巴塞爾醫療 ESG在醫療保健行業的應用及其與保險的聯系.pdf

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1、At the forefront of healthcare.The Application of ESG in the Healthcare Industry and Its Connection to InsuranceRaymond CheungGroup CEO,Basel Medical GroupSINGAPORE ACTUARIAL CONFERENCE 2024ABOUT BASEL MEDICALAbout Basel Medical2Basel Medical is here to revolutionize healthcare acrossSoutheast Asia,

2、starting from Singapore&Malaysia.Our vision is to establish an integrated healthcare ecosystem,comprising a diverse portfolio of companies across 4 pillars:medical practices,medical supply chains,medical technologyand pharmacies.We are currently in the process of IPO at Nasdaq,expected tocomplete by

3、 Q4 this year.Our goal is to become the premier healthcare provider,offeringseamless,one-stopsolutionswithunparalleledcustomer experience.SOME HEALTHCARE STATISTICSSome Healthcare Statisticsglobal medical plastics market in 2023(2%of plastics production by value,7.5%growth per year)Covid vaccine dos

4、es have been administered by Feb 2024(each requiring their own plastic syringe)677mnUS$53.5bn4%2.5XOf global CO2 emissions from healthcare systemsGHG emitted by hospitals than other commercial buildings89mnNeeded by hospitals every month during covid76mn 1.6mn(masks)(gloves)(goggles)Of waste produce

5、d by a single hospital in a month(about 25%comes from plastics waste)460kg3Source:1.Medical Plastics Market Size,Share&Forecast Report 2032()2.Heres how healthcare can reduce its carbon footprint|World Economic Forum(weforum.org)02 COMPETITIVE EDGE00 AGENDAAgendaWhat is ESG?01(E)nvironmental Initiat

6、ives in Healthcare 02(S)ocial Responsibilities in Healthcare03(G)overnance&Ethical Practices in Healthcare04505Connection&Opportunities for InsuranceSection 1:What is Environmental,Social&Governance(ESG)?01 WHAT IS ESG?What is ESG?7 Considered a form of corporate social credit score that is compiled

7、 from data collectedsurrounding specific metrics related to intangibleassets within the enterprise Research shows that such intangible assets comprise an increasing percentage of futureenterprise value The three central factors together,E.S.G.,comprise a label that has been adopted throughoutfinanci

8、al industry globally,used for a myriad of specific purposes with the ultimate objective ofmeasuring elements related to sustainability and societal impact of a company or businessSource:WikipediaEnvironmental,Social,and Corporate Governance(ESG)is an evaluation of a firms collective conscientiousnes

9、s for social and environmental factors01 WHAT IS ESG?What is ESG?8Understanding and incorporating ESG principles into our decision-making processes cancontribute to a more sustainable and equitable future for allESG is not just a buzzword;it has real-world implications that affect our daily lives.Co

10、mpanies thatprioritize ESG principles are more likely to:Adopt sustainable practicesReduce their environmental footprintContribute to well-being of communitiesHave robust governance structuresPrevent unethical behaviourPromote transparency and accountability01 WHAT IS ESG?Covid-19 accelerates adopti

11、on of ESG9Climate change and COVID-19 pandemic alike require innovation and science and the world working together.Getting through Covid-19 pandemic together will set a promising precedent for global cooperation.COVID-19 crisis makes it clear that all people live on one planet in a deeply interconne

12、cted wayClimate change,loss of biodiversity,industrial agriculture,deforestation-There is no place on the planet to run to,just as there is no place to avoid the health and economic consequences of COVID-19As the world recovers from COVID-19,the trend of ESG issues will become more central to invest

13、ing and business decisions will accelerate(the new normal)As customers,employees,suppliers and investors,we look at how companies impact the well-being of the world,both at the local community level and at the global level The ESG measurement system will increasingly be an important criteria to eval

14、uate companies10Sustainable Development Goals(SDGs):adopted by United Nations in 2015 as a universal call to action to end poverty,protect the planet,and ensure that by 2030 all people enjoy peace and prosperityThe 17 SDGs are integrated:they recognize that action in one area will affect outcomes in

15、 others,and that development must balance social,economic and environmental sustainabilityCountries have committed to prioritize progress for those whore furthest behind.The SDGs are designed to end poverty,hunger,AIDS,and discrimination against women and girls01 WHAT IS ESG?Why ESG in Healthcare?Ad

16、vancing UN Sustainable Development Goals10-direct-indirect01 WHAT IS ESG?3 Components of ESG in relation to Healthcare Industry11ENERGY EFFICIENCYSAFER CHEMICALS/MATERIALSAIR AND WATER QUALITYWORKING CONDITIONSHUMAN RIGHTSEQUAL OPPORTUNITYFAIR WAGESDIVERSE SUPPLIERSGOVERNING BOARDESG LEADER APPOINTM

17、ENTETHICS POLICIESPAY EQUITY GOALSESG PROGRESS TRACKING NATURAL RESOURCE CONSERVATIONWASTE/END OF USESection 2:Environmental Initiatives in Healthcare02 Environmental Initiatives in HealthcareEnvironmental Issues in Healthcare13 Every product has an“environmental footprint”from its energy and materi

18、al use,manufacture,delivery,use,and disposal Product waste,especially toxic waste,can harm human health&ecosystems The healthcare industry must urgently reduce greenhouse gas emissions The supply chain is a major source of healthcare emissions Solutions:switch to renewable energy and improve supply

19、chains Suppliers emissions should be measured/reported to achieve net-zero healthcareENVIRONMENTAL CHALLENGEHealthcare systems contribute to 4.4%of net global CO emissions morethantheaviationandshippingindustries and equivalent to the annualgreenhouse gas emissions from 514coal-fired power plants.In

20、 industrialized nations the emissionsassociated with healthcare were foundto be even higher up to 7.6%ofnational emissions.Given the negativeimpact of climate change on publichealth,communities and society,webelieve that the healthcare industrymust urgently increase its efforts tobecome part of the

21、solution.02 Environmental Initiatives in Healthcare14Direct:Scope 1:owned and controlled by thecompanyIndirect Scope 2:frompurchased electricityor steam,for own use Scope 3:fromoperations that arecontracted by the companySource:Scope 1,2,3 emissions explained()02 Environmental Initiatives in Healthc

22、are15Scope of GHG Emissions in HealthcareSource:Yale Experts Explain Net Zero Healthcare|Yale Sustainability02 Environmental Initiatives in Healthcare16Case Study:Green Practices for HealthcareIHH Malaysia has introduced a Building EfficiencyIndex(BEI)across its 16 hospitals to better assessand mana

23、ge its energy efficiency initiatives.TheBEIhashelpedinidentifyingeffectivestrategiesforeachhospital,includingtheoptimisation of chiller settings and the installationof advanced refrigerant flow systems in operatingtheatres.These measures have contributed to a 12.5%reduction in energy intensity acros

24、s the hospitalnetwork.Source:Emissions Management-IHH Healthcare Berhad02 Environmental Initiatives in Healthcare17Case Study:Green Practices for HealthcareTo remove food waste effectively and in a more environmentally-friendly way,the Food Services Department managing SengKang General Hospitals cen

25、tral kitchen has adopted green practices for enhanced waste management.Two food waste digesters were installed in the central kitchen which break down food waste into water,effectively reducing the waste to be sent for incineration.Source:skoop issue 10 food waste(.sg)02 Environmental Initiatives in

26、 Healthcare18Case Study:Green Practices for HealthcareNational University Hospital(NUH)isproud to announce its commitment toenvironmental sustainability by movingtowards a plasticlitecampus.The hospital is phasing out the use ofsmall plastic bags at its pharmaciesacross the campus,which can cut the

27、useof up to 480,000 small plastic bags a yearwiththesupportofpatientsandmembers of the public.This move alignswith NUHs ongoing efforts to implementenvironmentally friendly practices in asector that is both affected by,and a keycontributor to,climate change.Source:The National University Hospital pl

28、edges commitment to go plastic-lite(.sg)02 Environmental Initiatives in Healthcare19Sustainable Procurement in Healthcare Sustainable Procurement(or Green Procurement)involves supply chain management,materialsmanagement,logistics,procurement,and strategic sourcing activities The process examines wha

29、t products are made of,where they come from,who made them,who isaffected by their production,how they will be disposed of,and whether a product needs to be madeor used at all Institutions buy products and services that integrate environmental factors(positive effects on theenvironment and health),so

30、cial factors(fair labor,human rights,local employment),and economicfactors(longevity,total cost of ownership,disposal cost,quality,innovation)It is a necessary process for healthcare institutions to meet Scope 3 GHG protocol requirementsOrganizations meet their needs for goods and services while gen

31、erating benefits for society and economy while minimizing damage to health and the environment02 Environmental Initiatives in Healthcare2090%of environmental impact in Healthcare is due to Supply ChainShare of a sectors environmental impact located in the supply chainSource:PRI_Managing-ESG-risk-in-

32、the-supply-chains.pdfCurrent global material consumptionisnotsustainable.Theworldspopulation would need 1.7 Earths tosupport its demands on resourcesHealthcare uses 10%of all materialsannually,and most waste producedfrom the industry goes to landfill orincinerationApplying circular economy strategie

33、sthat reduce dependence on take,make,waste business models couldcut emissions by39%to 45%It is critical to scale circular practicesacrosshealthcare.SustainableProcurement can help incentivize andaccelerate this transformation02 Environmental Initiatives in Healthcare21Case Study:Green Procurement in

34、 HealthcareREDUCERECYCLE&REUSEOLDIMH strives to be a Green Hospital by championing the principles of Reduce,Reuse and Recycle&Green ProcurementSection 3:Social Responsibilities in Healthcare03 Social Responsibilities in HealthcareSocial Issues in Healthcare23SOCIAL CHALLENGEHealthcare is a social go

35、od but it is alsoa source of social inequity.The COVID-19pandemicunderscoredlong-standingequityissuesbetweenresourcedandunderresourcedcommunities when it comes to healthoutcomes.Health inequities are differences inhealth status or in the distribution ofhealthresources between differentpopulation gro

36、ups,arising from thesocial conditions in which people areborn,grow,live,work and age.Healthinequities are unfair and could bereducedbytherightmixofgovernment policies.Social factors Education,employment status,income level,gender,and ethnicity significantly impact an individuals health There are not

37、able disparities in health outcomes among different social groups Individuals with lower socio-economic status face higher risk of poor health outcomes Systematic differences in health status between population groups lead to significant social and economic costs Many healthcare organizations are fo

38、cusing on enhancing diversity and inclusion,upskilling staff,and improving workplace safety.03 Social Responsibilities in HealthcareCase Study:Social Responsibilities in Healthcare24 Gender diversity is a key goal for IHH.They pursue diversity and inclusion in five dimensions:Gender,Generational,Dif

39、ferently Abled,Skillset and Cultural:Determine strategy and measure progress through global diversity,equity&inclusion benchmarks Develop market-level strategies that consider local social,economic and cultural nuances Integrate the Diversity,Equity,Inclusion,and Belonging(DEIB)agenda into performan

40、ce metricsSource:Diversity&Inclusion-IHH Healthcare03 Social Responsibilities in HealthcareCase Study:Social Responsibilities in Healthcare25 CVS Health invested in affordable housing projectsandprogramsindifferentlocationssuchasAlaska,Ohio,Massachusetts,Texas,Georgia,Florida,Wisconsin,Hawaii,Califo

41、rnia,New York,Maryland,and Colorado.$15.3 million to build 144 new homes and servicesfor Ohio seniors and those with disabilities,in twoaffordable housing communities$6.2millionforHappinessHouseApartmentsin Canandaigua,NY,a supportive housing communityproviding 30 new homes for families and seniors,

42、including homelessness$4.3 million for Bridgeway Community Housingin Wasilla,AK,a 24-unit PSH project designed to meetthe needs of Alaskans experiencing homelessness,living with mental disabilitiesSource:CVS Health invests$114 million in affordable housing across the country in 202003 Social Respons

43、ibilities in HealthcareCase Study:Social Responsibilities in Healthcare26 NUH introduced the Value-Driven Care(VDC)framework to improve patient health outcomes by optimising available resources through the collection,benchmarking and analysis of various quality and cost indicators,making healthcare

44、more effective and accessible.By collecting,benchmarking and analyzing various quality and cost indicators,and providing the data to healthcare professionals,it enabled them to identify cost-effective clinical practices,reduce unnecessary variations and improve both cost and quality outcomes.Source:

45、Providing affordable and sustainable healthcare(.sg)VDO Case Study:Sepsis VDO ResultsIncrease in Clinical Quality Index(CQI)driven by decreasing cost and increasing qualityAn absolute decrease of 12%points in mean total cost per patient from 2019 to 2021Sepsis|Value-Based Healthcare-NUHSSection 4:Go

46、vernance and Ethical Practices in Healthcare04 Governance and Ethical Practices in HealthcareGovernance&Ethical Issues in Healthcare28 Lack of transparency in procurement can lead to corruption,fraud,mismanagement,eroding trust in healthcare Ensures suppliers follow fair labor practices and respect

47、human rights,avoiding products from child labor or unsafe conditions Some procurement practices may favor certain suppliers,leading tomonopolies or unfair competition Adherence to local and international regulations is vital for maintainingprocurement integrityGOVERNANCE CHALLENGEThe health care sec

48、tor is known for itshigh-risks in corruption due to large poolsofavailablefundingforpublicprocurement and amongst with supplychain complexity and transparency.An average of 7.29%of annual globalhealth spending is lost to fraud,and withan estimate of US$415 billion lostannually.Corruption is also a s

49、ignificant challengefor the implementation of the 2030Agenda for the Sustainable DevelopmentGoals,and with the growing due diligenceareas in the protection of human rights,labour,ethics,environment and tacklingclimate change.Procurement decisionsshould promote localeconomic developmentand equitable

50、access tohealthcare services04 Governance and Ethical Practices in HealthcareGovernance Solutions through Sustainable Procurement29Transparency and AccountabilityEnsuringclear,documentedprocurement processes to prevent fraudand corruption.Ethical ConsiderationsIntegratinglabourstandards,humanrights,

51、andethicalsourcingintoprocurement decisions.Environmental ImpactAddressing environmental consequencesof procurement choices,including wastemanagement and carbon footprintsSustainable Procurement StrategiesCapacity Building:Enhance skills&knowledge of healthcareprocurement teams to implementsustainab

52、le practices.Market-ShapingStrategies:Usepurchasingpowertoencourage suppliers to adoptsustainableðical practices.Lifecycle Analysis:Implementing lifecycle assessments toevaluate thelong-term impactsof procurement choices.InputsRaw materialsEnergyOutputsGHGWasteBy-products04 Governance and Ethical

53、 Practices in HealthcareCase Study:Global Green and Healthy Hospitals(GGHHN)30 The Global Green and Healthy Hospitals Network(GGHHN)is a worldwide community a network of 35 healthsystem and organizations worldwide(43,000 hospitals,72 countries)adopting sustainable procurement practices Impact:Signif

54、icant reduction in environmental impact,improved efficiency,and cost savings Key Takeaway:Collaboration across health systems to promote sustainable procurement as a standard practiceSource:Perpage_062520(hospitalesporlasaludambiental.org)04 Governance and Ethical Practices in HealthcareCase Study:G

55、lobal Green and Healthy Hospitals(GGHHN)31Source:Perpage_062520(hospitalesporlasaludambiental.org)Some Projects done by GGHHN through its Health Care Without Harm Global ProgramClimate Health Air MonitoringPolicy Action around the worldDoctors for Clean AirGreening Health Supply chainWaste managemen

56、tRohingya refugee camps in BangladeshSection 5:Connection and Opportunities for Insurance3305 CONNECTION AND OPPORTUNITIES FOR INSURANCEWhat is Sustainable Insurance?Sustainable insurance is a strategic approach where all activitiesin the insurance value chain,including interactions withstakeholders

57、,are done in a responsible and forward-looking wayby identifying,assessing,managing and monitoring risks andopportunitiesassociatedwithenvironmental,socialandgovernance issues.Sustainable insurance aims to reduce risk,develop innovative solutions,improve business performance,andcontributetoenvironme

58、ntal,socialandeconomicsustainability.3405 CONNECTION AND OPPORTUNITIES FOR INSURANCEAspiration of Sustainable Insurance1.Insurance is about understanding,managing and carrying risk2.Insurance helps protect society by risk prevention,risk reduction and sharing risk3.Changing ESG landscape is leading

59、to diverse,interconnected and complex risks butalso opportunities4.A resilient insurance industry depends on holistic and far-sighted risk managementin which ESG issues are considered5.Better management of ESG issues will strengthen the insurance industryscontribution to building a resilient,inclusi

60、ve and sustainable societyThe future we want is a society in which people are aligned and incentivised to adopt sustainable practices3505 CONNECTION AND OPPORTUNITIES FOR INSURANCEConnection between ESG and HealthcareSocialHealthcare systems contribute significantly to carbon emissions through energ

61、y use,waste generation,and pharmaceutical production.Reducing the environmental footprint through sustainable practices can improve health outcomes and operational efficiency.Healthcare is inherently tied to social issues,including access to care,patient safety,and workforce well-being.Addressing so

62、cial determinants of health and promoting equitable access can enhance community well-being and reduce long-term healthcare costsStrong governance in healthcare involves ethical practices,data privacy,regulatory compliance,and transparency.Effective governance fosters trust among patients,stakeholde

63、rs,and the publicEnvironmentalGovernance3605 CONNECTION AND OPPORTUNITIES FOR INSURANCEOpportunities for Sustainable InsuranceInsurance can be the key partners with healthcare providers:Sustainable Health Insurance ProductsOffering insurance products thatincentivizesustainablepractices,such as preve

64、ntive care,wellnessprograms,and telemedicine,whichcan reduce healthcare costs andimprove patient outcomes.ESG Driven UnderwritingIntegratingESGcriteriaintounderwriting processes to assess risksmoreaccurately.Forexample,healthcarefacilitieswithstrongenvironmental practices may receivefavourable premi

65、ums.Investment in ESG-Compliant Healthcare CompaniesAllocatingcapitaltohealthcarecompanieswithstrongESGperformance,ensuringlong-termfinancialreturnswhilepromotingsustainabilityand social responsibility3705 CONNECTION AND OPPORTUNITIES FOR INSURANCEOpportunities for Sustainable InsuranceInsurance can

66、 be the key partners with healthcare providers:Partnerships for Green Healthcare InitiativesCollaboratingwithhealthcareproviderstosupportthedevelopmentofeco-friendlyhospitalsandclinics,reducingenvironmentalimpactandenhancingbrand reputation.Development of ESG Compliance CoverageProviding insurance p

67、roducts that helphealthcare organizations manage risksassociatedwithESGcompliance,including liability coverage for non-compliance or ESG-related incidents.Health Equity and Access ProgramsCreatinginsuranceprogramsthatsupport initiatives aimed at improvingaccess to healthcare for underservedcommuniti

68、es,aligningwithsocialresponsibility goals and expanding thecustomer base.3805 CONNECTION AND OPPORTUNITIES FOR INSURANCECase Studies from Insurance CompaniesInsurance can be the key partners with healthcare providers:Sustainable Health Insurance ProductsDiscoverysVitalityprogramincentivizes healthy

69、behavior byoffering rewards and discountsfor activities like exercising,eatingwell,andgettingregularcheckups.This approach not onlypromotes preventive care but alsoreduces the overall healthcarecosts for both the insurer and theinsured.ESG Driven UnderwritingSwiss Re has integrated ESG criteriaintoi

70、tsunderwritingprocess,particularlyinhealthcare.Theyassess environmental risks,such asthe impact of climate change onhealth,and social factors,includingaccess to healthcare and workingconditions.This allows Swiss Re tooffer tailored insurance productsand pricing that reflect these ESGconsiderations.I

71、nvestment in ESG-Compliant Healthcare CompaniesAXA has committed to investing inhealthcarecompaniesthatdemonstratestrongESGperformance.Forexample,theyhave invested in companies thatfocusoninnovativemedicaltechnologiesandsustainablepracticesinhealthcaredelivery,aligning their investment strategywith

72、ESG principles.swissre-sustainable-business-risk-framework.pdfDiscovery Vitality-DiscoverySources:view(axa-)3905 CONNECTION AND OPPORTUNITIES FOR INSURANCEInsurance can be the key partners with healthcare providers:Bupa partnered with the CarbonTrust to develop energy-efficienthealthcarefacilities.T

73、hispartnership led to the creation ofgreener healthcare environmentsthat reduce carbon emissions,aligning with Bupas commitmentto sustainability while improvingpatientcarethroughhealthierbuildings.Zurich has developed products thathelphealthcareorganizationsmanage ESG-related risks,includingliabilit

74、yinsurancefornon-compliancewithenvironmentalregulations or social governancestandards.This helps healthcareprovidersmitigatetherisksassociated with failing to meet ESGrequirements.KaiserPermanentehaslongbeeninvolvedininitiativesaimedatimprovingaccess to healthcare inunderservedcommunities.Theyvedeve

75、lopedcommunityhealthprogramsthataddresssocialdeterminantsofhealth,suchasaccess to nutritious food,housing,andeducation,which are also supportedthrough their insurance offerings thatfocus on communitywell-being.Sources:Partnerships for Green Healthcare InitiativesDevelopment of ESG Compliance Coverag

76、eHealth Equity and Access ProgramsBupa picks up global Carbon Trust Standard on journey to reduce CO2 by 20%-edieESG integration|Zurich InsuranceKaiser Permanente launches resources hub to address SDOH in communities()Case Studies from Insurance CompaniesIs Your Insurer Positioned to Drive the Future of Sustainable Healthcare?CONTACT USReach out to me to discuss partnership opportunities with Basel Medical Group:+65 8814 1051 Raymond.cheungbasel-600 North Bridge Road,#12-02/03Parkview Square,S18877841