Key Highlights from 2024:
Parma, June 4th 2025 – Chiesi, the international R&D-focused biopharmaceutical group headquartered in Parma, Italy, with 31 affiliates worldwide, has published its 2024 Sustainability Report, reaffirming its long-term commitment to responsible business practices through substantial investments and measurable progress across four key areas of impact: Patients, Planet, People, and Prosperity.
Chiesi, as a Benefit Corporation and certified B Corp, is committed to measuring, improving, and transparently reporting its social and environmental impact. Since 2017, the company has published a voluntary Sustainability Report in accordance with the Global Reporting Initiative (GRI) standards—internationally recognized guidelines that ensure credible and comparable sustainability reporting. In 2019, Chiesi achieved B Corp certification, demonstrating a clear focus on rigorous measurement and continuous progress. In 2024, Chiesi finalized the preparation for the upcoming re-certification, scheduled for 2025.
The company emphasizes the importance of harmonized reporting standards and accountability as drivers of long-term societal and economic progress. For this reason, Chiesi is working in anticipation of the European Corporate Sustainability Reporting Directive (CSRD) and maintains voluntary assurance of its Sustainability Report. The company is strategically enhancing its data collection and reporting processes to ensure that financial and sustainability disclosures are treated with equal importance, fostering greater integration and alignment between the two.
Giuseppe Accogli, CEO of Chiesi Group, commented on the Sustainability Report:
“2024 was a year of evolution for Chiesi. We welcomed over 1,200 new employees, resulting in a net increase of 524 roles. We reorganized parts of our company and further increased our investment in people and innovation. But more importantly, it was a year in which we reaffirmed our purpose: to generate a positive impact for the patients and the communities we serve. Staying true to this purpose means making bold choices—like hugely investing in R&D, strengthening our commitment to sustainability, and ensuring transparency through rigorous reporting standards. We distributed 84% of the economic value generated to our stakeholders, a measure of how our company contributes economically to its ecosystem. At the same time, 16% of the generated value was retained by the company to further invest in innovation and people’s wellbeing. At Chiesi, purpose drives everything we do—and impact follows. That’s why we will continue to act with decisiveness, measure our progress with transparency, and lead with the conviction that a healthier, fair and sustainable future is not just possible—it is essential to our mission.”
Maria Paola Chiesi, Vice Chair at Chiesi Group commented:
“At Chiesi, sustainability is the way we do business. Our purpose drives us to create lasting positive impact for patients, people, while respecting the planet. Every choice we make must reflect our commitment to improved care, innovation, and health equity. The Sustainability Report is not just a record of our progress—it’s a promise to keep going, to keep improving, and to always act with boldness and transparency. We are building a future where doing good and doing well reinforce one another, and where progress is measured by the impact we have on people’s lives.”
Patients at the Heart: Chiesi’s Global Commitment to Innovation and Care
In 2024, Chiesi reaffirmed its commitment to a patient-centric approach by investing a record €829 million—24.3% of its revenues—into research and development, consolidating its position as Italy’s leading pharmaceutical company for R&D investment. Over the course of the year, Chiesi filed 33 new patent applications with the European Patent Office, contributing to a global portfolio of more than 5,500 patents—tangible evidence of its focus on innovation for the benefit of patients worldwide.
A key milestone of the year was the opening of the Parma Biotech Center of Excellence, a new integrated hub for research and production. Backed by a €400 million investment planned through 2030, the center is set to accelerate the patients’ access to innovative medicines and enhance Europe’s competitiveness in the global biopharmaceutical landscape.
Promoting Health Equity, defined as the absence of unfair and avoidable disparities in health among population groups, is a priority for Chiesi. In line with the UN Sustainable Development Goals—particularly SDG 3 (Good Health and Well-Being) and SDG 10 (Reduced Inequalities)—the Group now promotes health equity initiatives in 33 countries, through close collaboration with partners. At the same time, Chiesi continued to expand the global footprint of its therapies and products, with at least one registration across 130 nations in 2024.
In addition, Chiesi’s Global Health team, dedicated to expanding access to life-saving neonatal treatments in Sub-Saharan Africa, made significant progress in navigating the regulatory drug approval processes in Ethiopia, Tanzania, and Uganda. In parallel with these efforts, the independent non-profit Chiesi Foundation, which celebrates its 20th anniversary in 2025, is devoted to improving quality of care in underserved regions. In neonatal health, the Foundation further developed the NEST (Neonatal Essential Survival Technology) model—active in five West African countries—to reduce newborn mortality. In the field of respiratory health, the GASP (Global Access to Sustainable Pulmonology) project supported the diagnosis and management of chronic respiratory diseases in Guyana, Nepal, and Peru. These programs exemplify the Group’s broader commitment to advancing equitable healthcare—not only through innovation, but through action.
A Plan for the Planet: A Year of Environmental Milestones at Chiesi
In 2024, Chiesi took a decisive step forward in its journey to Net Zero greenhouse gas (GHG) emissions by 2035 by publishing its first Climate Transition Plan. The Plan outlines a structured governance model to address climate change, detailing emissions reduction strategies across Scopes 1, 2, and 3, alongside financial planning, risk mitigation, and transparent performance metrics. That same year, Chiesi’s Net Zero targets received official validation from the Science Based Targets initiative (SBTi), underscoring the Group’s commitment to credible and science-aligned climate action. In 2025 Chiesi is publishing an updated version of its Climate Transition Plan, further strengthening its roadmap to reaching Net Zero.
Significant progress has already been made. Compared to the 2019 baseline, in 2024 Scope 1 emissions were reduced by 27%, mainly due to reduction in car fleet, propellant and stationary emissions and Scope 2 market-based emissions by an 97%, due to the purchased electricity coming from renewable sources. Notably, 99% of the electricity used across Chiesi’s global sites now comes from renewable sources, with 100% of purchased electricity in Italy supplied through a long-term Power Purchase Agreement (PPA) with a solar plant.
Efforts to improve energy efficiency have delivered tangible results. Total energy consumption across the organization fell by 2% compared to 2023. At the same time, the share of energy derived from renewable sources rose to 46%—up from 42% of the previous year.
The Group is also advancing in sustainable mobility: by the end of 2024, about 31% of the company car fleet consisted of electric and hybrid vehicles, supporting a broader goal to cut fleet-related emissions by 90% by 2030.
As for Scope 3 emissions, while they increased in the last five years—largely driven by a rise in the use of sold-product-emissions category linked to the growth in metered-dose-inhalers sales—the Group made progress in terms of emission intensity. When measured against revenue, Chiesi’s GHG emission intensity (tons of CO₂eq per million euros of revenue) declined by approximately 7.5% from 2023 to 2024.
Innovation plays a critical role in Chiesi’s environmental strategy. A cornerstone project is the development of next-generation, carbon-minimal inhaler products. Backed by an investment of over €350 million, the current propellant will be replaced in Chiesis's pressurized metered dose inhaler (pMDI) products with a much lower global warming potential propellant—reducing the inhaler’s carbon footprint by up to 90%. With the transition to carbon-minimal inhaler products, while still supporting Dry Powder Inhaler (DPI) technology, Chiesi will provide patients with a variety of treatment options tailored to their individual needs.
Beyond product innovation, Chiesi is raising environmental standards across its entire value chain. In 2024, the Group updated its Code of Interdependence in collaboration with its suppliers, a guiding document that promotes responsible sourcing and higher environmental and social standards among suppliers. Today, around 70% of Chiesi’s annual strategic spend is with suppliers who have signed the Code. The Group also improved its EcoVadis sustainability rating, retaining the Platinum Medal and ranking in the top 1% of companies assessed globally for performance across Environment, Ethics, Human Rights, and Procurement.
Environmental sustainability also extends into Chiesi’s scientific research. In partnership with My Green Lab, the leading global standard for sustainable lab practices, six of the Group’s laboratories achieved Green-level certification—the highest recognition available. At least four more labs are expected to follow in 2025.
Where People Thrive: From Gender Balance to Global Volunteering
In 2024, Chiesi Group continued to grow as a global organization, reaching a total of 7,542 employees—a net increase of 524 compared to the previous year. The Group’s workforce remains well balanced, with women representing 57% of the total population and 58% of new hires. Notably, 27% of new hires were under the age of 30, reflecting Chiesi’s commitment to attracting young talent and building a future-ready workforce.
Chiesi reached a significant milestone that year: it was named one of the World's 25 Best Workplaces™ by Great Place To Work® and Fortune. As the first Italian company ever recognized, this honor reflects Chiesi’s enduring commitment to a fair and supportive workplace.
Advancing gender justice remained a key focus in 2024, with progress on two fronts: equal pay and equal career opportunities. Chiesi first achieved gender pay equity in 2022 and continues to monitor and manage the unexplained pay gap, which as of 2024 remains below 1% and not statistically significant. Progress was also made toward achieving balanced gender representation in leadership. The Group reached gender parity at the middle-management level and remains committed to extending this balance across all senior leadership roles by 2028.
Beyond the workplace, Chiesi significantly increased its investment in social impact initiatives. In 2024, the Group allocated €29.7 million to support local communities, patients, and scientific research, including the donation of over 80,500 units of Chiesi medicines—valued at €9.9 million[2].
Corporate volunteering also saw a meaningful rise in engagement. A total of 15,368 volunteer hours were recorded in 2024—up 53% from the previous year—with 40% of Chiesi employees actively participating in community service projects.
Prosperity with Purpose: Chiesi’s Model for Sustainable Impact
At Chiesi, prosperity means long-term value creation for patients, people, communities, and the planet. Guided by the principle “Do Good, Do Well, Repeat”, the Group embraces a Shared Value approach to business: by developing solutions that generate positive societal and environmental impact (Do good), Chiesi achieves sustainable growth (Do well), reinvesting resources to drive further innovation and impact (Repeat).
This commitment is embedded in a governance model based on ethics, transparency, and accountability, which ensures that the company’s actions align with its common benefit goals and corporate values. In 2024, Chiesi updated its Code of Conduct, reflecting the Group’s evolution and its enduring commitment to human rights and sustainable business practices—consistently with its legal form as a Benefit Corporation in Italy, the U.S., France and Colombia.
Chiesi Headquarters also strengthened its organizational integrity and resilience through key ISO certifications, obtaining both the Anti-Bribery Management System and the Information Security Management System certifications in 2024. These milestones reinforce the Group’s focus on responsible management and operational excellence.
