Clarivate Plc, a global leader in providing trusted intelligence to drive transformation, has released its highly anticipated third annual sustainability report. The report showcases Clarivate's progress in advancing Environmental, Social, and Governance (ESG) initiatives, particularly in alignment with the United Nations Sustainable Development Goals (SDGs), in collaboration with its customers.
In 2022, Clarivate achieved significant milestones, notably attaining the 90th percentile in the S&P Corporate Sustainability Assessment (CSA) for the Professional Services industry. Within just two years, the company's score increased from 11 to an impressive 56. Building on this accomplishment, Clarivate has set ambitious goals for 2023, aiming to elevate its S&P CSA score from 56 to 62. Additionally, the company plans to establish a science-based target by the end of 2024 and achieve net-zero emissions for all known and measurable sources before 2040.
The sustainability report highlights key findings from 2022: 46% of Clarivate's revenue aligns with the UN SDGs; 55% of companies ranked in the Dow Jones Sustainability Index World Index 2022 collaborate with Clarivate; Clarivate supports over 81 million patients by enhancing their understanding of medicines for chronic diseases; More than 130 million students utilize Clarivate solutions to enhance their learning and research experiences; The Web of Science™ includes over 4 million citations related to SDG research areas; Clarivate facilitated over 80 health technology assessments in the last three years, expediting the approval of life-changing drugs; The Derwent World Patent IndexTM comprises over 7 million inventions related to green energy technologies; Over 26,000 public and academic libraries rely on Clarivate solutions to deliver quality education; and 48 out of the top 50 R&D companies collaborate with Clarivate to accelerate innovation.
Clarivate's commitment to sustainability extends beyond its business operations. The company provides 40 hours of paid volunteer time off for all employees to make a positive impact in their communities. In 2022, Clarivate colleagues collectively volunteered more than 25,000 hours worldwide.
Liliana Hinderman, Vice President and Chief Risk and Sustainability Officer, expressed her enthusiasm for Clarivate's progress in aligning products and solutions with the United Nations SDGs. She emphasized the company's dedication to embedding sustainability within its culture and aligning mission and strategy to drive global impact. To maintain focus and demonstrate ESG commitment, Clarivate has set ambitious targets for the business in 2023 and beyond.
The sustainability report includes a comprehensive "materiality mapping" exercise that quantifies contributions and maps solutions to the 17 United Nations SDGs. This exercise provides an overview of Clarivate's sustainability efforts, featuring specific case studies and customer stories. It identifies four key focus areas where the company has the most significant impact: SDG 3 (Good health and well-being), SDG 4 (Quality education), SDG 9 (Industry, innovation, and infrastructure), and SDG 12 (Responsible consumption and production).
Clarivate's sustainability report underscores the company's unwavering commitment to driving positive change and contributing to a sustainable future. By actively aligning its operations and solutions with the United Nations SDGs, Clarivate continues to solidify its position as a leader in ESG practices within the industry.
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