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January 12, 2021 /3BL Media/ - Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) has announced long-term environmental sustainability commitments and targets to provide direction and drive action in this area. Our new goals are part of Teva’s commitment to Environmental, Social and Governance (ESG) measurement, a key focus area for the business. ESG details how we achieve our business goals, underscores non-financial performance, and is considered critical to our long-term sustainability and success.
These environmental sustainability commitments are aligned to three areas of focus that were identified during the company’s recently completed ESG materiality analysis, which informed the development of our renewed strategy:
Environmental, Social, and Corporate Governance (ESG) indicators refer to the three central factors in measuring the sustainability and societal impact of an investment in a company or business. These non-financial metrics are used as part of an analytical process to identify material risks and growth opportunities:
Environmental criteria consider how a company performs as a steward of nature
Social criteria examine how it manages relationships with employees, suppliers, customers, and the communities in which it operates
Governance criteria deal with a company’s leadership, anti-corruption mechanisms, internal controls, and shareholder rights
In practical terms, the ‘S’ in ESG criteria focuses on human rights issues relevant to business, including modern slavery, child labor, land rights, inequality, diversity, employee relations, health and safety, privacy, and human capital management.
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CFOs this year can probably refocus some of their energy away from coping with the pandemic and toward the challenges and opportunities posed by changes in technology, regulation and other trends.
Some changes are outside a CFO s control, such as the economic outlook or shifts in oversight and tax policy under the incoming Biden administration.
Other trends are within CFOs wheelhouse, and are easier to control. Here s a look at five of these trends.
1. Increased pressure to adopt ESG metrics
Companies should consider preparing for greater scrutiny on environmental, social and governance (ESG) sustainability metrics from investors, regulators and the public.
Tuesday, December 29, 2020
Public companies will be required to disclose climate risks and greenhouse gas emissions under President-elect Biden’s administration. The Securities and Exchange Commission (SEC) will institute rulemaking and guidance on the federal monitoring of environmental, social and governance (ESG) issues. The Biden administration’s decision to require climate report disclosures follows complaints from investor advocacy groups about inconsistent disclosure practices due to voluntary reporting frameworks.
Under the outgoing Trump administration, SEC Chairman Jay Clayton relied on a “principles-based approach” to climate disclosure. Through this approach, the SEC loosened certain requirements for companies under Regulation S-K and relaxed conflict-of-interest rules for independent auditors under Regulation S-X. Requirements were eased this past August and October in a pair of highly controversial split decisions.