Swiss pharmaceutical and chemical industry leads the way in sustainability
Published: Friday, Nov 8th 2024, 13:20
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The Swiss chemical-pharmaceutical industry is a leader - both in terms of competitiveness and sustainability. This is according to a study by the consulting institute BAK Economics.
According to the study, the chemical and pharmaceutical industry in Switzerland improved its economic competitiveness in the international ranking. It is now in second place, just behind the USA, and even in first place in terms of environmental sustainability, according to the "Global Industry Competitiveness Index 2024" compiled on behalf of the Scienceindustries Switzerland association.
According to the report, this confirms the industry's strong commitment to the environment and its high level of competitiveness in an increasingly challenging global environment. "The tense geopolitical and economic situation worldwide places high demands on our export-oriented industries," Scienceindustries President Matthias Leuenberger is quoted as saying.
Top position defended
Nevertheless, the local chemical and pharmaceutical industry has once again impressed: "It is one of the most competitive in the world and has been one of the top 3 locations for five years in a row." At the same time, Switzerland also has certain weaknesses, as the GICI shows.
For example, Switzerland is "substantially behind" when it comes to digitalization. There is also an "urgent need for action" when it comes to product regulation and trade barriers.
The report also states that stable trade relations are key for export-oriented industries. For this reason, the progress made in the Federal Council's negotiations with its most important trading partner, the EU, is positive.
Focus on sustainability
In this year's survey, the focus was on environmental sustainability, the association explained further. And the chemical-pharmaceutical industry in Switzerland received the best score compared to the largest European locations.
An environmental index was calculated on the basis of greenhouse gas emissions per value added, energy consumption per value added and investments in environmental technologies. This allowed conclusions to be drawn regarding the environmental impact of economic growth.
In spring, Scienceindustries adopted a sustainability strategy based on the 2050 net-zero target and the UN Sustainable Development Goals. However, in order to achieve these goals - without weakening international competitiveness - good framework conditions are required.
According to Scienceindustries, this includes risk-based and future-oriented chemicals regulation, the promotion of technological openness in research, energy supply and sustainable food systems as well as stable trade relations.
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