Last update – 18/10/2018

A few months ago, Greenfish started developing a new project: the Green Improvement Index (GII), first for pharmaceutical companies. Participation will help companies to evaluate their sustainability and transparency practices, and to improve on these over the years. Rooted in our Greenfish vision to “greenify the business environment”, the GII helps companies to zero in on a series of environmental impacts, most of which can be improved in terms of sustainability. Besides, as an important vector of sustainability, a transparency evaluation is considered fundamental for the participant’s credibility and consistency in the eyes of the public.

The process is quite easy for companies willing to participate: Greenfish has created a questionnaire made up of 80% binary questions and requiring no exact figures and performance indicators of companies. Participants send information related to the categories of the survey, namely management, energy, mobility, supply chain, safety, and innovation and partnerships (Figure 1). With these documents and publicly available information, Greenfish fills out the questionnaire as much as possible. Then, the company takes a couple of hours to complete the remaining questions.

Figure 1 – Our Methodology

 

From these answers, Greenfish derives both a sustainability and transparency score, as well as scores for each sub-category of the questionnaire. These scores allow the company to gain perspective on its strengths and weaknesses. Greenfish continues to help by providing the results in a visual report and by finding improvement tracks during a workshop with the participant. The latter includes consultants and experts of Greenfish’s ecosystem.

The end of the first edition of the Green Improvement Index falls in line with the end of the summer. The selected companies are active in the pharmaceutical industry and have a production site in Belgium. Greenfish chose this industry because of its highly polluting elements, and therefore its large potential for improvement. Furthermore, a greener environment goes along with a healthier life style, which is the quintessence of a pharmaceutical firm.

Even if it would be ideal for the pharmaceutical industry to be the first to greenery, Greenfish does not wish to confine its efforts to this sole industry. We aim to broaden our reach in the near future.

Last but not least, to follow the development of the project, the Green Improvement Index becomes the Sustainable Value Assessment!

For more information about the project or specific questions on how to participate, feel free to contact us at green_index@greenfish.eu. We would be delighted to bring you up to speed.