Merck has just released its annual global corporate responsibility report this morning, thus:
". . . .For this report, Merck devoted resources to dig deeper into which social, environmental and ethical issues were significant to the company and relevant to its stakeholders," said Elizabeth E. McGeveran, Senior Vice President, Governance & Sustainable Investment, F&C Management Ltd.
"That included sharing confidential information with stakeholders, taking time to listen to criticism and suggestions, and letting us know which issues they were ready to tackle. Merck understands that the days of 'feel good' CSR reports are over -- and that companies need to work hard to identify emerging business risks and talk about issues for which there may not be easy answers. Having been consulted on the reporting process, F&C looks forward to reviewing the final version of the newest report and seeing if Merck's emerging markets strategy or the challenges facing patents are explored effectively. . . ."
. . . .4. Conducting ourselves ethically and transparentlyΔ Implemented new Guiding Principles for Ethical Business Practices with the medical and scientific community.
Δ Established comprehensive, global guidelines for escalation, investigation, remediation and recognition of non-compliance events, and implemented them across our different divisions and regions. These guidelines will help ensure the appropriate disciplinary action is taken, up to and including dismissal, when necessary. . . .
Here's to hoping -- for "hope is a good thing. . . In fact, hope may be the best of all things. . . ."
But now we'll need actions, to reaffirm the hope, Mr. Clark.