Bausch Health releases inaugural Environmental, Social and Governance Report

Bausch Health releases inaugural Environmental, Social and Governance Report

As our world continues to transform at an unprecedented pace, we remain committed to our mission of improving people’s lives with our health care products. An integral part of our ability to achieve our mission is a focus on sustainability, and in identifying current and emerging environment, social and governance trends. Doing so plays a key role in helping us understand the needs of our patients and customers, and in ensuring the viability of our own business.

Last year was one we will never forget. The global COVID-19 pandemic impacted our businesses around the world as social unrest weighed on many of our colleagues, our communities and our customers. It was a trying and anxious year for all.

Throughout the pandemic, our top priorities have been to make sure that our employees were safe and that we were able to maintain a steady supply of our medicines and health care products to the more than 150 million people around the world who rely on them every day. We continued to support patients and offered certain of our prescription medicines free of charge through our Bausch Health Patient Assistance Program, especially to those who may have lost their health insurance during the pandemic. Finally, we initiated clinical trials to find new methods to treat COVID patients and donated products to health care practitioners and frontline workers.

We further strengthened our focus on Diversity, Equity & Inclusion with additional programs and training. We are dedicated to fostering a work environment where everyone feels welcomed, supported and valued for their talents and contributions. Within this report, we also further discuss our Employee Resource Groups, which provide opportunities for professional growth, development and informal networking.

Our focus on reducing the environmental impact of our operations continues to yield impressive results. For example, over the past three years, we reduced monthly water consumption by some 40% and the amount of solid waste generated monthly by nearly 80%, as well as a more than 60% increase in waste that is reused or recycled off-site.

Another aspect of the transformation I referenced earlier in this letter is the continued stakeholder scrutiny around Environment, Social and Governance (ESG) performance. While our organization has had a longstanding commitment to sustainability initiatives, in 2021 we are undertaking an initiative to better understand how they drive our long-term business and strategies.

As part of our work to formalize our ESG efforts, we’ve made the decision to rebrand our Corporate Social Responsibility Report to an Environment, Social and Governance Report, as we believe this better reflects our incorporation of these areas as core to our business, as well as our expanded scope of associated activities. We are taking steps to organize a more robust ESG program with the full participation of our Board of Directors and Executive Committee, as well as outside advisors. Specific outputs of this work include:

  • Establishing a cross-functional ESG Steering Committee
  • Rolling out an ESG Scorecard and
  • Creating an ESG Reporting Strategy

And, we will leverage this initiative as we continue our efforts to separate into three strong, independent companies with their own integrated ESG programs. To guide our efforts, we will conduct a materiality process where we will engage key stakeholders to help build a more strategic approach to managing and tracking our performance against priority sustainability issues. We expect to report on our progress in much greater detail in the months to come.

Together with the contributions of our Bausch Health colleagues and support of our stakeholders, we continue to grow our organization into an innovative company dedicated to advancing global health. It is our hope that this inaugural ESG Report provides a picture of our current and forward-looking sustainability efforts and results.

https://www.bauschhealth.com/Portals/25/PDF/BauschHealthCSRReport2021.pdf

Best regards,
Joseph C. Papa
Chief Executive Officer and Chairman of the Board