SK Bioscience has achieved a two-year consecutive grade increase in the global institutional ESG (Environmental, Social, and Governance) evaluation.
SK Bioscience announced on the 5th that it received an A grade in the 2023 ESG evaluation conducted by Morgan Stanley Capital International (MSCI). SK Bioscience, which received a B grade in its first evaluation in 2021, rose to a BBB grade in 2022 and succeeded in increasing its evaluation grade for two consecutive years.
The MSCI ESG evaluation is an indicator widely used as an important investment reference by major global investment firms. Since 1999, MSCI has evaluated 10 themes and 35 key issues in the ESG domain for listed companies worldwide and publishes the results annually.
In this MSCI report, SK Bioscience received high scores in areas such as ▲human resource development ▲enhancement of healthcare accessibility ▲hazardous substances and waste management ▲governance.
Specifically, in the Social (S) domain, SK Bioscience systematized education programs for global talent acquisition and employee growth and conducted a third-party human rights impact assessment aimed at strengthening human rights management, establishing a system to identify risks and manage them systematically. Additionally, to address vaccine supply imbalance issues, SK Bioscience promoted a ‘glocalization’ project that transfers its research & development (R&D) and production base to countries with insufficient vaccine infrastructure, contributing to the enhancement of global healthcare accessibility, which was highly evaluated.
In the Environmental (E) domain, L House in Andong City, Gyeongbuk, obtained the 'ISO 14001' certification for its environmental management system, improving the management level of hazardous substance emissions and waste. In terms of Governance (G), the company separated the roles of the board chairman and the chief executive officer (CEO), appointed outside directors with diverse industry experience to secure board independence and expertise, and incorporated the CEO’s ESG performance into key performance indicators (KPIs) and the compensation system, thereby establishing and implementing a systematic strategy to advance ESG management.
SK Bioscience plans to further enhance ESG management by expanding the scope of human rights impact assessments and supply chain ESG management support, proactively preparing for disclosures under the Korea Sustainability Standards Board (KSSB), and strengthening climate change response activities.
Jae-yong Ahn, CEO of SK Bioscience, said, “We are pleased that our one-year efforts for sustainable growth have been internationally recognized,” adding, “We will not be satisfied with this and will strive to achieve our core mission of promoting global public health and grow together with our stakeholders.”
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