Samsung Biologics Achieves Integrated ESG A+ Rating...The Only Domestic Pharmaceutical and Bio Company

Up One Level Compared to Last Year... Belongs to Top 1.8%
"Will Become a Leading Domestic ESG Company"

Samsung Biologics announced on the 30th that it has received an integrated A+ rating in the Environmental, Social, and Governance (ESG) evaluation conducted by the Korea Corporate Governance Service (KCGS).

Cover of Samsung Biologics 2023 ESG Report. [Image provided by Samsung Biologics]

The Korea Corporate Governance Service conducts a comprehensive evaluation of ESG-related management for listed companies in Korea every year, assigning seven grades (S, A+, A, B+, B, C, D).

Samsung Biologics received an integrated A+ rating by earning an A grade in Environment, an A grade in Social, and an A+ grade in Governance. This is a one-step improvement from last year's integrated A rating. Among 1,049 listed companies evaluated, only 19 companies received an A+ rating, representing the top 1.8%. Samsung Biologics is the only company in the domestic bio and pharmaceutical sector to receive an integrated A+ rating.

The company explained that its efforts to enhance transparency in governance were highly evaluated in this assessment. Since establishing the ESG Committee in 2021, Samsung Biologics has formed a dedicated ESG organization to build an ESG management system while strengthening accountability. Additionally, by obtaining ISO 37001 certification (anti-corruption management), the company has enhanced management transparency and improved independence and transparency by forming committees and boards of directors centered on outside directors.

In the environmental sector, the company declared a 2050 carbon neutrality (Net Zero) goal in November last year and is implementing concrete action plans to achieve it. Specifically, it is conducting various activities to reduce energy consumption within its business sites and is striving to build low-carbon, eco-friendly workplaces through the installation of solar panels and the purchase of renewable energy.

In the social sector, Samsung Biologics identifies and mitigates human rights-related risks through human rights impact assessments and is expanding ESG activities across the entire value chain by broadening ESG evaluations in its supply chain.

In June, Samsung Biologics published its third ESG report, which includes major ESG management achievements and mid- to long-term strategies. The company is also participating in climate change response activities such as the global Carbon Disclosure Project (CDP) and publishing reports for the Task Force on Climate-related Financial Disclosures (TCFD).

John Rim, CEO of Samsung Biologics, stated, "We will prioritize and implement ESG throughout the entire business process, from product development to production and distribution," adding, "We aim to establish ourselves as a leading ESG company not only in the bio and pharmaceutical industry but also in the domestic industrial sector."

This content was produced with the assistance of AI translation services.