Samsung Biologics releases 2023 ESG Report

19 July 2023 | Wednesday | News

Reaffirming its commitment to net-zero progress and corporate social responsibility
Image Source : Public Domain

Image Source : Public Domain

Samsung Biologics (KRX: 207940), a global contract development and manufacturing organization (CDMO), today released its 2023 Environmental, Social and Governance (ESG) Report. The annual report outlines the company's progress toward its sustainability goals and the strategies to fulfill its social responsibilities and create long-term value for stakeholders.

"Samsung Biologics is fully committed to engaging in sustainable business practices for the positive impact it has on our clients, society, and the wider community," said John Rim, President and CEO of Samsung Biologics. "We will continue to leverage our expertise and experience to accelerate the delivery of net-zero healthcare and engage with our suppliers and partners to amplify our collective efforts."

Key highlights of the report include:

  • Establishing a net-zero pathway: As part of the company's mission to deliver net zero by 2050 or earlier, Samsung Biologics established new milestones: to cut 32% of direct emissions by 2030 and 62% by 2040 while reducing 36% of suppliers' emissions by 2030 and 73% by 2040. Last year, the company also committed to 100% renewable power through the RE100 initiative.
  • Prioritizing sustainable leadership: In recognition of the company's commitment to the creation of sustainable markets, Samsung Biologics was the first leading biopharma CDMO to receive the Sustainable Markets Initiative's (SMI) Terra Carta Seal, which is awarded to companies whose ambitions align with those of the Terra Carta, a recovery plan for Nature, People, and Planet. Samsung Biologics is also engaging its suppliers as part of a broader Supply Chains Working Group initiative within the SMI's Health Systems Task Force to identify carbon reduction options to achieve net zero in its supply chain.
  • Implementing responsible business practices: Samsung Biologics joined the United Nations Global Compact, a major global corporate sustainability initiative, to demonstrate its continued commitment to sustainable business practices, as well as to implement the initiative's 10 principles addressing human rights, labor standards, the environment and anti-corruption.
  • Strengthening risk management practices and transparent corporate governance: To address risks at all levels, Samsung Biologics implemented an enterprise-wide risk management system to strengthen the company's sustainable operations. The company established an ESG committee to oversee the overall governance, reporting, and policies of ESG-related tasks. For transparent governance, Samsung Biologics obtained ISO37001 (Anti-Bribery Management Systems), a framework for implementing reasonable and proportionate measures to prevent bribery and corruption.
  • Accelerating action across the supply chain: As a sustainable CDMO partner, Samsung Biologics conducted ESG assessments with its suppliers to minimize potential risks, build a stable network, and establish green strategies to achieve carbon neutrality across supply chains.
  • Nurturing global talents: The company committed to building a strong bio community by fostering local and global experts to drive innovation and encourage growth while giving back to local organizations through volunteer programs. Samsung Biologics also hosted representatives from the World Health Organization's human resource training hub to offer biologics development and manufacturing courses.

"Samsung Biologics is engaged in this work because we want to leave the world better than we found it," Rim added. "2022 was a foundational year for us, and we are steadfast in our commitment to drive substantial progress and make a more meaningful impact in 2023 and beyond."


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