1. Business Issues in Accounting
AC333 Group Assignment
How Sustainability Affects Decision Making
Pfizer
Submission Date: 26th
March 2014 (12pm)
Student Name: Student Number:
Gavin Mattimoe 11434412
Francine Zachary Kwan 11527403
Crystale Liceralde 11473062
Andrew Larkin 11407192
Lecturer:
Evelyn Murphy

2. Table Of Contents
Executive Summary...............Error! Bookmark not defined.
Introduction ............................................................................ 3
Results & Findings ................................................................. 4
Economic Sustainability.....................................................................4
Environmental Sustainability.............................................................5
Social Sustainability...........................................................................6
Conclusion.............................................................................. 7
Bibliography........................................................................... 8

3. Executive Summary
In this report we are going to look at how sustainability affects decision making in Pfizer.
Pfizer is one of the largest multinational pharmaceutical company by revenue based in New
York City. To analyse it, we are going to look at it under three headings;
 Economic Sustainability
 Environmental Sustainability
 Social Sustainability
Introduction
Their mission is to “become the world’s most valued company to patients, customers,
colleagues, investors, business partners, and the communities where [they] work and live”.
Pfizer “dedicate [themselves] to humanity’s quest for longer, healthier, happier lives through
innovation in pharmaceutical, consumer and animal health products”.
Pfizer does not take sustainability lightly. They have a strong economic sustainability
practice by collecting data and performing internal audit. There is an environmental
sustainability council in Pfizer to govern their healthy living initiative. Their goal is to reduce
carbon emissions, greenhouse gases and reduce water usage.

4. Results & Findings
Economic Sustainability
Economic sustainability is the practice of different strategies for utilising existing resources
to an optimum amount so that a responsible and beneficial balance can be achieved over the
long term.1
In a business context, economic sustainability involves using the varied assets of
the company cost-effectively to allow it to continue performing profitably over time.
2
In Pfizer, they, monitor, evaluate, measure, track and report through a number of data
collection methods. These include internal audits, facility self-assessments and management
system reviews that permeate their entire business. They also use key performance indicators
(KPIs) to measure their global performance while using these economically sustainable
mannerisms.3
1
http://www.businessdictionary.com/definition/economic-sustainability.html Last accessed 27/02/14
2
Adams, W. M.. (2006). The Future of Sustainability Re-thinking Environment and Development in the Twenty-
first Century. Report of the IUCN Renowned Thinkers Meeting. 1 (1), p3.
3
http://www.pfizer.com/responsibility/protecting_environment/key_performance_indicators Last accessed

5. These can be seen in the majority of Pfizer’s decisions. One such example of this is when
they decided to break into the ageing Asia-Pacific population. Theresa Firestone, head of
‘Asia - emerging markets’ for Pfizer, said that:
"To achieve economic sustainability, the presumption that old age is more or less
synonymous with dependency and disability must become obsolete", stating that
"global policies to support older generations created in the 20th century are not fit
for the 21st-century demographic transformation". The company then goes on to
add the fact that without healthy ageing models, "rising health challenges will
lead to a potential fiscal nightmare."4
With a growing number of competitors, expectations and laws, Pfizer realise they must
keep economic sustainability close to heart in all areas of business.
Environmental Sustainability
Environmental sustainability involves making decisions and taking actions that are in the
interests of protecting the natural world.5
This is an issue that Pfizer sees as particularly
important. They have established an environmental sustainability council to govern what they
call their “Green Journey.”6
In July 2013, Pfizer released their environmental sustainability goals. These goals aim to
reduce the impact of their business in different ways by the year 2020. All of these reductions
will be based on their 2012 baselines. Their biggest goal here is to reduce their greenhouse
gas emissions. They acknowledge that as a science-based health care company, their work
27/02/14
4
Kevin Grogan. (2012). Pfizer adapts strategies for ageing Asia-Pacific population. Available:
http://www.pharmatimes.com/article/12-03-19/Pfizer_adapts_strategies_for_ageing_Asia-
Pacific_population.aspx Last accessed 27/02/14
5
http://toolkit.smallbiz.nsw.gov.au/part/17/86/371 Last Accessed 03/03/14
6
http://www.pfizer.com/responsibility/protecting_environment/about_green_journey Last Accessed
03/03/14

6. has the potential to cause problems due to their emissions. Between 2000 and 2012, they
reduced their carbon emissions by 40%. Their 2020 goal is to reduce this by a further 20% to
a level indicated by the scientific community. As part of their 2020 goals they also plan to
reduce the amount of waste disposed by 15% and reduce water use by 5%. They also
recognise the need to involve their wide reaching supply chain partners in their
environmental sustainability program to efficiently succeed with their plan.7
Pfizer understand that their environmental impact has a direct influence on consumer’s
feelings towards the company. As a result, Pfizer use Key Performance Indicators (KPIs) to
measure and externally report their global performance. Like many companies now, they also
produce an annual integrated report which along with their financial statements also inform
stakeholders of their impact on sustainability.8
Social Sustainability
Social sustainability occurs when the formal and informal processes, systems, structures and
relationships actively support the capacity of current and future generations to create healthy
and liveable communities. These communities are equitable, diverse, connected and
democratic and provide a good quality of life.9
As part of their commitments, Pfizer finds this
issue important, they use their “global presence and scale to make a difference in local
communities and the world around us.”10
Pfizer contributes to social sustainability through the Get Old Program. It aims to inspire
people of all ages to rethink what it means to Get Old in order to break self-imposed and
7
https://www.pfizer.com/files/responsibility/protecting_environment/Environmental-Sustainability-Goals.pdf
Last Accessed 03/03/14
8
http://www.pfizer.com/responsibility/protecting_environment/key_performance_indicators Last Accessed
03/03/14
9
Stephen McKenzie, “Social Sustainability: Towards Some Definitions”,Hawke Research Institute, Working
Paper Series No 27, University of South Australia. Magill, South Australia , 2004
10
http://www.pfizer.ie/mission_statement_and_values.cfm Last Accessed 05/03/2014

7. societal boundaries and realise that there is a better quality of life at every age.11
People in
this program get to share their experiences as they age with the hope to inspire people that
aging should be something in your own control and should not be feared. Pfizer, in
collaboration with Grantmakers in Aging, have awarded €1.3M to Community AGEnda to
advance their efforts to become great places to grow up and grow old.12
Another way they contribute to social sustainability is through the Global Health Fellows
program where colleagues of Pfizer are situated in various underdeveloped countries. The
Fellows use their professional and medical expertise in order to “promote access, quality and
efficiency of health services for people in greatest need.”13
The program is beneficial for both
parties as Pfizer gains an insight on global health challenges and so that they can address
these issues along with their partners. Some of these issues involve maternal health, fighting
and preventing diseases and even the use of lab equipment and machines.
Conclusion
In conclusion, Pfizer has kept in line with their overall mission to be a valued company to its
stakeholders. Having a strong internal system will help their employees and colleagues to
work as efficient as possible. They managed to reduce their carbon emission by 40% from
2000 to 2012 and plan to reduce it even further by 2020 as well as reducing waste disposal
and water usage. This will ensure that they are not polluting the communities they operate in.
The community also benefits from Pfizer’s social and health programs by helping them
realise the worth of life and have access to health services.
11
https://www.getold.com/#about Last Accessed 05/03/2014
12
http://www.pfizer.com/files/investors/financial_reports/annual_reports/2012/index-wellbeing.html Last
Accessed 05/03/2014
13
http://www.pfizer.com/responsibility/global_health/global_health_fellows Last Accessed 05/03/2014

8. Bibliography
 www.businessdictionary.com
 www.pfizer.com
 www.pfizer.ie
 www.smallbiz.nsw.gov.au
 www.getold.com
 Adams, W. M. (2006). The Future of Sustainability Re-thinking Environment and
Development in the Twenty-first Century.
 Kevin Grogan. (2012). Pfizer adapts strategies for ageing Asia-Pacific population.
 Stephen McKenzie, “Social Sustainability: Towards Some Definitions”
Word Count: 1117
(Word Count excludes the title page, declarations, table of contents and bibliography)