Byron and the team used Datamaran initially for the external view. They purposely didn’t involve the executive leadership team in this stage. Instead, they presented the analysis to senior leaders across different functions when they gathered their feedback for the internal view.
Senior leaders approached the analysis with curiosity and were surprised by some of the issues Organon’s stakeholders are most concerned about. For example, while topics like product safety can be expected for a pharmaceutical company, some executives were surprised to see less visible topics like ethics in research and development rank high as topics the external world cares about.
ESG is at the core of Organon’s business; Organon’s board has an ESG committee, and ESG runs through the work of several other committees. Byron commented: “As we start looking at risk and materiality in a very broad set, that's involving the audit committee of the board. This materiality exercise has allowed us to not only develop our strategy and formulate goals and KPIs, but also to involve the whole entire board and their oversight of ESG.”
Now, as they work towards Organon’s first 10k filing and ESG report, the team is using Datamaran to monitor material issues and keep the board updated on a quarterly basis. Datamaran tracks how the likelihood of Organon’s material issues in terms of risk and opportunity changes over time, based on the parameters they have selected. As well as providing essential information for reporting, this also supports leadership in their decision making – and gives them the data to back up those decisions.
Read about Organon’s approach to ESG.