Sustainability in the Life Science Industry

An event to discuss sustainability for enterprises within the life science industry in New York.

On November 10, Campana & Schott and the German American Chamber of Commerce hosted an event to discuss sustainability for enterprises within the life science industry. The event, which took place in New York City, presented an excellent opportunity to network with industry leaders and discuss corporate sustainability implications alongside ESG. The keynote speakers were Eric Schott, CEO of Campana & Schott, and Daniel Jonas, CEO of Campana & Schott USA. 

Companies still need to understand that sustainability goes beyond protecting our natural environment and climate, especially for the life science industry. Following the sustainable development goals established by the United Nations, companies leverage their social, economic, and cultural impact by setting sustainable standards. However, the perception of sustainability as an opportunity, not a cost driver, needs to be promoted further across the industry. Companies can undergo transformation in profitable ways and simultaneously increase sustainable practices.

Eric Schott´s key takeaways from the evening include the following:
  • Think of customer-centric sustainability: We must include consumer perception regarding sustainability during product development. 
  • Being diverse and leveraging diversity are two different things. Leveraging diversity can create new markets with new sustainable products and services. There are a few examples that show how this is done successfully. 
  • Sustainability and economic growth complement one another. Yet the challenge most businesses face is proving the monetary impact of their sustainability efforts. It´s time to design how to overlap a traditional “Return on Investment” with a “Return on Sustainability Investment”. 
After the event, Daniel Jonas summarized:

“Our panelists showed that sustainability touches the entire value chain far beyond ‘green’. We have seen the value of health for societies and what sustainable healthcare looks like. We got examples of how being sustainable gives many products a competitive edge and how to calculate the ‘Return on Sustainability Investments’. We have seen how true diversity and inclusion impact new product designs and create entirely new markets. At Campana & Schott, we believe partnerships across organizations and borders are crucial for the sustainability transformation ahead of us. The event was another great example of excellent collaboration across borders.”