Esg Risks and Integration by Healthcare Companies

20 Pages Posted: 12 Jun 2024

See all articles by Chidiogo Chime

Chidiogo Chime

Indiana University Bloomington; University of Illinois College of Law; Nigerian Law School Abuja; University of Nigeria Nsukka; American Bar Association; Nigerian Bar Association

Date Written: May 24, 2024

Abstract

ESG practices have recently gained traction amongst companies, regulators, countries, consumers, and employees within the healthcare sector. The need for companies to be accountable to the environment, the community in which it operates, including its employees, and the integrity of its board has become heightened in the wake of climate change and the adoption of the seventeen Sustainable Development Goals by members of the United Nations in 2015. Healthcare companies have been shown to be slow in adopting and integrating ESG practices in their operations. The COVID-19 pandemic has brought the need for healthcare institutions to integrate ESG practices in their operations to the frontline. This article appraises the impact of the operations of healthcare companies on the environment, the community, and the actions of its board and further evaluates ESG practices as they relate to healthcare institutions. It examines the impact of healthcare institutions on the environment, how these sector-related companies can manage their social engagement with their employees and community, and the action of its board in achieving ESG integration. The article further considers the actions undertaken by the United States government and regulators and companies in handling ESG risks by healthcare companies. It concludes that given the enormous impact of healthcare institutions on the environment and its community, ESG integration is a salient issue that must be considered by these companies to increase their reputation and profitability, hence, healthcare companies must join in the ESG trend.

Keywords: CSR, ESG, environmental, social, governance, climate change, health care, pharmaceutical companies, ESG integration, ESG practices, healthcare companies

Suggested Citation

Chime, Chidiogo,

Esg Risks and Integration by Healthcare Companies

(May 24, 2024). Available at SSRN: https://ssrn.com/abstract=4860007 or http://dx.doi.org/10.2139/ssrn.4860007

Chidiogo Chime (Contact Author)

Indiana University Bloomington ( email )

211 S Indiana Avenue
Bloomington, IN 47405
United States
2179532168 (Phone)

HOME PAGE: http://www.linkedin.com/in/ chidiogo-chime-93125a11a

University of Illinois College of Law ( email )

504 E Pennsylvania Ave
Champaign, IL 61820
United States

Nigerian Law School Abuja ( email )

abuja, Nigeria
Abuja

University of Nigeria Nsukka ( email )

Enugu
Nigeria

American Bar Association ( email )

321 North Clark Street
Chicago, IL 60610
United States

Nigerian Bar Association ( email )

Nigeria

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