John Rim, President and CEO of Samsung Biologics, said, “As part of our ‘Driven. For a Sustainable Life”. framework, we continuously improve and commit our resources to creating a sustainable environment, building a healthy society and implementing responsible business activities. The publication of our annual ESG report reinforces the progress we have made, while focusing on the long-term objectives we have set ourselves. Our sustainability initiatives strengthen the connection between the work we do and the way we fulfill our mission, while upholding our core values of always putting people and the environment first.
This year’s report highlights the company’s progress in reducing scope 1 and scope 2 emissions by 32.3% over the previous year, and its commitment to reducing total scope emissions Scope 1 and 2 emissions by 54.3% and Scope 3 emissions by 25.7% by 2026, compared to 2021. The company is also actively working to incentivize its suppliers to move to net zero emissions in several areas and to invest in renewable energies.
Samsung Biologics’ commitment to solving the most critical issues facing the planet is underscored by a series of global initiatives and projects aimed at achieving progress related to climate change. Important steps include:
- To accelerate the delivery of sustainable, net-zero healthcare to improve individual, societal and planetary health, Samsung Biologics actively participates in the Health Systems Working Group under His Highness’ Sustainable Markets Initiative. Royal the Prince of Wales, alongside world leaders from across the health system, academia and international organizations like WHO and UNICEF.
- To foster collaborative solutions, Samsung Biologics also announced its participation in the Frontier 1.5D initiative to develop a climate risk management model under the Carbon Neutral Strategy 2050 in response to current challenges associated with global climate change.
- As part of the Carbon Disclosure Project (CDP), Samsung Biologics, as a representative of the commercial sector, will determine the risks and opportunities within its business to combat climate change, and then analyze the financial impact to adjust its policies. response depending on factors such as the reduction of GHG emissions.
Using the Pricewaterhouse Coopers Total Impact Measurement and Management methodology as a guiding principle, Samsung Biologics has helped 1.6 trillion Korean won in the creation of economic and social value. The company detailed its social contribution activities to provide youth education and school support, equitable access to quality and affordable health services, and childcare support. In partnership with other Samsung subsidiaries, the company launched new programs such as Dream Class to provide career advice to middle school students from low-income families and the Stepping Stone of Hope project to provide self-sufficiency training. and support for youth at risk. .
The company also supports the ESG activities of its corporate partners and requires suppliers to comply with the company’s Supplier Code of Conduct, which was amended in February in accordance with the Responsible Business Alliance (RBA) and the Pharmaceutical Supply Chain Initiative (PSCI). Through these activities, Samsung Biologics aims to reduce ESG risks in its supply chain and build a stable network of partners.
As noted in the report, the company has increased the independence and transparency of its board structure by separating the positions of chairman and chief executive officer and granting outside directors the right to request documents. Through its strong compliance management system, the company has also minimized management risks and enhanced its accountability to human rights, health and the environment through prevention training, reporting and rigorous monitoring and follow-up management. In March last year, the company set up a cross-organization task force to prevent serious accidents through process hazard assessment, risk management, and identification and prevention. amelioration of potential risks.
The full text of Samsung Biologics’ ESG 2022 report can be viewed here.
About Samsung Biologics Co., Ltd.
Samsung Biologics (KRX: 207940.KS) is a fully integrated CDMO offering state-of-the-art development and contract manufacturing services. With proven regulatory approvals, the largest capacity, and the fastest throughput, Samsung Biologics is an award-winning partner of choice and uniquely able to support the development and manufacturing of biologics every step of the way while meeting the needs evolving biopharmaceuticals. companies around the world. For more information visit www.samsungbiologics.com
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