SK Bioscience Achieves A Grade or Higher in All Categories in Its First ESG Evaluation

SK Bioscience Andong L House. [Photo by SK Bioscience]

[Asia Economy Reporter Lee Gwan-joo] SK Bioscience announced on the 25th that it received an A grade or higher in all categories in the ESG (Environmental, Social, Governance) evaluation and rating results for listed companies published by the Korea Corporate Governance Service (KCGS).

SK Bioscience earned an A+ in the social category and an A grade in both the environmental and governance categories. In its first ESG evaluation since its launch, the company achieved the highest level of ratings in the industry, recognizing its sustainable growth and advanced management system performance.

Specifically, SK Bioscience received positive evaluations for enhancing human health through vaccine development, pursuing the happiness of stakeholders including its members, and complying with stringent global regulations during the vaccine development process. Additionally, the company was highly rated for contributing to solving social issues through various regional community service activities, disclosing ESG management information through ESG reports, and establishing a sustainable management system by laying the foundation for board-centered governance.

SK Bioscience plans to further strengthen its ESG management activities for sustainable growth in the future. In the environmental sector, it aims to ▲advance its environmental management system ▲respond to climate change by achieving Net Zero; in the social sector, ▲expand talent and human rights management ▲create social value (SV) in local communities ▲generate SV through business ▲build a global bio-ecosystem; and in the governance sector, ▲internalize ESG management ▲strengthen board-centered governance. The company has established and is implementing eight strategic goals.

Furthermore, this month, SK Bioscience obtained the international certification for the environmental management system (ISO14001) for its vaccine production facility, Andong L-House, and completed the declaration of human rights management to continuously pursue the happiness of its members and stakeholders. SK Bioscience plans to carry out ▲the establishment of climate change response strategies and a carbon neutrality roadmap ▲publication of the Task Force on Climate-related Financial Disclosures (TCFD) report within this year. It will also conduct human rights impact assessments, establish a code of conduct for partners, and develop strategies and systems for supply chain ESG management.

Jaeyong Ahn, CEO of SK Bioscience, said, "This evaluation result is the outcome of the efforts of all members and stakeholders to fulfill our duties in the two areas of advancing human health and social responsibility. We will not be complacent with the present but will strive to achieve sustainable growth by advancing our business and management environment and actively communicating with stakeholders."