Sustainable investment
Fostering a healthier tomorrow
At Oriola, we believe that a sustainable future starts with health. We foster a healthier tomorrow through our services and products and minimise the impact of our operations on the environment. Our core business, the wholesale of pharmaceuticals and health products, has an essential and positive role in society and people’s lives.
Sustainability is a key part of our business strategy. High sustainability standards allow us to fulfil our purpose ‘Health for life’. This means that we actively incorporate environmentally and socially responsible practices into our day-to-day operations and decision-making processes.
Our sustainability agenda drives our actions forward and supports us in reaching our ambitious long-term sustainability goals. We create value for various stakeholders throughout the entire value chain from employees to customers and shareholders as well as the communities in which we operate.
Reporting
Oriola reports sustainability information compliant with Global Reporting Initiative (GRI) standards for sustainability reporting. The environmental data in Oriola’s Annual Report has been assured by a third party (limited assurance). Additionally, Oriola reports sustainability key themes according to the Finnish Accounting Act in the Board of Directors' report.
External recognition
Oriola’s actions towards its ambitious sustainability goals have been recognised externally in the following ESG indices:
Climate Disclosure Project (CDP)
In 2022, Oriola received a CDP score C (A- in 2022, B in 2021, on a scale of A-D). Oriola's scoring exceeded average scoring in the company's benchmark group. Oriola has been reporting Climate Disclosure Project’s (CDP) climate change programme annually since 2017. CDP is a non-profit organisation that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts.
EcoVadis
In 2023, Oriola achieved the gold medal in the EcoVadis Sustainability rating. EcoVadis assesses companies’ sustainability performance in the areas of environment, labour and human rights, ethics, and sustainable procurement. Oriola’s rating placed it among the top 5% performing companies worldwide.
ESG risk management
ESG (environment, social and governance) risks, including climate-related risks, are assessed as part of the regular risk management process. The risk management team monitors the level of risks and ensures that the risks are processed appropriately by Oriola’s businesses and shared functions. Monitoring and mitigating risks through open discussion with customers and partners as well as with decision-makers is an important part of the process.
Transition risks related to climate change, such as changes in fossil fuel pricing or stricter environmental regulation causing increased operational expenses, are identified in the process. Risks related to anti-bribery and corruption as well as information security are recognised in the process.
People related risks such as human rights violations in own operations and/or supply chain as well as health and safety risks are highlighted, and mitigation activities assessed along with the Code of Conduct process. Furthermore, Oriola is committed to integrating human rights considerations into its various policies and processes, thereby ensuring alignment with Group risk management. Other sustainability risks include information security risks related to information security and cyber-attack, which Oriola mitigates through security trainings and implementation of data protection tools. As part of information security, continuous mitigations and improvements are done within technical protection, security organisation and security awareness.
Oriola responds to these challenges and sees business opportunities in systematic development of environmental work in collaboration with customers, partners and decision makers. Oriola follows the development of environmental legislation. Commitment to reduce CO2 emissions is one of the selection criteria for Oriola’s transport partners. Oriola evaluates product sustainability in its assortment decisions to meet the increasing demands of consumers.