The pharmaceutical industry is getting some green love. No, it's not money, but these developments will eventually help the companies' bottom line.
Seven pharmas, led by Johnson & Johnson, made Newsweeks' 2010 Green Rankings global 100 list. Other pharmaceutical companies on the list are GlaxoSmithKline, Novartis, Pfizer, Sanofi Aventis, Roche Holding and Bayer.
Companies are ranked on greenhouse gas and toxic waste emissions, corporate environmental policies and regulatory compliance.
Newsweek partnered with MSCI ESG Research, Trucost, ASAP Media and CorporateRegister.com for the assessment.
James Salso, Trucost research lead for the Green Rankings, blogged that the rankings, now in their second year, are causing a stir with companies issuing press releases and watching their competition.
"I expect to see continued dialogue and debate surrounding the Green Rankings, and that's a very good thing," says Salo. "Thought and conversation can lead to action, and action is needed to move the needle towards more environmentally efficient organizations and sustainability overall."
Even Greenpeace has taken notice of the rankings. The environmental group singled out not pharma but the IT industry for not doing enough to reduce greenhouse gas emissions.