ARTICLE SUMMARY:
While plenty of uncertainty around sustainability remains, it is clear that medtechs and other healthcare suppliers will need to take action to stay abreast of evolving regulation and customer expectations. Sustainability is here to stay, and the pace of change is likely to accelerate due to network effects. By Ilya Trakhtenberg, Jonas Funk, Stuart Jackson, John Goddard, and Kate Boynton, L.E.K. Consulting.
In an era marked by escalating environmental concerns, the discourse around sustainability has shifted from a peripheral consideration to an emerging imperative for global corporations. ~40% of Fortune Global 500 companies and ~80% of FTSE 100 companies have set net zero carbon emissions targets. While the pace of change varies across global regions and sectors, momentum is clearly building. This reflects a confluence of factors: increased regulation, changing cultural norms and generational expectations, increased availability of tools, talent, and third parties disseminating best practices, and cascading network effects from organizations requiring emissions reporting and reductions from their suppliers. While the healthcare industry and medtech, specifically, has been relatively slower to embrace environmental sustainability, the pace of change is accelerating too.
