Sasja and his team visited the areas Hyderabad and Visakhaptanam. They spoke to drug manufactures, local citizens and government authorities.
“We observed terrible water pollution, coming from the production of drugs supplied to the Western-based pharmaceutical industry. As a responsible investor and shareholder in many pharmaceutical companies, we decided to engage with them to make a change. We took initiative to commission an independent on-the-ground investigation,” explains Sasja Beslik.
Action plan from the industry
The investigation found that the situation was very serious, and that there was systematic dumping of chemical waste into rivers, lakes and the groundwater. The report found links between the polluting manufacturers and large multinational pharmaceutical companies. Several of these multinational companies are members of the industry-led Pharmaceutical Supply Chain Initiative (PSCI).
“We presented our findings and views to PSCI, and also expressed our expectations towards the pharma industry’s supply-chain and waste water management on its annual meeting in April 2016. This resulted in a PSCI action plan where our expectations were addressed. It includes direct follow-up with suppliers regarding waste water management and pollution and auditing of waste disposal facilities in the region. We have regular meetings with the industry to monitor progress on the action plan,” says Sasja Beslik.
In this recent film Sasja Beslik tells us about the meeting with PSCI.
See the whole mini documentary from 2015..
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Our work Responsible investment
It is our pleasure to present the Nordea Asset Management Annual Responsible Investment Report for 2016.