Subjects: SVY, CSR, ESG
Precision Medicine Group Releases Its Inaugural Annual Environmental, Social and Governance Report
BETHESDA, Md., Dec. 14, 2023 /PRNewswire/ -- Precision Medicine Group (PMG), a leading next-generation provider of drug development and commercialization services, has published its 2023 Environmental, Social and Governance (ESG) Report. This inaugural annual report provides a detailed account of the organization's priorities, which include a focus on doing better for people within the PMG organization and the broader community, including environmental preservation, social well-being and ethical leadership.
"At PMG, our mission is to accelerate development and access to breakthrough therapies that improve the lives of patients in need," said Stacey Hanna, General Counsel and Chief Compliance Officer of Precision Medicine Group. "However, we need to responsibly balance this innovation with its impact on society. To that end, we are focused on meeting substantive ESG goals while being holistic in our approaches."
Highlights of the report, available here, include:
- Solidifying PMG's ESG Strategy: PMG defined the company's approach to ESG, which ladders up to the company's statement of values known as the Precision Principles and created a three-year strategic roadmap for advancing performance across key issues.
- Engaging with Stakeholders to Understand Material Issues: PMG conducted a materiality assessment in 2023 by surveying internal and external stakeholders to understand their prioritization of relevant ESG issues and supplemented with secondary research as a foundational step in enhancing the company's ESG program.
- Giving Back to the Communities We Serve: PMG employees contributed volunteer hours and the company and employees donated $250,000 to more than 70 charitable foundations and causes.
- Focusing on Green Projects: PMG calculated their Scope 1-2 Greenhouse Gas (GHG) emissions and conducted an energy audit of its most energy-intensive facilities in 2022, establishing a baseline for the company's environmental impact. In 2023, PMG initiated various energy efficiency projects and standards across the company's facilities and measured associated emissions reductions from the baseline.
- Advancing Belonging: The company implemented implicit bias training for its leadership teams while launching Employee Resource Groups (ERGs) to reinforce the power of community at PMG.
PMG's investment in ESG will continue as the company works to implement strategic initiatives, programs and policies based on the company's ESG roadmap to advance its goals.
About Precision Medicine Group
Formed in 2012, Precision Medicine Group is a specialized services company supporting next-generation approaches to drug development and commercialization. Precision provides an integrated infrastructure that supports pharmaceutical and life science companies as they develop new products in the age of precision medicine. The company is headquartered in Bethesda, Maryland, with offices throughout North America and Europe. For more information, visit precisionmedicinegrp.com.
For Media Inquiries, Please Contact:
Brad Epstein
Senior Vice President, Marketing Operations
Precision for Medicine
[email protected]
SOURCE Precision Medicine Group
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