26th May 2025
Fiona Adshead is the chair of the Sustainable Healthcare Coalition, which was started by the NHS to bring together the public and private sectors to work together on sustainability. This is essential work because two thirds of the NHS carbon footprint arises through procurement. Fiona is also a member of the Sustainable Markets Initiative. She answers questions from Richard Smith about the Initiative and what it does.
RS. What is the Sustainable Markets Initiative?
FA. The Sustainable Markets Initiative was launched by His Majesty King Charles III when he was Prince of Wales. The ambition is to bring the private sector together in contributing to the sustainable transition, recognising the need to drive future economic growth in a way that puts nature, people and planet at the heart of value creation. Ultimately, it’s about innovating, accelerating, and delivering on a just, sustainable, and prosperous future.
Now, five years on from launch, the Initiative comprises over 300 chief executives primarily from the private sector but with some non-private sector members and supporters. The Initiative has task forces of sector-specific organisations, and also has cross-cutting initiatives which seek to draw upon “horizontal” challenges which span multiple sectors.
RS. How did you come to be involved with it and what is your role?
FA. The Sustainable Healthcare Coalition was invited by the Health Systems Taskforce chair, Sir Pascal Soriot, chief executive officer of AstraZeneca, to participate because of our experience in bridging the public and private sector and in measuring impact. It has been a powerful way to turbocharge our existing collaborations.
RS. Is health an important part of the Initiative?
FA. Yes, the Health Systems Taskforce is an important part of it – for two core reasons. Firstly, the climate and nature crises are impacting human health with a rise in diseases and increasing health inequities. Secondly, the health sector is contributing to this crisis… around 5% of global greenhouse gas emissions, which is ironic since the fundamental aim of the health sector is to keep people well.
Developing, manufacturing, and delivering health is energy intensive, and we must reduce the environmental impact of healthcare by decarbonising supply chains, wasting less, using more sustainable materials, and delivering more sustainable health pathways. We can only do this in partnership across the health sector.
RS. What has the Initiative achieved? Is it more than a talking shop?
FA. It’s launched and now expanded a collective renewable power purchase offering in China. In short, private sector members (AstraZeneca, GSK, Roche, Novo Nordisk, etc) have unlocked access to renewables in China, and AstraZeneca and GSK have since built on this platform to open it out for suppliers. This is a great demonstration of a blueprint initiative for the sector including suppliers that can be scaled.
This collaboration across the health sector in China could result in annual emissions savings of 250 000 tonnes CO2e per year, the equivalent of taking 50 000 cars off the road. https://www.sustainable-markets.org/news/global-healthcare-leaders-expand-china-renewable-power-programme-with-suppliers-to-support-decarbonization-of-value-chain/
The Initiative launched a programme last year to embed climate-health teaching in medical school curriculums, to support the next generation of medics to embed sustainability into their teaching. This is now active in 30 universities and the aim is to reach 10 000 students in three years. https://www.sustainable-markets.org/news/leading-universities-to-train-10-000-future-doctors-on-climate-impact-on-health-and-sustainable-healthcare/
Through an open letter the seven global chief executive officers have actively and publicly called upon the clinical-trials community to decarbonise clinical trials and launched tools to help them measure emissions from clinical trials. The chief executives have also committed to report on the emissions from their own clinical trials. https://www.sustainable-markets.org/news/open-letter-to-clinical-trial-community-published-by-members-of-the-sustainable-markets-initiative-health-systems-task-force/
The Initiative has launched joint, minimum climate and sustainability targets for suppliers to help increase expectations across the sector in needing to set science-based targets, switch to renewables, and use fewer natural resources https://www.sustainablemarkets.org/taskforces/health-systems-taskforce/
RS. Do you think that private companies are serious about sustainability? If so, how do you know?
FA. Yes – I do. Sitting alongside chief executive officers of leading pharma companies who are involved in the Sustainable Markets Initiative, I’ve been impressed by their commitment to delivering action at scale. Not only have these companies created impressive sustainability programmes as individual companies, but they have also committed to working together to see how they can “raise the floor and the ceiling” by uniting on challenging topics that require joint solutions.
RS. Does being serous about sustainability give companies a competitive advantage?
FA. Yes, I believe so. In many instances, running a company sustainably can help drive productivity and efficiencies.
It’s also critical for future resilience – of supply chains, business practices, etc.
It speaks to the values of the company – it’s the right thing to do for the health of society and the planet.
And, it is a strong lever for attracting and retaining employees
RS. Is there much greenwashing? How do you guard against it?
FA. It’s about action, and science-backed action. We’re not here for greenwashing.
RS. In broad terms do you think that the public or private sector is doing better?
FA. I’m not sure I would look at it like that.
We see health systems such as the NHS really lead the way with their net zero pathway, including bringing sustainability performance into procurement decisions.
At the same time, we see leading private sector companies also leading the way, through making green investments, setting science-based targets and progressing against them and bringing thousands and thousands of employees on this journey.
What we need to see more of is public-private collaboration on this topic… not pitting public against private!
RS. Many people argue that capitalism and sustainability are mutually exclusive? How would you and the initiative answer that?
FA. The Sustainable Markets Initiative is all about driving more sustainable economic growth. Perhaps these agendas were exclusive some years back, but the Initiative is all about how nature, people, and the planet can and must be put at the heart of value creation. Whether in banking, healthcare, buildings, or insurance, efforts convened by the Initiative show that global leadership is committed to investing in sustainable initiatives, pilots, programmes – with a focus on scalability and impact.