The global healthcare industry experienced a 58% drop in company filings mentions of social responsibility in Q3 2022 compared with the previous quarter, with the highest share accounted for by Tata Consultancy Services with 920% year-on-year increase, according to GlobalData’s analysis of over 55 healthcare company filings.
Notably, social responsibility was one of the most frequently referenced themes in Q3 2022, ranking highest in terms of mentions, ahead of digitalization and advanced materials, according to GlobalData’s whitepaper on Social Responsibility in Healthcare – Filings Trends in Q3 2022.
Of the 50 leading companies in the healthcare industry, Tata Consultancy Services had the greatest increase in references for social responsibility in Q3 2022, compared with the previous quarter. GlobalData identified 51 social responsibility-related sentences in the company's filings - 93% of all sentences - and a decrease of 63% in Q3 2022 compared with Q2 2022. Suncorp Group’s mentions of social responsibility rose by 100% to 35 and Travelers Companies’s by 100% to 21.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for social responsibility in Q3 2022 was 91.