on these findings: - The CSR Report covers the most significant challenges, with more in-depth information available on the sanofi-aventis CSR website.
- Other challenges are addressed in detail on the Group’s CSR website.
CSR challenges for sanofi-aventis
CSR challenges for sanofi-aventis are described in the table below. The table specifies, for each challenge, where information is available to illustrate Group’s engagements and achievements : CSR report and/ or sanofi-aventis CSR website.
- 1.See in particular the Sarbanes-Oxley Act in the United States, the NRE Law (Nouvelles Régulations Economiques) in France and the 2004 debate on the Operating and Financial Review (OFR) in the UK
- * The information in italics identified by an asterisk was reviewed by the Statutory Auditors, who expressed an assurance specifically concerning these data. Their assurance statement, describing the work they performed as well as their comments and conclusions, appears in the sanofi-aventis 2009 CSR Report and on the Group’s 2009 CSR website (section: Statutory Auditors’ Review).
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