While large pharmacy chains might have sweeping sustainability goals, even modest, environmentally friendly changes to consumer education and distribution can have a notable impact on costs and reputation for retail pharmacies.
Looking at green pharmacy initiatives on Earth Day
As we approach Earth Day, celebrated globally every year on April 22, many of us will be inspired to consider the impact of our actions on the planet. For business leaders and innovators, it prompts evaluation of environmental, social, and governance – or ESG – policies, a popular framework to assess an organization’s business practices through a lens of sustainability and ethical criteria.
In the retail pharmacy sector, which is growing more complex both financially and in terms of demand for services, ESG initiatives are decidedly back-burner.
That’s not to say some large chains aren’t devoting time and budget to sustainability concerns:
- Albertsons’ “Recipe for Change” ESG Initiative is a four-pillar pledge to reduce emissions and waste and address inequities in communities it serves.
- Rite Aid’s ESG efforts feature goals toward renewable energy use, sustainable procurement, and community-based equity programming.
Nonetheless, in general, retail pharmacy’s priorities must also focus on controlling costs and serving consumers.
And yet, those things are not mutually exclusive to “going green.” Some simple efforts to improve sustainability in the pharmacy setting are also impactful on costs and consumer satisfaction, making environmentally friendly initiatives a win-win for pharmacies.