Parexel Releases 2023 Environmental, Social and Governance Report
DURHAM, N.C., July 29, 2024 (GLOBE NEWSWIRE) — Parexel, one of the world’s largest clinical research organizations (CROs) providing the full range of Phase I to IV clinical development services, today announced the release of its 2023 Environmental, Social and Governance (“ESG”) Report. The ESG Report is part of Parexel’s annual commitment to disclose and communicate the progress of its sustainability priorities, underscoring the company’s core values of putting Patients First and delivering With Heart™.
“Our ESG progress in 2023 reflects our ongoing commitment to making a positive impact on the world around us by integrating sustainable, ethical practices into and across our business and our care for patients to transform the future of medicine,” said Peyton Howell, Chief Executive Officer. “I’d like to thank our team for their dedication to ensuring this progress continues. We recognize that sustainability is a journey, not an endpoint, and as a team, each of us at Parexel remains committed to using our resources to not only meet but exceed our ESG goals in pursuit of creating a healthier planet and improving the lives of the patients we serve.”
Highlights of the company’s progress include:
Advancing Opportunities for Parexel’s Workforce
Parexel’s diverse global workforce fuels creativity and innovation to better address complex challenges and push the boundaries. In 2023, women represented 70.2% of Parexel’s workforce, including 45.6% of all employees at Vice President-level and above.
Parexel fosters an environment where everyone feels empowered to contribute to the company’s success, and the company’s Talent Philosophy is designed to support colleagues globally in realizing their full potential across all stages of their career. In 2023, Parexel launched its Managers Matter initiative, designed to engage, inform and inspire the company’s 2,300 Line Managers with comprehensive support and resources to develop and lead their teams.
In recognition of these and many other Diversity, Equity and Inclusion (DEI) efforts, Parexel joined DisabilityIN as a corporate partner and participated in their global disability inclusion index pilot and the Human Rights Campaign’s 2023 Corporate Equality Index. The company also won the Healthcare Businesswomen’s Association 2023 ACE Award for its work advancing women in leadership.
Actively Managing and Improving Sustainability Performance
Parexel is consistently looking for ways to reduce its environmental footprint while increasing operational excellence across its business and has made progress toward its ambitious environmental goals. In 2024, Parexel submitted science-based emission reduction targets for validation with the Science Based Target initiative (SBTi), setting a pathway to achieve net-zero value chain greenhouse gas (GHG) emissions (Scopes 1, 2, and 3) by 2050.
The company continues to ensure it is reducing emissions by enhancing energy efficiency in buildings and counterbalancing emissions produced by our fleet of vehicles and our third-party providers. Parexel made this a priority focus in 2023 and for the second consecutive year it achieved a 100% renewable energy goal to counterbalance all Scope 2 emissions.
Parexel also participated in the EcoVadis assessment process for the ninth consecutive year, increasing its score to 60 points from 58 points in 2022 and maintaining its Silver rating and ranking in the top quartile of companies for the second straight year. The accomplishments of its environmental program place Parexel in the top 7% of organizations in the scientific research and development category and its sustainable procurement program ranks us in the top 1% in the field.
Enhancing the Engagement and Experience of Patients Worldwide
Through its collaborations with patient advocacy and social organizations around the world, Parexel continues to provide education, drive awareness and reduce barriers to participation through the design of inclusive clinical trials with its partners for all study phases.
In 2023, Parexel engaged with more than 75 patient advocacy groups around the world to support the needs of patient communities and elevate awareness of clinical trials. The company continuously refines its approach to support patients holistically, especially in populations that have been historically underrepresented as the industry adapts to a changing regulatory environment.
Operating with Integrity
Parexel leads with its core values – Patients First, Quality, Respect and Empowerment and Accountability – and conducts businesses with honesty, integrity and respect. An important element of the company’s commitment to these standards is its compliance program.
In 2023, Parexel established principles for responsible Artificial Intelligence (AI) and has created a robust governance structure with the creation of its AI Steering Committee to ensure safety, efficiency and regulatory compliance in the use of this technology.
The company has also introduced the Parexel Precision Pathway, reinforcing its commitment to product quality and safety. This end-to-end operational approach is designed to prioritize the timely delivery of clean data while enhancing efficiency, quality and predictability.
To view Parexel’s 2023 ESG Report, please visit: https://newsroom.parexel.com/esg
About Parexel
Parexel is among the world’s largest clinical research organizations (CROs), providing the full range of Phase I to IV clinical development services to help life-saving treatments reach patients faster. Leveraging the breadth of our clinical, regulatory and therapeutic expertise, our team of more than 21,000 global professionals works in partnership with biopharmaceutical leaders, emerging innovators and sites to design and deliver clinical trials with patients in mind, increasing access and participation to make clinical research a care option for anyone, anywhere. Our depth of industry knowledge and strong track record gained over the past 40 years is moving the industry forward and advancing clinical research in healthcare’s most complex areas, while our innovation ecosystem offers quality solutions to make every phase of the clinical trial process more efficient. With the people, insight and focus on operational excellence, we work With HeartTM every day to treat patients with dignity and continuously learn from their experiences, so every trial makes a difference. This approach continues to earn us recognition industrywide, with Parexel being named “Best Contract Research Organization” in November 2023 by an independent panel for Citeline, “Top CRO to Work With” by investigative sites worldwide in the 2023 WCG CenterWatch Global Site Relationship Benchmark Survey and recipient of the 2023 Society for Clinical Research Sites (SCRS) Eagle Award for advancing the clinical research profession through strong site partnerships. For more information, visit parexel.com and follow us on LinkedIn, X, Facebook and Instagram.
MEDIA
Lori Preuit Dorer
+1 513 496 8121
Lori.Dorer@parexel.com
Addison Stallings
+1 984 833 6362
Addison.Stallings@parexel.com
