About this report
Welcome to the first Novartis in Society Integrated Report. This report highlights progress against our strategy and describes how we create value for our stakeholders. It is intended for all Novartis stakeholders, particularly shareholders, investors, and environmental, social and governance (ESG) professionals.
This report combines our Novartis in Society ESG Report and Annual Review. It is published in conjunction with our regulatory disclosure documents: our Annual Report filed with the SIX Swiss Exchange, and our Form 20-F filed with the US Securities and Exchange Commission (SEC). Details of our annual reports can be found at www.reporting.novartis.com.
- Our Novartis in Society Integrated Report contains three main sections:
- Our approach, including details of our business environment, stakeholders, strategy and risk management
- Our performance, including financial performance and performance against our five strategic priorities: deliver transformative innovation, embrace operational excellence, go big on data and digital, unleash the power of our people, and build trust with society
- Corporate governance and our approach to executive compensation
Content of this report is subject to approval by the Governance, Nomination and Corporate Responsibilities Committee of the Novartis Board of Directors prior to publication. PricewaterhouseCoopers AG (PwC) has provided limited independent assurance on specific data and on our materiality assessment in this report (see "Independent Assurance Report").
All financial data is taken from our Annual Report, prepared in accordance with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board (IASB). This report has been prepared in accordance with the GRI Standards: Core option. We used other frameworks as references, including the Integrated Reporting Framework and SASB Standards provided by the Value Reporting Foundation. Further details on our compliance with GRI and SASB standards can be found in the appendix.
In addition, Novartis supports the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). Our TCFD disclosure can be found in the appendix.
All information reflects the continuing operations of the Novartis Group, including the various changes in the Group’s portfolio of activities in prior years. Unless otherwise stated, data in this report relates to our financial year, which runs from January 1 to December 31. Environmental data is based on nine-month actual data (January to September 2021) plus three-month estimates. This data will be restated with actual figures on our website during the second half of 2022.
Please note that all product names printed in italics in this report are trademarks owned by, or licensed to, the Novartis Group.