Global Leading ESG Evaluation
Top 5% Companies... Upgraded in One Year
[Asia Economy Reporter Lee Gwan-joo] Samsung Biologics announced on the 28th that it received the 'Gold' rating, awarded to the top 5% of companies, in the ESG (Environmental, Social, and Governance) evaluation conducted by the global sustainability assessment organization EcoVadis.
Founded in France in 2007, EcoVadis is a leading global organization that evaluates corporate sustainability performance. It conducts annual assessments in four areas?environment, labor rights, ethics, and sustainable procurement?covering more than 100,000 companies across 175 countries worldwide, awarding Platinum, Gold, Silver, and Bronze ratings.
As sustainable management becomes an important benchmark, global companies use EcoVadis evaluations as a standard and request their business partners to undergo assessments. Global pharmaceutical companies such as Johnson & Johnson, GlaxoSmithKline (GSK), and AstraZeneca actively utilize these evaluations to assess the ESG performance of their vendors' supply chains.
Samsung Biologics, which received a Silver rating last year, scored 71 points this year, a 14-point increase from the previous year, achieving the Gold rating within one year. This rapid upgrade was possible by establishing a proactive system to address potential threats in sustainable management.
Samsung Biologics was recognized for its strengths in all areas, including the establishment of a systematic greenhouse gas and energy management system that includes SCOPE 3 emissions calculation and reporting, thorough safety and environmental management procedures and monitoring, and supply chain risk management through ESG evaluations and due diligence of key partners, resulting in higher scores than last year.
Samsung Biologics has established a proactive ESG risk management system by forming an ESG committee within the board of directors and creating an ESG secretariat. It is also participating as a representative of the CDMO (Contract Development and Manufacturing Organization) industry in the Sustainable Markets Initiative, a climate change response initiative led by the British royal family, exploring ways to achieve net-zero carbon emissions in the supply chain through multifaceted efforts.
John Lim, CEO of Samsung Biologics, stated, “Samsung Biologics’ excellent performance in a global leading ESG evaluation is proof that the company’s ESG management is trusted,” adding, “We will continue to strengthen sustainable management to continuously increase corporate value and secure market leadership.”
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