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Lilly Outlines Plans To Strengthen ESG Commitments

Eli Lilly and Co. (LLY) commits to improve access to quality health care for 30 million people globally living in limited resource settings annually by 2030 through the Lilly 30x30 initiative.

The company also commits to implement solutions to improve accessibility and affordability in the U.S. for patients who depend on Lilly's medicines, including steps that make anyone, regardless of insurance status, eligible to obtain their monthly prescription of Lilly insulin for $35.

Eli Lilly said it will outline its newly updated Environmental, Social and Governance (ESG) strategy, highlighting its commitments in key areas during the company's Sustainability Webcast Tuesday at 10:30 am ET.

The company is ensuring female representation at Lilly, with women comprising 50% of Lilly's global workforce at the end of 2020 and continuing to increase the number of women in management roles globally. It is increasing the current representation of Black Americans in Lilly's U.S. workforce from approximately 10% to 13%.

The company is doubling the company's annualized spend with African American suppliers and vendors over the next two years.

The company is making a $30 million commitment to the Unseen Capital Health Fund LP to help support minority-owned, early-stage health care companies.

Lilly Foundation is pledging $25 million and Lilly is committing to 25,000 volunteer hours over five years to combat racial inequality.

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